Toronto, Ontario--(Newsfile Corp. - June 22, 2017) - Argo Gold Inc. (CSE: ARQ) ("Argo Gold" or the "Company") commenced exploration activity at its Woco Gold Project in mid-May 2017. The Woco Gold Project is 100% owned by Argo Gold subject to a 2% NSR.
Exploration activity includes re-establishing access, sampling, geological and structural mapping, and prospecting in conjunction with the compilation and review of historical geological and geophysical data; as well as planning for follow-up drilling. Initial samples were sent for assay in mid-June and results are pending.
The Woco Gold Project is located in Earngey Township northwest of Uchi Lake proximal to the Uchi Lake Deformation Zone in the Birch-Uchi Greenstone Belt. This is 50 kilometres east of Red Lake, Ontario and 1.5 kilometres south of the past-producing Uchi Gold Mine.
Diamond drilling by St. Jude Resources in 1993 (Source: Assessment Files, MNDM) identified high grade gold quartz vein mineralization on a well-identified stratigraphic/structural horizon. Highlights of the drill results are as follows:
Lower "Rich Woco Vein" Intersections
| DDH | From (feet) | To (Feet) | Assay (Oz./ ton Au) | Length (feet) | True Width (feet) |
| 1 | 281.5 | 286.75 | 1.639 | 5.25 | 3.7 |
| 4 | 202.0 | 213.9 | 1.890 | 11.9 | 3.7 |
| 11 | 339.2 | 343.1 | 0.650 | 5.4 | 3 |
| 12 | 521.3 | 524.7 | 0.389 | 3.4 | 1.7 |
| 13 | 722.75 | 727.0 | 0.030 | 4.25 | 2.1 |
| 20 | 257.0 | 264.5 | 0.445 | 7.5 | 5.2 |
| 21 | 289.8 | 294.4 | 0.400 | 4.6 | 3.1 |
| 22 | 259.3 | 265.3 | 1.832 | 6.0 | 4.3 |
Upper "Weak Woco Vein" Intersections
| DDH | From (feet) | To (Feet) | Assay (Oz./ ton Au) | Length (feet) | True Width (feet) |
| 2 | 65.6 | 67.7 | 0.141 | 2.1 | 1.5 |
| 3 | 99.25 | 101.8 | 0.044 | 2.55 | 1.5 |
| 5 | 177.7 | 178.9 | 0.173 | 1.2 | 0.9 |
| 6 | 93.0 | 94.8 | 0.057 | 1.8 | 1.1 |
| 7 | 96.25 | 96.75 | 0.158 | 0.5 | 0.3 |
| 8 | 147.9 | 149.5 | 0.146 | 1.6 | 1.0 |
| 10 | 178.0 | 180.2 | 0.482 | 2.2 | 1.0 |
| 14 | 233.75 | 235.6 | 0.093 | 1.85 | 1.3 |
All assays were done by Wawa Assaying in 1993 using a Fire Assay with Gravimetric finish.
St. Jude Resources completed additional drilling in 1994 to test the down-plunge and strike extension of the vein (Source: Assessment Files, MNDM); highlights of these results are as follows:
Woco Down-Plunge and Strike Extension Intersections
| DDH | From (feet) | To (feet) | Length (feet) | Assay (Oz/ton Au) |
| 94-J-24 | 325.3 | 327.3 | 2.0 | 0.578 |
| 94-J-25 | 242.9 | 246.2 | 3.3 | 1.013 |
| 94-J-26 | 276.3 | 283.2 | 6.9 | 4.087 |
| 94-J-27 | 277.8 | 280.6 | 2.8 | 0.081 |
| 94-J-28 | 383.4 | 389.0 | 5.6 | 1.239 |
| 94-J-29 | 326.1 | 326.6 | 0.5 | 0.001 |
| 94-J-30 | 376.4 | 380.0 | 3.6 | 0.635 |
| 94-J-31 | 289.8 | 291.3 | 1.5 | 0.408 |
| 94-J-32 | 482.0 | 483.7 | 1.7 | 0.020 |
| 94-J-33 | 506.0 | 508.5 | 2.5 | 0.009 |
All assays were completed by Accurassay Laboratories, Thunder Bay, Ontario in 1994 using a standard fire assay method. The results from duplicate samples were averaged. Estimated true widths were not provided with the 1994 drill data.
The Company has not yet completed the work necessary to verify the past exploration results and since some of these results are historical in nature and some results predate National Instrument 43-101 ("NI 43-101") standards. In addition, a qualified person has not completed sufficient work to verify these historical results. The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Delio Tortosa, P.Eng., a "Qualified Person" as defined by NI 43-101 and a Technical Advisor for Argo Gold.
Argo Gold's website is www.argogold.ca
Judy Baker
(416) 786-7860
judybakertoronto@gmail.com
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.
