Toronto, CANADA, September 9, 2020 – Argo Gold Inc. (“Argo Gold” or the “Company”) (CSE: ARQ) has expanded its surface stripping and washing exploration program at the Uchi Gold Project. Fieldwork to date has included stripping and washing areas of known mineralization – Woco, Northgate, and Raingold – and prospecting over anomalies identified in the Summer 2019 Biogeochemistry Survey. Prospecting a biogeochemistry anomaly has identified siliceous tourmaline alteration in outcrop 175 metres south of Woco. Siliceous tourmaline alteration occurs in the footwall of the high-grade Woco vein where the currently known surface expression is 70 metres. Argo Gold is currently planning a second drill program to test a number of targets indicated by the 2019 and 2020 exploration programs.
Argo Gold’s first drill program in Winter 2019 intersected high-grade gold at both the Woco Vein and the Northgate Shear Zone. The Woco Vein and the Northgate Shear Zone are 2 kilometres apart on a 5 kilometre mineralized trend that is considered highly prospective. The Summer 2019 Biogeochemistry Survey covered the main mineralized trend and identified multiple high priority anomalies proximal to the high-grade Woco vein and also identified additional new anomalies along the 5 kilometre strike length of the main mineralized trend; (Argo Gold PR, October 28 2019). West of the main mineralized trend, another mineralized trend – the HST Zone and the Raingold vein system – was sampled in the Summer 2019 field program and returned anomalous gold assays over 600 metres of strike length. One of the continuous chips of five samples assayed 14.5 g/t Au across 2.6 metres at Raingold. (Argo Gold PR, November 6 2019).
Argo Gold is pleased to announce that Josh Pelletier, MSc, P.Geo and SEG fellow has joined the company. Mr. Pelletier has over 20 years of experience in exploration; specializing in gold and silver deposits including epithermal deposits and narrow high-grade gold vein deposits. Mr. Pelletier has an Honours B.Sc. Geology 2002 (UQAM) and M.Sc. Geology 2016 (UQAM). Argo Gold also announces that Mr. Bryan Wilson has stepped down from the board of directors.
Argo Gold announces that it has granted an aggregate of 400,000 options to purchase common shares of the Company exercisable at a price of $0.21 per share and expiring on September 8, 2023 to consultants of the Company. Further to its press release of August 17, 2020, the company also announces that it has cancelled the proposed debt settlement.
Bill Kerr, P.Geo, Exploration Geologist of Argo Gold, is the Qualified Person who has approved the scientific and technical disclosure in this news release.
About Argo Gold Inc.
Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration projects in central and northwestern Ontario. Argo Gold recently added the Talbot Lake Gold Project to its portfolio. (Argo Gold PR, June 11 2020). All of Argo Gold’s projects are 100% owned by the company and its shareholders. Information on Argo Gold can be obtained from SEDAR at www.sedar.com and on the Company’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) under the ticker ARQ, on the OTC under the ticker ARBTF and on the FSE under P3U.
For more information please contact:
Judy Baker, CEO
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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.