Argo Gold Initiates Drilling On Its Woco Gold Project
ARGO GOLD INC.
365 Bay Street, Suite 400
Toronto, Ontario M5H 2V1
S/O: 36,759,881
Argo Gold Initiates Drilling On Its Woco Gold Project
February 19, 2019 – Toronto, ON, Canada. – Argo Gold (the “Company” or “Argo Gold”, CSE:
ARQ) is pleased to announce the start of a diamond drilling program at their 100% owne d Woco
Gold Project, located in the Birch- Uchi Greenstone Belt , located 75 kms east of Great Bear
Resources’ Dixie Project and outside the Red Lake Gold District.
Key features of the Woco Gold Project are:
• High grade gold intercepts in historic drilling, including 139 g/t Au over 2.1 metres, 65 g/t
Au over 1.83 metres, and 62 g/t Au over 3.6 metres.
• New detailed 3D modelling of historic drill holes has identified down-plunge, down-dip and
on-strike drill targets.
• The Woco vein is situated 1.5 k ms south, and parallel to the strike of the past producing
Uchi Mine, where mining the No. 1 Z one started with a grade of 10.62 g/t Au over 9
metres for a length of 103 metres. (Summarized from Bateman (1940), ODM ARV 48,
pt.8)
• The through-going “Uchi Break”, is considered to be a gold- controlling structure for the
Uchi Mines , the Woco and Northgate gold prospects, and is also a target of this drill
campaign.
• The recently sampled Northgate Vein, located several kilometres south of Woco is up to 4
metres wide and will have two holes to verify the depth continuity of surface sampling
results and historical drilling completed by Northgate Exploration in 1959.
• Argo Gold’s total land package in the prospective Birch U chi Greenstone Belt is 2,176
hectares and follows geologically favourable rocks and structures hosting gold
mineralization.
Exploration Program Details
This exploration program is being overseen by Argo Gold’s lead exploration geologist Bill Kerr
who comments:
“The current drill program will confirm the size and tenor of the Woco gold mineralization
intersected by Chester Kuryliew over 25 years ago, and will then attempt to confirm continuity
down plunge, down dip, and along strike where the high- grade zone remains open. The
completely separate Northgate S howing will also be tested by several holes. The controlling
structure for the Uchi Mine No. 1 Zone, which was 100 metres long by 9 metres wide at a grade
of 10.62 g/t gold, will also be a continuing and increasing focus of this and subsequent drill
programs.”
This 2,500- metre diamond drill program will test the continuity of the Woco Vein and
accompanying shear zone along with the down dip and on- strike extension of the previously
identified mineralized zones. Drilling will focus on the core mineralized zone to verify the
historical high-grade gold intersections but will also be testing areas along strike and down-dip in
areas not previously tested. The intent is to identify additional plunging high- grade mineralized
zones and expand the extent of the mineralized vein system. This exploration program began on
February 15, 2019, is expected to be completed in approximately 30 days. The Company is
currently fully funded to complete this program.
The historical results presented above were from an 1994 final assessment file report submitted
by St. Jude Resources, which was completed prior to the implementation of the National
Instrument 43 -101 (“NI 43-101”) requirements; however, given the high quality of the historic
work completed and the reputation of St. Jude Resources , the Company believes the historical
results to be both relevant and reliable. In addition, a Qualified Person has not completed
sufficient work to classify these historic mineral results as current.
About Argo Gold Inc.
Argo Gold is listed on the Canadian Securities Exchange under the ticker symbol ARQ. Argo
Gold is focused on gold exploration projects in central and northwestern Ontario. Argo Gold’s
website is www.argogold.ca.
Mr. Delio Tortosa, P. Eng, is the Qualified Person as defined by National Instrument 43- 101
responsible for the accuracy of technical information contained in this news release.
For more information, please contact:
Paul Poggione Ken Storey
Vice-President, Corporate Development Chief Financial Officer
613-277-1989 905-301-3404
[email protected] [email protected]
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 c ontains 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 s imilar 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 securitie s regulators, which filings are available at
www.sedar.com.