Argo Gold Inc (C:ARQ)
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Last Close 6/19/2017 $0.20
Tuesday June 20 2017 – News Release
Ms. Judy Baker reports
ARGO GOLD EXPLORATION WORK IN THE WAWA AREA
Argo Gold Inc. commenced exploration activity at its Wawa area gold projects in early May, 2017. Argo Gold has five gold projects in the Wawa area, including the South Wawa, Macassa Creek, Mishi Lake, Abbie Lake and the Rockstar gold projects. All projects are 100 per cent owned by Argo Gold, subject to a 2-per-cent net smelter return royalty on three of them.
Field exploration activity includes re-establishing access, grab and channel sampling, geological and structural mapping, geochemical surveys, and prospecting, in conjunction with the compilation and review of historical geological and geophysical data, as well as planning for follow-up drilling. Initial samples were sent for assay in mid-May, and results are pending.
The South Wawa gold project (256 hectares in Naveau township) is located south of the Wawa gold project and contains the Valentti gold vein, which was trenched and sampled in the early 1990s and averages four grams per tonne gold over a 3.4-metre width and 60-metre length of the exposed vein, with channel samples ranging up to 15.4 grams per tonne gold over 2.6 metres.
The Macassa Creek gold project (208 hectares in the Davids Lake area) is located on the western extension of the Mishibishu Lake deformation zone that also hosts Wesdome’s Mishi gold mine. Exploration activity by Dominion Explorers in 1986 and 1987 identified gold mineralization at surface and in drill core.
The Mishi Lake gold project (640 hectares in the Mishibishu Lake area and St. Germain township) is located on the eastern extension of the Mishibishu Lake deformation zone that hosts Wesdome Gold Mines Ltd.’s Mishi gold mine. Exploration activity in 2011 identified gold mineralization at surface.
The Abbie Lake gold project (4,528 hectares in the Abbie Lake area) is located on the Iron Lake deformation zone, approximately 10 kilometres north of Wesdome’s Magnacon mill. Exploration activity by Tundra Resources between 1983 and 1988 identified gold mineralization at surface and in drill core.
The Rockstar gold project (2,656 hectares in Jacobson and Riggs townships) is located in the Michipicoten greenstone belt, which hosts Richmont Mines Inc.’s Island gold mine and past gold producers, including the Magino, Edwards, Cline and Renabie mines. Exploration activity has identified six known areas of gold mineralization at surface. Drilling in 2004 and 2005 on the Rockstar vein (two to three metres wide) identified continuous gold mineralization for 250 metres along strike and to a depth of 250 metres.
The company has not yet completed the work necessary to verify the past exploration results, and since some of these results are historical in nature and some results predate National Instrument 43-101 standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Delio Tortosa, PEng, a qualified person as defined by NI 43-101 and a technical adviser for Argo Gold.