Golden Arrow Resources Corp. (GRG:TSX.V; GARWF:OTCQB; G6A:FSE), a junior mining company with properties in Chile, Argentina, and Paraguay, has already attracted attention in the industry. It is on the verge of starting to drill at its Rosales copper project in Chile.
The TEM soundings suggest a "strata-bound or mantos-style copper deposit model, which is further supported by the mineralization, alteration, and host rocks identified to date at Rosales," Golden Arrow Vice President of Exploration and Development wrote in a recent news release.
"Results are expected back from the lab in October."
"This type of high-grade copper deposit is common in Chile, with well-known examples including the El Soldado and Mantos Blanco mines."Plans call for 3,000 meters (3,000m) of phased reverse circulation drilling at Rosales, testing the anomalous targets identified via a surface transient electromagnetic (TEM) survey, TEM soundings, and a ground-based magnetic survey.
At least two industry experts have discussed the reports on Golden Arrow. The Critical Investor, an online mining platform whose editor is a mining stock investor and newsletter writer, is eager to see the results of Golden Arrow's drill campaign, writing, "It is very interesting to see Golden Arrow Resources drilling the big conductor at Rosales now which starts at 500m depth. . .I'm looking forward [to seeing] if this deep, large conductor could indicate actual mineralization."
"The recent hole by Filo Mining speaks to the incredible geologic potential in the region."
Also, The Critical Investor summarized the timeline of the first phase of drilling. "After talking to Vice President of Exploration Brian McEwen, the company appears to have planned to drill one of the first holes into this conductor around the first week of September, to a depth of 700m. Drilling the first phase of 1,500m will take about one to two weeks, assaying another three to four weeks, and results are expected back from the lab in October," it wrote.
Gerardo Del Real, co-owner of Digest Publishing, which offers investment research and ideas, wrote the following about Golden Arrow, a member of the Grosso Group, and its exploration success and potential upside in Argentina:
"The Grosso Group pioneered mining in Argentina. The recent hole by Filo Mining speaks to the incredible geologic potential in the region."
Del Real explains, "It bodes well when the group looking to make a discovery or discoveries of significance has done it before. In this case not only has this group done it, they opened the door for others to unlock the vast potential Argentina has for significant deposits."
Golden Arrow has approximately 116 million shares issued and outstanding and 148 million fully diluted. In a recent press release, the company announced that it has received approval from the TSX to purchase up to 10,132,012 of its common shares, which is equal to 10% of the public float as of Aug. 10, 2021.
The bid to purchase the shares commenced on Sept. 1, 2021 and will end within a year (or at Golden Arrow's discretion).
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