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Argo Gold Drills 132 g/t Gold Over 1.8 m At Its Flagship Woco Gold Project

Newsfile Corp.

Toronto, Ontario--(Newsfile Corp. - March 22, 2019) - Argo Gold (CSE: ARQ) (the "Company" or "Argo Gold") is pleased to announce the first batch of drill results from its winter exploration drill program at the 100% owned Woco Gold Project, outside the Red Lake Gold District in Ontario, Canada. The Company targeted three distinct gold-bearing areas with the 2,500 metre drill programme. The current analytical results include data from the first five drill holes targeting the Woco mineralized zone, previously identified in 1993/1994. Argo Gold was successful in confirming these historic drill results. Highlights include 1.8 metres of 132 g/t Au (including 0.50m @ 304 g/t Au) 0.50m of 1.02 g/t Au and 0.50m of 20.4 g/t Au from three of the five holes.

Bill Kerr, Lead Exploration Geologist, commented: "We are very pleased to be able to duplicate some of the extremely high-grade results as reported by a previous operator. While the analytical results have confirmed the grade, expected in the core by the abundant visible gold, a significant part of Argo Gold's focus was to extend the width and plunge extent of the high-grade shoot. However, the Woco Zone was only one part of this gold project and a number of other target areas were also tested."

Argo Gold's fifteen hole, 2,500 meter helicopter-supported program at Woco/Northgate, is now fully completed on time, on budget and crews have demobilized. Two of the fifteen drill holes targeted the Uchi Break, three holes targeted the Northgate Vein, several kilometres to the south of the Woco Zone and the balance of the holes tested the Woco vein strike and plunge extensions. The results presented herein represent the first batch of assays returned from the laboratory, with two additional batches of results expected in the weeks ahead.

Results from the Woco Gold Project are provided in the table below.

Hole ID
From (m) To (m) Interval (m) Au (g/t)
AGW-19-001
87.80 89.60 1.80 132.39

Including 87.80 88.30 0.50 51.40

Including 88.30 88.80 0.50 304.00

Including 88.80 89.30 0.50 57.00

Including 89.30 89.60 0.30 107.00
AGW-19-002 No significant mineralization


AGW-19-003 No significant mineralization


AGW-19-004
34.22 34.72 0.50 1.02
AGW-19-005
107.19 107.69 0.50 20.40

 

Holes AGW-19-002 and AGW-19-003, collared at -60° and -70° from the same setup, were located approximately 100 m grid north of AGW-19-001 to attempt to define the northern limits of the Woco Shoot. AGW-19-004, collared at -50°, was spotted 200 metres grid north of AGW-19-001 to test for a reappearance of the Woco Shoot. AGW-19-005, collared at -45° degrees, was located roughly 50 metres grid north of AGW-19-001 to more closely define the shoot margins.

All distances represented in the table are measured along the core length and do not represent true thickness. All gold results are as received from the analytical laboratory and any cutting factors have not been applied.

Bill Kerr, P. Geo, Lead Exploration Geologist of Argo Gold, is the Qualified Person who assumes responsibility for the technical disclosures in this press release.

QA/QC Samples were split with a diamond saw, tagged and placed in securely sealed bags in the field, and transported by Argo Personnel to Dryden to Activation Laboratories Ltd. (Actlabs), which is ISO 17025 accredited. The diamond saw, after the last sample of every visible gold, was cleaned by scrubbing and then run through a brick for ten seconds. In addition, a blank sample was inserted into the sample stream after every instance of visible gold. A rigorous programme of inserted duplicates, blanks and standards was instituted. The laboratory batch size was 35 samples, so Argo Gold ensured that blanks, duplicates, and inserted OREAS control standards (three separate standards representing low, medium, and high-grade values) were inserted every twenty samples. These results have been scrutinized and values were well within high tolerances. Every sample was analyzed for Fire Assay Gold with a gravimetric finish. Where visible gold was observed, these samples were flagged and were processed instead by pulp/metallics with a Fire Assay gravimetric finish. Samples with high base metal content were processed by Fire Assay and then the pulp was shipped off for INAA.

At Actlabs, the samples were sorted and dried in a 60C oven. Each sample was then crushed up to 90% passing 10 mesh, riffle split, and a 250g sample was pulverized to 95% passing 150 mesh. The pulverized samples were analyzed for gold using a Fire Assay with a gravimetric finish, other than visible gold samples as noted previously, Actlabs also has their internal system of inserted blanks, duplicates, and inserted control standards which they used to ensure quality of the results.

ON BEHALF OF THE BOARD OF DIRECTORS OF ARGO GOLD

Chris Irwin

Interim-CEO

For more information, please contact:

Paul Poggione
Vice-President, Corporate Development
613-277-1989
paul@argogold.ca

Ken Storey
Chief Financial Officer
905-301-3404
kj.storey@argogold.ca

About Argo Gold Inc.

Argo Gold is listed on the Canadian Securities Exchange under the ticker symbol ARQ. Argo Gold is focused on gold exploration projects in central and northwestern Ontario. Argo Gold's website is www.argogold.ca.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward-looking Information Cautionary Statement

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.

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