We discuss recent developments and the future of Golden Arrow Resources with CEO Joseph Grosso.
Golden Arrow Resources is a Vancouver-based explorer and prospect generator focused on base metal projects in Argentina with the goal of achieving a world class discovery. The core focus will be on advancing its flagship Chinchillas Silver Project located in Jujuy, Argentina.
Golden Arrow has a strong treasury which will allow the company to drill its Chinchillas Silver Project over the coming months with the aim of publishing the first NI43-101 resource calculation on Chinchillas in the first half of 2013. Golden Arrow will continue to execute its strategy to leverage the Company’s exploration exposure by attracting partners to fund work on its other high quality mineral projects.
Golden Arrow is a member of Grosso Group Management Ltd. , a management company specialized in resource exploration, and working in Argentina where it is highly regarded and trusted since 1993.
Question and Answer with Joseph Grosso President and CEO of Golden Arrow;
- When do you expect the drill program at Chinchillas to end?
- Anticipated completion of the 6500m drill program is the end of February 2013.
- When do you expect the maiden resource estimate to be ready?
- Our maiden resources estimate is expected to be published by the end of April 2013.
- Will you start a PEA after this first resource estimate, or will you wait?
- In short “yes” we hope to start right away. To expand we will be examining our options for the Chinchillas project as we move forward. There are many variables that go into a PEA and understanding them will aid us in deciding which direction we will advance the project.
- A lot of people are scared because Chinchillas is an Argentinean project. Do you consider the Jujuy-province to be mining friendly in general?
- I do. The mining process, such as staking claims, submitting drilling permits etc., has been very straight forward and more important timely. Mining Law is governed provincially so I think people need to evaluate the risks of mining in Argentina, in more detail and consider what the sentiment is like in each province. Jujuy has had great success historically in producing mines and presently I would use Silver Standard’s Pirquitas Silver Mine as an example that the province is a mining friendly jurisdiction.
- What are Vale’s plans for the Mogote project this year?
- We recently announced that Vale has commenced a 7,500m drill program on Mogote, the details are on our website. This is the second phase of drilling they have done and we are pleased that they continue to explore this new copper district.
- Why is Vale so interested in Mogote?
- What are the plans for the other projects in the portfolio?
- We plan on Joint Venturing the rest of the portfolio. We have close to 30 additional projects that have had considerable work done on them over the last 20 yrs. We are an attractive JV partner as we offer more than just the property but help in navigating Argentina with our 20 year experience in the mining sector in Argentina.
- What’s the current cash position?
- We have $12.5 million in cash and cash equivalents.
- What’s the current burn rate per month?
- Approximately $150,000.
Why should investors invest in Golden Arrow Resources?
- We offer investors an opportunity to participate in the growth from the early stage of a new silver discovery, Chinchillas, which is located in an established silver district. This is where typically the highest leverage phase of growth of a company happens. In the case of Golden Arrow, the Company is in a position to significantly advance this discovery without diluting shareholders as it is well-funded to get beyond a resource calculation stage. Additionally, Golden Arrow is managed by an experienced team who has had success in Argentina in the past.
Disclosure: Golden Arrow Resources Corp. is a sponsoring company. Please see our disclaimer for current positions.