Golden Arrow Resources Expands Its Hold on San Pietro Copper-Gold-Cobalt Project
Golden Arrow Resources Expands Its Hold on San Pietro Copper-Gold-Cobalt Project
Golden Arrow Resources Corporation has shared exciting news regarding its San Pietro project. As of April 29, 2025, the company announced that Sociedad de Servicios Andinos SpA (SSA) has proceeded with the option to acquire a notable stake in New Golden Explorations Chile SpA (NGE). This move marks a significant step in the ongoing development and exploration activities in one of Chile’s emerging mining districts.
Option Exercise Details
The option, which was previously announced, grants SSA the rights to acquire 333 shares, representing approximately 25% of the total shares issued in NGE. To activate this option, SSA has contributed a total of $5 million, which comprises a blend of cash, services, and a promissory note. Specifically, this includes:
- - $2 million in cash;
- - $3 million worth of services tied to drilling, machinery operations, and truck rentals, essential for advancing field activities at the San Pietro project;
- - A promissory note valued at $18,078.97 to cover the remaining services.
Interestingly, SSA operates at arm's length from Golden Arrow, ensuring a straightforward transaction without the need for finder’s fees.
About the San Pietro Project
Situated on nearly 18,500 hectares and approximately 100 kilometers north of Copiapo, the San Pietro project encompasses a substantial area in a location recognized for its mining potential. The project lies in close proximity to major mining operations such as Capstone Copper’s Manto Verde Mine, indicating a vibrant environment for copper and cobalt exploration. Though the area is known for its iron oxide-copper-gold (IOCG) deposits, proximity to existing mines doesn’t guarantee success at the San Pietro project, emphasizing the inherent risks in this sector.
Sociedad de Servicios Andinos SpA
SSA, based in Copiapó, specializes in diamond drilling, heavy equipment services, and logistical support. Its parent company, AGV GROUP, is a prominent player in mining services in Argentina, maintaining a productive enterprise that spans ten years of partnership with Grupo Grosso companies, including Golden Arrow.
Golden Arrow’s Strategic Vision
Golden Arrow Resources Corporation is renowned for its successful exploration endeavors, focusing on precious and base metals. With its flagship San Pietro project and a portfolio extending across nearly 125,000 hectares in Argentina, the company is poised to leverage its exploration expertise further. As a member of the Grosso Group, known for pioneering resource management in Argentina since 1993, Golden Arrow continues to strengthen its foothold in the mining industry with promising projects like San Pietro.
In light of these developments, the prospects surrounding the San Pietro project seem to be gaining momentum. Investors and industry watchers will undoubtedly be keen to see how this situation develops, given the copper-cobalt market's significance in current economic trends. As Golden Arrow progresses in its exploration and operational activities, further updates are expected to provide clarity on the project's potential outcomes.
Conclusion
The exercise of the option at the San Pietro project underscores Golden Arrow Resources Corporation's commitment to expanding its footprint in a crucial mining region. With both cash and service contributions solidifying SSA’s involvement, the project’s future looks promising, albeit with the usual uncertainties endemic to the mining sector. Stakeholders will continue to monitor developments closely as the company aims to unlock the potential of its valuable resources.
Topics Business Technology）
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