Argo Gold (CSE: ARQ)(OTC: ARBTF)

Interview with Judy Baker, CEO and Pedro Villagran-Garcia, Vice President


WSA: Good day from Wall Street, this is Juan Costello, Senior Analyst with the Wall Street Analyzer. Joining us today are Judy Baker, CEO for Argo Gold Incorporated, along with the company’s Vice President Pedro Villagran-Garcia. The company trades on the Canadian Securities Exchange, ARQ and on the OTCQB, ARBTF. Thanks for joining us today there.

Judy Baker: Thank you Juan.

Pedro Villagran-Garcia: Thank you Juan.

WSA: So yeah, please start off by providing us there with an overview and intro of Argo Gold.

Judy Baker: Okay. Argo Gold is focused on high-grade gold exploration in Northwestern Ontario, the Uchi Gold Project and the Talbot Lake Gold Project. The 2019 drill results at the Uchi Gold Project were three to four ounce per ton, and these are Red Lake style grades. And the follow-up 2020 field exploration season results continue to show pervasive gold mineralization on multiple mineralized trends. So, we’re pretty excited about advancing the Uchi Gold Project. And Talbot Lake, the second project of focus is actually just a new acquisition in 2020.

WSA: And what about a little background on, you know, who the management team is?

Judy Baker: Okay, yeah. Myself, I’m the CEO and founder of the company. Pedro Villagran-Garcia is the Vice President of Argo Gold and manages shareholder communication via the website and social media.

WSA: I appreciate it. And can you bring us up to speed on some of the most recent news including the Uchi Gold Project progress?

Judy Baker: Yeah. Uchi Gold Project to 2019 drill results132 gram per ton gold over 1.8 meters. That’s an economic grade over an economic whip. Argo Gold’s 2020 exploration program at the Uchi Gold Project identified pervasive gold mineralization at Woco, Northgate and Raingold. The mineralized strike length for the Woco zone has been extended to 280 meters and we’re at diamond saw channel, surface samples of 58 gram per ton gold over half a meter right at surface. At the Northgate zone, we’ve identified two new 15-meter sections of high-grade gold, were identified within the known strike length of Northgate, which is pretty material already at 225 meters. Our sampling this summer, we are getting 1.6 meters of 43 gram per ton gold, and 0.65 meters of 77 gram per ton gold. So very excellent high-grade numbers.


We didn’t realize we had those high-grade zones at Northgate prior to the summer. At Raingold, we’ve high-grade gold is identified over 15 meters of the 20 meters of strike length that we sampled. And at Raingold we’re getting good width, 2.3 meters of 31 gram per ton gold, and a meter of 20 gram per ton gold. So pretty overall, very impressive summer exploration results at the Uchi Gold Project.

WSA: Yeah, great. So, what are the main goals the company is hoping to accomplish here during the first half of the year?

Judy Baker: So, we’ve got pervasive gold mineralization on multiple mineralized trends, and maybe I’ll let Pedro talk about what we’re going to do in 2021.

Pedro Villagran-Garcia: Excellent. Thank you Judy for that. Yeah, Argo Gold, we’re pretty excited and we have confirmed a June 2021 drill program at the Uchi Gold Project. Our intentions are to increase operations once progress is made and transparently inform our shareholders, obviously regarding material events.

Judy Baker: So, we’ve got — there’s about 1.8 kilometers between the mineralized zone at Woco and the mineralized zone at Northgate. And we’re hoping to make some progress with respect to – the thinking is now from the summer that they’re connected, so we’re hoping that the drill program can advance that as well. Raingold has never been drilled. And then also we will be drilling down at the – down plunge down depth at Woco and Northgate. As you know, the mines in the Northwest Ontario, the Red Lake CAP, they’re very deep, kilometers and kilometers deep. And at this point, Argo Gold drilling to-date is only very shallow. So, we’re excited about continued exploring at depth at these high-grade gold projects.

