Report Highlights
➢ GRG has completed a maiden resource estimate on its flagship San Pietro copper-gold-iron-cobalt project in Chile, the largest copper-producing nation in the world.
➢ San Pietro is located in between three copper projects operated by Capstone Copper (TSX: CS/MCAP: $6.4B), including an operating open-pit mine.
➢ The company has delineated a substantial inferred resource totaling 4.4 Blbs of CuEq at 0.41%. We believe San Pietro has significant resource expansion potential, with mineralization open in multiple directions, and 50% of the project area remaining untested.
➢ GRG is planning a phase three drill program in Q3-2025 to explore multiple underexplored targets, and perform infill drilling within the resource area, aiming to potentially identify higher-grade zones, and upgrade the current resource estimate to the measured and indicated categories.
➢ With copper trading near record highs, we anticipate an increase in M&A activity over the next 12 months, as larger companies target juniors to expand their portfolios. We remain bullish on near-term prices due to escalating geopolitical and trade war risks.
➢ Upcoming catalysts include phase three drilling, and ongoing a planned exploration by GRG and its partners on non-core assets.
➢ GRG is trading at $0.005/lb of CuEq vs the comparables average of $0.02/lb, a 71% discount.
*This report and research coverage is paid for and commissioned by Golden Arrow Resources Corporation – See the bottom of this report for other important disclosures rating, and risk definitions. All figures in C$ unless otherwise specified.
