Below are updates on the Magino project construction, which includes the latest site photos and project highlights.

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Magino Progress Video  - October 2022

  • Site Works and Construction updates includes progress on the Process Building and Mill Site, Water Quality Control Pond, Tailings Management Facility and the Power Plant.
  • Pre-production mining continues.
  • Continued engagement with community members and all Indigenous communities.
  • Building our Team and mobilizing our Workforce.
  • Download the Magino Newsletter for a complete summary of the highlights:


Interactive Panorama - Mill Site & Process Plant Area

For Magino Vendor/Supplier Inquiries and General Questions please contact us at:

Key Facts
Location Ontario, Canada
Ownership 100%
Status Construction
Mine Type Open pit, conventional mill
Metals Gold
Acquisition December 2012

Magino Mineral Resource Estimate at $1,800 Gold1

Mineral Resource Category Tonnes (000s) Grade (g/t Au) Contained Au Ounces (000s)
Measured 43,558 0.98 1,367
Indicated 88,849 0.93 2,652
Measured & Indicated 132,407 0.94 4,019
Inferred 20,919 0.78 526

(1)Notes to accompany Magino Mineral Resource table:
• The Mineral Resources have an effective date of 31 January 2022 and the estimate was prepared using the definitions in CIM Definition Standards (10 May 2014).
• All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely.
• Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
• Mineral Resources are based on a gold price of US$ 1800/oz and an estimated gold recovery of 92%.
• The Mineral Resources are reported at a gold cutoff grade of 0.28 g/t. This cutoff grade is based on unit mining costs of US$ 2.60 per tonne and unit processing + G&A costs of US$ 14.80/t.
• The Mineral Resources are inclusive of Mineral Reserves.
• It is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
• Mineral Resources are reported in relation to a conceptual constraining pit shell in order to demonstrate reasonable prospects of eventual economic extraction, as required by the definition of Mineral Resource in NI 43-101; mineralization lying outside the pit shell is excluded from the Mineral Resource.

Magino Mineral Reserve Estimate At $1,600 Gold2

Mineral Reserve Category Tonnes (000s) Grade (g/t Au) Contained Au (000s)
Proven 26,286 1.24 1,044
Probable 39,238 1.10 1,383
Total Proven & Probable 65,526 1.15 2,427

(2)Notes to accompany Magino Mineral Reserve table:
• The Mineral Reserve estimate has an effective date of January 31, 2022 and was prepared using CIM Definition Standards (May 10, 2014).
• Numbers may not sum due to rounding.
• The Mineral Reserve is based on estimated dilution of 16% and ore loss of 4.8% for direct feed material and an estimated dilution of 15% and ore loss of 30% for lower grade stockpile material.
• The Mineral Reserve is based on an estimated plant recovery of 92%.


The Magino mine property is a past producing underground gold mine located 40 kilometres northeast of Wawa, Ontario, approximately 14 kilometres 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. A positive feasibility study was published December 2017 showcasing open-pit mining opportunity.


The property is located within the Michipicoten greenstone belt of the Archean Superior Province. The Michipicoten greenstone belt is a structurally and stratigraphically complex assemblage of volcanic, sedimentary and intrusive rocks that were metamorphosed to greenschist and amphibolite facies. Several suites of plutonic rocks ranging in composition from gabbro to monzogranite and syenite occur in and around the Michipicoten greenstone belt. The property is situated in the Goudreau-Lochalsh gold district of the Wawa gold camp.

Supracrustal rocks in the Goudreau-Lochalsh district consist of Cycle 2 felsic to intermediate pyroclastic metavolcanics capped by pyrite-bearing ironstone. To the north are pillowed, massive and schistose, mafic to intermediate metavolcanics and minor intercalations of Cycle 3 mafic pyroclastic rock. Several medium to coarse-grained quartz dioritic to dioritic sills and/or dikes intrude all metavolcanic rocks.

Gold mineralization at the former Magino Mine is primarily hosted by the Webb Lake Stock, which intrudes Cycle 3 mafic volcanic rocks. The Webb Lake Stock is a felsic intrusion that has been interpreted as being a trondhjemite but is referred to as a granodiorite in mine terminology and in this report. The long axis of the Webb Lake Stock is aligned roughly parallel to the regional supracrustal rock stratigraphy. The Webb Lake Stock is east northeast-striking and has a steep northerly dip. The granodiorite contains 5 to 10% veins of quartz with lesser carbonate veins and minor pyrite. The veins - 27 - generally parallel the orientation of the Webb Lake Stock and surrounding metavolcanics.

Argonaut is currently focusing its evaluation on shear related zones of gold-bearing quartz-sericitemineralization that contain narrow higher-grade gold-bearing quartz veins and stockworks which were the focus of former underground mining. Argonaut and the predecessor company that owned the Magino Project, Prodigy Gold Inc., completed surface drilling campaigns in 2011, 2012, 2015, and 2016. These programs were designed to in-fill and expand mineralization identified by earlier drilling, and in some cases, replace older, non-compliant drill sample data.


The discovery of iron ore deposits around the turn of the 20th century in the Michipicoten area southwest of Wawa led to prospecting for other minerals. Gold was discovered in 1918 near Goudreau.

Prospecting and mining have been semi-continuous since then, being particularly active from the mid-1920s to the beginning of World War II. Gold production from the area was sporadic. Various companies owned, operated and explored Magino from 1917 to today.

Total drilling, both surface and underground, within the Magino resource area is approximately 371,450 metres in 2,414 holes. The Qualified Person responsible for this section was unable to verify drilling completed before 2006 and excluded that data from being used to estimate Mineral Resources. This resulted in the removal of about 114,000 metres of data associated with 1,273 holes, most of which were short, small diameter underground core holes.

Total historic production from the Magino property is 803,135 tonnes of ore yielding 114,319 ounces Au at 4.43 g/t Au.

"Magino is truly a valuable and strategic asset. By moving Magino forward, we are executing on our vision to transform Argonaut from a junior, relatively high-cost producer with short mine lives to an intermediate, lower-cost producer with long mine lives."

Technical Reports


Prodigy Gold Incorporated (Prodigy) is a wholly owned subsidiary of Argonaut Gold Incorporated (Argonaut) and holds 100 percent (%) of the land tenure that comprises the Magino property. Both Argonaut and Prodigy are committed to operating in a safe, environmentally responsible, cost efficient manner, while honouring commitments to the communities where they operate. This commitment is grounded in their corporate culture and is operationalized through their corporate governance activities, community contributions, and their environment, health, and safety practices.

For more information on the Magino Gold project, please contact


Supplemental Impact Assessment Report for the Magino Gold Project

Environmental Assessment Decision Statement

Minister's Decision Statement - January 24, 2019

Draft Environmental Assessment Report

Environmental Impact Statement

Technical Supporting Documents

Project Description Reports

Fish Habitat Offsetting and Mine Waste Consultation

Impact Assessment Agency of Canada Documents

Reportable Incidents

Annual Reports