geigerbutte
9 years ago
Mexus Gold is Pleased to Announce That Argonaut Gold Has Completed Phase I Drilling at Julio Project Per Option/JV Agreement
11/30/2015 09:30 AM
Mexus Gold is Pleased to Announce That Argonaut Gold Has Completed Phase I Drilling at Julio Project Per Option/JV Agreement
CARSON CITY, Nev., Nov. 30, 2015 (GLOBE NEWSWIRE) -- Mexus Gold US (OTCQB:MXSG) ("Mexus" or the "Company") president Paul Thompson recently returned from Mexico and is happy with his findings at the Santa Elena/Julio site. Mexus has an option/JV agreement with, Argonaut Gold on the project and Argonaut has informed Mexus that on November 16(th) , they completed their Phase I work program on the Julio project and have fulfilled the initial 6 month work obligation as defined in the Company's Joint Venture Agreement. During the program, 16 RC drill holes were completed for a total of 1990 meters. Drilling was focused on three main target areas referred to as Los Mantos, Los Cruses, and The Central Zone. All samples have been sent to ALS Chemex for analysis with assays pending. Drill results will be disseminated when they are available.
A photo accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c43319b3-b2b0-49e1-902e-70295f848e7e
President Paul Thompson closed, "We are pleased with the progress Argonaut has made on the project and we look forward to reviewing the results of the drilling once assays are received. In my opinion, Mexus is greatly underestimated and undervalued given our low overhead, and the properties and contracts we control."
About Mexus Gold US
MEXUS GOLD US is an American-based exploration company with holdings in Mexico. Mexus' fully owned Julio/Santa Elena property is located 54km NW of Caborca, Mexico. In July 2015, Mexus and Argonaut Gold Inc. (TSE:AR) entered into a joint venture option agreement for this property. The property sits in an area which is currently being mined by some of the largest mining companies in the world. Mexus has drill results which show a high grade, multi vein system throughout the property. Mexus also owns the rights to the Ocho Hermanos property, which is located 80km NE of Hermosillo, Mexico. This property will be drilled to show a proven reserve once our flagship property is in full production. Preliminary drilling on this property has been extremely promising. Founded in 2009, Mexus Gold US is committed to protecting the environment, mine safety and employing members of the communities in which it operates.
For more information on Mexus Gold US, visit www.mexusgoldus.com.
Hockmir
12 years ago
Argonaut Gold Announces Record Q3 Gold Production of 31,074 Ounces and Increases 2012 Production Guidance to 101-103,000 Ounc...
Argonaut Gold Inc. ("Argonaut Gold" or the "Company") (TSX:AR), announced today
that the Company had record gold production of 31,074 ounces during the 3rd
quarter ended September 30, 2012. This included 24,575 ounces at its 100% owned
El Castillo Mine ("El Castillo") which is located 100 km north of the city of
Durango, Mexico and 6,499 ounces at its 100% owned La Colorada Mine ("La
Colorada") which is located 50 kilometers southeast of Hermosillo, Mexico.
THIRD QUARTER 2012 HIGHLIGHTS:
El Castillo
-- Record production of 24,575 gold ounces represents a 46% improvement
over Q3 2011
-- 41,630 gold ounces loaded on the pad (+39% improvement over Q3 2011)
-- Conveying and stacking system on the East Side Pad was fully functional
during the third quarter
-- In September, greater than 500,000 ore tonnes were crushed and
placed on the East Side Pad thru the conveyor
-- West Side Pad 8 permit granted, with pad construction to be commenced in
fourth quarter
-- Land agreement signed extending term for an additional 10 year period
La Colorada
-- Production of 6,499 gold ounces and 41,937 silver ounces
-- 12,276 gold ounces and 1,164,742 silver ounces loaded on the pad
-- Phase 2 pad construction is one-third complete
-- Refining facility completed; now handling all materials from El Castillo
and La Colorada
-- Crushing circuit relocation and enhancements scheduled for Q4
-- Final crushing circuit expansion scheduled for early in Q2 of 2013
-- Commenced overburden removal for fresh ore mining in Q3 of 2013; 1.8M
tonnes moved
Financial
-- Cash balance of $43 million as of September 30, 2012, after repayment of
$6 million debt
-- Record 42,534 ounces of gold sold
Exploration
-- Signed letter of intent with Bravada Gold Corp.
