Argonaut Gold Reports on Resource Expansion Drilling at San Antonio
Argonaut Gold Inc. (News - Market indicators) ("Argonaut" or the "Company") is pleased to provide an update on the continuing exploration program at its 100% owned San Antonio project ("San Antonio") following completion of the acquisition of Pediment Gold Corp ("Pediment") in January, 2011. San Antonio is located in Baja California Sur, Mexico. The San Antonio gold resource identified within a two-kilometer long mineralized trend has seen significant drilling since 2007. Data from the 36,000 meters of drilling completed in 2010 is not included in the current resource estimate and is being incorporated into an updated National Instrument 43-101 compliant resource study scheduled for completion by the end of Q2, 2011.
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Diamond | G Mexico | Gold | Gold Producer | Market | Mexico |


The 2010 drill program included 26,746 meters of reverse-circulation drilling (RVC) and 9,324 meters of combined PQ-HQ-size core drilling, contained within the following areas:

Summary of Infill and step-out drilling   Other drill programs
Los Planes 13,903   Met Samples (PQ) 1,818
Intermediate Zone 7,974   Oriented geotech (HQ) 1,844
Las Colinas 4,206   Condemnation and monitor wells 4,359
La Colpa 1,968      
Total infill 2010 28,050   Total Other programs 8,020
TOTAL 2010 PROGRAM – 36,070


  • Increase drill density to enhance and convert gold mineralization into a measured category.

  • New mineralization identified 200 meters from the Los Planes resource area in step-out drill-hole 10CORC-305, intercepted 30.48 meters of 0.91 g /t Au starting at 232.3 meters.

  • Additional step-out drill holes revealed other newly discovered gold zones that will see 2011 l follow-up drilling 

  • Drill Hole Highlights: Drill hole 10PLDD-40 intercepting 45 meters of 8.53 g/t Au.

Table 1 Highlight gold assays for the Los Planes Drill holes marked as "infill" are RVC, while those marked as "metallurgy" are PQ-size Diamond holes
10PLDD-38   2,639,825   000/-90   92.80   109.20   16.40   4.37   Metallurgy
And           118.00   148.50   30.50   3.73    
10PLDD-39   2,639,789   000/-90   28.05   54.64   26.59   1.85   Metallurgy
And           61.66   95.90   34.24   0.80    
And           103.30   169.50   66.20   1.85    
10PLDD-40   2,639,793   090/-78   70.51   115.50   44.99   8.53   Metallurgy
And           155.85   192.50   36.65   1.55    
10PLDD-52   2,639,503   000/-90   38.90   69.79   30.89   2.63   Metallurgy
And           92.65   131.05   38.40   1.77    
10PLDD-53   2,639,502   090/-60   19.00   32.85   13.85   0.57   Metallurgy
And           60.75   72.90   12.15   1.55    
And           78.50   85.95   7.45   0.49    
10PLDD-56   2,639,556   000/-90   13.20   76.70   63.50   0.89   Metallurgy
10PLDD-80   2,639,753   090/-60   41.00   99.00   58.00   3.72   Infill
And           113.00   169.00   56.00   1.10    
10PLRC-259   2,639,519   000/-90   23.47   37.19   13.72   0.72   Infill
And           96.62   177.39   80.77   1.39    
10PLRC-260   2,639,396   090/-85   136.25   188.06   51.82   2.26   Infill
And           195.68   207.87   12.19   0.51    
10PLRC-271   2,639,571   000/-90   24.99   53.95   28.96   0.49   Infill
And           58.52   79.86   21.34   1.25    
And           111.86   203.30   91.44   1.68    
10PLRC-272   2,639,571   090/-65   17.37   31.09   13.72   0.88   Infill
And           84.43   148.44   64.01   1.66    
Table 2 Highlight gold assays for 2010 step-out holes. All holes presented in this table are RVC
10CORC-303   2,639,543   090/-60   72.24   75.29   3.05   1.13
And           134.72   139.29   4.57   1.10
And           226.16   229.21   3.05   0.59
And           282.55   299.31   16.76   0.27
And           305.40   308.45   3.05   1.18
10CORC-305   2,639,800   090/-60   232.27   262.75   30.48   0.91
and           293.24   299.33   6.10   0.27
10CORC-306   2,640,466   090/-60   79.86   84.43   4.57   0.80
and           143.87   153.01   9.14   0.55
10CORC-307   2,640,662   090/-60   98.15   102.72   4.57   1.77
10CORC-311   2,640,203   090/-60   180.44   206.35   25.91   0.20


