Golden Arrow Resources Corp (CVE:GRG) (OTCQB:GARWF) has said it is well placed financially to fast-track its work to potentially generate 'multiple new discoveries' this year.
In an update to shareholders, Golden Arrow executive chairman, president, and CEO Joseph Grosso said that the group, despite coronavirus (COVID-19) challenges, continued to stay selectively active in Argentina, Chile, and Paraguay.
READ: Golden Arrow Resources hits high grade gold through surface drilling program at Tierra Dorada project in Paraguay
In Paraguay, the firm is planning up to 2,000 metres of drilling at its Tierra Dorada gold project starting in the first quarter this year. The company highlighted news from January 19 this year, of a high-grade drill result at the project, namely, an intercept at the Alvaro target of 143.5 grams per ton (g/t) gold over 0.5 metres (m) within a 6m intercept, averaging 14.53 g/t gold at between 3m to 9m depth.
The Alvaro target has multiple areas with high-grade gold in quartz veins, including some visible gold.
Meanwhile, in Argentina, following an announcement in December last year, Golden Arrow is continuing with a trenching and sampling program at the Flecha de Oro Gold asset, said Grosso.
In Chile, the company has completed first pass sampling at the Rosales copper project and plans to follow up with a trenching program.
Management also continues to evaluate advanced copper projects in the country, he noted.
"Golden Arrow's strong treasury positions the company to fast–track its work in progress to potentially generate multiple new discoveries this year," Grosso said.
Golden Arrow is part of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
Contact the author at giles@proactiveinvestors.com