Golden Arrow Resources is a member company of the Grosso Group and recently cashed up its treasury through the sale of its net smelter royalty interest in Yamana's Gualcamayo mine. This was the first of three discoveries made by the Grosso Group who have played a pioneering role in the mining industry of Argentina since 1993 when the country opened up to foreign investment. Company Chairman Joseph Grosso received Argentina's 'Mining Man of the Year' award in 2005 for his second discovery, considered among the largest silver deposits in the world. Today, Golden Arrow is focused on advancing its Chinchillas Silver Project, discovered one year ago and located in the Province of Jujuy, Argentina approximately 30kms from Silver Standard's Pirquitas mine. The Company announced its maiden NI 43-101 compliant resource estimate in May 2013.
Keppel Ltd. 1Q 2024 Business Update Presentation Slides
Golden Arrow Resources
1. July 1 2013
GROSSO GROUP MEMBER COMPANY
Chinchillas: A Deposit for the Times
2. Disclaimer
Forward-Looking Statements
This presentation contains forward-looking statements, including but not limited to
comments regarding predictions and projections. Forward-looking statements address
future events and conditions and therefore involve known and unknown risks and
uncertainties. You can identify these statements by forward-looking words such as
"believes", "expects", "plans", "projects", "estimates" and other words of similar meaning.
They can also be identified by the fact that they do not relate strictly to historical or
current facts. Many factors can cause actual results to differ from these forward-looking
statements, including inaccurate assumptions and a broad variety of other risks and
uncertainties, including some that are known and some that are not. The known risks are
discussed in greater detail in the Company’s prospectus under the heading "Risk Factors"
and in our Management Information Circulars which are filed on SEDAR
(www.sedar.com) and with the British Columbia, Alberta and Ontario Securities
Commissions. No forward-looking statement can be guaranteed and actual results may
differ materially from those currently anticipated in such statements. We do not assume
the obligation to update any forward-looking statement.
Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission ("SEC") permits mining companies,
in their filings with the SEC, to disclose only those mineral deposits that a company can
economically and legally extract or produce. We use certain terms in this presentation,
such as "mineral resources", "measured", "indicated", and "inferred resources", that the
SEC guidelines prohibit being used.
The contents of this presentation have been reviewed and approved Mr. Brian McEwen,
P.Geol., VP Exploration and Development of the Company and a Qualified Person as
defined in National Instrument 43-101.
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3. The Grosso Group Advantage
Member company of The Grosso Group
Pioneers in Argentina since 1993
Multiple discoveries made in multiple provinces
Extensive land packages
Impeccable corporate citizenship
Contemporary mining management policies
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5. Chinchillas Silver Project
Indicated Resource:
7.2 Mt @119 g/t Ag, 0.57% Pb, 0.48% Zn
(32.6 million ounces Ag Eq)
Inferred Resource:
21 Mt @ 78 g/t Ag, 0.69% Pb, 0.62% Zn
(72.2 million ounces Ag Eq)
Metallurgy results : up to 98.7% Ag recovery
Great Address: 30km NE of Silver Standard’s
Pirquitas Mine.
10,500m of drilling in Phase I & II, 13,500m total
Drill highlights include 631 g/t Ag, 1.72% Pb,
0.93% Zn over 29 m, and 125 g/t Ag over 108 m.
Option to earn 100% interest (no royalty)
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8. Chinchillas: A Deposit for the Times
✔ OPEN PIT AMENABLE
Lower cost and fast pay back
✔ NEAR SURFACE DEPOSIT
Low pre-stripping and faster to put into production
✔ HIGH GRADE SILVER CORE IN SILVER MANTOS ZONE
Faster cash flow potential
✔ MULTIPLE FLAT LYING MINERALIZED ZONES
Straight-forward mine design equals lower capex
✔ SOFT MATERIAL
Easier extraction and lower costs
✔ QUICK TO MARKET
A potential near term start up
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9. Chinchillas Metallurgy
✔ VERY HIGH RECOVERIES OF SILVER, LEAD, & ZINC (first bench scale testing)
✔ 98.7% RECOVERY OF AG IN STAGE 1 (rougher flotation) and 90% after STAGE 2
(cleaner flotation)
Suggests that a high-grade concentrate can be developed
