SAN FRANCISCO, CA--(Marketwired - January 18, 2017) - Development progresses at Golden Arrow Resources Corp.'s (TSX VENTURE: GRG) (FRANKFURT: GAC) (OTCQB: GARWF) Chinchillas project as investors await Silver Standard Resources' business combination decision, which is due by March.
Company included in article: Golden Arrow Resources Corp.
Golden Arrow Resources and Silver Standard Resources entered into a business combination agreement in October 2015 for the joint development of Golden Arrow's Chinchillas project and "an agreement to combine the producing Pirquitas Mine and the Chinchillas project, located approximately 35 kilometres apart in Jujuy Province of Argentina, into a single new operation." The joint venture would be 75% owned by Silver Standard and 25% owned by Golden Arrow.
Development has advanced at Chinchillas since that time. On Dec. 20, 2016, Joseph Grosso, chairman, president and CEO of Golden Arrow, noted that "as of the end of September 2016, Silver Standard has invested approximately $11M USD to advance the project towards pre-feasibility. In 2016, work completed included: a Phase VI drill program, an upgraded resource estimate, metallurgical studies, engineering studies, environmental monitoring, and community relations programs. The Environmental Report, which is the major mine permit application, was submitted to the authorities in September."
Continue reading this interview: Joint Venture Decision on Golden Arrow's Chinchillas Project Nears
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