Argonaut Gold Announces Three-Year Production Outlook; Provides Updated Mineral Reserves and Resources

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1033-tsx/ar/29394-argonaut-gold-announces-three-year-production-outlook-provides-updated-mineral-reserves-and-resources.html

TORONTO, Feb. 16, 2017 /CNW/ – Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to provide its three-year production outlook, updated mineral reserves and resources at its operating mines and a general corporate update.  All dollar amounts are expressed in United States dollars unless otherwise specified.

Three-Year Production Outlook

Based on life-of-mine planning at December 31, 2016, the Company anticipates it will achieve  production growth on a gold equivalent ounce1 (“GEO”) basis as its San Agustin and La Colorada projects ramp up and lower the overall cost profile.  The Company’s goal is to achieve annual all-in sustaining costs per gold ounce sold2 at or below $950.  Table 1 below illustrates the Company’s three-year GEO production outlook:

Table 1 – Three-Year GEO Production Outlook
Year El Castillo/San Agustin(1) Complex
GEO Production (000s)
La Colorada GEO
Production (000s)
Consolidated GEO
Production (000s)
2017 70 – 80 45 – 50 115 – 130
2018 90 – 100 65 – 70 155 – 170
2019 115 – 125 55 – 60 170 – 185
(1) San Agustin 2017 guidance includes all expected production during the year.  2017 revenues and costs prior to declaration of commercial production will be capitalized.

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