# Golden Arrow Reports Initial Mineral Resource Estimate for San Pietro Copper-Gold-Iron-Cobalt Project, Chile Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/golden-arrow-reports-initial-mineral-resource-estimate-for-san-pietro-copper-gol--e098007e-1e19-4083-9c66-21c718391083 Original source: https://money.tmx.com/en/quote/GRG/news/5893616023644268/golden-arrow-reports-initial-mineral-resource-estimate-for-san-pietro-copper-gol Publisher: tmx Original announcement: 2025-02-28T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Golden Arrow Resources Corporation - Ticker: GRG - Exchange: TSX - Region: Chile - Primary commodity: Copper - Secondary commodities: Gold, Iron ore, Cobalt - Document categories: Resource update - Extracted: 2026-08-23 15:09:51 UTC Narrative sentiment: 0.30 · Bullish ## Minestarters Atlas summary Golden Arrow Resources has announced an initial Inferred Mineral Resource Estimate for its San Pietro Copper-Gold-Iron-Cobalt Project in Chile. The estimate outlines 492 million tonnes containing significant quantities of copper, gold, iron, and cobalt, marking a substantial first step for the project. However, the entire resource is currently classified as Inferred, and further drilling and metallurgical work are planned to upgrade confidence and optimize recoveries. Reasoning: This is the first mineral resource estimate for the San Pietro project, establishing a substantial Inferred resource of copper, gold, iron, and cobalt. While the tonnage is significant and the polymetallic nature is positive, the 100% Inferred classification and relatively low copper and gold grades temper the immediate impact. The company has a clear plan for future work to upgrade the resource and conduct further metallurgical testing. - Positive factor: Maiden resource estimate establishes a significant polymetallic resource base. - Positive factor: Large tonnage \(492 Mt\) provides scale for future development. - Positive factor: NI 43-101 compliant and QP/CP signed, indicating adherence to industry standards. - Positive factor: Polymetallic nature \(Cu, Au, Fe, Co\) offers diversification. - Negative factor: The entire resource is in the Inferred category, indicating lower geological confidence. - Negative factor: Copper and gold grades are relatively low for an IOCG deposit. - Negative factor: Metallurgical testing for iron and cobalt recoveries is preliminary, relying on correlations and peer data. - Negative factor: No Measured or Indicated resources yet, limiting economic study potential. Facts used in scoring: 4 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: This is the first mineral resource estimate for the San Pietro project, as stated in the title and body. Evidence · text > first mineral resource estimate \("MRE"\) for the San Pietro Copper-Gold-Iron-Cobalt Project **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The entire resource is reported in the Inferred category. Evidence · text > 492 million tonnes at an average grade of 0.23% Cu, 0.05 g/t Au, 14.43% Fe & 99 ppm Co in the Inferred category **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: The resource estimate only includes the Inferred category, with no Measured or Indicated resources. Evidence · text > 492 million tonnes at an average grade of 0.23% Cu, 0.05 g/t Au, 14.43% Fe & 99 ppm Co in the Inferred category **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: The news release explicitly states that the Mineral Resource Estimate was prepared under the direction of and approved by independent Qualified Persons. Evidence · text > Susan Lomas , P.Geo., of Lions Gate Geological Consulting Inc. and Bruce Davis Ph.D., F.AusIMM, Consultant. Both Ms. Lomas and Dr. Davis are independent Qualified Persons as defined in NI 43-101. The QP's have reviewed and approved the technical content of this news release. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is stated to conform to NI 43-101 standards and guidelines. Evidence · text > The mineral resources disclosed in this press release conform to NI 43-101 standards and guidelines **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource is reported using a clear 0.30% CuEq cut-off grade. Evidence · table > 0.30 Context: 492 **Metal Equivalent Opaque** Polarity: negative Story-specific tag Definition: Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Why it applies: While the CuEq formula is provided, the specific metal prices and recoveries used for the CuEq calculation differ from those used for the pit shell generation, which can create confusion. Evidence · table > CuEq values are based on copper, gold, cobalt and iron values using metal prices of US$4.10/lb Cu, US$2,500/oz Au, US$15/lb Co and US$105/lb Fe and metallurgical recovery values of 90% for Cu, 65% for Au, 80% for Co and 40% for Fe. The resulting formula is CuEq=Cu%+\(Aug/t \*0.705\)+\(Co%\*3.252\)+\(Fe%\*0.008\) ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/golden-arrow-reports-initial-mineral-resource-estimate-for-san-pietro-copper-gol--e098007e-1e19-4083-9c66-21c718391083#fact-resource-facts-0) San Pietro · copper #### Identity - Project: San Pietro - Commodity: copper - Ticker: GRG #### Resource Data - Category: inferred - Tonnes: 492000000 - Grade: 0.23 - Grade Unit: % - Contained Metal: 2470000000 - Contained Unit: lb - Cutoff Grade: 0.3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-02-28T00:00:00.000Z Reasoning: This is the first mineral resource estimate for the San Pietro project, establishing a substantial Inferred resource of copper, gold, iron, and cobalt. While the tonnage is significant and the polymetallic nature is positive, the 100% Inferred classification and relatively low copper and gold grades temper the immediate impact. The company has a clear plan for future work to upgrade the resource and conduct further metallurgical testing. - Positive factor: Maiden resource estimate establishes a significant polymetallic resource base. - Positive factor: Large tonnage \(492 Mt\) provides scale for future