-->

El Castillo Complex

El Castillo Gold Mine & San Agustin Gold/Silver Mine

Status: Operating Mine
Location: Durango, Mexico
Ownership: 100% Argonaut Gold
Acquisition: El Castillo - December 2009
San Agustin – December 2013
Mineral Reserve and Mineral Resource estimates(1):
 
Project Category Tonnes (millions) Au
Grade
(g/t)
Contained
Au
Ounces
(000s)
Ag
Grade
(g/t)
Contained
Ag
Ounces
(000s)
El Castillo(2) Proven 3.3 0.57 62    
El Castillo(2) Probable 33.7 0.39 419    
San Agustin(2) Probable 78.4 0.30 768 10.2 25,593
El Castillo Complex(2) Proven & Probable 115.4 0.34 1,249 10.2 25,593
El Castillo(3) Measured 4.1 0.54 70    
El Castillo(3) Indicated 54.3 0.36 625    
San Agustin(3) Indicated 95.9 0.28 865 9.5 29,466
El Castillo Complex(3) Measured & Indicated 154.3 0.31  1,560 9.6 29,466
El Castillo(3) Inferred 1.5 0.36 17    
San Agustin(3) Inferred 11.0 0.21 74 9.0 3,161
El Castillo Complex(3) Inferred 12.5 0.23 91 9.0 3,161

(1) Mineral Resources are presented inclusive of Mineral Reserves. Numbers may not sum due to rounding.
(2) The Mineral Reserves for El Castillo and San Agustin, which together form the El Castillo Complex, set out in the above table were taken from the El Castillo Complex Technical Report, including depletion from July 1, 2017 to December 31, 2017 through mining activities, are valid as of January 1, 2018 and used a gold price of $1,200 per ounce and silver price of $17 per ounce. Cut-off grades, depending on rock and ore type, varied from 0.14 g/t AuEq for oxide to 0.57 g/t Au for silicified sulphide.
(3) The M&I Mineral Resources and Inferred Mineral Resources for El Castillo and San Agustin, which together form the El Castillo Complex, set out in the above table were taken from the El Castillo Complex Technical Report, including depletion from July 1, 2017 to December 31, 2017 through mining activities, are valid as of January 1, 2018 and used a gold price of $1,400 per ounce and silver price of $20 per ounce. Cut-off grades, depending on rock and ore type, varied from 0.09 g/t AuEq for oxide to 0.47 g/t Au for silicified sulphide.

Technical Reports:
 

El Castillo Complex:
March 27, 2018 - 2018, NI 43-101 Technical Report on Resources and Reserves El Castillo Complex, Durango, Mexico

El Castillo:
February 24, 2011 - 2010, N.I. 43-101 Technical Report On The El Castillo Project, Durango, Mexico
July 31, 2008 - 2008, N.I. 43-101 Technical Report On The El Castillo Project, Durango, Mexico

 San Agustin:
June 10, 2016 – Technical Report & Updated Preliminary Economic Assessment San Agustin Heap Leach Project Durango, Mexico
February 19, 2015 – Technical Report and Preliminary Economic Assessment San Agustin Heap Leach Project Durango, Mexico
October 3, 2014 – 2014, N.I. 43-101 Technical Report On The San Agustin Project, Durango, Mexico
April 16, 2009 – 2009, N.I. 43-101 Technical Report on The San Agustin Project, Durango, Mexico

 
El Castillo Gold Mine

Project Location and Summary:

The El Castillo Complex is comprised of the El Castillo Gold Mine and San Agustin Gold/Silver Mine. The El Castillo Complex mining concessions are located in the municipality of San Juan del Rio in the central part of the State of Durango, Mexico approximately 100 km north of the city of Durango.

The El Castillo project, which consists of an open pit gold mine, two crushing facilities, two cyanide heap leach pads, two gold recovery plants, and associated support infrastructure, is located on seven mining concessions totalling approximately 2,045 hectares (ha), and on land where surface rights are owned by Argonaut. The gold mine commenced construction and operations in 2007 with commercial production reported in 2008. With a $15 million investment in the infrastructure of the property, the production profile was brought up to a 72,000 ounce run rate by Q4 2010, within just one year of acquiring ownership of the company.

The San Agustin property consists of four mineral claims totalling 1,065 ha and is located in the northern San Lucas de Ocampo Mining District. The main part of the San Agustin property is composed of two concessions acquired from Silver Standard Resources Inc. (Sliver Standard) in December of 2013. In December of 2013 the San Agustin Project was purchased by Argonaut from Silver Standard. Argonaut began mining operations at the San Agustin property in February of 2017, pouring gold and silver doré in September of 2017, and commencing commercial production in October of 2017.

Presentations
Financial Filings
Analyst Coverage
Videos
Stock Performance
Latest News
Gold Operations
Contact Us