-- Wind Mountain Project in Nevada with reported indicated and inferred
gold resource (see Bravada NI 43-101 dated April 11, 2011)
-- Aligns with Argonaut Gold's jurisdictional focus
-- Low entry risk with $250,000 commitment
-- Reasonable acquisition cost of $30/ounce for full purchase
-- Good exploration potential on the project with a goal of increasing
resources
Fourth Quarter Outlook
-- El Castillo production estimates of 22-23,000 ounces of gold
-- La Colorada production estimates of 3-4,000 ounces of gold
Full year Outlook
-- El Castillo production estimates of 84-85,000 ounces of gold
-- La Colorada production estimates of 17-18,000 ounces of gold
-- Total production guidance estimate of 101-103,000 ounces of gold
THIRD QUARTER 2012 El CASTILLO OPERATING RESULTS
Third quarter 2012 operating statistics showed improvement over third quarter
2011 results. Ore production is now at an annualized rate of approximately 12
million tonnes. Currently both sides of the operation are receiving ore to the
pads and running their respective processing plants.
El Castillo Operating Statistics
3 Months Ended September 30,
2012 2011 % Change
------ ------- ----------
Mining (Tonnes 000)
-----------------------------------------
Total tonnes mined 6,355 4,842 +31%
Tonnes ore mined 3,083 2,908 +6%
Heap Leach Pad (Tonnes 000)
-----------------------------------------
Direct ore tonnes to pad 1,811 2,283 -21%
Crushed ore tonnes to pad 1,270 613 107%
Production
-----------------------------------------
Gold grade (g/t) 0.42 0.32 +30%
Gold loaded to pad (oz) 41,630 29,997 +39%
Gold loaded to carbon (oz) 24,575 16,884 +46%
Gold sold(oz) 33,839 13,260 +155%
1 "g/t" is grams per tonne
2 "oz" means troy ounce
Richard Rhoades, Chief Operating Officer of Argonaut Gold said "Capital
expansion programs completed in the first half of 2012 provided the framework
for production improvements that are now coming to fruition. The El Castillo
team has delivered continual year over year production increases, with updated
2012 guidance providing an 18% increase in production over full year 2011
production."
Capital investments at the property included the addition of a conveying and
stacking system which is now fully functional. During September, the circuit
provided more than 500,000 tonnes of crushed ore delivered to the pad. The
strong third quarter production was positively impacted by the rainy season
which brought additional water to the pads during the quarter. Permits necessary
to begin construction on West Side Pad 8 have been granted and construction will
begin in Q4 of 2012, ahead of schedule."
THIRD QUARTER 2012 LA COLORADA OPERATING RESULTS
Third quarter operating statistics showed continued improvement at the mine. To
date, more than 75% of the Phase I run of mine material to be reprocessed has
been recrushed and stacked for leaching.
Overburden removal has begun at La Colorada in preparation for the mining of
fresh ore in the first quarter of 2013. Original plans for relocating the
crusher were pushed to the fourth quarter; as a result the fourth quarter
production expectations are approximately 3-4,000 ounces of gold, with 2012
guidance at La Colorada revised to 17-18,000 ounces.
La Colorada Operating Statistics
Q3 2012 Q2 2012 % Change
--------- --------- ---------
Mining (Tonnes 000)
----------------------------------
Total tonnes moved 2,708 840 +222%
Ore tonnes moved 924 806 +15%
Heap Leach Pad (Tonnes 000)
----------------------------------
Crushed ore tonnes to pad 848 743 +14%
Production
----------------------------------
Gold grade (g/t) 0.43 0.43 -
Gold loaded to pad (oz) 12,276 10,173 +21%
Gold loaded to carbon (oz) 6,499 4,590 +42%
Silver loaded to carbon (oz) 41,937 25,796 +63%
Gold sold (oz) 8,695 5,298 +64%
Silver sold (oz) 52,861 9,748 +442%
1 "g/t" is grams per tonne
2 "oz" means troy ounce
Richard Rhoades, Chief Operating Officer of Argonaut Gold said "La Colorada has
seen record production at the mine during the third quarter. The Company awarded
a mining contract for the property and began pre-stripping to prepare for fresh
ore mining to commence in early 2013. The capital expansion program for La
Colorada is now well underway and with significant accomplishments made at the
mine contributing to the growing production profile."
