TORONTO, Sept. 16, 2020 /CNW/ - Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce drill results from its ongoing drill campaign targeting high-grade mineralization below the proposed open pit mine at its 100% owned Magino property in Ontario, Canada.
Highlights include:
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MA20-043 with 9.0m at 13.4 g/t Au, including 2.0m at 55.6 g/t Au
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MA20-044 with 3.0m at 46.8 g/t Au, including 1.0m at 140.0 g/t Au
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MA20-045 with 12.4m at 10.6 g/t Au, including 2.0m at 48.7 g/t Au
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MA20-046 with 11.0m at 4.4 g/t Au, including 1.0m at 22.8 g/t Au
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MA20-047 with 5.0m at 11.0 g/t Au, including 1.0m at 37.0 g/t Au
Pete Dougherty, President and CEO stated: "The continuous high-grade nature of gold mineralization observed in the Elbow Zone is now also observed in the Central Zone. We continue to encounter high-grade gold intercepts below and adjacent to the proposed open pit, and now believe there is potential for a possible connection between the Elbow and Central Zones that we will be testing. We also have several other high-grade structures to test at depth within and below the current mineral resource model at Magino west of the Elbow and Central Zones."
Recent drilling has focused on testing continuity and depth extent in the Central Zone, a steeply plunging ore shoot dominated by high-grade gold veins within a broad lower gold grade halo. Results indicate the high-grade gold mineralization shows good continuity and extends to depths of at least 750 metres below surface. In addition, the geologic model shows the Central Zone has good lateral continuity and has potential to connect westward to the Elbow Zone.
All Central Zone drill results as well as maps and sections are available on the Company's website at https://www.argonautgold.com/English/assets/drill-results/default.aspx
Brian Arkell, Vice President Exploration stated: "These drill results in the Central Zone were designed to offset an earlier Central Zone intercept MA19-012, which returned 18.1 metres of 8.3 g/t Au, and to test the continuity of gold mineralization in this zone. We are very pleased to see similar gold mineralization plus, gangue minerals, deformation and alteration when compared to the Elbow Zone. These assay results suggest continuity of high-grade gold mineralization exists between the Elbow and Central Zones and will be the focus of further drilling to test this theory."
Figure 1 – Plan Map of Magino showing select drill holes in Elbow and Central Zones
Figure 2 – Long Section of Elbow and Central Zones showing earlier drilling (dark stars) and recent drilling (red stars) discussed herein and other 10+ g/t Au drill hole intercepts (red dots).
About Argonaut Gold
Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production. Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in Nevada, USA. Advanced exploration projects include the Magino project in Ontario, Canada, the Cerro del Gallo project in Guanajuato, Mexico and the Ana Paula project in Guerrero, Mexico. The Company continues to hold the San Antonio advanced exploration project in Baja California Sur, Mexico and several other exploration stage projects, all of which are located in North America.
Argonaut Gold Inc.
Dan Symons
Vice President, Investor Relations
Phone: 416-915-3107
Email: dan.symons@argonautgold.com
