Golden Arrow Resources Corporation (TSX-V: GRG, OTC Other: GARWF) announced today significant progress at its 100% owned Caballos Porphyry Copper project located along the Chilean border in western La Rioja Province, Argentina in an emerging porphyry copper-gold belt that is currently the focus of a number of large drilling programs.
Golden Arrow commenced a program of geological mapping and sampling in October at the start of the Andean summer field season. Initial results have confirmed and extended high-grade porphyry copper and gold mineralization discovered last season which included 12m averaging 2.4% within an 18m continuous chip sample in an area with limited exposure (see September 8, 2011 News Release). Polished section microscope work indicates the majority of mineralization is primary chalcopyrite disseminated in diorite porphyry host, with lesser secondary copper oxides.
This field season a new mineralized porphyry exposure has been located beneath 0.5m of soil cover 50m uphill from the initial discovery outcrop. A composite chip sample collected from a 6m hand trench averaged 0.60% copper and 0.35 g/t Au over 5m. In addition, 600m southwest of these principal outcrops, a 10m wide dioritic porphyry outcrop with similar visible copper mineralization (assays pending) has recently been identified.
Although the extent of the mineralized outcrop is limited, and there are non-mineralized intermediate rocks outcropping between and around the mineralized zones, Golden Arrow interprets this style of mineralization as being significant and it may represent dykes or apophyses emanating from a large buried copper — gold porphyry body.