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Argonaut Gold Inc.
Summary
| Project: | Magino | |
|---|---|---|
| Deposit: | Magino | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 1/11/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 11-1-2017: Argonaut Gold Inc. announces an Exploration/Drilling Update report for its Magino deposit at the Magino project. Drilling results incl. 18m @ 12.83g/t Au from 45m. Toronto, Ontario - (January 11, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Thomas Burkhart (Internal) | |
| ABSTRACT: | Toronto, Ontario - (January 11, 2017) Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to release the final assay results for the remaining 123 reversecirculation (“RC”) holes of a 350-hole program completed at its 100%-owned Magino Gold project in Ontario. The RC drilling program was designed to reclassify mineral reserves from Probable to Proven within the proposed starter pit at Magino. These drill results, including those that were released December 5, 2016 (see press release dated December 5, 2016), will be incorporated into a feasibility study, which is expected to be completed during the second half of 2017. Pete Dougherty, President and CEO commented: “One aspect of Magino that has overshadowed its economic potential is the perception that the continuity of gold mineralization, especially the higher grade areas, required further definition. Therefore, we designed a definition-drilling program focused on the initial two years of production with the aim of accomplishing three goals: upgrade this portion of the resource to a Proven Reserve category, test our existing model and de-risk the first two years of production, which is the estimated payback period for the project. The team was able to execute the program on time and on budget, and these results will play a fundamental role in the upcoming feasibility study.” | |
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