The chairman of South America-focused explorer Golden Arrow Resources Corporation (CVE:GRG) (OTCMKTS:GARWF) says it is well set to build on its track‑record of generating new discoveries and leave production to the producers.
"Golden Arrow’s property portfolio has been developed over the past 26 years and constitutes an aggressive and exceptional pipeline with the potential to generate shareholder value," said Joseph Grosso.
"The portfolio currently includes multiple projects with discovery potential including our newly acquired properties in Chile and Paraguay."
Its portfolio now includes advanced projects in Chile, a district-scale frontier opportunity in Paraguay, and more than 185,000 hectares of properties in Argentina.
Golden Arrow's sale of its 25% interest in the joint venture which owned the Chinchillas project in Argentina to SSR Mining in a C$45 million deal was completed in September this year.
"Golden Arrow, debt-free and financially strong is now able to develop our key target projects to unlock the value contained in our portfolio. The sale of Chinchillas for $45 million netted the Company $28 million after payment of all outstanding company obligations," noted Grosso.
So far, the firm said, Golden Arrow's property portfolio has generated three major discoveries - the Gualcamayo gold deposit, Navidad silver deposit and the Chinchillas silver deposit.
Looking ahead, Grosso says the firm's strategy is to:
- Limit early-stage exploration to only high-potential locations identified by Golden Arrow’s technical team;
- Accelerate timelines for discoveries by concentrating on advanced targets with already established value; and
- Convert discoveries into streams of long-term income.