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Golden Arrow walks away from Argentina silver-gold project

Libanesa silver-gold property. (Image courtesy of Mirasol Resources.)

Canada’s Golden Arrow Resources (TSX-V: GRG) has terminated its option to acquire a 75% stake in the Libanesa silver-gold project in Argentina’s Santra Cruz province.

The company said it would focus instead on its new 100% owned San Pietro copper-gold-cobalt project in Chile and other projects in Argentina.

The 14,500-hectare Libanesa project, owned by Mirasol Resources (TSX-V: MRZ), is located about 70 km west from the port of Puerto Deseado and 40 km northwest of Yamana Gold’s Cerro Moro mine.

Golden Arrow conducted a detailed surface work program late last year to refine the previously defined targets and evaluate additional areas within the property.

In March, it kicked off a maiden diamond drilling program. Golden Arrow currently has six projects in Argentina and two in Chile.