Argo Acquires Gold and Silver Mineral Claims in Saskatchewan
Argo Acquires Gold and Silver Mineral Claims
in Saskatchewan
Toronto, Ontario--(Newsfile Corp. - April 11, 2025) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF)
(XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("
Argo
" or the "
Company
") is entering into a
mineral claim option agreement (the "
Option
") to acquire a 100% interest in the 1155-hectare Dreaver
Lake property (the "
Claim
") located in the Rottenstone Belt in Saskatchewan.
To exercise the Option and acquire the Claim, Argo must: (i) make a cash payment of C$1,000 (which
has been made), (ii) incur or expend at least C$40,000 in exploration work by September 3, 2026 and
(iii) grant to the vendor of the Claim a 2% net smelter returns royalty on any minerals produced from the
Claim.
Dreaver Lake has weakly anomalous gold and silver in lake sediments as well as a highly anomalous
halo of coincident gold and silver in lake sediments for 10 kilometres in the down-ice direction. (GSC).
In
1968, prospecting at Dreaver Lake identified outcrops of quartz diorite rock consistent with rock hosting
the gold mineralization in the Ramp Metals discovery hole Ranger 1 which intersected 73.55
grams/tonne Au over 7.5 metres from 227 to 234.5 metres. (Ramp Metals, June 17, 2024).
Exploration
work in the 1960's was focused on nickel and copper, not gold.
An airborne survey conducted for
Noranda Exploration in 1966 at Dreaver Lake delineated 3 conductors, all with associated magnetic
highs, in the metasediments flanking the intrusive granites. The highest priority target is a strong, wide
EM conductor that is approximately 1.5 km in length with associated magnetic highs on both sides. All 3
conductors remain undrilled.
The Dreaver Lake mineral claims are located approximately 12 km
southeast of the Ramp Metals Property.
The Dreaver Lake property is contiguous to that of Eagle Plains Resources where trench sampling on
the Cook Showing returned 79.96 g/t Au over 1.0 metre, and a grab sample returned up to 78.84 g/t Au,
2.7 g/t Ag, 0.146% Pb and 0.019% Cu (Eagle Plains website, 2025).
Approximately 5 kilometres
southwest of the Dreaver Lake Property, Fathom Nickel is currently exploring at Gochager Lake where
recent drilling intersected 18.1 metres @ 2.43% Ni, 0.51% Cu and 0.18% Co.
(Fathom Nickel, April 12,
2023).
Rock chip and soil geochemical sampling has extended the Gochager footprint by 2 kilometres to
the southwest and 2 kilometres to the Northeast.
(Fathom Nickel, August 26, 2024).
Underground
exploration drilling at the past-producing Roy Lloyd mine located 20 kilometres south of Dreaver Lake
intersected 8.17 metres (5.32 metres true width) of 66.85 g/t Au, 6.79 metres (4.42 metres true width) of
80.12 g/t Au and 2.23 metres (1.73 metres true width) of 128.37 g/t Au at a depth of approximately 240
metres.
(Matrixset Investment Corp. website).
Argo recently completed a compilation of all historic data on its mineral claims acquired this past year
(Argo Gold, August 7, 2024 and Argo Gold, January 20, 2025); and identified additional prospective
mineral exploration ground where anomalous gold, silver and copper in lake sediments (GSC) coincide
with an interpreted fold axis from historic geophysical data.
Argo's mineral claim position in the
Rottenstone Belt covers areas of interest including: anomalous copper in soils, electromagnetic
conductors identified by historic geophysical surveys, ultramafic rocks, the Gow Lake meteor crater
area, and the geological strike extension of the Rottenstone Mine.
Argo Gold has initiated the permitting process for the company's mineral claims in the Rottenstone Belt,
Saskatchewan.
The Fraser Institutes 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.
National Instrument 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Michael Guo PhD,
PGeo, MG Geological Consulting Ltd, who is a Qualified Person in accordance with the Canadian
regulatory requirements set out 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.
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 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, 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 the financing not being completed in its entirety, or at all, 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.
Map 1:
Location of Argo Gold Rottenstone Belt Mineral Claims
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