Argo Gold drills 1.8 metres of 132.3 g/t gold at Uchi, Ontario

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Argo Gold Inc. [ARG-CSE; ARBTF-OTC] reported the completion a 17-hole, 2,670-metre drill program at the Uchi Lake gold project in the Red Lake district, northwestern Ontario. The exploration targets at the Uchi Gold Project area continues to be the narrow vein, high-grade gold mineralization; a common economic model in the Canadian Shield where a series of high-grade gold veins are mined using narrow vein mining methods. The 2021 drill program was designed to test additional new targets (75%) and expand known gold mineralization (25%).

The 2021 exploration program extended the strike length of the mineralized zones at Woco to 400 metres, at Northgate to 500 metres and at Raingold a new zone of mineralization was identified 100 metres east of Raingold. At Raingold, channel sample results are pending from the south extension zone stripped for 280 metres along a shear zone with abundant sulphides. Exploration drilling to date at the Uchi Gold Project has tested mineralization at a depths of 60 to 120 metres with the exception of Woco drill hole AGU-19-007 that intersected 7.4 g/t gold over 0.5 metres that was intercepted at depth of about 200 metres.

The Uchi Break is located 230 metres west of the Woco mineralized trend. Drill hole AGU-21-019 tested a gold biogeochemical anomaly on the Uchi Break and intersected 0.45 g/t gold over 1.4 metres in massive and semi-massive sulphides intersected at 75.1-75.8 metres and 76.9-80.4 metres. This drill hole is 190 metres south of AGU-19-009 that intersected 0.35 g/t gold over 3.6 metres in similar massive and semi-massive sulphides.

Drill hole AGW-21-020 tested the Woco Vein from the east looking for footwall structures and intersected with 1.92 g/t Au over 1.1 metres at 121 metres. Drill hole AGW-21-021 was a 200-metre step-out south of the high-grade Woco Vein and intersected an altered zone of quartz, epidote, and tourmaline and anomalous gold of 0.45 g/t gold over 1 metre at 78.85 metres. A 3.13-metre wide lamprophyre dike located near the mineralized/altered zone and indicates the deep-rooted nature of the high-grade Woco vein system.

Drill results at the Woco Zone also include 132.3 g/t gold over 1.8 metres at 88 metres and 20.4 g/t gold over 0.5 metres at 107 metres. Surface high-grade gold mineralization from channel sampling at Woco include 10.4 g/t gold over 1.1 metres and 58.2 g/t gold over 0.55 metres.

Three drill holes tested the Woco-Northgate structural corridor between the high-grade Woco Vein and the high-grade Northgate zone that also had a biogeochemical anomaly. Both AGU-21-22 and AGU-21-23 identified quartz veins and quartz/carbonate veinlets with disseminated sulphides near the end of the drill holes along the strike extension of the lithostructural trend that hosts the Woco and Northgate Zones. In addition, drill holes AGU-21-22 and AGU-21-32 intersected multiple zones of sulphide-bearing rocks with anomalous gold assays. The sulphide mineralization consists of abundant pyrite and pyrrhotite with minor chalcopyrite, sphalerite and galena.

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