Golden Arrow Hits High-Grade Gold in Shallow Drilling and Identifies New Targets at the Tierra Dorada Gold Project, Paraguay

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Golden Arrow Resources Corporation (TSX-V: GRG) (FSE: G6A) (OTCQB: GARWF), (“Golden Arrow” or the “Firm”) is happy to report that it has accomplished its shallow diamond drilling marketing campaign and its first induced polarization (“IP”) geophysical program on the Tierra Dorada gold venture in Paraguay . These applications proceed the work on the Alvaro space to delineate high-grade, quartz vein-hosted gold prospects and refine targets for full-scale follow-up drilling applications. Highlights of the mixed applications embrace:

Showings 1, 2 and 4 had been examined through 41 shallow diamond drill holes totaling 550 metres; outcomes embrace:

143.5 g/t gold over 0.5m , inside 6m averaging 14.53 g/t gold at 3- 9m depth (DHTD18, Displaying 1)
11.8 g/t gold over 3.16m , inside 7.75m averaging 6.09 g/t gold at 1.70- 9.35m depth (DHTD35, Displaying 2)

4.2 km ² IP survey lined Showings 1-4 and environment; a number of new targets recognized, together with:

1700 m anomalous development together with Displaying 1, open to the NE & SW; SW extent connects to broad larger chargeability anomaly
A powerful coincident chargeability and resistivity anomaly recognized 250m SW of Displaying 2
The next chargeability zone coincident with sub-outcrops of ferriferous gneiss northwest of Displaying 3

Golden Arrow VP Exploration and Growth Brian McEwen commented, “The in depth soil and vegetation cowl at Alvaro makes exploration difficult, so this shallow drill program was a superb choice to provide us a greater have a look at the subsurface than we had been capable of accomplish with prospecting or trenching. We’re happy with the outcomes, which in some circumstances have confirmed continuity of gold mineralization and veins under floor and in others have proven broader veins than anticipated with larger grades than the floor sampling.”

General, the shallow drilling program has offered key insights into the situation and conduct of gold mineralized veins at Alvaro, which, together with the brand new geophysical outcomes, will support in refining the targets for the following stage of labor, which is predicted to incorporate not less than 2,000 metres of diamond drilling by the top of the primary quarter of 2021.

Drilling Program Particulars and Abstract of Outcomes

Golden Arrow’s present prospecting allow within the Alvaro space permits drill holes as much as twenty metres in depth. The targets of this preliminary shallow drilling program had been to comply with and characterize the high-grade mineralized quartz vein constructions under the floor and make sure the continuity of gold mineralization within the veins.

This system included 41 holes totaling 550 metres of NQ diamond core drilling (see drill gap location desk: https://bit.ly/35RQR5q ).

The holes examined three of the 4 extra potential gold vein showings (Displaying 1, 2 and 4, see Determine 1: https://bit.ly/3qrzpMM ) the place floor and trench sampling has returned a number of high-grade gold assays (see Information Releases dated December 5, 2019 and Might 27, 2020 for descriptions of the showings and former outcomes). Most often the quartz veins had been intercepted at a depth of 5 to 10 metres down gap. The common core restoration for all the program was 74%; gap DHTD-30 was discarded on account of very poor restoration. Seen gold was noticed throughout the quartz veins in 4 holes, and on account of the potential for coarse gold within the veins, the intervals with quartz veins weren’t cut up and entire core was submitted for assay.

Drilling confirmed the continuity of a number of of the veins and gold mineralization at depth, nevertheless in some circumstances, veins confirmed little continuity under the floor, on account of both a lenticular vein form or because of fault displacements. As proven in Desk 1, under, roughly half the holes returned intercepts of better than 0.5 g/t gold, with a finest interval of 6.0 metres at 14.53 g/t gold, together with 0.5 metres at 143.50 g/t gold, in gap DHTD-18 at Displaying 1. Gap DHTD-17 intercepted the identical vein nearer to floor, and returned 2.53 g/t gold over 2.95 metres (see Determine 2: https://bit.ly/3nXxPk8 ).

Desk 1. Drill Intercepts >0.5g/t Au.
(Intervals are downhole size, true width to be confirmed with geologic modelling.)

