Loading ...Vancouver, BC / TNW-Accesswire / October 1, 2015 / Golden Arrow Resources Corporation (TSX-V: GRG, FRA: GAC (WKN: A0B6XQ), “Golden Arrow” or the “Company”) is pleased to announce that it has entered into a business combination agreement (the “Agreement”) with Silver Standard Resources Inc. (TSX-SSO; NASDAQ — SSRI, “Silver Standard”) which contemplates the joint development of Golden Arrow’s Chinchillas project and an agreement to combine the producing Pirquitas Mine and the Chinchillas project, located approximately 35 kilometres apart in Jujuy Province of Argentina, into a single new operation.
Subject to an 18-month period of pre-development activities (the “Preliminary Period”), Silver Standard will have the right to commence a business arrangement that will see the Pirquitas Mine and the Chinchillas project combined into a 75% (Silver Standard) 25% (Golden Arrow) jointly owned mining business, with Silver Standard assuming the role of operator.