Golden Arrow Resources (GRG.V) has released another fresh batch of drill results from its continuously expanding Chinchillas Silver-Lead-Zinc project in Argentina. All eight holes have hit mineralization and this will very likely lead to more silver and silver-equivalent ounces in the company’s next resource estimate.
VP Exploration Brian McEwen is very upbeat as hole 166 confirmed the theory of another mineralized extension to the Socavon Basement Zone that was developed after the assay results of hole 160 were released. Golden Arrow has drilled more holes in that specific zone and we should see the assay results before this summer. This will allow us to make an educated guess to calculate the additional resource potential.
The Chinchillas project just keeps on delivering and Golden Arrow still hasn’t been able to find the limits of the mineralization at Chinchillas. Every drill hole is adding value to the project and Golden Arrows’ market capitalization of less than C$16M isn’t reflecting this.
Disclosure: The author holds a long position in Golden Arrow Resources. Golden Arrow is a sponsor of the website. Please see our disclaimer for current positions.