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Argonaut Gold Inc.
Summary
| Project: | Cerro del Gallo | |
|---|---|---|
| Deposit: | Cerro del Gallo | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 12/18/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2019: Argonaut Gold Inc. announces a Pre-Feasibility Study report for its Cerro del Gallo deposit at the Cerro del Gallo project. PFS results incl. post-tax NPV(5%) of $175M, IRR of 20.0%. Toronto, Ontario – (December 18, 2019) Argonaut Gold Inc. (T | |
| Resources: | (Reserve, P+P): 91.8Mt @ 0.56g/t Au, 13.3g/t Ag, 0.09% Cu | |
| CP/QP: | [Resources]: Neb Zurkic (Zurkic Mining Consultants) | |
| ABSTRACT: | Toronto, Ontario – (December 18, 2019) Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce the results of a pre-feasibility study (“PFS”) for its 100% owned Cerro del Gallo project (“CDG” or the “Project”) located 30 kilometres east of Guanajuato City, Guanajuato, Mexico. The National Instrument 43-101 Technical Report will be filed and available within 45 days on www.sedar.com and the Company’s website at www.argonautgold.com. All dollar amounts are expressed in United States dollars, unless otherwise specified. Pete Dougherty, President & CEO stated: “CDG increases Argonaut’s Proven and Probable gold Mineral Reserves by 48% and, through the work detailed in the PFS, provides Argonaut with a low operating cost, heap leach project with an after-tax NPV5% of $175 million at $1,350 gold and $16.75 silver and $222 million at $1,450 gold and $18.00 silver. We believe this PFS demonstrates that CDG is a long-life, low-cost asset in an attractive mining jurisdiction, Guanajuato, Mexico. CDG fits well within our team’s abilities as another open pit heap leach project in Mexico and is an asset that supports our transformation strategy from being a highcost producer to a lower-cost producer.” | |
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