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Argonaut Gold Inc.
Summary
| Project: | La Colorada | |
|---|---|---|
| Deposit: | La Colorada | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 2/16/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-2-2017: Argonaut Gold Inc. announces a Resource Estimation report for its La Colorada deposit at the La Colorada project. Annual update of mineral resource at La Colorado. Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is p | |
| Resources: | (Resource): 29.7Mt @ 0.59g/t Au, 10.4g/t Ag (Ind.) and 2.4Mt @ 0.82g/t Au, 12.0g/t Ag (Inf.) | |
| 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 M&I Resource and Inferred Resource used for La Colorada 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 NI 43-101. The Mineral Resource update used a gold price of $1,400 and a silver price of $20. The gold equivalent cutoff grade varied depending on deposit and ranged from 0.086 to 0.13 g/t. | |
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