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Argonaut Gold Inc.
Summary
| Project: | El Castillo | |
|---|---|---|
| Deposit: | El Castillo | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 2/16/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-2-2017: Argonaut Gold Inc. announces a Resource Estimation report for its El Castillo deposit at the El Castillo project. Annual update of ore reserves and minerals resources at El Castillo. Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” | |
| Resources: | (Reserve, P+P): 22.4Mt @ 0.42g/t Au for 0.3Moz Au contained at project | |
| CP/QP: | [Resources]: Mike Lechner, Richard Rhoades (Not stated) | |
| ABSTRACT: | Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to provide its three-year production outlook, updated mineral reserves and resources at its operating mines and a general corporate update. All dollar amounts are expressed in United States dollars unless otherwise specified. Based on life-of-mine planning at December 31, 2016, the Company anticipates it will achieve production growth on a gold equivalent ounce (“GEO”) basis as its San Agustin and La Colorada projects ramp up and lower the overall cost profile. The Company’s goal is to achieve annual all-in sustaining costs per gold ounce sold at or below $950. The Mineral Reserves for El Castillo set out in the above table were updated internally, are valid as of December 31, 2016 and reviewed by Mike Lechner and Richard Rhoades, each of whom is a "qualified person" for purposes of National Instrument 43-101 (“NI 43-101”). The reserve update used a gold price of $1,200. Cut-off grades, depending on rock and ore type, varied from 0.15 g/t for oxide to 0.44 g/t for silicified sulphide. | |
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