News
posted on
Oct 16, 2013 08:16AM
"Friendly aquisition" of Prodigy Gold (Oct. 2012) / > 100k ounces in 2012
Magino expands by purchasing additional ground surrounding project
Toronto, Ontario – (October 16, 2013) Argonaut Gold Inc. (“Argonaut”, “Argonaut Gold” or the “Company”; TSX: AR), announced today that the Company had gold production of 26,690 ounces during the 3rd quarter ended September 30, 2013. This included 22,756 ounces at its 100% owned El Castillo Mine (“El Castillo”) located in Durango, Mexico and 4,234 ounces of gold at its 100% owned La Colorada Mine (“La Colorada”) located in Hermosillo, Mexico.
Argonaut Gold is also pleased to announce that it has entered into a surface and mining rights exchange agreement with Richmont Mines Inc. ("Richmont"; TSX:RIC). Pursuant to this agreement, Argonaut Gold will expand land access associated with its Magino Gold Project by obtaining both surface rights and mining rights up to 400 meters in depth on certain Richmont claims surrounding the project. Argonaut Gold will transfer its interest in certain claims to Richmont, to enable it to expand its exploration potential at its Island Gold Deep project. The terms of this agreement provide a $2 million payment from Argonaut to Richmont.
THIRD QUARTER 2013 HIGHLIGHTS:
El Castillo
La Colorada
Magino