Golden Arrow Resources (GRG.V) has announced excellent results from the metallurgical tests at their Chinchillas silver project in the Jujuy province of Argentina. Silver recoveries are averaging 98.7% using sulphide flotation methods on the ore at the Basement, Socavon and Silver Mantos composites. This excellent recovery rate is accompanied by very high recoveries for zinc (between 66% and 96.1%) and lead (between 96.5% and 98.1%) as well, which are very promising results for future economical studies on the project.
Cleaner flotation tests resulted in an average recovery of 89-92%, which is excellent for a silver project.
We expect Golden Arrow to release its maiden NI43-compliant resource estimate within the next few weeks, and we maintain our target of 50M silver-equivalent ounces.
Meanwhile, the company announced the closing of the private placement, whereby CEO Carlos Fernandez Mazzi has acquired 750,000 shares of Golden Arrow Resources at a price of C$0.30/unit. The company has granted Fernandez Mazzi an interest-free loan to provide the funds for this private placement.
Disclosure: The author holds a long position in Golden Arrow Resources. Golden Arrow Resources is a sponsor of the website. Please see our disclaimer for current positions.