TORONTO, April 1, 2021 /CNW/ - Argonaut Gold Inc.
(TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased
to announce the appointment of Lowe J.
Billingsley in the role of Senior Vice President, Operations
effective April 12, 2021.
![Argonaut Gold Inc. Logo (CNW Group/Argonaut Gold Inc.) Argonaut Gold Inc. Logo (CNW Group/Argonaut Gold Inc.)](https://mma.prnewswire.com/media/1478803/Argonaut_Gold_Inc__Argonaut_Gold_Strengthens_Management_Team_and.jpg)
Mr. Billingsley has 32 years of industry experience spanning
executive leadership, multi-cultural engagement, operations,
project management and technical expertise. He was previously
the Mine Manager of the Stillwater East Mining Complex for
Sibanye-Stillwater. Prior to, Mr. Billingsley spent 27 years
with AngloGold Ashanti in various roles increasing in
responsibility, seniority and leadership with the most recent being
Senior Vice President, Americas. In this role with AngloGold
Ashanti, Mr. Billingsley was responsible for managing the Americas
Region, comprising four operations in Brazil and Argentina with annual production of 850,000
gold ounces and a workforce of approximately 5,000 employees and
4,000 contractors. Mr. Billingsley holds a B.A. in Geology
from The Colorado College, in Colorado
Springs.
Pete Dougherty, President and CEO
stated: "We are excited to welcome Lowe to the Argonaut senior
management team and look forward to leveraging his experience in
managing a multi-asset operations portfolio. Lowe is an
accomplished international mining professional with a demonstrated
track record of vision, leadership, engagement, sound judgement and
execution. His wealth of experience will be a tremendous
asset to the Company."
Ana Paula Sale Update
The previously announced definitive agreement to sell its Ana
Paula project (see press releases dated September 11, 2020 and January 4, 2021) expired on March 31, 2021. The acquiring company did
not fulfill its obligations in relation to financing and receipt of
certain regulatory and other approvals.
Pete Dougherty, commented: "Our
current growth strategy is focused around the Magino project and
secondarily around the Cerro del Gallo project. We felt we
had entered into a win-win agreement on the sale of Ana Paula
whereby we could bring some value forward and also maintain upside
to the project through an equity ownership and royalty.
Unfortunately, the acquiring company was not able to fulfill its
obligations and after extending the agreement once already, we feel
we are better off pursuing other options for Ana Paula at this
time. We believe Ana Paula has the ability to be a
foundational asset in time and are excited about having exposure to
the project. We expect to be in a position to publish an
update pre-feasibility study for the Ana Paula project during the
second quarter of 2021, which we feel will demonstrate a relatively
low capital cost, low operating cost, high-grade open pit project
with future underground potential."
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, the La Colorada
mine in Sonora, Mexico and the
Florida Canyon mine in Nevada,
USA. The Company also holds the construction stage Magino
project, the advanced exploration stage Cerro del Gallo project and
several other exploration stage projects, all of which are located
in North America.
For more information, contact:
Argonaut Gold Inc.
Dan
Symons
Vice President, Corporate Development & Investor Relations
Phone: 416-915-3107
Email: dan.symons@argonautgold.com
SOURCE Argonaut Gold Inc.