Canadian Mining Journal

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GOLD-SILVER: Argonaut to consider expanding pit at La Colorada



MEXICO – Good drill results from the El Creston deposit at the La Colorada gold-silver mine and heap leach operation in Sonora has Argonaut Gold considering an expansion of the pit. The company has completed a 22-hole, 5,139-metre reverse circulation program tested the down dip extension of potential reserves for an El Creston open pit.

Argonaut’s La Colorada heap leach operation produced 41,694 gold equivalent ounces in the first nine months of 2016.

The El Creston resources were up at the end of 2016 compared to 2015. The indicated tonnage was 13.1 million tonnes averaging 0.63 g/t gold and 16.5 g/t silver, up from 12.9 million tonnes at 0.61 g/t gold and 12.5 g/t silver a year earlier. The inferred resource was 2.4 million tonnes at 0.82 g/t gold and 12.1 g/t silver, up from 487,000 tonnes at 0.92 g/t gold and 17.9 g/t silver in 2015. Samples were capped at 10 g/t gold.

At the end of 2016, contained ounces in both categories totaled 327,000 oz. of gold and 7.8 million oz. of silver. Compare that to 275,000 oz. of gold and 5.4 million oz. of silver a year earlier.

Argonaut says the El Creston mineralization is a large, structurally controlled vein system that outcrops and then dips to the north.

Several informative videos are available at www.ArgonautGold.com.