Golden Arrow Completes Drilling on San Jose

VANCOUVER, BC - Golden Arrow Resources Corporation reported that it has completed the previously announced diamond drill program on its 100% owned San Jose Gold Project in Jujuy Province, northwest Argentina. A total of 1429m of HQ core was drilled in 18 holes along a 1.2km mineralized trend with three gold zones previously identified by soil sampling and surface channel sampling. The San Jose property hosts high-grade gold quartz vein occurrences and stockwork-related bulk-tonnage style gold mineralization. Assays will be released once all results from the program have been received.
Plans are underway for the re-commencement of drilling on the Poncha Gold Project in San Juan Province in October, and the Company is contracting a drill rig capable of adequately testing the buried target identified in the discovery hole RCPC13 in the northwest sector of the South Target. The primary objective of the program will be to systematically step out at regular intervals in all directions from hole RCPC13 in order to delineate the extent and tenor of the breccia-stockwork hosted gold-silver-copper-lead-zinc mineralization intersected over a 266m interval, between 129m and 395m depth. The mineralized zone averaged 1.21 g/t gold and 3.30 g/t silver including 61m that averaged 3.04 g/t gold and 7.16 g/t silver. Hole RCPC13 bottomed in mineralization and remains open in all directions. At the same time as the drilling program, the Company will also be undertaking surface exploration work on the South Target to identify additional drill targets. Golden Arrow is earning up to a 100% interest in the Poncha Project from Teck Cominco Limited's subsidiary, Teck Cominco Argentina Ltd. by fulfilling expenditure and tenure maintenance requirements subject to Teck Cominco's option to re-earn up to a 65% interest in the Poncha property.
Over the next few months the Company's exploration crews will be carrying out surface sampling and mapping programs on a number of its other projects in Jujuy and San Juan provinces, Argentina. An Induced Polarization (IP) geophysical survey is planned to delineate chargeability and resistivity anomalies on the Pescado Gold Project in northeastern San Juan Province.
The company's address is Suite 709 837 West Hastings Street, Vancouver, BC V6C 3N6, 604.687.1828, fax: 604.687.1858, email: [email protected].