Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Argonaut Gold Inc T.AR

Alternate Symbol(s):  T.AR.DB.U | ARNGF

Argonaut Gold Inc. is a gold producer with a portfolio of operations in North America. The Company’s operating mines include Florida Canyon, Magino, La Colorada and San Agustin. The Florida Canyon Gold Mine area is situated in northwestern Nevada within the Basin and Range physiographic province. The Magino mine property is a past producing underground gold mine located 40 kilometers (km) northeast of Wawa, Ontario, approximately 14 kilometers southeast of the town of Dubreuilville. The property consists of seven patented mining claims, four leased mining claims and 69 unpatented mining claims totaling 2,204.495 hectares. The past producing La Colorada gold-silver mine property is located approximately 40 km southeast of Hermosillo, Sonora State, Mexico. The San Agustin property consists of four mineral claims totaling 1,065 ha and is located in the northern San Lucas de Ocampo Mining District.


TSX:AR - Post by User

Post by ARGONAUTGOLDon Feb 20, 2024 10:26am
181 Views
Post# 35888760

Underground Mining and Gold Production in the Goudreau Lake

Underground Mining and Gold Production in the Goudreau Lake
In 1985 and early 1986, Muscocho Explorations Ltd. and McNellen Resources Inc. formed a joint venture. They drilled 29 surface holes as part of their operations on the Magino Gold Property, which they co-owned equally. The drilling, along with previous work, revealed a reserve of 1,747,170.6 tonnes at 8.6 g/t, amounting to 483,087.6 ounces of gold. 
 
In late 1986, a portal and ramp were initiated to the west and beneath the old shaft. Levels were developed at elevations of 30.48 and 60.96 meters (76.2 meters below the surface and the old workings). The construction of a mill with a capacity of 362.874 TPD began in 1987, and stoping commenced. The first gold pour occurred in June 1988. From 1988 to 1992, Muscocho milled 697,333.15 tonnes at a recovered grade of 5.19 g/t, resulting in the production of 105,543 ounces of gold. Mining was primarily through shrinkage stopes from 1988 to sometime in 1989, yielding an average grade of 6.84 g/t Au. In 1989, mill throughput was increased to 580.59 TPD, and production primarily came from longhole stopes at a grade of 3.73 g/t Au.
 
The Magino Gold Mine, Island Gold Mine, Kremzar Gold Mine, Edwards and Cline Gold Mine, Renabie Gold Mine, Eagle River Gold Mine, Mishi Pit Gold Mine, Wawa Area Gold Mine, and Murphy Gold Mine are all situated within the Goudreau Lake Deformation Zone (GLDZ) and Michipicoten Greenstone belt. This belt is part of the Archean Superior Province, which forms the core of the Canadian Shield and is a major source of Canada’s gold production.
 
Island Gold Mine: The Island Gold Mine has extracted a substantial amount of material, totaling 3,456,300 tonnes. This extraction has resulted in the production of 1,054,588 ounces of gold. The grade of the gold extracted is quite high, at 8.39 grams per tonne.
 
Magino Mine: The Magino Mine has extracted an even larger amount of material, totaling 6,697,334 tonnes. This has led to the production of 113,228 ounces of gold. The grade of the gold extracted is 5.14 grams per tonne.
 
Kremzar Mine: The Kremzar Mine has extracted 356,395 tonnes of material, resulting in the production of 37,768 ounces of gold. The grade of the gold extracted is 3.42 grams per tonne.
 
Edwards Mine: The Edwards Mine has extracted 1,394 tonnes of material, leading to the production of 485 ounces of gold. The grade of the gold extracted is quite high, at 10.96 grams per tonne.
 
Cline Mine: The Cline Mine has extracted 301,024 tonnes of material, resulting in the production of 63,328 ounces of gold. The grade of the gold extracted is 6.51 grams per tonne.
 
Renabie Mine: The Renabie Mine has extracted a massive 5,065,526 tonnes of material, leading to the production of 1,100,000 ounces of gold. The grade of the gold extracted is 6.85 grams per tonne.
 
Eagle River Mine: The Eagle River Mine has extracted 4,661,708 tonnes of material, resulting in the production of 1,447,260 ounces of gold. The grade of the gold extracted is 9.94 grams per tonne.
 
Mishi Pit Mine: The Mishi Pit Mine has extracted 907,384 tonnes of material, leading to the production of 64,701 ounces of gold. The grade of the gold extracted is 2.23 grams per tonne.
 
Wawa Area Mine: The Wawa Area Mine has extracted 433,384 tonnes of material, resulting in the production of 119,000 ounces of gold. The grade of the gold extracted is 7.80 grams per tonne.
 
Murphy Mine: The Murphy Mine has extracted 21,057 tonnes of material, leading to the production of 2,450 ounces of gold. The grade of the gold extracted is 3.42 grams per tonne.
 
These mines have collectively contributed to a total production of 21,901,524 tonnes at an average gold grade of 5.68 g/t for 4,002,718 ounces of gold.

 

User image

Geology Ontario

<< Previous
Bullboard Posts
Next >>