Golden Arrow Resources Corp. (GRG:TSX.V; GARWF:OTCQB; G6A:FSE) kicked off its initial exploration at San Pietro and continues logging historical drill core data on the project, reported Marino Pieterse, publisher and editor of Goldletter International, in a June 16 Investment Alert.
Also, Pieterse noted, the mining explorer is currently undervalued at $13.9 million ($13.9M), making it an ideal time for investors to jump into it or bolster their existing position in it. Pieterse's price target on Golden Arrow is CA$0.50 per share.
"Golden Arrow, in my view, is offering a high investment leverage potential," he added.
Over the next six months, the British Columbia-based mining company plans to carry out detailed surface mapping and sampling, trenching, and updated geophysics work at San Pietro, now its flagship project, beginning at the Rincones target.
"The 2022 work program will work toward a resource delineation program at Rincones while continuing to evaluate and advance other areas of the property," Pieterse wrote.
Rincones was the primary focus of historical exploration, with 47 holes previously drilled there, Pieterse noted. One highlight intercept from that work is 28 meters (28m) of 1.14% copper, 0.12 grams per ton gold, and 335 parts per million of copper. Today, Rincones boasts near-term resource potential and upside.
Along with Rincones, Golden Arrow identified three iron oxide-copper-gold targets by compiling and analyzing historical data from 34,000m of drilling, 1,000-plus surface samples, and numerous geophysical surveys. The targets are Colla, 2.3 kilometers (2.3 km) southwest of Rincones; Rodeo, 7.5 km northwest of Rincones; and Radiss Norte, due north of Rincones.
Pieterse reiterated that San Pietro is an 18,448-hectare project in Chile's Atacama region. The project is flanked by two iron oxide-copper-gold projects owned by Capstone Copper, Mantoverde on the west side, and Santo Domingo on the east. Previous owners of San Pietro carried out nearly $15M worth of exploration work there.
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