Argonaut Gold Provides Update for La Colorada Mine

- June 5th, 2018

Argonaut Gold Inc. reported that the judiciary court hearing with respect to the company’s explosives permit for its La Colorada mine has been postponed and is awaiting imminent court scheduling.

Argonaut Gold Inc. (TSX:AR) reported that the judiciary court hearing with respect to the company’s explosives permit for its La Colorada mine has been postponed and is awaiting imminent court scheduling.

As quoted in the press release:

In order to keep all legal options available and to protect the company in the event the judiciary court process is not completed in a timely manner, the company re-iterates that it previously appealed the judiciary court’s original decision to temporarily suspend the explosives permit to the collegiate tribunal (an arm of the state supreme court that is tasked with overseeing the judiciary court).  This appeal requests that the collegiate tribunal re-instates the explosives permit so that the company can blast material while the judiciary legal process continues. 

With free-dig material in the pit and ore stockpiles, the company estimates it has sufficient ore to continue operations until the end of July at its budgeted crushing throughput level of 12,000 tonnes per day.  The company has thoroughly reviewed its 2018 consolidated production forecast and, under the assumption the explosive permit is re-instated by August 1, 2018, it re-iterates its consolidated production guidance of between 165,000 and 180,000 gold equivalent ounces.

The company continues to believe the legal action brought against the Secretary of National Defense and the Municipality of La Colorada is without merit.  The company is reassured by the support it has received, including that from members of the local La Colorada and extended Sonora community.  The company is taking every possible legal measure to prove its case and to re-activate blasting activities at its La Colorada mine as soon as possible.

Click here to read the full Argonaut Gold Inc. (TSX:AR) press release.

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