Silver Standard Resources Inc. (NASDAQ: SSRI; TSX: SSO) says it has entered into an agreement with Golden Arrow Resources Corp. (TSXV: GRG) under which Silver Standard will explore, evaluate and seek to develop the Chinchillas project in Argentina. Upon election by Silver Standard, a 75%-25% joint venture would be formed in which Silver Standard would be majority partner and operator. The minimum pre-development expenditure commitment is $4 million with total pre-development expenditures estimated at $12.6 million, Silver Standard says. "This agreement provides Silver Standard the potential to extend the Pirquitas mine life, leveraging both existing infrastructure and our workforce to accelerate the development of Chinchillas in a capital-efficient manner. It also gives us exposure to exploration upside at the project," says Paul Benson, president and chief executive officer. "Over the next 18 months, Silver Standard will work with Golden Arrow to assess the technical and economic viability of processing Chinchillas mineralization at the Pirquitas mill.”