AR-T Argonaut Gold Acquires Land, Submits Permit Application and Files the Technical Report for its San Agustin Project
TORONTO, ONTARIO--(Marketwired - June 13, 2016) - Argonaut Gold Inc. (TSX:AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce that it has come to an agreement to acquire the necessary land to develop its San Agustin project in Durango, Mexico. This recent land agreement allowed the Company to file for the required Change in Use of Soil permit. The Company expects to make a construction decision during the second half of 2016.
Pete Dougherty, President & CEO stated: "With the EIS already completed and now that we have come to an agreement on the land for the San Agustin project and filed our permit application, we expect to receive a permit decision during the third quarter of 2016. Assuming a positive construction decision in the fourth quarter of 2016, we would anticipate first gold production from San Agustin in the third quarter of 2017."
Argonaut also confirms the filing of the Technical Report for the updated Preliminary Economic Assessment (see press release dated April 29, 2016) in relation to its San Agustin project in Durango, Mexico, pursuant to National Instrument 43-101 of the Canadian Securities Administrators.
For further information on the San Agustin project, please see the Technical Report titled "Technical Report and Updated Preliminary Economic Assessment San Agustin Heap Leach Project Durango, Mexico" effective date of April 29, 2016 and available on www.sedar.com and on the Company's website, www.argonautgold.com.
About Argonaut Gold
Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production stage El Castillo mine in Durango, Mexico, and La Colorada mine in Sonora, Mexico. Advanced exploration stage projects include the San Antonio project in Baja California Sur, Mexico, the Magino project in Ontario, Canada and the San Agustin project in Durango, Mexico. The Company also has several exploration stage projects, all of which are located in North America.
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