  • New discovered continuous gold mineralization identified on a strike length of four-hundred meters; 2010 drilling significantly expanded the Intermediate Zone both on strike and down dip by adding a total of 7,900 meters of drilling (see previous Pediment news releases dated October 6, 2010 and November 18, 2010).

  • Drill Hole Highlights: Drill hole 10PLDD-75 intercepting 34 meters of 2.51 g/t Au.

Table 3 Highlight gold assays for the Intermediate zone. All holes in this table are core holes.
  Au (g/t)
10PLDD-61   2,639,150   000/-90   18.00   36.27   18.27   1.27
and           62.90   78.20   15.30   0.99
and           84.20   100.40   16.20   0.48
10PLDD-62   2,639,101   090/-70   155.00   189.90   34.90   1.27
10PLDD-63   2,639,196   090/-70   20.72   55.60   34.88   0.66
and           64.00   85.20   21.20   0.45
10PLDD-67   2,639,042   090/-75   137.80   167.00   29.20   1.57
10PLDD-70   2,638,996   000/-90   159.90   192.00   32.10   0.77
10PLDD-75   2,639,150   090/-60   57.00   91.00   34.00   2.51
and           97.00   120.00   23.00   0.68


  • In-fill and step out drilling has continued to confirm the continuity of the ore zone and extend gold mineralization down-dip

  • Drill Hole Highlights: Drill hole 10LCDD-72 with 48 meters of 0.89 g/t Au, starting at surface. One of the deeper noted intercepts in drill hole 10PLRC-286 shows 39.62 meters of 1.09 g/t gold. This zone starts at 118 meters down dip and supports the depth continuity of the Las Colinas zone.

Table 4 Highlight gold assays for the Las Calinas zone.
  Length(m)   Au
10LCDD-72   2,638,553   090/-70   0.00   48.00   48.00   0.89
10PLRC-283   2,638,545   090/-78   133.20   169.77   36.58   1.07
and           175.87   194.16   18.29   0.59
10PLRC-285   2,638,597   000/-90   46.33   95.10   48.77   0.98
10PLRC-286   2,638,597   090/-77   117.96   157.58   39.62   1.09
10PLRC-293   2,638,753   090/-85   82.91   116.43   33.53   1.19


  • Obtained development data to include: oriented core for Pit Slope Design, PQ core Diamond drilling for metallurgical studies, condemnation drilling to sterilize areas for operations and drilling for support in hydrological studies.

Please see the Argonaut website for a complete list of drill holes under the Pediment ownership.

To view Figure 1 "Outline of Open Pit Design (as AMEC PA study 2010)", please visit the following link:

To view Figure 2 "San Antonio Project - 3D Perspective of gold-mineralized zones", please visit the following link:

To view Figure 3 "SAN ANTONIO GOLD PROJECT - LOS PLANES RESOURCE ZONE - CROSS SECTION 39,800 N (Looking North)" and Figure 4 "SAN ANTONIO GOLD PROJECT - INTERMEDIATE RESOURCE ZONE - CROSS SECTION 39,150 N (Looking North), please visit the following link:

In regards to the San Antonio gold resource expansion as a result of the drilling in 2010, Vice President of Exploration for Argonaut, Mr. Tom Burkhart said "The exploration and development work conducted at San Antonio during 2010 has significantly advanced the project. I am confident we have excellent potential to expand the project's gold resource. We have made good headway toward our objective of connecting the Las Colinas and Los Planes zones via the extension of the Intermediate zone. This represents a significant milestone as 400 meters of new strike length has been discovered and confirmed; this, coupled with the deposit expansion thru step out drilling indicates that significant exploration upside remains at San Antonio."


