TORONTO, ONTARIO–(Marketwired – Oct. 3, 2016) – Argonaut Gold Inc. (TSX:AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce that it has completed a 70 hole reverse-circulation (“RC”) drill program. The program’s primary objective was to confirm historical gold-silver resource estimates for its El Creston gold-silver deposit at the La Colorada Mine located in Sonora, Mexico (Indicated mineral resource of 14.4 million tonnes at 0.618 g/t Au and 12.1 g/t Ag and inferred mineral resource of 2.2 million tonnes at 0.887 g/t Au and 13.3 g/t Ag – see Preliminary Economic Assessment Technical Report with an effective date of October 15, 2011).
The La Colorada Mine sequencing plan calls for a series of three pits: La Colorada-Gran Central, El Creston and Veta Madre. The Company is currently mining in the La Colorada-Gran Central pit and the mine plan calls for stripping to begin at El Creston during the fourth quarter of 2016.