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May 9, 2011 Argonaut Gold Updates Resource for San Antonio Gold Resource Increases by 33% to 1.6 Million Ounces TORONTO, ONTARIO--(Marketwire - May 9, 2011) - Argonaut Gold Inc. (TSX:AR) ("Argonaut" or the "Company") is pleased to report that the overall Measured & Indicated gold resource at its 100% owned San Antonio Project in Baja California Sur, Mexico has increased from 1,216,000 to 1,615,000 ounces. Additionally, the company continues a 10,000 meter drill program designed to further understand the total resource at the San Antonio project. 2011 Accomplishments to Date: -- San Antonio -- Q2, 2011 updated resource with 2010 Drill Program (36,000 meters) -- 1,615,000 oz. Au in Measured and Indicated Resources, 33% increase in resource over prior N.I. 43-101 compliant technical report (1,216,000 as of August, 2010) -- Metallurgical work on San Antonio samples; recovery ranges from 50- 85% depending on mineralization type at 3/8" crush size -- 2011 Drill Program of 10,000 meters, 1,920 meters completed -- La Colorada -- 2011 Drill Program of 19,000 RC meters and 6,000 Core meters, 13,600 meters completed -- Drill results for March 2011 included 20 holes for 385 meters -- Drill results for May 2011 included 11 holes and more pending results -- El Castillo -- Q1, 2011 annualized production run rate of 72,000 gold ounces for the 2nd consecutive quarter -- 2011 Guidance of 70-75,000 ounces @ $575 - $600 cash cost -- 1,500 meter Core Drill Program completed on April 25, 2011 and Metallurgical test work is underway SAN ANTONIO Updated Resource Estimate Argonaut is pleased to announce that it has received an updated National Instrument 43-101 compliant mineral resource from AMEC E& C Services in Reno, NV ("AMEC") for its 100% owned San Antonio gold deposit in Baja California Sur. The updated mineral resource for San Antonio follows a 36,000 meter drill program completed in the Fall of 2010, immediately prior to the acquisition by Argonaut Gold. The resource has been estimated at 1,615,000 ounces of gold, represented by more than 51 million tonnes at 0.98 g/t. This is a 33% increase over the previous technical reports' Measured and Indicated resources of 1,216,000 ounces. Table 1- Updated Mineral Resource Summary of the San Antonio property as of April, 2011 |
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| aus der Diskussion: | Argonaut Gold..Mid-Tier Goldproduzent |
| Autor (Datum des Eintrages): | Pirat_Micha (10.05.11 06:54:34) |
| Beitrag: | 16 von 751 (ID:41476172) |
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