In mid-March, the Company commenced a 10,000 meter drill program that will include approximately 30 RVC holes in the Intermediate Zone and 40 RVC holes in Las Colinas. The objective is to upgrade the resources in both gold bearing areas to a measured category. Tom Burkhart added: "At San Antonio, there are three main ore zones hosted within the same large structural zone that strikes to the north/south and dips steeply to the west. The 2011 drill program will attempt to join the three gold zones by targeting minor post mineral offsets that currently separate these three resources. Ultimately, we believe this is one continuous structural feature."

In addition, further drilling is planned at La Colpa, which lies 100 meters east of Las Colinas. This underexplored area may represent a parallel mineralized zone where recent drilling results included a 16.6 meter intercept grading 0.52 g/t gold starting at surface, in drill hole number PLDD-86."


All drill data has been provided to AMEC E&C Services, Inc. (AMEC) in Reno Nevada who have been contracted to complete an updated National Instrument 43-101 complaint Technical Report, which will include an updated resource study utilizing all the 2010 drill data. This work is in progress and scheduled for completion by the end of the second quarter of 2011.

Qualified Person Comments/Quality Control Procedures

All summarized interval reported in this news release were calculated using a 0.20 g/t cut-off grade. Intervals contain no more than three low-grade to barren samples between mineralized samples containing over 0.20 g/t gold. The Company utilizes a system of Quality Assurance/Quality Control that includes insertion and verification of standards, blanks and duplicates consistent with industry standards. This Press Release was reviewed and approved by Thomas Burkhart, Argonaut Gold's Vice President of Exploration a Qualified Person under National Instrument 43-101. Mr. Burkhart also reviewed the reverse circulation and core drilling programs and on-site sample preparation procedures at San Antonio.

Samples from the San Antonio Project are shipped by commercial courier from the Company's facility in San Antonio directly to the preparation laboratory of ALS Chemex in Hermosillo, Sonora. The prep lab then sends the sample pulps to ALS Chemex's laboratory in North Vancouver, where they are assayed for gold by fire assay with atomic absorption (Au AA-23 assay method code; 0.005 to 10ppm detection limit). Samples over 10 g/t Au are assayed with gravimetric finish (Assay code AU-GRA21). All samples are also assayed by ICP-MS (code ME-ICP41) for a suite of 35 elements.

Statement regarding width of gold intercepts and true width: The structurally-controlled San Antonio deposit has a north-south to north-northeast strike and dips 45 to 55 degrees to the west. Drill holes oriented on an azimuth of 090 and a dip between 45 and 55 degrees are the closest to representing true widths. On the east portion of Los Planes, the mineralization folds over and becomes sub horizontal. Vertical holes at that location are the most representative of true width.

The potential quantities and grades disclosed herein are conceptual in nature, there has been insufficient exploration to define an updated mineral resources and it is uncertain if further exploration will result in these targets being delineated as an updated mineral resource. For further information on the San Antonio project, please refer to the technical report entitled "San Antonio Project, Baja California Sur, Mexico, NI 43-101 Technical Report on Preliminary Assessment", dated August 2, 2010 and revised August 10, 2010 available on SEDAR and Argonaut's website.

About Argonaut

Argonaut is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production-stage El Castillo Mine in the State of Durango, Mexico, the development stage San Antonio project and the past producing La Colorada project, both located in Mexico. Argonaut is a producing gold company created by former executive management team members of Meridian Gold Inc.

Creating the Next Quality Mid-Tier Gold Producer in the Americas.

Cautionary Note Regarding Forward-looking Statements

This news release contains forward-looking statements that involve risks and uncertainties that could cause results to differ materially from management's current expectations. Actual results may differ materially due to a number of factors. Except as required by law, Argonaut Gold Inc. assumes no obligation to update the forward-looking information contained in this news release.

Argonaut Gold Inc.
Nichole Cowles
Investor Relations Manager
(775) 284-4422 x 101
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

Argonaut Gold Inc.

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Argonaut Gold is a gold producing company based in United states of america.

Argonaut Gold holds various exploration projects in Mexico.

