Golden Arrow Resources Corporation (TSX-V: GRG) entered into a binding letter of intent outlining an option to acquire a 75% undivided interest in the Libanesa silver-gold project from Mirasol Resources Ltd. (TSX-V: MRZ).
Golden Arrow may exercise the option by incurring certain exploration expenditures and making staged cash payments over six years.
Cerro Plomo, the principal target at Libanesa, is characterized by a mineralized Au/Ag hydrothermal breccia. Trench results include:
6m @ 0.8 g/t Au, 243.8 g/t Ag and 0.4% P0062
11m @ 1.21 g/t Au, 13.5 g/t Ag and 1.4% Pb
The 14,500ha Ag-Au (Pb) Libanesa project is in Santa Cruz province, at the north eastern margin of the Deseado Massif.