Latest news with #MogoteCopper-Gold
Yahoo
25-06-2025
- Business
- Yahoo
Golden Arrow signs option deal for Argentinian copper-gold project
Mining exploration company Golden Arrow Resources has finalised an option agreement with Latin Metals to acquire up to a 100% interest in the Huachi copper-gold property in Argentina. The agreement marks Golden Arrow's third project to be optioned in Argentina. As per the definitive option terms, Latin Metals can earn a 75% interest in Huachi over four years. This requires $1m (C$1.37m) in exploration expenditure and $1m in cash payments to Golden Arrow. Upon securing a 75% interest, Latin Metals has a 90-day top-up right allowing for the acquisition of the remaining 25% for a $2m cash payment. The payment must be made to Golden Arrow within the specified period. If Latin Metals declines the top-up right, a joint venture will be formed in which Latin Metals will hold 75% stake, with Golden Arrow retaining a 25% interest. Both parties will fund future expenditure based on their shares. Should a party's interest fall below 15%, it converts to a 1% net smelter return (NSR) royalty. Future funding will be proportional to each party's stake. This ensures continued collaboration on the Huachi project. Exploration work and cash payments will begin after environmental permit approval. The permit will authorise drilling and other exploration activities. Huachi spans 3,500 hectares (ha) and is prospective for copper and gold. It forms part of Golden Arrow's 120,000ha portfolio in Argentina. Located in San Juan Province, the Huachi property is adjacent to Latin Metals' Esperanza copper-gold project. Golden Arrow president and CEO Nikolaos Cacos said: 'This agreement marks the third strategic option agreement we have signed in recent years as part of our efforts to advance our non-core assets. 'Success on any of these projects is good for Golden Arrow and our shareholders. Huachi now joins our Mogote Copper-Gold project that is under option to Mogotes Metals as part of their Filo Sur project, and our Caballos Copper-Gold project that is under option to Hanaq Argentina.' "Golden Arrow signs option deal for Argentinian copper-gold project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Cision Canada
24-06-2025
- Business
- Cision Canada
Golden Arrow Options Third Project in Argentina
VANCOUVER, BC, June 24, 2025 /CNW/ - Golden Arrow Resources Corporation (TSXV: GRG) (FSE: G6A) (OTCQB: GARWF), (" Golden Arrow" or the " Company") is pleased to announce that it has signed the definitive option agreement (the " Agreement") with Latin Metals Inc. (" Latin Metals") granting the option to acquire up to a 100% interest in the Company's Huachi property (" Huachi"). Huachi is a 3,500-hectare copper-gold property that is part of Golden Arrow's portfolio of over 120,000 hectares of prospective properties in Argentina. The Huachi project is located in San Juan Province and is immediately contiguous with Latin Metals' Esperanza copper-gold project. Golden Arrow President & CEO Nikolaos Cacos commented, " This agreement marks the third strategic option agreement we have signed in recent years as part of our efforts to advance our non-core assets. Success on any of these projects is good for Golden Arrow and our shareholders. Huachi now joins our Mogote Copper-Gold project that is under option to Mogotes Metals as part of their Filo Sur project, and our Caballos Copper-Gold project that is under option to Hanaq Argentina S.A." Definitive Option Terms Latin Metals has the right to acquire an initial 75% interest in Huachi by completing US$1,000,000 in exploration expenditures and US$1,000,000 in cash payments to Golden Arrow over a four-year period. Upon earning the 75% interest, Latin Metals has a Top-Up Right to acquire the remaining 25% interest (for an aggregate 100% ownership) by paying US$2,000,000 in cash to Golden Arrow within 90 days (Table 1). Should Latin Metals choose not to exercise the Top-Up Right, the parties will form a joint venture (" JV") with Latin Metals holding 75% and Golden Arrow 25%. Each party will fund its pro-rata share of future expenditures. A party diluting below 15% will have its interest converted to a 1% net smelter return (" NSR") royalty. Work commitments and cash payments commence on the first anniversary of approval of the environmental permit (Declaración de Impacto Ambiental or " DIA"), approving the start of exploration activities including drilling (the " Commencement Date"). Table 1. Commercial Terms for the Huachi Property, San Juan Province About Golden Arrow: Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in Chile, and a portfolio that includes nearly 125,000 hectares of prospective properties in Argentina. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993. For additional details please see the Company's website and its filings on ON BEHALF OF THE BOARD Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the terms of the Definitive Agreement, the exercise of the Option and the timing thereof; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company are forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with obtaining necessary regulatory approvals; risks associated with technical difficulties in connection with exploration and mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.
