VANCOUVER, BC, May 14, 2025 /PRNewswire/ - Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to report on recent activities and results that underscore the potential for new discoveries, particularly with a focus on gold, at the San Pietro Copper-Gold-Iron oxide-Cobalt Project ("IOCG"), Chile ("San Pietro" or the "Project"). This includes the first sampling results from two exciting new targets (Noemi and Lolita Norte) and the addition of new concession package (Cerro Sur) with highly prospective gold-copper results from historic drilling (see Figure 1).
Golden Arrow Resources Corporation logo (CNW Group/Golden Arrow Resources Corporation)
The Noemi target (Figure 2) demonstrates the hallmarks of IOCG deposits like the Rincones & Colla deposits, 7km to the southeast along a structural trend, including,
High magnetic anomalies coincident with specularite, quartz, carbonate and copper oxides in potassic-altered breccias and veins up to 3 metres wide with multiple anomalous rock chip samples including 1.4 m averaging 3.41% Cu and 0.26 g/t Au.
Prominent north-south breccia veins offer large gold targets at both Noemi and Lolita Norte:
800 metres of strike returned 4 significant gold-copper values in rock chip channel samples, such as 3.0 m averaging 4.19 g/t Au and 2.08 % Cu at the Florencia structure, Noemi target.
A similar structure at Lolita Norte target (Figure 3) is believed to be the continuation of an historically mined vein system; new sampling confirmed gold and copper along 1.9km of strike.
The newly acquired 1,500-hectare Cerro Sur concession package expands the discovery potential at San Pietro. There is diamond-drilled core remaining on site from historic targets, and summary assay results for over 4,600m of drilling for gold and copper that include:
Intercepts from 0.1 g/t Au to as high as 27.9 g/t Au, with a best reported interval of 6 metres averaging 4 g/t Au
Single intercepts from 0.1% Cu to as much as 62 metres averaging 0.25% Cu.
Brian McEwen, Golden Arrow VP Exploration and Development stated, "Results from our 2024 exploration program continue to demonstrate that San Pietro has a huge amount of remaining discovery potential. The results from Noemi and Lolita Norte are very promising, and the amount of gold is particularly encouraging. The Cerro Sur acquisition adds a big opportunity as there has been a lot of work done by some major companies in the past and our preliminary review of the information supports the potential for more gold and copper discoveries. We are continuing our systematic exploration in these areas and throughout the more than 50% of the property that remains untested. We are refining targets for a Phase 3 drill program which will be designed to expand resources at our Rincones and Colla deposits and identify new deposits at San Pietro."
Additional detailed mapping and sampling is on-going at Noemi and Lolita Norte to delineate targets for future drilling. At Cerro Sur, the Company plans to relog and retest any viable remaining drill core to create a modern database for the area. Additional field work is also being planned.
Exploration Program Details
In 2024 the Golden Arrow team continued surface exploration throughout the large San Pietro property, concurrent with the resource delineation drilling program at the Rincones and Colla targets. The first detailed geological mapping was completed in the south and southwestern parts of San Pietro as well as a 1500-hectare ground magnetics survey and the new Noemi and Lolita Norte target areas were delineated (see Figure 1 project map including Figure 2 and 3 detail map locations).
Noemi
Noemi covers an area of approximately 2 by 3 kilometres located approximately 7 kilometers south of the Rincones resource area. The main geological units mapped are fine andesites, tuffs and volcaniclastic rocks intruded by a microdiorite, and in some areas there is gravel cover. There is an early stage of alteration of scapolite-actinolite-magnetite crosscut by NW to N-S trending shear zones. These zones include breccias and veins up to 3 metres wide, with specularite, quartz, carbonate and copper oxides and a potassic feldspar-chlorite-epidote alteration. These structures are anomalous in gold and copper with values in rock chip channel samples of up to 1.4 m with 3.41% Cu and 0.26 g/t Au (see Figure 2). Several of these areas are coincident with strong magnetic anomalies. The coincidence of the appropriate lithologies with good alteration, copper-gold structures and high magnetic anomalies indicates potential for new IOCG deposit discoveries similar to the Rincones deposit.
Also of particular interest within the Noemi target is a prominent north-south breccia vein of quartz-tourmaline-specularite-carbonate-jarosite. This structure ("Florencia") outcrops in 2 sections (north and south). In the south section the vein has a width of 1 to 3 metres but reaches up to 8 metres with the adjacent veinlets. Four rock chip channel samples collected across the structure, along 800 metres of strike, returned significant gold-copper values such as 3.0 m with 4.19 g/t Au and 2.08% Cu (Figure 2).
Lolita Norte
Three kilometres west of the Noemi the team identified a second high-priority target, called Lolita Norte.
A similar structure to Florencia was identified and mapped for more than 1.9 kilometres with the possibility that it continues to the north under the gravel cover. It is believed to be the northern extension of the Lolita-Madura gold vein system which was exploited as part of a private underground gold mining operation in the 1980´s, the remains of which are situated approximately 2.5 kilometres to the south, off the San Pietro concessions. [Proximity to a mineral resource, deposit, or mine does not indicate that mineralization will occur on Golden Arrow's property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario.]
The mineralization at Lolita Norte is similar to Florencia with gold and copper in a quartz-tourmaline-carbonate vein and breccia structure with a width of 1 to 8 metres. In this case the host rock is granodiorite that is part of the Sierra Mercedita Pluton. The team completed the first stage of reconnaissance of this target, collecting 61 rock chip samples from the veins and old small miner workings (Figure 3). Well-mineralized samples occurred throughout the entire length of the structure, and in some cases the host granite carried similar mineralization to the veins. For instance, rock chip samples from an "underground breccia" (taken from old workings approximately 15 m deep) included a vein sample assayed at 0.75 m averaging 0.35 g/t Au with sampling of the adjacent granite returning 1.5 m averaging 0.20 g/t Au and 1.0 m averaging 0.64 g/t Au.
