Argo Gold Assays 32.84 g/t Au over 2.5 metres at the Raingold Area, Uchi Gold Project
Argo Gold Assays 32.84 g/t Au over 2.5 metres
at the Raingold Area, Uchi Gold Project
Toronto, Ontario--(Newsfile Corp. - October 15, 2021) - Argo Gold Inc. (
CSE: ARQ
) (
OTCQB:
ARBTF
)
(FSE: P3U)
("
Argo Gold
") has completed a 17 hole, 2670 metre drill program at the Uchi
Lake Gold Project.
Analytical results have been received and compilation of maps and interpretation are
ongoing for all areas of drilling including Woco and Northgate.
The exploration targets at 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.
The 2021 drill program was designed to test additional new targets (75%) and expand
known gold mineralization (25%).
The 2021 exploration program extended the strike length of the
mineralized zones at Woco, Northgate and Raingold as well as identified a new zone of mineralization
100 metres east of Raingold.
The first three holes of the program, totalling 399 metres, targeted the Raingold gold bearing system,
believed to lie on the "HST Break".
In 2021, Argo Gold also completed overburden stripping and
washing for 280 metres south of the high-grade Raingold Zone identified in the 2020 field season.
The
2021 channel sampling result of 32.84 g/t Au over 2.5 metres confirms high-grade gold mineralization at
Raingold.
A zone of shearing is identified over the 280 metres of strike length south of Raingold and
abundant sulphide mineralization is also identified along the newly exposed rock.
Channel sampling of
the newly stripped shear zone extending 280 metres of south of Raingold is almost completed and will
be sent to the lab for assay.
Argo Gold is also currently mapping at Raingold to understand the nature of
the high-grade gold mineralization and its correlation to sulphides, structure and lithology.
Drill Hole AG21-016 was collared 100 metres north of the high-grade zone area at Raingold in a
topographical low that was postulated to be a possible NW-SE cross structure.
Two areas of
mineralization were encountered.
From 44 metres to 51.75 metres, there was a 7.75-metre intersection
of 0.09 g/t Au.
This anomalous gold was hosted within sheared greywacke-argillite containing quartz-
carbonate veinlets with minor sulphides and occurs on the footwall of a feldspar porphyry unit.
The
second area of mineralization was encountered at 189.14 metres intersecting 1.18 g/t Au over 2.16
metres in a pyritic silicified healed fault breccia.
The second intersection of gold mineralization is thought
to represent a new parallel mineralized trend approximately 100 metres east of the HST Break.
Drill hole AFR-21-017 targeted a high-grade gold mineralization exposed in the surface trench with a drill
hole at a -45 dip.
While the structure was intersected with strong ankeritization from 32 metres to 36
metres, only very low gold values were returned.
Anomalous gold values were intersected from 36 to 39
metres for 3 metres of 0.6 g/t Au in lean iron formation.
Drill hole AGR-21-018, targeting the same trench
with a steeper -60 hole, intersected lean iron formation, argillite and brecciated quartz but with no
significant gold values. The HST Zone remains a compelling target and with anomalous gold values
documented over a 500 metres of strike length and high-grade gold mineralization at the at Raingold
zone including 2021 channel sampling results of
32.84 g/t Au
over
2.5 metres.
QA/QC
Samples were geologically logged, the information was captured digitally, and sample locations were
marked directly in the core box.
Cutting was done on site by Argo personnel and securely bagged.
Samples were subsequently transported by Argo Gold personnel to Dryden to Activation Laboratories
Ltd. (ActLabs) which is ISO 17025 accredited. A rigorous program of inserted duplicates, blanks and
standards was instituted. The laboratory batch size was 35 samples, so Argo Gold ensured that blanks,
duplicates and inserted OREAS control standards (three separate standards representing low, medium
and high-grade values) were inserted every twenty samples. These results have been scrutinized and
values were well within high tolerances. Every sample was analyzed for Fire Assay Gold with either an
AA (Atomic Absorption) or gravimetric finish. Where values were over 5,000 ppb, the sample was then
re-assayed by Fire Assay with a gravimetric finish.
At ActLabs, the samples were sorted and dried in a 60C oven. Each sample was then crushed up to
90% passing 10 mesh, riffle split, and a 250 g sample was pulverized to 95% passing 150 mesh. The
pulverized samples were analyzed for gold using a Fire Assay with an AA, (or gravimetric as noted
above) finish. ActLabs also has their internal system of inserted blanks, duplicated and inserted control
standards which they used to ensure quality of the results.
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.
Map 1
To view an enhanced version of Map 1, please visit:
https://orders.newsfilecorp.com/files/3921/99811_166dd625d47c187e_001full.jpg
.
Map 2
To view an enhanced version of Map 2, please visit:
https://orders.newsfilecorp.com/files/3921/99811_166dd625d47c187e_002full.jpg
Argo Gold
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.com
.
Argo Gold is listed on
the Canadian Securities Exchange (
www.thecse.com
) (CSE:
ARQ)
, as well as (OTCQB:
ARBTF)
and
(XFRA:
A2ASDS)
, (XSTU:
A2ASDS)
, (XBER:
A2ASDS)
.
For more information please contact:
Judy Baker, CEO
(416) 786-7860
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 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.
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