Argo Gold Commences Drilling at the Uchi Lake Gold Project
Toronto, June 8, 2021 - Argo Gold Inc. (CSE: ARQ) (OTCQB: ARBTF) (FSE: P3U) ("Argo Gold") has commenced drilling at the Uchi Lake Gold Project. A helicopter supported program started in early June. All drill sites have been spotted and most drill pads are cut for a 2500 metre drill program. The program is designed to test the down-dip continuity of high-grade gold results returned from the 2020 channel sampling program as well as test reconnaissance targets along the projected strike of known high-grade mineralization. The drill rig is currently at the Raingold Zone, which has never been drilled, and one of the first targets will be to test down-plunge of the channel intersection of 2.3 metres (true width) of 31.2 g/t Au which was returned from the 2020 field exploration program.
Argo Gold initiated bedrock stripping, trenching, washing, geological mapping and channel sampling at the Uchi Lake Gold Project in April 2021 and will continue in phases throughout the 2021 field season. Objectives of the bedrock stripping and trenching are to expand and define known gold mineralization, identify additional gold mineralization along the mineralized trends, and to follow-up on the biogeochemical anomalies identified by the Summer 2019 biogeochemical survey that covered 5 kilometres of strike length on the main mineralized trend. (Argo Gold news release October 28, 2019).
Completion of LiDAR and Aerial Photography at Uchi Lake
Argo has also completed a LiDAR and Aerial Photography at Argo Gold's Uchi Lake Project in the Red Lake District. The data collection by Eagle Mapping covered 23.2 square kilometers consisting of 10 strips with > 50% overlap totalling 65-line kilometers. The data provided by the survey are being used to enhance the base map and assist with planning, access and execution of bedrock stripping, trenching, washing, channel sampling, geological mapping, and drilling. The data is also useful in identifying geophysical structures under canopy allowing for visualization of resistant or recessive lithologies, faults, and veins.
Figure 1
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The Uchi Lake Gold Project
The exploration targets for the Uchi Gold Project area continues to be the narrow vein, high-grade gold mineralization; a common economic model in the Canadian Shield where a series of high-grade gold veins are mined using narrow vein mining methods.
William Kerr, P.Geo., consulting geologist of Argo Gold, is the Qualified Person, as defined by National Instrument 43-101, who has approved the scientific and technical disclosure in this news release.
Argo Gold
Argo Gold is a Canadian mineral exploration and development company, focused on gold exploration at the Uchi Gold Project in the Red Lake District. Argo Gold recently added the Talbot Lake Gold Project to its portfolio; (Argo Gold news release June 11, 2020). Information on Argo Gold can be obtained from SEDAR at www.sedar.com and on Argo Gold's website at www.argogold.ca. Argo Gold is listed on the Canadian Securities Exchange (www.thecse.com) CSE: ARQ, as well as OTCQB: ARBTF and FSE: P3U.
For more information please contact:
Judy Baker, CEO
(416) 786-7860
jbaker@argogold.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available.
Figure 2
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