Cerro Sur Acquisition
Cerro Sur is comprised of 1,500 hectares of mining exploration concessions adjacent to the western border of the San Pietro Project (Figure 1). The Cerro Sur concessions recently became publicly available and Golden Arrow's Chilean subsidiary, New Golden Explorations Inc. ("NGE"), secured a 100% interest via the Chilean government application process. Verbal accounts suggest that as much as 10,000 metres of drilling has been completed at the project in the past. The third-party historic summary report currently available (the "Summary") provides information from several exploration programs prior to 2018 with work completed by major companies that included geological mapping, surface sampling, trenching and geophysical surveys (magnetometry and TEM) and testing for copper and gold by diamond drilling of 4,695 metres in 17 holes. Golden Arrow's Qualified Person has not verified the information in the Summary and no details on methodology or QA/QC were included, therefore this information is considered "anecdotal" at this stage and only indicative of the potential of the project. Drill core from the project is available and an initial review indicates that it is mostly intact, although it has not been confirmed that it all, and only, coincides with the holes reported in the Summary. NGE plans to relog, resample and re-assay the core as much as possible to validate the historic data and create a robust database.
The Cerro Sur project is located within the Atacama Fault System ("AFS"). The north-south lying AFS includes a wide zone of deformation that controls the mineralization and alteration at San Pietro and other nearby IOCG deposits. This includes the Mantoverde IOCG deposit and mine complex which is located less than 10km to the southwest of Cerro Sur, and is one of several deposit models used for exploration at San Pietro (see NI 43-101 Technical Report filed on SEDAR+). The Summary for Cerro Sur suggests that the underlying volcanic basement rocks are the Jurassic aged La Negra Formation, which is the same group at least partly assigned to the rocks that underly at Manto Verde. Locally these are overlain by granitic rocks from the Upper Cretaceous aged Sierra Merceditas Pluton, which is also mapped at the Lolita target area (see above). Along a six kilometre north-south section of the Merceditas Fault and its related structures (a subsidiary of the AFS), several veins and stockworks with gold and copper have been identified. The copper is associated with shear zones containing magnetite that can be associated with an IOCG model, while the gold mineralization might be related to an epithermal episode associated with the intrusive.
The Summary indicates that five targets were tested by diamond drilling of across several of the steeply dipping mineralized structures. Twelve holes reported anomalous copper and/or gold intervals. Anomalous intervals occurred from 0 to as much as 335 metres downhole and many holes reported multiple intervals. For copper, notable intervals ranged from single (1 metre or less) intercepts of >0.1% Cu to as much as 62 metres averaging 0.25% Cu. For gold, notable single intercepts ranged from 0.1 g/t Au to as high as 27.9 g/t Au, with the longest reported interval of 6 metres averaging 4 g/t Au.
Methodology & QA/QC
Rock chip samples at Noemi and Lolita Norte targets were collected by the NGE technical team. Samples were shipped to ALS Laboratory in Copiapo, Chile by a contract truck service. Sample preparation and gold analysis by Fire Assay and reading by atomic absorption on 30 gm sample by method Au-AA23 was completed at the ALS facility in Santiago de Chile. Multi-element package by ICP-OES reading following a four-acid digestion by method ME-ICP61 was performed at ALS facilities in Lima, Peru. Samples with over limits in copper (+ 10,000 ppm) were re-assayed by ore grade method Cu-OG62 that includes four acid digestion and ICP-OES reading. The Company follows industry standard procedures for the work carried out on the San Pietro Project, with a quality assurance/quality control ("QA/QC") program. Blank and standard samples were inserted in each batch of samples sent to the laboratory for analysis. Golden Arrow detected no significant QA/QC issues with material effect on the data.
Qualified Persons
The exploration programs are designed by the Company's geological staff and results are reviewed, verified (including sampling, analytical and test data) and compiled under the supervision of Brian McEwen, P.Geol., VP Exploration and Development to the Company. Mr. McEwen is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the contents of the news release.
About the San Pietro Project
The San Pietro Project targets the discovery of multiple copper-gold-iron oxide ("IOCG") plus cobalt deposits on over 21,000 hectares located approximately 100 kilometres north of Copiapó in the Atacama Region of Chile. To date, Golden Arrow has completed an initial Mineral Resource Estimate for the Rincones and Colla deposits that includes 2,470 Mlbs of contained Cu and 770,000 oz contained Au (492 Mt with an average grade of 0.23% Cu, 0.05 g/t Au, 99 g/t Co and 14.43% Fe; NI 43-101 Technical Report filed on SEDAR+).
Situated between and adjacent to Capstone Copper's Manto Verde Mine property and Santo Domingo Project, San Pietro is in the centre of a new copper-iron-cobalt district within an active, well-developed mining region that is home to all the major IOCG deposits in Chile.
Golden Arrow operates San Pietro through its 75%-owned Chilean subsidiary, New Golden Explorations Inc. ("NGE").
About Golden Arrow:
Golden Arrow is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina.
The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Joseph Grosso" _______________________________
Mr. Joseph Grosso, Executive Chairman, President and CEO
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This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the terms of the Amending Agreement, the exercise of the Amended Option and the timing thereof, the TSXV's approval of the Transaction; the gross proceeds under the Private Placement, the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company are forward-looking statements.
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