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Argonaut Gold Inc.
Summary
| Project: | La Colorada | |
|---|---|---|
| Deposit: | El Creston | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 10/3/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-10-2016: Argonaut Gold Inc. announces an Exploration/Drilling Update report for its El Creston deposit at the La Colorada project. Drilling results incl. 73.2 @ 1.40g/t Au, 15.0g/t Ag from 73.2m. Toronto, Ontario - (October 3, 2016) Argonaut Gold Inc. ( | |
| Resources: | (Not mentioned in this report) | |
| CP/QP: | [Overall Report]: Thomas Burkhart (Internal) | |
| ABSTRACT: | Toronto, Ontario - (October 3, 2016) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce that it has completed a 70 hole reverse-circulation (“RC”) drill program. The program’s primary objective was to confirm historical gold-silver resource estimates for its El Creston gold-silver deposit at the La Colorada Mine located in Sonora, Mexico (Indicated mineral resource of 14.4 million tonnes at 0.618 g/t Au and 12.1 g/t Ag and inferred mineral resource of 2.2 million tonnes at 0.887 g/t Au and 13.3 g/t Ag – see Preliminary Economic Assessment Technical Report with an effective date of October 15, 2011). The La Colorada Mine sequencing plan calls for a series of three pits: La Colorada-Gran Central, El Creston and Veta Madre. The Company is currently mining in the La Colorada-Gran Central pit and the mine plan calls for stripping to begin at El Creston during the fourth quarter of 2016. The Company’s objectives with this drill program were to both confirm the mineral resource completed by previous mine operators during the 1990s and also to drill test areas where mineralization could be projected beyond the known resource. The drill program consisted of 70 RC holes totaling approximately 10,600 metres. Pete Dougherty, President and CEO commented: “The results of the drill program are very encouraging as they not only show confirmation of the known resource but also show greater widths and higher grades which bolster our excitement about the upside at La Colorada as we look to start mining the El Creston pit later this year.” | |
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