Its main assets in production are EL SASTRE GOLD MINE, EL SASTRE, EL SASTRE - EL ARENAL, EL SASTRE BRIDGE ZONE and EL SASTRE - LUPITA ZONE in Guatemala and EL CASTILLO in Mexico and its main exploration property is SAN ANTIONIO in Mexico.

Argonaut Gold is listed in Canada. Its market capitalisation is CA$ 256.6 millions as of today (US$ 205.1 millions, € 179.7 millions).

Its stock quote reached its highest recent level on January 25, 2013 at CA$ 9.99, and its lowest recent point on March 20, 2020 at CA$ 0.76.

Argonaut Gold has 176 940 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Nominations of Argonaut Gold Inc.
11/15/2013Announces New Chief Financial Officer
12/15/2011Announces New Chief Operating Officer
Financials of Argonaut Gold Inc.
3/16/2015Announces 2014 Revenue of $166.3M, $42.5M in Cash Flow from ...
8/6/2013Provides Notice of Second Quarter Financial Results on Augus...
7/25/2012Provides Notice of Second Quarter Financial Results on Augus...
3/19/2012Provides Notice of Fourth Quarter and Year End Financial Res...
8/5/2011Provides Notice of Second Quarter Financial Results on Augus...
Project news of Argonaut Gold Inc.
1/31/2014Confirms Filing of Prefeasibility Study for the Magino Proje...
1/20/2014CORRECTION FROM SOURCE - Argonaut Gold Announces Full Year 2...
1/20/2014Announces Full Year 2013 Gold Production of 120,224 gold equ...
12/31/2013Announces Completion of the San Agust=EDn project purchase f...
11/6/2013Announces Purchase of San Agust=EDn project from Silver Stan...
10/16/2013Announces Q3 Gold Production of 26,690 Ounces
7/15/2013Announces Record Q2 Gold Production of 33,586 Ounces
4/15/2013Announces Q1 Gold Production of 28,907 Ounces
2/25/2013Announces 2013 Production Guidance of 120-140,000 Ounces
1/17/2013Exceeds 2012 Guidance with Gold Production of 108,081 Ounces
1/17/2013Exceeds 2012 Guidance with Gold Production of 108,081 Ounces
7/18/2012Announces Q2 Gold Production of 24,123 Ounces
4/17/2012Announces Q1 Gold Production of 21,084 Ounces
7/15/2011Announces Q2 Gold Production of 17,453 Ounces
4/14/2011Announces Q1 Gold Production of 18,005 0unces
3/22/2011(San Antionio)Reports on Resource Expansion Drilling at San Antonio
2/14/2011(El Castillo)Provides 2011 Guidance on El Castillo Production of 70-75,00...
Corporate news of Argonaut Gold Inc.
5/25/2016Argonaut Gold Raises C$4.5M via Private Placement of Flow-Th...
5/4/2016Argonaut Gold Announces Results of Annual and Special Meetin...
5/3/2016Argonaut Gold Announces First Quarter 2016 Earnings per Shar...
4/29/2016Argonaut Gold Announces $30 Million Revolving Credit Facilit...
4/14/2016Argonaut Gold Announces First Quarter 2016 Production of 32,...
4/6/2016Argonaut Gold Further Strengthens Board and Management Team
1/18/2016Argonaut Gold Announces Updated Pre-Feasibility Study Result...
11/30/2015Mexus Gold is Pleased to Announce That Argonaut Gold Has Com...
11/24/2015Argonaut Gold Chairman Brian Kennedy Retiring; Jim Kofman to...
11/3/2015Argonaut Gold Announces Third Quarter 2015 Revenue of $32M; ...
11/2/2015Argonaut Gold El Castillo Update
10/22/2015Argonaut Gold El Castillo Update
10/19/2015Mexus Commences Drill Pad Construction for Argonaut
10/15/2015Argonaut Gold Announces Third Quarter 2015 Production of 28,...
9/17/2015Argonaut Gold Announces Updated Economic Parameters to the D...
9/14/2015Mexus Gold US Julio/Santa Elena Update
9/9/2015Mexus Gold US Press Release Correction
8/17/2015Argonaut Gold Updates Mexus Gold US on the Julio property
8/14/2015Argonaut Gold Announces Second Quarter 2015 Revenue of $44M;...
4/15/2015Announces First Quarter 2015 Production of 43,255 Gold Equiv...
3/16/2015Argonaut Gold Announces 2014 Revenue of $166.3M, $42.5M in C...
2/20/2015Argonaut Gold Confirms Filing of Technical Report and Prelim...