✔ STANDARD FLOTATION METHODS USED SUCCESSFULLY
Suggests that costs will be predictable and reasonable
✔ CHINCHILLAS LIKELY TO PRODUCE 2 SEPARATE SALEABLE CONCENTRATES: SILVERLEAD, AND ZINC
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10. Resource
Mineral Resource Statement for the Chinchillas Project, May 2013 by Kyle Howie, MAIG and Bruce Davis, FAusIMM
Resource
Class/Zone
Tonnage
Ag
Grade
Pb
Grade
Zn
Grade
Ag Eq
Grade
Ag
(Mt)
(g/t)
(%)
(%)
(g/t)
(Moz)
Pb
Ag Eq
(Mlbs) (MOz)
Zn
(Mlbs)
Ag Eq
(MOz)
Total
Ag Eq
(MOz)
Indicated Resources
Silver Mantos
7.2
118.6
0.57
0.48
141.2
27.4
90.2
2.8
76.0
2.4
32.6
Total
Indicated
Resources
7.2
118.6
0.57
0.48
141.2
27.4
90.2
2.8
76.0
2.4
32.6
Inferred Resources
Silver Mantos
3.3
90.7
0.51
0.43
111.0
9.7
37.5
1.2
31.6
1.0
11.9
Mantos Contact
2.5
78.7
0.71
0.88
113.1
6.3
39.0
1.2
48.4
1.5
9.1
Mantos Basement
8.4
99.5
0.85
0.24
123.0
26.8
157.3
5.0
44.4
1.4
33.2
Socavon del
Diablo
6.8
46.6
0.58
1.1
82.8
10.2
86.7
2.7
164.5
5.2
18.1
Total Inferred
Resources
21.0
78.5
0.69
0.62
107.0
53.0
320.5
10.1
288.9
9.1
72.2
1. Resources in Table 1 are reported at 50g/t Ag equivalent (Ag Eq) cut-off, at $27/oz Ag, $0.85/lb Zn and $0.85/lb Pb at 100% recovery.
2. Silver equivalent calculations were used because of the contribution to revenue that Pb and Zn add to the deposit, especially in the
zinc rich Socavon del Diablo Zone
3. Golden Arrow has not completed an economic evaluation to calculate the cut-off grade. A cut-off grade of 50 g/t Ag Eq is used for
reporting purposes as 50 g/t Ag is utilized by Silver Standard at their Pirquitas Mining operation located 30kms from Chinchillas.
4. Totals may not add correctly due to rounding
5. Resources are classified according to their proximity to sample data locations and are reported, as required under NI 43-101, according
to the CIM Definition Standards for Mineral Resources and Mineral Reserves. Mineral resources, which are not mineral reserves, do not
have demonstrated economic viability. The quantity and grade of reported Inferred resources are uncertain in nature and there has
been insufficient exploration to classify these inferred resources as Indicated or Measured, and it is uncertain if further exploration will
result in upgrading them to an Indicated or Measured category.
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11. Chinchillas Infrastructure
GOOD EXISTING INFRASTRUCTURE means
faster timeline to production
✔ Close to Highway
✔ Power Lines 30 km away
✔ Close to gas line
✔ Access to water
LOGISTICS AND SERVICES makes operating
easier.
✔ Communications available
JURISDICTION BENEFITS
✔ Other existing precious/metal mining
operations
✔ Recent extraction project permitting
means faster time to development
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12. Growth Strategy
A Regional Silver Play in the Making
Grow Chinchillas
Infill drilling to upgrade resources
Step-out drilling to expand
resources
Deep drilling to expand
resources in basement
Strategic acquisitions
Acquire other silver projects
within district
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13. Peer Group Market Valuation
Silver Exploration & Development Company Comparisons
(May 28, 2013)
Location
Status
Price
MC (mm)
EV (mm)
Ag Moz
Ag g/t MC/ Mozs
Tahoe
Guatamala
Scoping Study
$14.71
$2,181
$2,060
404
397
$5.40
MAG
Mexico
Scoping Study
$6.88
$416
$358
154
262
$2.70
Paramount
USA
Pre-feasibility
$1.38
$214
$185
161
8
$1.33
Sabina
Canada
Resource Estimate
$1.16
$202
$55
53
37
$3.81
Bear Creek
Peru
Feasibility
$1.93
$179
$103
571
38
$0.31
Silver Bull
Mexico
Early Exploration
$0.41
$65
$55
83
45
$0.78
Mirasol
Argentina
Resource Estimate
$1.28
$56
$44
28
101
$2.00
Wildcat
USA
Resource Estimate
$0.36
$48
$50
315
36
$0.15
Kootenay
Mexico
Early Exploration
$0.77
$38
$35
47
31
$0.81
Solotoro
Mexico
Early Exploration
$0.23
$13
$8
79
57
$0.16
Kimber
AVERAGE
MEDIAN
Golden Arrow
Mexico
Pre-feasibility
Argentina
Resource Estimate
$0.10
$2.66
$1.16
$0.26
$8
$310.91
$65.00
$11
$5
$268.91
$55.00
$1
59
$177.64
$83.00
80
46
$96.18
$45.00
89
$0.14
$1.60
$0.81
$0.14
EV = MC-Cash
Ag Moz = M+I+I
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14. Valuation of Compatibles
Recent Transactions:
Coeur d’Alene paid $1.76 per ounce for Mirasol’s silver project in Argentina in
December 2012. Includes measured, indicated and inferred.*
Discovery Cost Per Ounce:
Chinchillas discovery cost per ounce of silver is $0.04. This is at the very low end
of the scale in the industry.
