Shares in Joseph Gross-led Golden Arrow Resources (GRG-V) jumped more than 60% to $1.09 in morning Venture-Exchange trading on Apr. 13, after the junior explorer reported some bonanza gold grades from the recently staked Antiguyo and San Jose properties in Argentina’s Jujuy province.
At the 56-sq.-km Antiguyo property, channel sampling yielded up to a weighted average of 384.5 grams gold per tonne over a 2-metre channel sample of a quartz vein outcropping over 30 metres. The vein contains visible gold filling in some small fissures.
A composite of chip samples from altered sandstones, quartz-vein material, and pyrite from the footwall of the gold-rich vein returned a weighted average of 17.3 grams gold per tonne.
Twelve other samples generally returned 0.1-0.7 gram gold over intervals from 0.4 metre to 2 metres. The remaining 10 samples failed to yield significant gold. So far, sampling and reconnaissance exploration has targeted only the southern portion of the property.
On the 20-sq.-km San Jose property, 10 samples collected over a 1.4-km section of a veined alteration zone are highlighted by 12.2 grams gold over 1 metre, 9.45 grams over 1.2 meters, and 5 grams over 1 metre. The remaining samples generally retuned less than 1 gram gold over similar widths.
Both properties are situated the Sierra de Rinconada. The northeast-trending belt measures 30 km by 130 km and has produced gold since Incan times. It has seen little in the way of modern exploration.
Geological mapping and soil-sampling is underway at the San Jose. Results from 167 soil samples over the 75 hectares targeted by channel sampling are awaited. A talus-sampling program is covering the rest of the property. Work will shift to Antiguyo once the current program wraps up.
Golden Arrow finished 43 better at $1.11.
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