In discussing the Company's third quarter highlights, Mr. Pete Dougherty,
President and CEO said "I am extremely proud of the men and women in our
organization who daily achieve exceptional results, reflected in the Company's
accomplishments. In just two and a half years the El Castillo production rate
has more than tripled. The team at site has delivered upon yearly production
expectations along with timely completion of construction and expansion projects
necessary for future growth. This coupled with a fantastic start-up of the
recently commissioned La Colorada property have now pushed annual production
guidance over the 100,000 ounce mark for the Company."
Record sales for the quarter reflect 8,200 ounces carried over from the Q2 and
should contribute to record earnings which will be released November 14th. With
a fully functioning refining circuit at La Colorada we have now been able to
reduce the time and finished goods build up associated with final gold sales all
of which were reflective in the quarter.
At La Colorada record production has yielded way to the preparation for mining
activities to advance in 2013. The project continues in its development with
construction and expansion programs laying the ground work for production growth
at that property. The Company anticipates that the experiences at El Castillo
will lend themselves well in the growth and development of La Colorada.
Furthermore, we look to the exploration team for additional drilling on the La
Colorada property, with an aim to add further value to the project."
Argonaut Gold Q3 Financial Results Conference Call and Webcast:
The Q3 financial results call is set to take place on November 14, 2012 at 8:30
am ET. Details for the call in participation are included below:
Q3 Conference Call Information:
------------------------------------------
Toll Free (North America): 1-877-440-9795
International: 1-416-340-8527
Webcast: www.argonautgold.com
Q3 Conference Call Replay:
-----------------------------------------------
Toll Free Replay Call (North America): 1-800-408-3053
International Replay Call: 1-905-694-9451
Passcode: 7860049
The conference call replay will be available from 10:30 a.m. ET on November 14,
2012 until November 21, 2012.
Argonaut Gold Confirms Filing of Preliminary Economic Assessment for San Antonio
Argonaut Gold is pleased to confirm the filing today, pursuant to NI 43-101, the
Preliminary Economic Assessment in relation to its San Antonio Property. For
further information on the San Antonio Project please see the technical report
entitled "NI 43-101 Technical Report on Resources San Antonio Project" dated
effective as of September 1, 2012 and available on www.sedar.com and under the
Company's profile as well as the Company's website, www.argonautgold.com.
The preliminary economic assessment is preliminary in nature, includes inferred
mineral resources that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be categorizes
as mineral reserves, and that there is no certainty that the preliminary
economic assessment will be realized. Mineral resources are not mineral reserves
and do not have demonstrated economic viability. There is no certainty that all
or any part of the mineral resource will be converted into mineral reserves.
gsfl
13 years ago
Added to the S&P/TSX Composite Index
TORONTO, ONTARIO--(Marketwire - March 14, 2012) - Argonaut Gold Inc. (TSX:AR) ("Argonaut Gold", "Argonaut" or the "Company") is pleased to announce that Standard & Poor's Index Operations will be adding Argonaut Gold to the S&P/TSX Composite Index effective as at the open on Monday, March 19, 2012.
One year ago in March of 2011, Argonaut Gold was added to the S&P Global Gold Index and the Global Mining Index. Argonaut has maintained inclusion in these two indices.
At the end of 2011, Argonaut Gold had a fully diluted market cap of $824 million (2010 ended at $383 million) and an average trading volume of 556,000 shares a day (2010 ended at 150,000 shares a day).
Mr. Peter Dougherty, President and CEO of Argonaut Gold, stated "The Company takes great pride in being able to announce we have been included in the S&P/TSX Composite Index. The accomplishments our team has achieved in just two years are very gratifying, and it's all because of the dedicated employees we have throughout every level of our organization". Mr. Dougherty added: "Over that time period we have seen a continual increase in both our market capitalization and share liquidity. The company is focused on delivering on our objectives as we strive to continue Creating Value Beyond Gold".
gsfl
13 years ago
2012 Project Initiatives
Gold Production has Begun at La Colorada
TORONTO, ONTARIO--(Marketwire - Feb. 27, 2012) - Argonaut Gold Inc. (TSX:AR) ("Argonaut" or the "Company") is pleased to announce its plans for 2012 project initiatives for both of the Company's operating mines in Mexico. The El Castillo mine is located 100 km north of the capital city of Durango in Durango, Mexico, and the La Colorada mine is located 50 km southeast of the capital city of Hermosillo in Sonora, Mexico.
