Argo Gold Exploration Work at the Woco Gold Project

Toronto, Ontario--(Newsfile Corp. - June 22, 2017) - Argo Gold Inc. (CSE: ARQ) ("Argo Gold" or the "Company")  commenced exploration activity at its Woco Gold Project in mid-May 2017. The Woco Gold Project is 100% owned by Argo Gold subject to a 2% NSR.

Exploration activity includes re-establishing access, sampling, geological and structural mapping, and prospecting in conjunction with the compilation and review of historical geological and geophysical data; as well as planning for follow-up drilling. Initial samples were sent for assay in mid-June and results are pending.

The Woco Gold Project is located in Earngey Township northwest of Uchi Lake proximal to the Uchi Lake Deformation Zone in the Birch-Uchi Greenstone Belt. This is 50 kilometers east of Red Lake, Ontario and 1.5 kilometers south of the past-producing Uchi Gold Mine.

Diamond drilling by St. Jude Resources in 1993 (Source: Assessment Files, MNDM) identified high grade gold quartz vein mineralization on a well-identified stratigraphic/structural horizon. Highlights of the drill results are as follows:

Lower "Rich Woco Vein" Intersections

DDH

From (feet)

To (Feet)

Assay
(Oz./ ton Au)

Length (feet)

True Width
(feet)

1

281.5

286.75

1.639

5.25

3.7

4

202.0

213.9

1.890

11.9

3.7

11

339.2

343.1

0.650

5.4

3

12

521.3

524.7

0.389

3.4

1.7

13

722.75

727.0

0.030

4.25

2.1

20

257.0

264.5

0.445

7.5

5.2

21

289.8

294.4

0.400

4.6

3.1

22

259.3

265.3

1.832

6.0

4.3

 

Upper "Weak Woco Vein" Intersections

DDH

From (feet)

To (Feet)

Assay
(Oz./ ton Au)

Length (feet)

True Width
(feet)

2

65.6

67.7

0.141

2.1

1.5

3

99.25

101.8

0.044

2.55

1.5

5

177.7

178.9

0.173

1.2

0.9

6

93.0

94.8

0.057

1.8

1.1

7

96.25

96.75

0.158

0.5

0.3

8

147.9

149.5

0.146

1.6

1.0

10

178.0

180.2

0.482

2.2

1.0

14

233.75

235.6

0.093

1.85

1.3

 

All assays were done by Wawa Assaying in 1993 using a Fire Assay with Gravimetric finish.

St. Jude Resources completed additional drilling in 1994 to test the down-plunge and strike extension of the vein (Source: Assessment Files, MNDM); highlights of these results are as follows:

Woco Down-Plunge and Strike Extension Intersections

DDH

From (feet)

To (feet)

Length (feet)

Assay
(Oz/ton Au)

94-J-24

325.3

327.3

2.0

0.578

94-J-25

242.9

246.2

3.3

1.013

94-J-26

276.3

283.2

6.9

4.087

94-J-27

277.8

280.6

2.8

0.081

94-J-28

383.4

389.0

5.6

1.239

94-J-29

326.1

326.6

0.5

0.001

94-J-30

376.4

380.0

3.6

0.635

94-J-31

289.8

291.3

1.5

0.408

94-J-32

482.0

483.7

1.7

0.020

94-J-33

506.0

508.5

2.5

0.009

 

All assays were completed by Accurassay Laboratories, Thunder Bay, Ontario in 1994 using a standard fire assay method. The results from duplicate samples were averaged. Estimated true widths were not provided with the 1994 drill data.

 

The Company has not yet completed the work necessary to verify the past exploration results and since some of these results are historical in nature and some results predate National Instrument 43-101 ("NI 43-101") standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Delio Tortosa, P.Eng., a "Qualified Person" as defined by NI 43-101 and a Technical Advisor for Argo Gold.