Golden Arrow Resources Corporation (CVE:GRG) (OTCMKTS:GARWF) reported more positive exploration findings from its Tierra Dorada gold project in Paraguay, where it has identified a new high grade vein.
Mapping and sampling at the Alvaro target, one of four previously-identified targets, identified a new quartz vein prospect 250 metres northwest and parallel to a known prospect, the company said in a statement.
A grab chip sample returned over 47 grams per ton (g/t) gold, it added.
"Our mapping and sampling of the known target led to the understanding that it was actually two significant parallel gold-bearing vein structures," said Brian McEwen, Golden Arrow's vice-president (VP) of exploration and development.
"Further work then identified a third vein that is more brecciated, also with high-grade gold, which represents an exciting extension to the showing."
At the Alvaro target, there are three known areas with sub-outcropping high-grade gold-mineralized quartz veins over a distance of 2.5km.
And a recent review of these outcrops indicated two parallel structures striking northeast, 25 metres apart, occurring over a strike length of around 200 metres.
The new vein is parallel to the previous two and lies 250 metres to the northwest, but is highly brecciated including clasts of host rock, possibly indicating a significant breccia zone in this area, said Golden Arrow.
Further trenching and mapping is expected to begin at the Alvaro target before the end of the year.
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