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Golden Arrow Resources chairman says Chinchillas integration on schedule and on budget; reassures investors

Puna is a joint venture that combines the Chinchillas project with SSR's producing Pirquitas operation in Argentina
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Golden Arrow's chairman gave an update Wednesday

Golden Arrow Resources Corp (CVE:GRG) told investors that the integration of the Chinchillas deposit in Argentina with Pirquitas was advancing on schedule and on budget.

This is part of the company's Puna Operations Inc's joint venture with SSR Mining.

Puna, a joint venture that combines the Chinchillas project with SSR's producing Pirquitas operation in Argentina, was formed in May last year.

In an update from executive chairman Joseph Grosso, he said: "At the outset, I would like to reassure our investors that the recent market activity does not reflect the fundamentals of Golden Arrow."

Shares are down around 5% today at $0.27 and have slipped about 40% in the last month.

Grosso added: "I would like to note that Golden Arrow has committed the bulk of its treasury and the line of credit provided by SSR to ensure its share of capex [capital expenditure] requirement is fully funded," said Grosso.

"Further, the company's exploration arm, New Golden Explorations Inc., will continue with its exploration objectives. The company's skilled technical team has a comprehensive list of projects with new discovery potential.

"All exploration work will be funded directly by New Golden through new venture capital sources.



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