development. - Positive factor: NI 43-101 compliant and QP/CP signed, indicating adherence to industry standards. - Positive factor: Polymetallic nature \(Cu, Au, Fe, Co\) offers diversification. - Negative factor: The entire resource is in the Inferred category, indicating lower geological confidence. - Negative factor: Copper and gold grades are relatively low for an IOCG deposit. - Negative factor: Metallurgical testing for iron and cobalt recoveries is preliminary, relying on correlations and peer data. - Negative factor: No Measured or Indicated resources yet, limiting economic study potential. Evidence · table > 0.23 Context: 492 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/golden-arrow-reports-initial-mineral-resource-estimate-for-san-pietro-copper-gol--e098007e-1e19-4083-9c66-21c718391083#fact-resource-facts-1) San Pietro · gold #### Identity - Project: San Pietro - Commodity: gold - Ticker: GRG #### Resource Data - Category: inferred - Tonnes: 492000000 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 770000 - Contained Unit: oz - Cutoff Grade: 0.3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-02-28T00:00:00.000Z Reasoning: This is the first mineral resource estimate for the San Pietro project, establishing a substantial Inferred resource of copper, gold, iron, and cobalt. While the tonnage is significant and the polymetallic nature is positive, the 100% Inferred classification and relatively low copper and gold grades temper the immediate impact. The company has a clear plan for future work to upgrade the resource and conduct further metallurgical testing. - Positive factor: Maiden resource estimate establishes a significant polymetallic resource base. - Positive factor: Large tonnage \(492 Mt\) provides scale for future development. - Positive factor: NI 43-101 compliant and QP/CP signed, indicating adherence to industry standards. - Positive factor: Polymetallic nature \(Cu, Au, Fe, Co\) offers diversification. - Negative factor: The entire resource is in the Inferred category, indicating lower geological confidence. - Negative factor: Copper and gold grades are relatively low for an IOCG deposit. - Negative factor: Metallurgical testing for iron and cobalt recoveries is preliminary, relying on correlations and peer data. - Negative factor: No Measured or Indicated resources yet, limiting economic study potential. Evidence · table > 0.05 Context: 492 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/golden-arrow-reports-initial-mineral-resource-estimate-for-san-pietro-copper-gol--e098007e-1e19-4083-9c66-21c718391083#fact-resource-facts-2) San Pietro · cobalt #### Identity - Project: San Pietro - Commodity: cobalt - Ticker: GRG #### Resource Data - Category: inferred - Tonnes: 492000000 - Grade: 99 - Grade Unit: ppm - Contained Metal: 107000000 - Contained Unit: lb - Cutoff Grade: 0.3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-02-28T00:00:00.000Z Reasoning: This is the first mineral resource estimate for the San Pietro project, establishing a substantial Inferred resource of copper, gold, iron, and cobalt. While the tonnage is significant and the polymetallic nature is positive, the 100% Inferred classification and relatively low copper and gold grades temper the immediate impact. The company has a clear plan for future work to upgrade the resource and conduct further metallurgical testing. - Positive factor: Maiden resource estimate establishes a significant polymetallic resource base. - Positive factor: Large tonnage \(492 Mt\) provides scale for future development. - Positive factor: NI 43-101 compliant and QP/CP signed, indicating adherence to industry standards. - Positive factor: Polymetallic nature \(Cu, Au, Fe, Co\) offers diversification. - Negative factor: The entire resource is in the Inferred category, indicating lower geological confidence. - Negative factor: Copper and gold grades are relatively low for an IOCG deposit. - Negative factor: Metallurgical testing for iron and cobalt recoveries is preliminary, relying on correlations and peer data. - Negative factor: No Measured or Indicated resources yet, limiting economic study potential. Evidence · table > 99 Context: 492 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/golden-arrow-reports-initial-mineral-resource-estimate-for-san-pietro-copper-gol--e098007e-1e19-4083-9c66-21c718391083#fact-resource-facts-3) San Pietro · iron\_ore #### Identity - Project: San Pietro - Commodity: iron\_ore - Ticker: GRG #### Resource Data - Category: inferred - Tonnes: 492000000 - Grade: 14.43 - Grade Unit: % - Contained Metal: 157000000000 - Contained Unit: lb - Cutoff Grade: 0.3 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-02-28T00:00:00.000Z Reasoning: This is the first mineral resource estimate for the San Pietro project, establishing a substantial Inferred resource of copper, gold, iron, and cobalt. While the tonnage is significant and the polymetallic nature is positive, the 100% Inferred classification and relatively low copper and gold grades temper the immediate impact. The company has a clear plan for future work to upgrade the resource and conduct further metallurgical testing. - Positive factor: Maiden resource estimate establishes a significant polymetallic resource base. - Positive factor: Large tonnage \(492 Mt\) provides scale for future development. - Positive factor: NI 43-101 compliant and QP/CP signed, indicating adherence to industry standards. - Positive factor: Polymetallic nature \(Cu, Au, Fe, Co\) offers diversification. - Negative factor: The entire resource is in the Inferred category, indicating lower geological confidence. - Negative factor: Copper and gold grades are relatively low for an IOCG deposit. - Negative factor: Metallurgical testing for iron and cobalt recoveries is preliminary, relying on correlations and peer data. - Negative factor: No Measured or Indicated resources yet, limiting economic study potential. Evidence · table > 14.43 Context: 492 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.