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Resource Clips


Posts tagged ‘Argonaut Gold Inc (AR)’

Meet the juniors

September 24th, 2012

Toronto Resource Investment Conference 2012 links investors with opportunities

By Ted Niles

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When market uncertainty prevails, perspective is one of the most valuable (and, needless to say, scarce) commodities an investor can hope for. And there will be perspective in abundance at Cambridge House’s Toronto Resource Investment Conference 2012 on September 27 and 28.

“It’s an anomaly right now,” says Cambridge House Owner and Founder Joe Martin. “You have record-setting prices for most of the mineral ore that we’re looking for, and yet the prices of the stocks are extremely depressed. That’s primarily because of the lack of available capital as a consequence of the world crisis, particularly in Europe. Looking at gold: companies are profitable at $800 gold, and yet we have clients who have more cash in the bank than their market cap. So it’s been a very tough period for these companies to raise money. You’re seeing financings at 10, 15, 20 cents when they should be in the 60-, 70-, 80-cent range.”

Martin notes that the last three months were particularly brutal for junior mining stocks, but he believes that August saw the bottom of the market. “We went through a very depressing summer, but the tempo of my sales force and the attitude of my whole staff in the last three weeks has been very upbeat. And we’re a good barometer of that, because we’re in touch with a wide variety of the exploration people. If you look at the TSX Venture index you’ll see that we’ve turned the corner.”

Toronto Resource Investment Conference 2012 links investors with opportunities

Investors, miners and explorers will converge on Toronto for one of the industry’s biggest annual events.

That said, it’s some indication of the strength of a number of Cambridge House’s exhibitors that they have remained reasonably unscathed despite the length and sharpness of this particular bear market’s claws. Most remarkable would be Argonaut Gold TSX:AR, whose share price has increased over 260% during the last two years, reporting in August record revenue and production from its La Colorada and El Castillo mines in Mexico. Not quite so dramatic but still noteworthy are GoldQuest Mining TSXV:GQC, Great Panther Silver TSX:GPR, Eurasian Minerals TSXV:EMX, Comstock Metals TSXV:CSL and Balmoral Resources TSXV:BAR, who have all performed well in recent months.

Martin says there is no shortage of opportunities for juniors moving forward. Consider that half the world’s population is living in countries whose economies are growing at 6% per year. Note too that central banks increased their gold purchases 571% in 2011. “Ore bodies run out, and it’s primarily up to the Canadian juniors to find new ones,” he declares. “Canadian juniors are very adept at doing this. Right now the big thing is the rush for battery-technology metals—lithium, graphite and, coming down the pipe, zinc. It’s the Canadian juniors that are meeting this demand.”

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Argonaut reports Mexico Gold Assays including 10.52 g/t over 27.4m

May 8th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningArgonaut Gold Inc TSX:AR announced results from its La Colorada Project in Sonora State, Mexico. Assays include

2.31 g/t gold and 32.8 g/t silver over 6.1 metres
5.83 g/t gold and 10.6 g/t silver over 5.6 metres
10.8 g/t gold and 26.4 g/t silver over 2 metres
8.99 g/t gold and 5.9 g/t silver over 8 metres
(including 34.73 g/t gold and 12.6 g/t silver over 2 metres)
10.52 g/t gold and 6.62 g/t silver over 27.4 metres
(including 108.41 g/t gold and 33.2 g/t silver over 1.5 metres)
1.07 g/t gold and 11.25 g/t silver over 94.5 metres
8.6 g/t gold and 5.25 g/t silver over 8 metres

The company also announced results from its San Antonio Project in Baja California Sur, including

1.55 g/t gold over 7.6 metres
0.56 g/t over 25.9 metres
0.6 g/t over 57.9 metres
0.94 g/t over 15.2 metres
2.58 g/t over 54.5 metres (including 10.38 g/t over 10.5 metres)
0.75 g/t over 51.7 metres
1.73 g/t over 12.9 metres

VP Exploration Tom Burkhart commented, “The drill program at La Colorada has been mainly focused on the Veta Madre target with four drill rigs active through the first four months of 2012. We have expanded Veta Madre, doubling the area of mineralization approximately 400 by 300 metres. The El Creston resource also remains a high priority with drilling scheduled during the second and third quarters of this year. Drilling in the El Creston mineralization continues down depth, below previous drilling, and on strike in both directions. In addition to ongoing resource delineation on Veta Madre and El Creston, the company has identified multiple target areas within the large La Colorada mineral system that are also scheduled for continued exploration and drilling.

