Golden Arrow Resources Corp (TSX-V:GRG, OTCQB:GARWF) has kicked off a substantial 10,000-meter diamond drilling campaign at its San Pietro iron-copper-gold-cobalt project, in Chile.
The explorer aims to gather sufficient data about the deposit to enable the project's first mineral resource estimate.
It will focus drilling efforts on the Rincones target, an area previously highlighted by significant mineral findings – in July 2023, previous drilling revealed notable intercepts including 64.2m averaging 0.86% copper, 0.20 g/t gold, 196 g/t cobalt, and 26.9% iron.
"We are excited to have the drills turning at San Pietro. Recent surface mapping and re-logging of existing drill core has allowed us to fine-tune the program as well as identify new targets,” Brian McEwen, VP for exploration and development, said in a statement.
“It is all coming together in a very positive way.
“We have already established strong iron oxide-copper-gold (IOCG) mineralization in a location that benefits from being situated in an active IOCG-producing district, within a leading copper-gold mining jurisdiction.”
McEwen added: “We are completely funded and underway on a resource delineation drill program, at a time when copper and gold prices are reaching exciting highs supported by strong long-term forecasts.
“This could translate to intense interest in San Pietro moving forward."
San Pietro spans nearly 18,500 hectares and it is host to multiple targets with strong IOCG+cobalt mineralization, with previous drilling totalling some 34,000 meters.