Golden Arrow Resources Corp (CVE:GRG) has kicked off a US$1mln exploration program at its 100% owned Pescado gold project in San Juan province in Argentina.
"The Pescado project has the attributes needed for making a significant discovery, including proximity to existing deposits, size, accessibility, and known mineralization in a positive geologic setting," said Brian McEwen, the group's vice president of exploration and development.
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"We look forward to advancing our knowledge of the property and bringing it to a drilling stage."
The site plays host to two main gold target areas where large intrusive bodies intersect major regional faults.
Previous work has identified high grade gold mineralization in these areas, including 17.6 g/t (grams per ton) gold, Golden Arrow noted.
The exploration work announced today is set to include additional geophysics and surface work to refine drill targets, with up to 1,800 metres of drilling budgeted.
Work permits have been received and the technical team is now starting exploration at the Yanso target area.
Golden Arrow shares shed 1.06% to stand at C$0.465 each.