Gap	Displaying		From	To	Interval (m)	Au (g/t)	Description
DHTD-03	1		4.05	4.28	0.23	1.70	gneiss with qz veinlets (VG)
DHTD-05	1		6.50	6.70	0.20	6.57	qz vein
DHTD-06	1		2.06	2.39	0.33	1.07	qz vein
DHTD-09	1		8.00	9.00	1.00	1.43	qz vein
			7.30	8.00	0.70	2.54	qz vein
DHTD-12	1		0.00	1.53	1.53	15.63	qz vein
DHTD-13	1		3.50	4.30	0.80	1.17	gneiss and schist
DHTD-14	1		2.25	2.68	0.43	3.78	gneiss with qz veinlets
DHTD-15	1		1.60	3.80	2.20	0.81	qz vein
			7.51	8.00	0.49	4.01	Mn veinlets in schist
DHTD-16	1		2.00	4.50	2.50	0.53	qz veinlets in saprolite
DHTD-17	1		3.25	6.20	2.95	2.53	qz vein
		*consists of*	3.25	3.75	0.50	14.50	*qz vein*
DHTD-18	1		3.00	9.00	6.00	14.53	qz vein
		*consists of*	7.50	9.00	1.50	56.77	*qz vein*
		*consists of*	8.00	8.50	0.50	143.50	*qz vein*
DHTD-20	1		3.38	3.80	0.42	9.72	gneiss with qz veinlets
DHTD-22	4		1.30	1.85	0.55	1.21	qz vein
DHTD-23	4		9.10	9.55	0.45	2.48	schist with qz veinlets
DHTD-24	4		1.65	2.05	0.40	1.37	qz vein
DHTD-31	2		0.06	2.50	2.44	2.61	qz vein
DHTD-32	2		0.62	3.43	2.81	0.82	gneiss interbedded with schist
			6.60	13.90	7.30	1.06	gneiss interbedded with schist
DHTD-33	2		2.43	6.45	4.02	1.03	gneiss interbedded with schist
		*consists of*	4.20	4.70	0.50	5.31	*qz vein*
DHTD-34	2		1.86	7.75	5.89	0.73	gneiss interbedded with schist plus qz vein
DHTD-35	2		0.12	0.44	0.32	9.33	soil with qz fragments
			1.70	9.45	7.75	6.09	*qz vein and schists*
		*consists of*	3.84	7.00	3.16	11.80	*qz vein*
		*consists of*	7.00	9.45	2.45	3.08	*schist*
DHTD-36	2		12.60	15.17	2.57	7.68	qz vein
			15.17	15.81	0.64	1.17	gneiss
DHTD-37	2		22.75	24.00	1.25	1.49	gneiss
DHTD-38	2		9.00	10.10	1.10	0.58	gneiss
DHTD-39	2		3.36	4.40	1.04	1.16	qz vein and gneiss
DHTD-40	2		9.90	15.00	5.10	1.31	qz vein andgneiss
		*consists of*	12.10	13.05	0.95	3.89	qz vein

IP Survey Particulars and Abstract of Outcomes

Quantec Geoscience Chile accomplished IP and resistivity surveys with each Gradient and Pole-Dipole (“P-DP”) arrays on the Alvaro goal space.

The gradient array lined an space of 4.2 km ² round Showings 1 to 4. Gradient array traces had been spaced each 100 metres using 25 metres dipole receivers. Moreover, two P-DP traces (50 metre dipoles with n-levels 1 to 10) had been accomplished perpendicular to the primary development of mineralization, with a complete size of 4.6 km.

The geophysical surveys had been designed to detect and delineate veins, hydrothermal alteration, faults and lithologic contacts under the two to six metres of soil and saprolite cowl. The outcomes of the Gradient Array surveys had been introduced as plan maps of IP chargeability and resistivity (see Determine 1). P-DP Array surveys had been deployed over key anomalous areas to boost the imaging of potential drill targets. The P-DP outcomes had been introduced as pseudo-sections of chargeability and resistivity, and as 2D inversion fashions presenting cross-sections of the venture space, imaging the bottom to roughly 140 metres depth (see Determine 3: https://bit.ly/38XOFLL ).

Earlier detailed mapping of the trenches indicated that three of the 4 principal showings had a northeast-southwest strike (see Information Launch dated Might 27, 2020 ). The distribution of chargeable response reported by the Gradient Array surveys affirm this district-wide tendency as seen in Determine 1. Though the chargeability values measured throughout the geophysical program are relatively-low (lower than 5 mV/V) they’re adequate to obviously affirm this development. The Firm interprets these chargeable responses to mirror the presence of low however anomalous ranges of disseminated sulphides related to the gold-mineralized vein constructions.

A number of new anomalies had been recognized from the Quantec survey, as detailed under. Excluding the outcrops at Displaying 3, all of the geophysical anomalies detected in these surveys are lined by soil overburden.

The veins at Showings 1 and 4 coincide with chargeable and resistive lineaments detected by the Gradient Array survey, as was anticipated (see Determine 1). The anomalous chargeable and resistive development correlating to Displaying 4 has been traced over 850 metres strike extent. Displaying 1 is centrally situated on a parallel anomalous development delineated by the gradient surveys over 1700 metres of strike extent which stays open to each the northeast and southwest. The same anomalous development has been recognized within the gradient knowledge at a place 250 metres to the northwest of Displaying 4, indicating a future goal of investigation. The southwest parts of those three developments lead into an intensive overburden-covered space of elevated chargeable response coincident with a fancy system of resistive lineaments, indicating the potential for extra exploration targets. This broad chargeable goal space stays open to the west and south.

