Golden Arrow Resources Corp (TSX-V:GRG, OTCQB:GARWF) earlier this week provided an update on the progress of its ongoing drill program at the San Pietro project in Chile. The company’s Vice President of Exploration, Brian McEwen, shared that the team is halfway through a 10,000-meter drilling campaign and has seen encouraging results, despite limited market attention.
In the most recent news release, Golden Arrow reported one of the best holes drilled so far at the Colla target, located 1.5 kilometers south of the main resource area, Rincones. The drill hole intercepted 123 meters of near-surface cobalt mineralization, with grades reaching 450 ppm.
McEwen emphasized that this is a significant result for the company, as it not only confirms the potential for high-grade cobalt but also extends the resource footprint of the project.
Golden Arrow is capitalizing on the growing demand for cobalt, a key metal in the energy storage sector. While the project was initially focused on copper exploration, the company is now focusing on both cobalt and copper, with several other targets still to be drilled.
“We’ve encountered high-grade cobalt, and even some high molybdenum in areas where we didn’t expect it,” McEwen said. “These results have all been good surprises.”
The remaining 5,000 meters of the program will include further drilling at Rincones and step-out drilling at other nearby targets.