Issue link: http://resourceworld.uberflip.com/i/661612
10 www.resourceworld.com A P R I L / M A Y 2 0 1 6 Argentina, and a 50% stake in the Project Corridor copper-gold-molybdenum joint- venture in Chile with teck Resources Ltd. [TCK.B-TSX; TCK-NYSE]. Goldcorp looks to juniors as a means to diversify its grassroots opportunities and spread the risk of exploration. "We're very much like portfolio managers and we're trying to sufficiently diversify," Garofalo told Resource World. "The portfolio theory tells you to own 10-20 names to properly diversify high risk and that's how we see things." Any projects that fail to meet Goldcorp's standards will be deselected, while the successful ones will be brought into the company's fold once fully de- risked, Garofalo said. The company prefers to work in jurisdictions it knows are repu- table and where it is most confident. Golden Arrow Resources Corp. [GRG- TSXV; GAC-FSE] is an exploration company focused on its Chinchillas silver project in Jujuy, Argentina. It unveiled a unique busi- ness combination agreement with silver standard Resources Inc. [SSO-TSX; SSRI- NASDAQ] on October 1 that contemplates joint development of Chinchillas and com- bining it with Silver Standard's nearby silver-zinc Pirquitas Mine. The arrangement is subject to an 18-month period of pre-development activity. Silver Standard will pay Golden Arrow up to $2 million on completion of certain milestones in this preliminary period and invest up to an estimated $12.6 million, with a minimum expenditure commitment of $4 million. Silver Standard will then have the right to execute amalga- mation and take a 75% stake, with Golden Arrow holding the remainder. On March 3, Golden Arrow unveiled 19 additional drill hole results from its Phase V campaign at Chinchillas. Highlights included: hole CGA-275, which returned 854 g/t silver from 14-28 metres and hole CGA-277, which intersected from 125 g/t silver, 1.3% lead and 0.7% zinc from 17-43 metres; and hole CGA-278, which included 106 g/t silver, 0.8% lead and 0.5% zinc. Guyana Goldfields Inc. [GUY-TSX] is an exploration and emerging producer focused on Guyana. The first sale of refined product from its 100%-owned Aurora Mine stood at 1,400 ounces gold and was sold at an average realized price of $1,179/ oz on October 29. It announced year- end 2015 results on March 10, with the company noting it had produced 35,901 ounces gold for 28,850 ounces gold sold at an average realized price of $1,079/oz. Sales generated $31 million in gross pre-commercial production revenue. Net income for 2015 stood at $20.1 million, which compares with a net loss of $12.8 million for 2014. Almost $29 million was recognized in deferred tax assets during Q4 and related to tax losses available to the project and corresponding income-tax recovery. Guyana estimates 2016 produc- tion of between 130,000 and 150,000 ounces gold. On January 14, it announced an updated mineral reserve for Aurora, with total proven and probable standing at just over 32.2 million tonnes at 2.94 g/t gold and just over 3.04 million ounces. Kaizen Discovery Inc. [KZD-TSXV; CCNCF-OTC] explores and develops proj- ects with an eye to the Japanese industrial sector. It wholly owns the Pinaya cop- per-gold project in Peru's provinces of Caylloma and Lampa. The Western and lundingold.com TSX, Nasdaq Stockholm: LUG Fruta del Norte One of the largest and highest grade undeveloped gold projects in the world Building a New Leading Gold Company