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Vancouver, BC / Marketwired /July 11, 2016 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), “Golden Arrow” or the “Company”) has structured a plan to capture the positives of the market changes using the Company’s value achievements to date as a base for growth.
The top priority and value will be to continue working with Silver Standard who is working diligently toward the feasibility of integrating the two projects, Chinchillas and Pirquitas Mine. Silver Standard’s financial commitment has considerably advanced the Chinchillas Silver project’s value.
The resurgence of the price of silver which is encouraging new production economies, plus the significant tax reduction by the Government of Argentina, is re-opening the country as a leading destination for new investment.
The Company wishes to announce that it has entered into an option agreement to acquire a 100% interest in the Antofalla project, a silver and base metals project located in Catamarca Province, Argentina. Antofalla hosts similar styles of geology and mineralization to the Company’s Chinchillas Silver Project. The terms of the option agreement include staged payments over five years totaling $1.56M for a 100% interest in the property. The vendor would retain a 1% net smelter royalty.
In addition, Golden Arrow is a 100% paid-up owner of 214,000 hectares (528,000 acres) of an extremely well-located property portfolio which could well advance another world class discovery in addition to the previous three already found by the Grosso Group.
Golden Arrow’s plan during this mining industry market turnaround is to maximize value on all fronts by: continuing the search and review of exciting new projects for acquisition or merger; continuing the development of well-located properties already held by the Company in Argentina; and, the advancement of its Chinchillas project to production.
ON BEHALF OF THE BOARD
Mr. Joseph Grosso
Executive Chairman, President, CEO and Director
For further information please contact:
If you have questions about Golden Arrow, you can reach representative Shawn Perger here: Shawn: 1-800-901-0058 or 778-686-0135. See the website HERE. Please consult DB’s disclaimer before making investment decisions. This is not an endorsement.