*Total resources of 69.7 million ounces, see Mirasol’s 2012-12-11 news release.
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15. Capital Structure
Shares Issued
Warrants
41,823,655
0
Options (avg price = $0.36)
4,150,000
Fully Diluted
45,973,655
Market Capitalization
$9,828,559
Cash and cash equivalent
Ownership (insiders/friends/family)
+$10,000,000
52%
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No prior financing overhang
As of July 1, 2013
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16. A Visionary
Mr. Joseph Grosso is a respected entrepreneur with extensive international business
experience having operated for decades in North/South America as well as in various
European and Asian countries. Of Italian descent and fluent in Italian, English and
Spanish, Mr. Grosso lived in Argentina and Peru where he acquired a very deep
appreciation for Latin culture and successfully developed a vast network of contacts
which have been very beneficial to the associated companies of the Grosso Group.
Mr. Grosso has developed a strong network of long-term national and international
financial relationships. He has experience in financing, marketing strategies and has
successfully formed strategic alliances and negotiated with mining industry majors
such as Barrick, Teck, Newmont, Yamana Gold and Vale S.A.
JOSEPH GROSSO
Executive Chairman
CEO and President
During a family visit to Argentina in 1993, Argentina’s undeveloped geology east of
Chile was the great motivator for Mr. Grosso’s career change into the mining industry
where he became a mining pioneer in Argentina and thereafter discovered the
world-class Gualcamayo project, now in production by Yamana Gold. Mr. Grosso’s
additional discoveries include the world-class Navidad silver deposit now held by Pan
American Silver; the Rio Tabaconas gold project and now he is on the trail of yet
another discovery with the Chinchillas silver project.
Led 3 major discoveries:
Navidad (Pan American Silver)
Gualcamayo (Yamana)
Chinchillas (Golden Arrow)
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17. Key Management
BRIAN McEWEN PGeol. - VP Exploration & Development
Mr. McEwen is a professional geologist with more than 30 years of exploration and production experience in openpit and underground mining projects and operations. The extent of his experience is global in managing numerous
projects in Canada, US, Europe, Asia, Africa and throughout Latin America. Mr. McEwen’s previous roles include
more than a decade with MRDI (AMEC Peru) where he was responsible for project management, economic
resource and reserve calculations for various precious and base metal companies worldwide, including BHP
Billiton, CM Antamina, Teck, Hochschild and Phelps Dodge among others.
MICHAEL E. IANNACONE, CA – CFO & Corporate Secretary
Mr. Iannacone received his Bachelor of Commerce degree (Accounting Major) from the University of British
Columbia in 1978. Upon graduation he joined Coopers and Lybrand, Chartered Accountants (since merged into
PricewaterhouseCoopers) where he completed his articles and obtained his Chartered Accountant designation in
1980. Mr. Iannacone completed five years with Coopers and Lybrand, working in audit related functions, with
primary focus on natural resources and precious metals sector. Since leaving public practice Mr. Iannacone has
worked in various operational and finance related positions for companies (both public and private) in such
industries as software development, mineral resource development, mineral resource/precious metals production,
industrial valve application and marine transportation.
BRUCE SMITH MSc, MEng, AUSIMM – Argentina Exploration Manager
Part of the team that discovered the AngloGold Ashanti's Siguiri Gold Mine, in Guinea and the Castle Gold Corp’s
EL Sastre Gold Mine, in Guatemala, Mr. Smith has spent over 18 years exploring for metals in Australia, New
Zealand, Philippines, West Africa, and Europe including 9 years working in the Americas. He manages the
exploration office in Argentina, and has a BSc and MSc Geology from Otago, New Zealand, and his MEng in
Water and Environmental Resource Management, from Delft Netherlands.
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18. Mandate to Deliver Value
PRIORITY #1: Achieve Value for Chinchillas Silver Deposit
Chinchillas is still an unknown and its’ value is not being reflected in its’ share price.
Marketing programs have commenced in order to target:
ANALYST COMMUNITY – a technical presentation has been created and will be
marketed via our technical team beginning May 13th, 2013. Use as springboard
to enter the institutional market.
BROKER NETWORK – broker meetings have commenced in Vancouver, Calgary,
Toronto and some small communities in Midwest USA.
RETAIL AUDIENCE – four initiatives underway.
1) Social Media channels have been created.
2) Engaged the influential newsletter community.
3) Attending tradeshows and presenting situation.
4) Traditional investor relations functions.
