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Argo Gold Identifies High-Grade Gold and Mineralized Trends at Uchi Gold Project

Nov 22, 2021

Argo Gold Inc.'s 2021 exploration program extended the strike length of the mineralized zones at Woco to 400 metres, at Northgate to 500 metres and at Raingold a new zone of mineralization was identified 100 metres east of Raingold. At Raingold, channel sample results are pending from the south extension zone stripped for 280 metres along a shear zone with abundant sulphides. Exploration drilling to date at the Uchi Gold Project has tested mineralization to depths of 60 to 120 metres with the exception of Woco drill hole AGU-19-007 that intersected 7.4 g/t Au over 0.5 metres was intercepted at depth of about 200 metres.


At Northgate, the zone of known gold mineralization was extended to 500 metres from 225 metres with 15 metres of strike length of very high-grade gold exposed right at surface. Drill Hole AGN-21-024 intersected 26.26 g/t Au over 2.65 metres, Drill Hole AGN-21-025 intersected 9.24 g/t Au over 0.95 metres and Drill Hole AGN-21-30 located 225 metres northeast of the Northgate high-grade gold mineralization intersected 22.7 g/t Au over 1.15 metres.  The 15 metres of high-grade gold in surface channel sampling at Northgate includes 43.5 g/t Au over 1.65 metres, 40.1 g/t Au over 1.65 metres37.7 g/t Au over 1.6 metres and 77.5g/t Au over 0.65 metres.


At Raingold, there is surface high-grade gold with 2021 channel sampling results of 32.84 g/t Au over 2.5 metres widthChannel sample results are pending from the south extension zone stripped for 280 metres along a shear zone with abundant sulphides. 2021 drill results identified the mineralized zone 100 metres north of the high-grade gold along with a second mineralized trend of anomalous gold in breccia interpreted to be a new mineralized structure 100 metres east the HST trend which hosts the high-grade Raingold mineralization. The 15 metres of high-grade gold in surface channel sampling at Raingold includes 31.2 g/t Au over 2.3 metres, 29.8 g/t Au over 1.9 metres, 10.3 g/t Au over 1.9 metres and5.4 g/t Au over 2.65 metres. 


Drill hole AGW-21-020 tested the Woco Vein from the east looking for footwall structures and intersected with 1.92 g/t Au over 1.1 metres at 121 metres. Drill hole AGW-21-021 was a 200-metre step-out south of the high-grade Woco Vein and intersected an altered zone of quartz, epidote, and tourmaline and anomalous gold of 0.45 g/t Au over 1 metre at 78.85 metres. A 3.13 m wide lamprophyre dike located near the mineralized/altered zone and indicates the deep-rooted nature of the high-grade Woco vein system. Drill results at the Woco Zone also include 132.3 g/t Au over 1.8 metres at 88 metres and 20.4 g/t Au over 0.5 metres at 107 metres. Surface high-grade gold mineralization from channel sampling at Woco include 10.4 g/t Au over 1.1 metres and 58.2 g/t Au over 0.55 metres.

Uchi Break Exploration

The Uchi Break is located 230 metres west of the Woco mineralized trend. Drill hole AGU-21-019 tested a gold biogeochemical anomaly located on the Uchi Break and intersected 0.45 g/t Au over 1.4 metres in massive and semi-massive sulphides that were intersected at 75.1-75.8 metres and 76.9-80.4 metres. This drill hole is 190 metres south of AGU-19-009 that intersected 0.35 g/t Au over 3.6 metres in similar massive and semi-massive sulphides of pyrite and pyrrhotite. 

Woco-Northgate Corridor 

Three drill holes tested the structural corridor between the high-grade Woco Vein and the high-grade Northgate zone that also had a biogeochemical anomaly. Both AGU-21-22 and AGU-21-23 identified quartz veins and quartz/carbonate veinlets with disseminated sulphides near the end of the drill holes along the strike extension of the lithostructural trend that hosts the Woco and Northgate Zones. In addition, drill holes AGU-21-22 and AGU-21-32 intersected multiple zones of sulphide-bearing rocks with anomalous gold assays. The sulphide mineralization consists of abundant pyrite and pyrrhotite with minor chalcopyrite, sphalerite and galena.

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