1/26/2015Argonaut Gold Receives TSX Acceptance of Shareholder Rights ...
1/20/2015Argonaut Gold Adopts Shareholder Rights Plan
1/13/2015Argonaut Gold Announces Full Year 2014 Gold Production of 13...
1/13/2015Argonaut Gold Announces Updates on the Magino and San Agusti...
1/12/2015Argonaut Gold Announces Updates on the Magino and San Agusti...
1/7/2015Argonaut Gold Announces Full Year 2014 Gold Production of 13...
11/6/2014Argonaut Gold Announces Third Quarter 2014 Revenue of $37.3M...
10/15/2014Argonaut Gold Announces Q3 Production of 32,122 Gold Equival...
10/3/2014Argonaut Gold Confirms Filing of National Instrument 43-101 ...
8/29/2014IIROC Trade Resumption - AR
11/12/2013Announces 3rd Quarter 2013 Revenue of $42.4M and Net Income ...
8/13/2013Announces 2nd Quarter 2013 Revenue of $44.9M and Net Income ...
5/14/2013Announces 1st Quarter 2013 Revenue of $43.1M and Net Income ...
4/26/2013Amends Annual Meeting Business in Response to ISS Comments
3/26/2013Announces 2012 Revenue of $187.1 Million and Net Income of $...
11/14/2012Announces Third Quarter 2012 Revenue of $72.9 Million and Ne...
10/15/2012and Prodigy Agree to Friendly Business Combination
10/15/2012and Prodigy Agree to Friendly Business Combination
10/15/2012and Prodigy Agree to Friendly Business Combination
9/4/2012Announces Updated PEA for the San Antonio Project, Projected...
8/15/2012Announces Record Production, Record Revenue and Record Earni...
5/15/2012Announces First Quarter 2012 Revenue of $24.4 Million and Ne...
5/8/2012Provides Exploration Update on San Antonio and La Colorada
4/25/2012for Annual and Special Meeting of Shareholders
3/30/2012Announces 2011 Revenue of $105 Million and Net Income of $26...
3/14/2012Added to the S&P/TSX Composite Index
2/27/2012Announces 2012 Project Initiatives
1/9/2012Announces the La Colorada Project on Track for Production in...
11/28/2011(El Castillo)Reports on Metallurgical Test Work for El Castillo Sulphide
10/24/2011Increases Measured and Indicated Resource at La Colorada to ...
9/14/2011to be Included in the S&P TSX SmallCap Index
8/15/2011Reports Q2 2011 Revenue of $21.6 Million Net Income of $5.2 ...
6/15/2011Provides Update on 2011 Drilling at La Colorada; Board Appro...
6/6/2011Reports Q1 2011 Revenue of $25.7 Million
5/20/2011Announces Intent to Terminate Registration Under U.S. Securi...
5/9/2011s Resource for San Antonio
4/7/2011Begins Resource Expansion Drilling at the La Colorada Projec...
3/31/2011Announces Q4 Revenue of $19.9 Million as Part of Year End Fi...
3/16/2011to Begin Trading on the S&P Canadian Index Operations
1/25/2011Shareholders and Pediment Gold Corp Shareholders Approve Bus...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 1.45
05/20 17:00 0.130
Prev close Open
1.32 1.34
Low High
1.34 1.63
Year l/h YTD var.
1.13 -  2.58 -39.33%
52 week l/h 52 week var.
1.13 -  3.98 -54.11%
Volume 1 month var.
2,772,755 -33.18%
24hGold TrendPower© : -44
Produces Gold
Explores for
Interactive chart Add to compare
Print Compare Export
Last updated on : 2/15/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 8.18-0.67%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.20+5.96%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.84+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 0.50-3.27%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.70-4.39%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 3.20-5.88%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.65-1.30%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.28+5.66%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.30+6.48%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 71.21+1.84%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.04-16.67%Trend Power :