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19. A Timely Opportunity
✔ RARE OPPORTUNITY – current market weakness has created an opportunity to
buy into Chinchillas for free (net of cash position).
✔ LOW RISK – by calculating cash as a percentage of market cap, Golden Arrow
is among the best financed juniors on the TSX venture market.
✔ FAST TRACK TO PRODUCTION – Chinchillas is a “deposit for the times” due to its
several advantages as a near term production candidate.
✔ ANOTHER GROSSO GROUP DISCOVERY - investors get:
Comfort of 20 years operating experience in Argentina.
To invest alongside management & insiders who own 52%.
To participate with a seasoned team with 3 discoveries in the past.
✔ RELATIVE VALUE ANOMALY – Vis-à-vis its peers, GRG is massively discounted and
using recent transactions as a benchmark.
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20. Contact
Corporate Head-Office:
Suite 709, 837 W Hastings ST
Vancouver, BC, Canada V6C 3N6
Telephone: 604 687 1828
Toll free: 1 800 901 0058
Sean Hurd, VP Corporate Communications, Grosso Group
info@goldenarrowresources.com
TSX.V: GRG; Frankfurt: GAC
www.goldenarrowresources.com
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21. APPENDIX A
Chinchillas Option Terms
Golden Arrow may acquire a 100% interest in the Chinchillas project by making
the cash payments to the vendor laid out in the table below:
Timing
On Signing
Cash Payments
($US)
$20,000 PAID
By January 2012*
$80.000 PAID
By July 2012
$150,000 PAID
By July 2013
$250,000
By July 2014
$400,000
By July 2015
$900,000
Total
$1,800,000
Furthermore the Company must make an additional payment of $1.2 million
to the vendor upon the commencement of commercial production
See August 3rd, 2011 Press Release for further details
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22. 1993 Argentina
A vision for a Mining Destination
Joseph Grosso is a respected entrepreneur with
extensive international business experience having
operated for decades in North/South America as well
as in various European and Asian countries.
Mr. Grosso visited family in Argentina in 1993 and
coincidentally met a pre-eminent geologist and
professor at the University of Buenos Aires who
introduced him to the potential of discovering mining
deposits in Argentina. This encounter together with
Argentina’s undeveloped geology east of Chile was
the great motivator for Mr. Grosso’s career change
into the mining industry where he became a mining
pioneer forming the Grosso Group and establishing
Minas Argentina S.A. (MASA) and thereafter
discovering the world-class Gualcamayo project.
The trail of discoveries continues with GRG’s new
flagship Chinchillas Project which has the promise of a
very large deposit in the making and is located in the
province of Jujuy, Argentina within the well-known
Bolivian/Silver/Zinc belt that extends into Argentina.
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23. Why Argentina
Our confidence in Argentina as a mining destination remains strong
with the Company’s management team having successfully
operated there since 1993 with an affinity for the culture, managing
risks and creating positive economies in remote regions. The Grosso
Group member companies have the advantage today of holding
approximately 900,000 hectares of properties (approximately
2,200,000 acres).
Argentina has:
Sprawling discoveries and promising geology
145 mining companies operating in Argentina among them key
industry leaders who continue advancing world-class projects
Investment growth up to 72% in 2012
Superior infrastructure compared to other South American
countries with an educated and skilled labour force
A liberal Mining Code and one of the lowest property holding
fees in South America
Stable government / regulatory systems throughout the country
Improved in ranking by 11 points as evidenced in the Fraser
Institute Mining Survey of 2012 which ranked Argentina as the
second best mining destination after Chile in South America.
New Chinchillas silver discovery in Jujuy Province.
Argentine discovery
Grosso Group property
Grosso Group discovery
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24. APPENDIX C
Key Industry Players in Argentina
Anglo American PLC
Anglogold Ashanti
AREVA Resources Canada Inc.
Argentex Mining Corporation
Barrick Gold
BHP Billiton Limited
Buenaventura
Coeur D’Alene Mines Corp.
FMC Lithium
Glencore Internacional AG
Gold Fields Ltd.
Goldrock Mines Corp.
Goldcorp Inc.
Hochschild Mining PLC
IAM Gold Corporation
International Lithium Corp.
Lumina Copper Corp.
Marifil Mines Ltd.
McEwen Mining Inc.
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Metallurgical Corporation of China Ltd. (MCC)
Minera IRL
Mirasol Resources Ltd.
Newmont
NGEx Resources Inc.
NovaGold Resources Inc.
Orocobre Ltd.
Pan American Goldfields
Pan American Silver Corp.
Patagonia Gold PLC
Silver Standard Resources Inc.
Silver Wheaton Corp.
Stillwater Mining Company
Sumitomo Metal Mining C.O. Ltd.
Teck Resources Limited
TNR Gold Corp.
Vale
Xstrata Copper
Yamana Gold Inc.
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