Argonaut Gold continues to find high-grade gold beside and below where it wants to carve out an open-pit mine near Dubreuilville.
The Toronto mine developer released results on Sept.16 from an exploration drill program specifically targeting high-grade mineralization near the planned pit in northeastern Ontario.
Since July 2019, the company has discovered a number of high-grade gold bearing structures trending westward from Alamos Gold’s Island Gold Mine, their neighbour to the east.
One drill hole interception returned a result of 13.4 grams per tone (g/t) of gold, including 55.6 g/t over two metres. Another interception showed 46.8 g/t over 9.0m metres, including 140.0 g/t over a one-metre length.
Argonaut began a 20,000-metre program at Magino last March. The company recently raised $10 million in flow-through share financing, all of it earmarked for Magino exploration.