Argo Increases Its Uranium Mineral Claim Position in the Athabasca Basin, Saskatchewan
Argo Increases Its Uranium Mineral Claim
Position in the Athabasca Basin,
Saskatchewan
Toronto, Ontario--(Newsfile Corp. - November 3, 2025) - Argo Gold Inc.
(CSE: ARQ) (OTC Pink:
ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS)
("
Argo
" or the "
Company
") has
increased its uranium mineral claim position at
Thunderclap
in the Athabasca Basin, Saskatchewan.
Argo Gold's 100% interest at
Thunderclap
now covers 264 hectares of prospective uranium mineral
claims in the Athabasca Basin.
Argo Gold also has a 100% interest in three other uranium areas in the
Athabasca Basin -
Parker Lake
,
Thunderbolt
and
ZigZag -
which altogether total 15,962 hectares and
are considered prospective for uranium mineralization.
Thunderclap
is located 16 kilometres SSW of the McLean Lake Uranium Mine and Mill, 18 kilometres
SW of the Rabbit Lake Mine and Mill, 30 kilometres NE of Cameco's Cigar Lake High Grade Uranium
Mine, 12 kilometres south of the Points North Landing camp and airstrip, and 17 kilometres south of
Denison Mine's Midwest Lake ISR uranium deposit.
Thunderclap is surrounded by Cameco
Corporation, with Uranium Energy Corp (UEC) to the immediate east.
To the east of the
Thunderclap
mineral claim, drilling by Asamera in 1982 returned 0.13% eU
3
O
8
over
4 metres in sheared, reduced yellow brown to olive green chlorite schist from the diamond drillhole
Q12a-9.
The unconformity lies at a depth of 182 metres with bleaching, hematite and chlorite alteration in
basement rocks.
(Reference: SMDI 1969 located 600 metres east of
Thunderclap
).
A second drill hole
(SHA-042) intersected the unconformity at 197.2 metres returning 0.021% U3O8/4.0 m from 306-310 m
and 0.071% U3O8/7.0 m from 499-506 m at the contacts of semipelitic gneisses and pegmatites.
(Reference: SDMI 3480 is located 1500 metres east of
Thunderclap
).
To the NW of
Thunderclap
and 5.28 kilometres south of the Midwest Lake Uranium Deposit, historical
drilling intersected 0.25% eU
3
O
8
over 4.0 metres in DDH Q8-24 from 166.3 to 170.3 metres in the lower
sandstone and regolith in black pyritic sandstone and 1.1 metres in the lower sandstone of 14.8% Ni,
7.2% Co, 1.44% Cu, 1.14% As and 0.16% Pb.
(Reference: SMDI 2551).
Historic drilling 3.5 kilometres
to the SW of
Thunderclap
returned 0.34% U
3
O
8
over 0.5 metres as well as anomalous nickel arsenide,
cobalt, copper, lead and zinc.
(Reference: SMDI 2751).
The anomalous polymetallic mineralization is
considered to be very significant, as the Cigar Lake high grade uranium mine carries similar polymetallic
mineralization along with the uranium and gold/silver.
The Thunderclap Property is considered highly
prospective and has never been drilled-tested.
The Fraser Institute's Annual Survey of Mining Companies ranked Saskatchewan as third in the world for
mineral exploration and mining investment attractiveness.
Argo is well positioned to advance mineral
exploration with high-quality assets in a mining friendly jurisdiction.
Map 1:
Location of Thunderclap uranium mineral claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3921/272912_0b8cd34944519b50_001full.jpg
National Instrument 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Michael Guo, who is
a "Qualified Person" as defined in National Instrument 43-101. Historical geochemical, drilling results
and geological descriptions quoted in this news release were taken directly from news releases by other
mineral explorers and from information provided by the Government of Saskatchewan. Management
cautions that results reported by other parties on adjacent properties have not been verified nor
confirmed by its Qualified Person, but Argo believes they create a scientific foundation for the
exploration in the district. Management further cautions that historical results or discoveries on adjacent
or nearby mineral properties are not necessarily indicative of the results that may be achieved on Argo's
mineral properties.
Note on U
3
O
8
Equivalence
Some of the reported U
3
O
8
results represent "equivalent uranium," or eU
3
O
8
, which is determined
through downhole probing techniques. These methods estimate the uranium content in situ by measuring
gamma radiation, which is then converted into an eU
3
O
8
value based on standard calibration factors. It's
important to note that this is an indirect measurement, and the actual uranium species may vary. The
eU
3
O
8
values provide an estimate of uranium concentrations in the mineralization, but further assaying
and metallurgical testing would be needed to confirm the precise uranium species and chemical grade.
Map 2:
Location of Thunderclap, Thunderbolt, Zig Zag and Parker Lake uranium mineral claims
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3921/272912_0b8cd34944519b50_002full.jpg
National Instrument 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Michael Guo, who is
a "Qualified Person" as defined in National Instrument 43-101. Historical geochemical, drilling results
and geological descriptions quoted in this news release were taken directly from news releases by other
mineral explorers and from information provided by the Government of Saskatchewan. Management
cautions that results reported by other parties on adjacent properties have not been verified nor
confirmed by its Qualified Person, but Argo believes they create a scientific foundation for the
exploration in the district. Management further cautions that historical results or discoveries on adjacent
or nearby mineral properties are not necessarily indicative of the results that may be achieved on Argo's
mineral properties.
Note on U
3
O
8
Equivalence
Some of the reported U
3
O
8
results represent "equivalent uranium," or eU
3
O
8
, which is determined
through downhole probing techniques. These methods estimate the uranium content in situ by measuring
gamma radiation, which is then converted into an eU
3
O
8
value based on standard calibration factors. It's
important to note that this is an indirect measurement, and the actual uranium species may vary. The
eU
3
O
8
values provide an estimate of uranium concentrations in the mineralization, but further assaying
and metallurgical testing would be needed to confirm the precise uranium species and chemical grade.
About Argo Gold
Argo Gold is a Canadian mineral exploration and development company, and an oil producer.
Information on Argo Gold can be obtained from SEDAR+ at
www.sedarplus.ca
and on Argo Gold's
website at
www.argogold.com
. Argo Gold is listed on the Canadian Securities Exchange
(
www.thecse.com
) CSE:
ARQ
as well as quoted on OTC:
ARBTF
and XFRA, XSTU, XBER:
A2ASDS.
Judy Baker, CEO
(416) 786-7860
www.argogold.com
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, statements in this news release constitute "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 information contained in this press release include, without limitation, statements regarding
the prospectivity of the mineral claims.
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 future uranium prices and the supply of
uranium; the results of exploration work; inability to raise the money necessary to incur the
expenditures required to retain and advance the mineral claims, delays or uncertainties with drilling
and surface preparation work, and not achieving hoped for exploration success.
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 under the Company's profile on
sedarpus.ca.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/272912