Argonaut Gold Drills High Grade Gold Veins Below the El Crestón Pit at its La Colorada Mine …

TORONTO, April 26, 2021 /CNW/ – Argonaut Gold Inc.

Pete Dougherty, President & CEO commented: “It has always been our intension to drill test below the El Crestón pit to determine whether the La Colorada mine has the potential to transition from an open pit mine to an underground mine in the future.

The high-grade zones are deep extensions of the gold rich veins now being mined within the El Crestón open pit and display good lateral continuity along strike.

Since the El Crestón pit is actively being mined, the DD twin holes were drilled from lower benches and therefore the down-hole distance of the RC holes and DD holes vary slightly, and the twin intervals are close though not a perfect match.

Brian Arkell, Vice President of Exploration stated: “During 2020, we added 130,000 gold ounces to reserves at La Colorada, and we see significant potential to add additional mineralization this year as well.

Mining activity in the La Colorada district dates to the mid-1700s when underground mining took place at various periods of time until the early 1900s.

At El Crestón, mineralization occurs along east-west oriented sets of sub-parallel veins, vein breccias and stockworks that maintain good lateral continuity for over 800 metres along strike and are known to continue extensively at depth.

The preparation of this press release was supervised and approved by Brian Arkell, Argonaut Gold’s Vice President of Exploration and a Qualified Person under NI 43-101.

The Company has implemented a QA/QC program to ensure sampling and analysis of all exploration work is conducted in accordance with industry and CIM Exploration Best Practices Guidelines.

. Forward-looking statements and forward-looking information include, but are not limited to statements with respect to the realization of mineral reserve estimates; the timing and amount of estimated future production; costs of production; estimated production and mine life of the various mineral projects of Argonaut; timing of approval for modifications to existing permits; permitting and legal processes in relation to mining permitting and approval; the benefits of the development potential of the properties of Argonaut; the future price of gold, copper, and silver; the estimation of mineral reserves and resources; success of exploration activities; and currency exchange rate fluctuations.

Argonaut believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon.

Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended.

Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in Nevada, USA.

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