With 4 precedence targets recognized, Canadian explorer Golden Arrow Assets Corp. is conducting its preliminary exploration program at its newly acquired copper-gold-cobalt property, famous a Goldletter Worldwide bulletin, and in addition explains why it believes the corporate is undervalued.
Golden Arrow Assets Corp. (GRG:TSX.V; GARWF:OTCQB; G6A:FSE) kicked off its preliminary exploration on the San Pietro copper-gold-cobalt mission in Chile and continues logging historic drill core information on the mission, reported Marino Pieterse, writer and editor of Goldletter Worldwide, in a June 16 Funding Alert. The corporate bought the mission from Sumitomo Steel Mining Chile in March for money consideration of US$3.35 million.
Over the subsequent six months, the British Columbia-based exploration firm plans to hold out detailed floor mapping and sampling, trenching, and up to date geophysics work at San Pietro, now its flagship mission, starting on the Rincones goal.
“The 2022 work program will work towards a useful resource delineation program at Rincones whereas persevering with to guage and advance different areas of the property,” Pieterse wrote.
Earlier homeowners of San Pietro carried out almost $15M value of exploration work there. Rincones was the first focus of historic exploration, “with a number of drill holes returning assays with vital copper, gold and cobalt values,” Pieterse famous. One spotlight intercept from that work is 28 meters (28m) of 1.14% copper, 0.12 grams per ton gold, and 335 elements per million of copper.
Golden Arrow recognized three further targets by compiling and analyzing historic information from 34,000m of drilling, 1,000-plus floor samples, and quite a few geophysical surveys. The targets are Colla, 2.3 kilometers (2.3 km) southwest of Rincones; Rodeo, 7.5 km northwest of Rincones; and Radiss Norte, due north of Rincones.
Pieterse reiterated that San Pietro is an 18,448-hectare mission in Chile’s Atacama area and famous that “there may be glorious mining infrastructure within the space.” The mission is flanked by two iron oxide-copper-gold tasks owned by Capstone Copper, Santo Domingo instantly adjoining to the east and Mantos Verde 10 km to the west.
Pieterse additionally said that he believes Golden Arrow is at present undervalued with a market valuation of US$13.9 million (CA$18 million). He famous that the corporate had whole belongings of CA$12.5 million in money and money equivalents as at March 31, 2022, “in addition to anticipating promising outcomes from a number of deliberate drilling applications this yr, apart from the San Pietro Copper-Gold-Cobalt Undertaking, together with the Flecha de Oro mission and its greater than 180,000 hectares of properties for Joint Ventures in Argentina.”
“Golden Arrow, for my part, is providing a excessive funding leverage potential,” he added.
Pieterse’s value goal on Golden Arrow is CA$0.50 per share; the inventory is at present buying and selling at round CA$0.15 per share.
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