Monday, 23rd April 2007 (2123 views)

The Poncha gold-copper project, located in the San Juan province of Argentina, is to be the focus of a ten to 12 hole diamond drill campaign by Golden Arrow.

Already commenced, the programme is utilising two diamond drill rigs which, the firm hopes, will prove to "facilitate a more rapid and cost-effective programme".

This latest move to begin the drilling work at Poncha follows an option agreement that was reached on April 10th with Teck Cominco Argentina - subsidiary of Teck Cominco Limited - that allows Golden Arrow to earn 100 per cent interest.

According to Golden Arrow, work on the site by Teck Cominco as unearthed the possibility that the area could play host to a "large gold-mineralised hydrothermal system" in the north.

Sampling conducted at Poncha has discovered gold grades of 4.7 grams per tonne as well as 7,200 parts per million of copper and there is also a "structural and breccia-related higher-grade gold target in an epithermal setting" that is located a couple of kilometres away.

 

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