Displaying 2, the place a number of of the shallow drill holes intersected high-grade gold, coincides with a resistive lineament trending WSW-ENE, which has been delineated by the Gradient Array surveys over 900 metres of strike extent and which stays open to the west. This characteristic displays weak chargeability response. A number of related developments are evident to the north and south of Displaying 2, probably the most conspicuous being a strongly resistive and chargeable east-west lineament detected 250 metres to the south of the displaying in an overburden lined space.

Displaying 3 is an intensive characteristic of anomalous gold responses trending northeast-southwest, as illustrated in Determine 1 and was not examined with the present shallow drilling program. Two chargeable developments have been delineated by the geophysical surveys crossing the Displaying 3 development at a shallow indirect angle. Anomalous gold values have been sampled at positions proximal to the factors of intersection, suggesting a structural relationship with mineralization. Geological mapping within the neighborhood of Displaying 3 suggests the zone of elevated chargeability situated a brief distance to the northwest coincides with sub-outcrops of ferriferous gneiss. Preliminary rock sampling of the uncovered unit returned no gold values, nevertheless, extra investigation is deliberate for the geophysical and geochemical anomalies detected on this space.

The 2 P-DP traces in Determine 3 point out that the chargeable developments evident within the gradient knowledge extent to depths under the utmost depth of the survey. The P-DP 2D fashions will probably be used to interpret native targets, constructions and lithologies and will probably be utilized for planning follow-up work and drill focusing on.

Comply with-Up Program

The Firm is now planning a second, extra detailed, drilling program to each take a look at the brand new geophysical anomalies and to step-out holes round the perfect intercepts reported on this information launch. A minimal of two,000 metres of drilling is predicted to be accomplished by the top of the primary quarter of 2021. The Firm has utilized for a full exploration allow to permit deeper drilling. If these permits are in place, holes may have a depth of roughly 100 metres, in any other case this system will probably be adjusted and holes will probably be deliberate as much as 20 metres depth. The technical staff has additionally began one other regional and detailed discipline program within the southern a part of the concession, the place historic knowledge consists of anomalous gold values of as much as 7.04 g/t gold on the Itayuru goal, roughly 10 km southeast of the Alvaro goal space (see Information Launch dated August 14, 2019 ).

Methodology and QA/QC

Your complete size of the core of each drill gap was sampled. As coarse gold was anticipated to be current within the quartz veins, all of the intervals with quartz vein was sampled 100%. The remainder of the core was lower in half with an electrical noticed. Half of the core was saved within the core packing containers.

The samples had been shipped to ALS (Copiapo, Chile ), an internationally acknowledged assay service with laboratories in Chile and Peru . Samples had been ready on the facility at Copiapo, Chile and assays for gold had been executed in Lima, Peru utilizing fireplace assay with an atomic absorption end on 50g aliquots. Samples with +10 g/t Au had been re-assayed by fireplace assay with gravimetric end additionally with a 50g aliquot. A 33 factor evaluation was carried out by a four-acid digestion and detection by ICP-OES.

Golden Arrow follows trade commonplace procedures for the work carried out on Tierra Dorada Mission, with a high quality assurance/high quality management (QA/QC) program. Clean, duplicate and commonplace samples had been inserted in every batch of samples despatched to the laboratory for evaluation. Golden Arrow detected no vital QA/QC points throughout evaluate of the information.

Certified Individuals

The outcomes of the Firm’s exploration program have been reviewed, verified (together with sampling, analytical and take a look at knowledge) and compiled by the Firm’s geological employees underneath the supervision of Brian McEwen , P.Geol., VP Exploration and Growth to the Firm. Mr. McEwen is a Certified Individual as outlined in Nationwide Instrument 43-101, and has reviewed and authorised the contents of the information launch.

About Golden Arrow :

Golden Arrow Resources Corporation is a mining exploration firm with a profitable monitor report of making worth by making valuable and base metallic discoveries and advancing them into distinctive deposits. The Firm is nicely leveraged to the worth of gold, having monetized its Chinchillas silver discovery into a big holding in valuable metals producer SSR Mining Inc.

Golden Arrow is actively exploring a portfolio that features a new epithermal gold venture in Argentina , a district–scale frontier gold alternative in Paraguay , a base-metal venture within the coronary heart of a number one mining district in Chile and greater than 180,000 hectares of properties in Argentina .

The Firm is a member of the Grosso Group, a useful resource administration group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

“Joseph Grosso”

_______________________________
Mr. Joseph Grosso ,
Govt Chairman, President and CEO

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This information launch could include forward-looking statements. Ahead-looking statements handle future occasions and circumstances and due to this fact contain inherent dangers and uncertainties. All statements, aside from statements of historic reality, that handle actions, occasions or developments the Firm believes, expects or anticipates will or could happen sooner or later, together with, with out limitation, statements concerning the Firm’s plans for its mineral properties; the Firm’s enterprise technique, plans and outlooks; the longer term monetary or working efficiency of the Firm; and future exploration and working plans are forward-looking statements.

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