Argonaut Gold Announces Record Gold Production of 19,700 Ounces at El Castillo in Q4; Record Annual Gold Production of 72,000 Ounces for 2011 (Up 40% From 2010)

Marketwire - Mining and Metals | January 17, 2012 | 9:35 pm Precious Metals Europe Latin America Gold 

TORONTO, ONTARIO–(Marketwire – Jan. 17, 2012) – Argonaut Gold Inc. (TSX:AR) (“Argonaut” or the “Company”) is pleased to announce gold production for Q4 2011 of 19,700 ounces and a total of 72,000 ounces for 2011. These are records for both quarterly and annual production. The Company is also providing production guidance range for 2012 of 85,000 to 95,000 ounces of gold.

Fourth Quarter 2011 Highlights:

  • Gold production of 19,700 ounces, 8% increase over Q4 2010
  • Record gold ounces sold of approximately 20,500, a 42% increase over Q4 2010
  • Tonnes mined increased to greater than 1.8 million tonnes per month, an 11% increase over Q4 2010
  • El Castillo eastern processing facility was commissioned and fully operational during Q4
  • New resource calculation, production decision and construction commencement for the La Colorada project
  • Year-end cash balance of $36 million
Read the full news release

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