Argo Gold drills 2.65 metres of 26 g/t gold at Uchi Lake, Ontario

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Argo Gold Inc. [ARQ-CSE; ARBTF-OTCQB;  A2ASDS- XFRA, XSTU, XBE] has completed a 17-hole, 2,670-metre drill program at the Northgate area of the Uchi Lake gold project in the Red Lake Gold District, northwest 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, Northgate and Raingold as well as identified a new zone of mineralization 100 metres east of Raingold.

At Northgate, seven drill holes tested 1,000 metres of strike length; extending the zone of known gold mineralization to 500 metres. Previous exploration has identified gold mineralization at Northgate over 225 metres of strike length with 15 metres of strike length of very high-grade gold exposed right at surface.

Drill Hole AGN-21-024 intersected 26.26 g/t gold over 2.65 metres from 29.95- 32.6 metres as well as a low-grade halo of anomalous gold for an additional 16 metres. The high-grade gold mineralization consists of a quartz vein containing visible gold, galena, some pyrite, and ubiquitous tourmaline in a chloritized shear zone.

The low-grade gold halo in the footwall consists of moderate-to strongly foliated mafic metavolcanics with pervasive carbonate alteration and containing quartz veinlets. Drill Hole AGN-21-025 intersected 9.24 g/t gold over 0.95 metres in a lower grade envelope of a 10.5 metres of 1.01 g/t gold.

Drill Hole AGN-21-30 located 225 metres northeast of the Northgate high-grade gold mineralization at Northgate intersected 22.7 g/t gold over 1.15 metres in a mineralized envelope of 8.54 g/t gold over 3.10 metres.

Drill Hole AGN-21-028, located 500 metres northeast of the Northgate high-grade gold mineralization, intersected the mineralized trend with low-grade mineralization of 0.35 g/t gold over 104.4-104.8 metres within an anomalous halo of 0.04 g/t gold over 10.1 metres from 100.0-110.1 metres. An anomalous silicified zone with quartz-carbonate-tourmaline veins was intersected at the start of the hole from 5-11 metres grading 0.02 g/t over 6 metres.

Drill Hole AGN-21-029, located 700 metres northeast of the Northgate high-grade gold mineralization did not intersect material mineralization.

Drill Hole AGN-21-26 and AGN-21-31 tested 140 metre and 240 metre step-outs to the southwest of the high-grade gold mineralization at Northgate on the inferred trend. AGN-21-26 intersected hanging wall intermediate tuffs and breccias and one quartz vein stringer of 0.23 g/t gold over 0.95 metres at a depth of 75.6 metres but did not intercept the auriferous horizon on the mineralized trend.


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