“Results to date at the San Antonio drill program are promising. The drill program at San Antonio was designed to explore the extent and depth of mineralization of the newly identified La Colpa mineral zone. Mineralization at La Colpa has expanded, by approximately 250 metres north/south by 200 metres east/west, and remains open to the south and down dip. Our current thinking is that La Colpa represents a localized parallel zone of mineralization situated approximately 100 metres east of the main resource area. Additional drilling will be required to define the limits of La Colpa mineralization and the company expects that La Colpa may provide a near-surface addition to the San Antonio resource base.”

View Company Profile

Contact:
Nichole Cowles
Investor Relations Manager
775.284.4422 x 101

by Ted Niles

Prodigy reports Ontario Gold Results including 1.19 g/t over 261.2m

April 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: On December 11, 2012, Prodigy Gold Inc was acquired by Argonaut Gold Inc TSX:AR.)

Prodigy Gold Inc TSXV:PDG announced results from its Magino Gold Project in south-central Ontario. Highlights include

1.19 g/t gold over 261.2 metres
(including 1.84 g/t over 67 metres)
0.83 g/t over 201.5 metres
(including 1.07 g/t over 133 metres)
1.37 g/t over 125 metres
0.62 g/t over 278 metres
(including 1 g/t over 134 metres)
1.48 g/t over 109 metres
(including 9.52 g/t over 10 metres)
1.01 g/t over 89 metres
(including 1.44 g/t over 54.3 metres)

A full feasibility study for the proposed open-pit mine is scheduled for completion in 2012. President/CEO Brian Maher commented, “The tremendous success of our infill and resource expansion drilling program, both at Lovell Lake and in the main Magino Deposit, has prompted the company to plan for an updated gold resource estimate for the Magino Project in June 2012. In addition, the current drill results demonstrate excellent continuity within the Magino Gold Deposit in areas previously modeled as inferred resources.”

View Company Profile

Contact:
Prodigy Gold Inc
604.688.9006
888.688.9006

by Greg Klein

Prodigy reports Ontario Gold Assays including 1.24 g/t over 189.2m

March 20th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: On December 11, 2012, Prodigy Gold Inc was acquired by Argonaut Gold Inc TSX:AR.)

Prodigy Gold Inc TSXV:PDG announced assays from its Magino Mine gold project in Ontario. Results include

0.78 g/t gold over 131 metres (including 2.06 g/t over 40.3 metres)
1.78 g/t over 55 metres
1.05 g/t over 121.5 metres
1.24 g/t over 149.4 metres
1.09 g/t over 17 metres
1.17 g/t over 40 metres
1 g/t over 78 metres
0.67 g/t over 158 metres (including 1.06 g/t over 41 metres)
1.58 g/t over 10 metres
0.88 g/t over 89 metres (including 2.31 g/t over 22 metres)
6.24 g/t over 6 metres
1.12 g/t over 13 metres
0.61 g/t over 117 metres (including 1.86 g/t over 20 metres)
1.15 g/t over 28 metres
9.42 g/t over 5 metres
0.87 g/t over 42 metres
0.97 g/t over 22 metres
0.91 g/t over 34 metres

President/CEO Brian Maher said, “The company is very pleased with the latest Magino drill results. As the Magino gold deposit continues to grow, we will add additional drill capacity to accelerate the progress of the gold resource definition and expansion drilling. Prodigy is seeking to identify the ultimate size and scale of the Magino gold resource in anticipation of settling on final design criteria to be utilized in the upcoming bankable feasibility study. Completing this drilling program will allow us to select the proper process plant capacity and mining fleet size to optimize project economics.”

View Company Profile

Contact:
Prodigy Gold Inc
604.688.9006

by Ted Niles

Prodigy reports Ontario Gold Assays up to 0.97 g/t over 139.6m

March 13th, 2012

Resource Clips - essential news on junior gold mining and junior silver mining(Update: On December 11, 2012, Prodigy Gold Inc was acquired by Argonaut Gold Inc TSX:AR.)

Prodigy Gold Inc TSXV:PDG announced results from its Magino Gold Project in northern Ontario. Assays include

0.97 g/t gold over 139.6 metres
0.42 g/t over 265 metres
(including 1.06 g/t over 40 metres)
0.66 g/t over 155 metres
(including 1.22 g/t over 45 metres)
4.2 g/t over 24 metres
(including 8.35 g/t over 10 metres)
0.42 g/t over 279 metres
(including 1.02 g/t over 38 metres)
0.69 g/t over 72 metres

Magino has a resource estimate of 67.6 million tonnes grading 1 g/t for 2.18 million ounces gold indicated and 54.2 million tonnes grading 0.99 g/t for 1.72 million ounces inferred using a 0.35 g/t cutoff. A December 2011 PEA shows a pre-tax NPV of $939 million and an IRR of 36% using a 5% discount rate. Production is estimated at 249,300 ounces a year over an 11-year mine life.

View Company Profile

Contact:
Prodigy Gold Inc
604.688.9006

by Greg Klein