Golden Arrow Resources Corp (CVE:GRG, OTCMKTS:GARWF) said Friday that the venture it operates with SSR Mining Inc (TSX:SSRM, NASDAQ:SSRM) is approaching large-scale production at the Chinchillas silver, lead and zinc project in Argentina.
During the third quarter, 300,000 tons of ore and 2.1 million tons of waste was mined at the Chinchillas pit. About 73,000 tons of ore from that was delivered to the Pirquitas mill, of which 39,000 tons were processed in test runs.
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"Chinchillas is on the final steps to achieving commercial production,” Golden Arrow Chairman and CEO Joseph Grosso said in a statement. “We commend our operating partners for keeping the project on budget."
Golden Arrow owns 25% of the Puna Operations Inc. venture while SRR has a 75% stake. Both companies are based in Vancouver. The venture, formed in May 2017, combines the Chinchillas project with SSR’s producing Pirquitas operation in Argentina.
During the third quarter of 2018, Puna produced 700,000 ounces of silver and 3.2 million pounds of zinc, reflecting a shift to processing stockpiles with higher zinc content.
Contact Dennis Fitzgerald at dennis@proactiveinvestors.com