Argo Gold to Sell South Wawa Gold Project
Toronto, Ontario--(Newsfile Corp. - February 15, 2018) - Argo Gold Inc. (CSE: ARQ) ("Argo Gold" or the "Company") announces that it has entered into a purchase and sale agreement to sell a 100% interest in the South Wawa gold property to RT Minerals Corp. (TSX.V: RTM) (OTC Pink: RTMFF) for consideration of 350,000 common shares of RT Minerals.
The South Wawa gold property consists of two mineral claims totaling 16 units or 256 hectares located approximately 10 kilometres south of the Town of Wawa, Ontario in Naveau Township. The Property is bordered to the north by Red Pine Exploration Inc.
Argo completed an MMI orientation survey, channel sampling, prospecting, mapping and grab sampling on the Property during the 2017 field season. The results of the channel sampling confirmed historic results. Prospecting delineated mineralized zones around an area termed the Camouflage vein. The highest gold grades obtained from prospecting samples are 11.6 g/t Au and 10.1 g/t Au (Argo Gold Press Release October 24, 2017 and Assessment Report dated December 22, 2017 prepared for Argo by Ronacher McKenzie Geoscience).
This transaction is subject to the acceptance of the TSX Venture Exchange.
About Argo Gold Inc.
Argo Gold is listed on the Canadian Securities Exchange under the ticker ARQ. Argo Gold is focused on gold exploration projects central and northwestern Ontario. All of Argo Gold's projects are 100% owned and have indications of economic viability. Argo Gold's website is www.argogold.ca.
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NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.