TORONTO, Jan. 28, 2019 /CNW/ - Argonaut Gold
Inc. (TSX: AR) (the "Company", "Argonaut Gold" or
"Argonaut") is pleased to announce it has received a positive
Decision Statement for the Environmental Assessment ("EA") under
the Canadian Environmental Assessment Act, 2012 for its 100%-owned
Magino Project ("Magino Project", "Magino" or the "Project") from
the Honourable Catherine McKenna, Minister of Environment and
Climate Change.
This decision follows a thorough and science-based environmental
assessment conducted by the Canadian Environmental Assessment
Agency with participation of Indigenous groups, the public and
federal departments including Fisheries and Oceans Canada,
Environment and Climate Change Canada, Natural Resources Canada,
Health Canada and Transport Canada.
Pete Dougherty, President &
CEO stated: "The approval of the EA is the completion of a major
milestone for the Magino Project, a process that included
cooperation of the Company, Indigenous and non-Indigenous
communities and the Canadian government to the benefit of all
stakeholders. Magino is a strategic, long-life asset located
in the attractive mining jurisdiction of Ontario, Canada. As demonstrated in our
Feasibility Study published December
2017, the size, location, existing infrastructure and
economics of the Project give Argonaut significant flexibility to
explore options around Magino on our own or with partners. Our
plans in 2019 are to continue our work to secure other key
authorizations required for the Project, as well as continue our
detailed design and engineering efforts."
Subsequent key authorizations underway for Magino include but
are not limited to the conclusion of the Provincial EA, the
construction permit, the Mine Closure Plan and the Schedule 2
authorization. The Company anticipates the conclusion of the
Provincial EA later in the first half of 2019 and subsequent
authorizations during 2020.
For further information on Magino, please see the report as
listed below on the Company's website or on www.sedar.com:
Magino Gold
Project
|
Feasibility Study
Technical Report on the Magino Project, Ontario, Canada dated
December 21, 2017 (effective date November 8, 2017)
|
Cautionary Note Regarding Forward-looking
Statements
This press release contains certain
"forward-looking statements" and "forward-looking information"
under applicable Canadian securities laws concerning the proposed
transaction and the business, operations and financial performance
and condition of Argonaut Gold Inc. ("Argonaut" or "Argonaut
Gold"). Forward-looking statements and forward-looking
information include, but are not limited to, statements with
respect to estimated production and mine life of the various
mineral projects of Argonaut; synergies and financial impact of
completed acquisitions; 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; the
realization of mineral reserve estimates; the timing and amount of
estimated future production; costs of production; success of
exploration activities; and currency exchange rate fluctuations.
Except for statements of historical fact relating to
Argonaut, certain information contained herein constitutes
forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan," "expect,"
"project," "intend," "believe," "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements are based
on the opinions and estimates of management at the date the
statements are made, and are based on a number of assumptions and
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those projected in the forward-looking statements. Many of
these assumptions are based on factors and events that are not
within the control of Argonaut and there is no assurance they will
prove to be correct.
Factors that could cause actual results to vary materially from
results anticipated by such forward-looking statements include
changes in market conditions, variations in ore grade or recovery
rates, risks relating to international operations, fluctuating
metal prices and currency exchange rates, changes in project
parameters, the possibility of project cost overruns or
unanticipated costs and expenses, labour disputes and other risks
of the mining industry, failure of plant, equipment or processes to
operate as anticipated. 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. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Argonaut undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change except as required by
applicable securities laws. The reader is cautioned not to
place undue reliance on forward-looking statements. Statements
concerning mineral reserve and resource estimates may also be
deemed to constitute forward-looking statements to the extent they
involve estimates of the mineralization that will be encountered if
the property is developed. Comparative market information is
as of a date prior to the date of this document.
About Argonaut Gold
Argonaut Gold is a Canadian gold company engaged in exploration,
mine development and production. Its primary assets are the
El Castillo mine and San Agustin mine, which together form the El
Castillo Complex in Durango,
Mexico and the La Colorada
mine in Sonora, Mexico.
Advanced exploration projects include the San Antonio project in Baja California Sur, Mexico, the Cerro del
Gallo project in Guanajuato,
Mexico and the Magino project in Ontario, Canada. The Company also has
several exploration stage projects, all of which are located in
North America.
SOURCE Argonaut Gold Inc.