Golden Arrow Resources (TSXV:GRG) has announced that it has signed definitive agreements to acquire the 3,450 hectare Atlantida copper-gold projectin Chile’s Atacama region.
The company said that Atlantida is an advanced project which combines mineral rights from two separate owners and includes an extensively drilled copper-gold deposit with an historic resource estimate. By consolidating the land package, Golden Arrow believes there is potential to identify new mineralization and define a significant copper-gold resource.
As quoted in the press release:
Previous exploration at Atlantida resulted in an historic resource estimate of 427 million tonnes averaging 0.43 percent copper equivalent. The resource includes a deep porphyry copper-gold target and a near-surface skarn with higher gold grades which together cover an area of approximately 225 hectares.Situated within the consolidated Atlantida property, this skarn zone is located on the western edge of the claim hosting the historic resource, and extends onto an adjacent claim that has historic workings but has had limited modern exploration. Golden Arrow’s due diligence surface rock samples in this area returned up to 3.7 grams per tonne (g/t) gold and 1.98 percent copper, providing an excellent target for new mineral resources. In addition, based on the preliminary due diligence review, Golden Arrow believes the Project is prospective for discovery of similar targets elsewhere within the consolidated Atlantida properties.
The post Golden Arrow Expands into Chile with Agreement to Acquire the Atlantida Copper-Gold Project appeared first on Investing News Network.
From:: Investing News Network