After lots of reconnaissance exploration at several of their projects, Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) is ready for the follow-up, and recently commenced drilling at two different projects. These are the Rosales Copper project in Chile, and the Terra Dorada gold project in Paraguay.
After almost two months of exploration at the Esperanza property at the Flecha de Oro project in Argentina, results are starting to come in for Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE). The ongoing trenching program is currently in Phase I, and focused on a nine square kilometre area where numerous gold-bearing quartz veins have been identified at surface.
As copper is riding at 9 year highs lately, Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) acknowledged this fact and recently made an adjustment to their exploration strategy, which previously focused predominantly on their gold projects Tierra Dorada in Paraguay and Flecha de Oro in Argentina, and to a lesser extent on their Rosales Copper project in Chile.
As Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) was sidelined for most of last year due to COVID-19, their exploration programs were basically halted. The project that first got underway again was the Tierra Dorada Gold project in Paraguay. The story on this project is a testament to the strong network of Golden Arrow in Latin America.
As Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) renegotiated their Indiana gold project in Chile not too long ago into very favorable terms, I was surprised to recently read about the company dropping the project:
“The Company also wishes to report that it is not proceeding with its option of the Indiana Gold-Copper project in Chile.”
At a time when tax loss selling is at its peak, Golden Arrow Resources (GRG.V, GARWF.US, G6A.FSE) seems to have bottomed, and is regrouping after the sale of its interest in the Puna operation. New exploration projects have been acquired and exploration is on its way, and with a new focus on gold this time combined with a robust gold price, and by owning a large amount of SSR Mining shares, the company seems ready to generate interesting news starting in Q1 2020.