Argonaut Gold Announces Positive Feasibility Study for its Magino Project

Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) is pleased to announce the results of a feasibility study (“FS”) for its 100% owned Magino gold project (“Magino” or the “Project”) located 40 kilometres northeast of Wawa, Ontario, Canada. A 10,000 tonne per day processing facility was selected for the FS in order to significantly reduce the initial capital requirement.
As quoted in the press release:

Pete Dougherty, President & CEO stated: “We believe this FS demonstrates that Magino is a strategic, long-life asset in an attractive mining jurisdiction, Ontario. We have been able to appropriately scale the Project to a manageable capital number while providing the optionality of expanding the scale of the project in the future either through operational cash flow during Magino’s life or through a potential joint-venture partnership. The 10,000 tonne per day project reports an average grade of 1.4 g/t Au during the first five years and 1.2 g/t Au during the 14 years of active mining.”

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