Month: November 2015

Mr. Arturo Prestamo, President and CEO of Santacruz stated: “First and foremost this agreement allows us to immediately leverage on the extra milling capacity available at our Rosario Mine which will help us realize certain economies of scale. In this regard we note that mineralization previously processed from the Contracuña properties reacted favourably on a metallurgical basis.” Mr. Prestamo continued, “In addition, the agreement will allow us to operate the Contracuña mill at 500 tpd capacity after a nominal capital expenditure upgrade. Further, the Company will be in position to evaluate the possibility of upgrading the Contracuña mill throughput capacity and if the economics are favourable we can explore the opportunity to increase the mining operations.”

As a follow up to the press release dated October 22, 2015, Argonaut Gold Inc. is pleased to announce that the illegal blockade at its El Castillo mine ended on the night of Friday, October 30, 2015. The Company and the community leaders have entered into an agreement in principal. A definitive agreement will be ratified by the community members in the near future. As of the end of the blockade, all mine personnel were remobilized and the site is fully operational. During the illegal blockade, Company personnel were able to continue to operate the leaching facilities and plant to ensure no safety or environmental incidences occurred.