WSA: Surely, so can you bring us up to speed on the Talbot Lake acquisition. You know, talk about what it adds to the portfolio and how it works into your overall acquisition strategy.

Judy Baker: Yeah. Talbot Lake stays with the theme of high-grade gold mineralization. It’s in same – it’s in Northwestern Ontario. Like the Uchi Gold Project, it’s in the prolific Uchi geologic sub province, which also hosts the Red Lake mine. On Talbot Lake there’s 50,000 ounces at 14 gram per ton gold right at surface. And that grade is economically viable. We just need to find more gold mineralization. The mineralization at Talbot Lake is associated with banded iron formation. And the Musselwhite mine in Northwestern Ontario, which has produced over 200,000 ounces for over 20 years is a banded iron formation type gold deposit. And this type of mineralization can be quite prolific.


So, at the Talbot Lake Gold Project, Argo Gold has over 23 line kilometers of banded iron formation in the area of the project that our target for additional gold mineralization. The interesting thing, the project has been sitting dormant in the uranium company for many years. So, we’re excited to be able to identify that project, acquire that project and advance it. And it very much anchors Argo Gold with two top-tier gold exploration projects in Northwestern Ontario.

WSA: Yeah, certainly. Can you talk about Argo’s financing position and you know what the position is from major investors in the sector?

Judy Baker: Yeah, so Argo Gold is very fortunate to have institutional funds holding 25% of the shares outstanding. Eric Sprott holding another 18% of the shares outstanding. Insiders hold 7%. So, 50% of the shares are well held, leaving a float of only 50%. So, Argo Gold recently closed a $1.8 million financing. So, the company is financed for the June drill program at Uchi that will – the drill program at Uchi that will start in June that Pedro talked about. So yeah, good and solid investors, well held shares and finance for exploration activity for 2021.

Shareholder Profile

Eric Sprott18%
US Global6%
Accilent Capital6%
Northfield Capital Corporation6%
Public Float54%

WSA: Well, good. And what do you guys feel are the key drivers that make Argo Gold unique from some of the other players in the sector and able to capitalize on some of the trends in the resource space?

Pedro Villagran-Garcia: I think it’s been clear, Judy has basically informed us and kept us very much aware of the great opportunity that we have right in front of us, Juan. So, as we just mentioned, Argo Gold has great high-grade gold projects in Northwestern Ontario, marquee financiers and its finance for its upcoming drill program. So, we’re literally surrounded by Canada’s greatest mines and it’s also important to mention that we’re diversified, with silver, zinc and cobalt. We’re pretty excited about this, Juan.

Judy Baker: Excellent, thank you Pedro-.

WSA: Go ahead Judy, sorry. Were you going to add to that?

Judy Baker. It’s great that you brought up Argo Gold’s Hurdman Project. The Hurdman silver project has three million tons of 12 gram per ton silver, half a gram per ton gold and one and a half percent zinc. So Argo Gold has a project that’s not well known in it’s portfolio where we have 1.2 million ounces of silver in the ground right at surface.

WSA: So, yeah once again we’re speaking with Argo Gold CEO Judy Baker and Vice President Pedro Villagran-Garcia. The company is currently trading at $0.15 a share, that’s the US price. And about eight million market cap here, US. Before we conclude, why do you guys believe investors should consider the company as a good investment opportunity today?

Pedro Villagran-Garcia: Well yeah, as you just said, the current market capitalization, it’s an intriguing opportunity. Argo Gold shares structure is formidable with only 63 million shares outstanding, and only 50% of it is float, which is attractive. And with significant and lucrative gains to be made. So that basically concludes how important this is, Juan.

WSA:Well, we look forward to continuing to track the company’s growth there and get a report on your upcoming progress. And, you know, we’d like to thank you for taking the time today to join us and introduce our investor audience to Argo Gold. It was great having you guys on.

Judy Baker: Thank you, Juan.

Pedro Villagran-Garcia: Thank you, Juan. We greatly appreciate your opportunity.

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