Argonaut Gold Completes Cerro Del Gallo Acquisition
Argonaut Gold Inc. (TSX: AR) says the company has closed the previously announced acquisition of the Cerro del Gallo project in central Mexico through the purchase of all of shares of a subsidiary of Primero Mining Corp., as announced earlier this month. The deal was listed at $15 million, with the potential for Argonaut to reduce this by $1.7 million through recovery of value-added tax. The CDG deposit sits within the San Antón property, which covers an area of 25,269 hectares and consists of 12 granted, contiguous mining concessions all now owned by Argonaut through its subsidiary, the company says. The concessions include areas of historical mines formerly worked for high-grade vein-hosted gold and silver.
By Allen Sykora of Kitco News; firstname.lastname@example.org
Roxgold Encouraged By QV Prime Drill Results
Monday November 27, 2017 08:44
Roxgold Inc. (TSX: ROXG) says an infill and extensional drilling program along the QV Prime structure at the Bagassi South deposit has resulted in high-grade results. The area is located less than two kilometers from the company’s flagship underground gold mine at the 55 Zone. Drill results included 144 grams of gold per tonne over 0.5 meter, 40.7 g/t Au over 0.4 meter and 13.2 g/t Au over 0.9 meter. “We are very pleased with the large number of high-grade results reported as part of the infill and extensional drilling campaign at Bagassi South,” says John Dorward, president and chief executive officer of Roxgold. “The consistency of mineralized intervals along the QV Prime structure is encouraging as we prepare an updated mineral resource estimate in the first quarter of 2018 for QV Prime with the aim of increasing life of mine production beyond that envisaged in the recently released Bagassi South feasibility study.”