"The drill results further demonstrate the potential of a mineral resource expansion at depth at the
Table 1: Selected Results from the Magino Drill Program Targeting High-Grade Gold Mineralization at Depth
Azimuth | Dip | From | To | Length | Grade * | Estimated True | ||
Hole No. | Zone | (metres) | (metres) | (metres) | (Au g/t) | Width (meters) | ||
MA22-132 | Elbow | 157 | -52.6 | 361.0 | 372.0 | 11.0 | 8.3 | 7.7 |
including | 365.1 | 366.3 | 1.2 | 67.0 | 0.9 | |||
and | Central | 157 | -49.8 | 550.0 | 553.0 | 3.0 | 11.6 | 2.1 |
including | 551.0 | 552.0 | 1.0 | 33.4 | 0.7 | |||
MA22-137A | Elbow | 160 | -60.5 | 430.0 | 433.5 | 3.5 | 7.2 | 2.4 |
including | 432.0 | 433.5 | 1.5 | 16.9 | 1.0 | |||
and | Central | 161 | -60.3 | 457.0 | 461.0 | 4.0 | 7.3 | 2.8 |
MA21-111 | 157 | -71.9 | 378.0 | 382.0 | 4.0 | 5.7 | 2.8 | |
including | 378.0 | 379.3 | 1.3 | 16.3 | 0.9 | |||
MA22-134 | #42 Zone | 164 | -51.1 | 581.0 | 594.0 | 13.0 | 7.4 | 9.1 |
including | 589.0 | 590.3 | 1.3 | 24.4 | 0.9 | |||
and | 592.6 | 593.3 | 0.7 | 87.2 | 0.5 | |||
MA22-135 | #42 Zone | 169 | -50.3 | 765.0 | 768.0 | 3.0 | 6.6 | 2.1 |
including | 765.0 | 766.1 | 1.1 | 17.4 | 0.8 | |||
MA22-136 | South S1 | 162 | -46.3 | 582.0 | 591.5 | 9.5 | 6.9 | ** |
including | 582.0 | 587.0 | 5.0 | 11.7 | ** | |||
including | 582.0 | 583.0 | 1.0 | 54.3 | ** | |||
MA22-114 | 145 | -72.5 | 423.5 | 426.0 | 2.5 | 7.2 | 1.8 | |
including | 423.5 | 424.5 | 1.0 | 17.0 | 0.7 | |||
and | South S3 | 144 | -68.4 | 765.0 | 773.0 | 8.0 | 15.0 | ** |
including | 767.0 | 768.0 | 1.0 | 79.4 | ** | |||
MA22-121 | South S3 | 135 | -65.6 | 660.0 | 665.0 | 5.0 | 5.7 | 3.5 |
including | 663.9 | 665.0 | 1.1 | 19.4 | 0.8 | |||
and | South S5 | 137 | -63.7 | 875.0 | 882.0 | 7.0 | 7.5 | 4.9 |
including | 880.0 | 880.8 | 0.8 | 66.2 | 0.5 | |||
and | South S6 | 138 | -63.2 | 925.0 | 926.0 | 1.0 | 46.3 | 0.7 |
MA22-124 | Sandy | 162 | -57.9 | 512.0 | 514.0 | 2.0 | 14.3 | 1.4 |
and | South S3 | 169 | -56.8 | 885.0 | 889.0 | 4.0 | 6.8 | 2.8 |
including | 886.0 | 887.0 | 1.0 | 26.0 | 0.7 | |||
MA22-114W1A | South S3 | 147 | -67.2 | 776.0 | 780.0 | 4.0 | 7.6 | ** |
including | 778.8 | 780.0 | 1.2 | 18.8 | ** | |||
and | South S5 | 147 | -65.8 | 978.0 | 983.0 | 5.0 | 14.3 | 3.5 |
including | 982.0 | 983.0 | 1.0 | 44.2 | 0.7 | |||
MA21-104 | South S5 | 158 | -44.8 | 772.0 | 785.0 | 13.0 | 7.5 | 9.1 |
including | 779.0 | 784.0 | 5.0 | 18.7 | 3.5 |
*Grades uncut
** Downdip intersections with true width unknown at this time
A table of the full drill results as well as maps are available on the Company's website at https://www.argonautgold.com/English/assets/drill-results/default.aspx
The deep drilling programme has now tested the gold mineralization along a 1.5km trend to depths great than 1km.With the Elbow and Central Zones on the eastern margins and the
In the eastern area of the Magino deposit, drilling this year has focused on establishing continuity of higher-grade mineralization in the Elbow and Central Zones (Figure 1). Thirty (30) diamond drill holes totaling 19,300m were completed to infill drill spacing to between 40 and 50 meters. Results demonstrate good continuity of the mineralised zones and as expected an erratic nature to the higher grades. Highlights included hole MA22-132 which returned 8.33 g/t Au over a sample length of 11.0 m from the Elbow zone and 11.61 g/t Au over 3.0 m in the
Second-pass follow-up drilling is in progress to further define gold resources along the
In the
The ongoing program has produced mineralized intervals at depth across the deposit footprint. Argonaut will continue exploratory drilling in the near-mine environment through the end of year and plans to initiate first-pass district exploration drilling during the winter season on several targets to the south and west of Magino. Although many assays are pending, Argonaut expects to release further results in the upcoming months.
Qualified Person Comments / Quality Control Procedures
Technical information and preparation of this press release was supervised and approved by
The Company has a QA/QC program to ensure sampling and analysis of all exploration work is conducted in accordance with the CIM Exploration Best Practices Guidelines. Drill hole is logged, and sample intervals tagged by geologic personnel. Cores are then photographed and sawn in half by experienced geo-technicians, sampled and placed in numbered plastic bags, then gathered in rice bags which are sealed with tamper-proof security tags under the supervision of the project geologists. Independent assay lab personnel retrieve and transport samples to the independent commercial assay lab. The other half of the core is retained for future assay verification and/or metallurgical testing.
For sample analysis, the Company utilizes a system of Quality Assurance/Quality Control (QA/QC) that includes insertion and verification of standards, blanks, and duplicates consistent with industry standards.
Sample preparation and assaying was conducted by
Please see below under the heading "Cautionary note regarding forward-looking statements" for further details regarding risks.
Creating Value Beyond Gold
Cautionary Note Regarding Forward-looking Statements
This press release contains certain "forward-looking statements" and "forward-looking information" under applicable Canadian securities laws concerning the business, operations and financial performance and condition of
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include the availability and changing terms of financing, variations in ore grade or recovery rates, changes in market conditions, changes in inflation, risks relating to the availability and timeliness of permitting and governmental approvals; risks relating to international operations, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, the impact of COVID-19 and the impact and effectiveness of governmental responses to COVID-19, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.
These factors are discussed in greater detail in Argonaut's most recent Annual Information Form and in the most recent Management's Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Argonaut cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Argonaut believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Comparative market information is as of a date prior to the date of this document.
Qualified Person, Technical Information and Mineral Properties Reports
Technical information included in this release was supervised and approved by
About
For more information, contact:
Vice President Exploration & Mine Technical Services
Phone: 775-470-2663
brian.arkell@argonautgold.com
Source:
SOURCE
© Canada Newswire, source