Magino Mine has the gold grades to grow – by Ian Ross (Northern Ontario Business – February 24, 2021)

Argonaut Gold begins construction site prep near Dubreuilville as exploration drilling reveals expanding ore body

The discovery of high-grade gold at Dubreuilville’s Magino Mine project may deliver some longevity to the mine’s life.

With site preparation just getting underway for an open-pit mine, Argonaut Gold is already talking about a major mine expansion, after finding high-grade mineralization below and beside the proposed pit.

Over a projected 17-year mine life, Magino is expected to produce approximately 2.2 million ounces of gold. The first five years of gold production are expected to average 150,000 ounces annually.

The presence of high-grade gold introduces the real possibility of both an open-pit and an underground operation.

In a recent webcast to investors, Dan Symons, Argonaut’s vice-president of corporate development and investor relations, said Magino’s mine life could more than double as they begin planning to become a 300,000-ounce-a-year producer based on what they’re seeing in the exploration program.

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