Toronto, CANADA, April 28, 2021 – Argo Gold Inc. (“Argo Gold”) (CSE: ARQ) (OTCQB: ARBTF) commenced surface exploration at the Uchi Gold Project in April 2021, and the bedrock stripping, trenching, washing, geological mapping and channel sampling will continue in phases at the Uchi Gold Project throughout the 2021 field season. Argo Gold also confirms that a 2500 metre drill program will commence at the Uchi Gold Project in late May 2021.
The 2020 field season identified high-grade gold mineralization at Northgate and Woco, located on the main mineralized trend; as well as at Raingold on the HST Zone, a parallel mineralized trend located west of the main Northgate-Woco trend. Argo Gold’s December 1, 2020 news release summarized the results of this program that indicated pervasive gold mineralization on multiple mineralized trends.
Objectives of the bedrock stripping and trenching are; to expand and define known gold mineralization, identify additional gold mineralization along the mineralized trends, and to follow-up on the biogeochemical anomalies identified by the Summer 2019 biogeochemical survey that covered 5 kilometres of strike length on the main mineralized trend. Areas of interest include;
· The north and south strike extensions at Raingold where this iron formation hosted zone returned visible gold from most of the 2020 channel samples including 2.3 metres of 31.2 g/t Au and identified high-grade gold mineralization over 15 metres of strike length. Raingold is located on the 600 metre HST zone located west of the main Woco-Northgate mineralized trend.
- Gold element biogeochemical anomalies located northeast and east of the Woco Vein.
- A 500 metre strike length of copper-gold pathfinder elements located southeast of the Woco Vein.
- The west and east strike extensions at Northgate that has been stripped over a strike length of 65 metres and identified two 15 metre sections of high-grade gold mineralization where channel samples include 1.65 metres of 43.5 g/t Au and 1.65 metres of 40.1 g/t Au.
· A number of other gold element biogeochemistry anomalies identified by the 2019 biogeochemical survey that covered 5 kilometres of strike length on the main mineralized trend that includes Woco and Northgate.
The exploration targets for the Uchi Gold Project area continues to be the narrow vein, high-grade gold mineralization; a common economic model in the Canadian Shield where a series of high-grade gold veins are mined using narrow vein mining methods.
William Kerr, P.Geo., consulting geologist of Argo Gold, is the Qualified Person, as defined by National Instrument 43-101, who has approved the scientific and technical disclosure in this news release.
Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration at the Uchi Gold Project in the Red Lake District. Argo Gold recently added the Talbot Lake Gold Project to its portfolio; (Argo Gold news release June 11 2020). Information on Argo Gold can be obtained from SEDAR at www.sedar.com and on Argo Gold’s website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) CSE:ARQ, as well as OTCQB:ARBTF and FSE:P3U.
For more information please contact:
Judy Baker, CEO
(416) 786-7860
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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.