El Castillo 2012 Initiatives:
-- Mining Fleet
-- In Q1, the haulage fleet will increase to a total of 18, one hundred
ton capacity trucks.
-- Expanding heap leach capacity
-- In Q2, west leach pad #7A will be commissioned, providing an
additional 2.6 million tonnes capacity.
-- Reducing truck haulage requirements
-- In Q3, a new crushing, conveying and stacking system will be in
place reducing truck haulage requirements.
-- Future Pad expansions
-- In Q4, construction to begin on pad #8 on the west side land which
was acquired at the end of 2011.
Pete Dougherty, Argonaut President and CEO, stated: "These initiatives will be implemented in a stepped phase throughout the year, and are designed to create a more efficient mining environment at El Castillo. At the end of last year as we extended operations to the east pads and plant, El Castillo experienced higher cash operating costs. We feel these initiatives will mitigate these costs. We believe El Castillo will be in a position to take the next steps in advancing production by year end with the addition of the new west pad #8."
La Colorada 2012 Initiatives:
-- Production in Q1
-- The Company began stacking and leaching material early in the first
quarter.
-- Completion of desorption plant and refinery
-- Expected to be completed in Q2, this new plant will provide refining
capacity for all Mexican operations allowing for faster metal
recovery and sales.
-- Expanding Mine Footprint
-- In Q2, the phase two permit for expansion is expected to be received
and mining is to begin at the La Colorada pit.
Mr. Dougherty commented: "The Company is happy to announce that gold production has begun at the La Colorada mine. We are currently reprocessing material from the existing leach pads. Construction is well underway on the new desorption and recovery plant, as well as the refinery. When completed in the second quarter, it will have the capacity to handle material from all of the Company's Mexican operations. The enhancement of the desorption and refining circuit will allow the Company to process all loaded carbon at a single site, therein reducing costs, and expediting our sales process. It is satisfying to see the La Colorada mine begin ahead of schedule and continue to expand."
Total Capital Expansion Program for 2012
El Castillo $8-10 million
La Colorada $15-20 million
San Antonio (1) $3-4 million
Exploration (2) $7-8 million
Note: (1) Subject to permitting process timeline
(2) Subject to exploration success
Mr. Dougherty commented: "The Company is pleased to add a second producing mine to the Company's portfolio. The initiatives underway at both mines will allow for greater efficiencies and enhancements to production. Gold production at El Castillo is expected to be between 17,000 and 18,000 ounces for Q1 and is budgeted to increase each quarter. Q4 production is expected to reach 21,000 - 22,000 ounces, finishing the year for a total of 75,000 and 80,000 ounces at an average cash cost for the year of $625 to $650 per ounce. Gold production at La Colorada is expected to be between 2,000 and 2,500 ounces of gold for Q1 with gradual increases anticipated each quarter;. Q4 production is expected to be between 4,500 - 5,500 ounces at an average cash cost for the year of $625 to $650 per ounce. Full year La Colorada production is expected to be 13,500 to 17,000 ounces."
About Argonaut Gold
Argonaut is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the La Colorada Mine in the State of Sonora, Mexico, the advanced exploration stage San Antonio project in the State of Baja California Sur, Mexico, and several exploration stage projects, all of which are located in Mexico.
Creating Value Beyond Gold
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward-looking statements (or forward-looking information). The Company's plans involve various estimates and assumptions and its business and operations are subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company's most recent Annual Information Form and most recent Management Discussion and Analysis on file with the Canadian securities regulatory authorities on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update the forward-looking information contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein. The release should also reference La Colorada as being brought into production without a feasibility study demonstrating economic and technical viability and that there may be increased uncertainty and certain risks (identify if possible) of failure associated with the production decision.
Qualified Persons
Preparation of this press release was supervised by Mr. Thomas Burkhart, Argonaut's Vice President of Exploration and a "Qualified Persons" as defined by NI 43-101. Mr. Alberto Orozco, Argonaut's Mexico Exploration Manager, also supervised the drill programs and on-site sample preparation procedures at La Colorada.
For more information, please refer to the appropriate project's technical report available on the Company's website as well as www.sedar.com:
La Colorada NI 43-101 Preliminary Economic Assessment La Colorada Project
Sonora, Mexico (October 15, 2011)
El Castillo NI 43-101 Technical Report on Resources and Reserves Argonaut
Gold Inc. El Castillo Mine Durango State, Mexico (November 6,
2010)
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