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Argonaut Gold Inc.
Summary
| Project: | El Castillo | |
|---|---|---|
| Deposit: | South Target | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 6/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-6-2017: Argonaut Gold Inc. announces an Exploration/Drilling Update report for its South Target deposit at the El Castillo project. Drilling results incl. 86.9m @ 0.85g/t Au, 16g/t Ag from 1.5m. Toronto, Ontario – (June 1, 2017) Argonaut Gold Inc. (TSX: | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Thomas Burkhart (Internal) | |
| ABSTRACT: | Toronto, Ontario – (June 1, 2017) Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to provide drill results for the South Target area that lies within the 420 hectare mineral concession recently acquired from a wholly-owned subsidiary of Fresnillo Plc (“Fresnillo”) (see press release dated February 23, 2017). The South Target drill program, consisting of 71 reverse circulation (“RC”) drill holes totaling 6,990 metres, tested projected mineralization immediately south of the current El Castillo open pit. The recently announced North Target (see press release dated May 8, 2017) and the South Target drilling programs, totaling 18,530 metres in 146 RC drill holes, were designed to evaluate the economic potential of the recently acquired Fresnillo concession where mineralization is known to extend along a recognized mineral trend that projects beyond the Company’s previous concession limits. The South Target drilling was supported by wide-spaced drilling previously completed by Fresnillo and by mineralized exposures projected south from the El Castillo pit limits. The Company’s objective was to increase drill-hole density within mineralized areas to approximately 35 metre spacing, which is consistent with the current modeling practices at El Castillo. The drill results from the South Target area display strongly oxidized gold bearing rocks with the same chemical and structure characteristics as the El Castillo open pit mine. The combined results of the North and South Target areas show potential to extend the current El Castillo pit limits and extend mine life. | |
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