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Argonaut Gold Inc.
Summary
| Project: | Magino | |
|---|---|---|
| Deposit: | Magino | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 11/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 8-11-2017: Argonaut Gold Inc. announces a Feasibility Study report for its Magino deposit at the Magino project. Feasibility study results, updated resource estimate and updated reserves. Toronto, Ontario – (November 8, 2017) Argonaut Gold Inc. (TSX: AR) | |
| Resources: | (Reserve, P+P): 59Mt @ 1.13g/t Au for 2.137Moz Au contained at project | |
| CP/QP: | [Resources]: Michael Lechner (Resource Modeling Inc.) | |
| ABSTRACT: | Toronto, Ontario – (November 8, 2017) Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce the results of a feasibility study (“FS”) for its 100% owned Magino gold project (“Magino” or the “Project”) located 40 kilometres northeast of Wawa, Ontario, Canada. A 10,000 tonne per day processing facility was selected for the FS in order to significantly reduce the initial capital requirement. This differs from the 30,000 tonne per day project presented in the January 2016 pre-feasibility study (“PFS”) and provides the Company with a scalable project, which it can fund on a stand-alone basis, if a decision is made to proceed with the Project. The Project is designed to allow future expansion should economics warrant such a decision. A 30,000 tonne per day scenario was also evaluated, is summarized in this press release and will be described in summary in the Other Relevant Data section of the National Instrument (“NI”) 43-101 Technical Report scheduled for filing within 45 days. All dollar amounts are expressed in United States dollars, unless otherwise specified (C$ refers to Canadian dollars). Pete Dougherty, President & CEO stated: “We believe this FS demonstrates that Magino is a strategic, long-life asset in an attractive mining jurisdiction, Ontario. We have been able to appropriately scale the Project to a manageable capital number while providing the optionality of expanding the scale of the project in the future either through operational cash flow during Magino’s life or through a potential joint-venture partnership.” | |
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