Friday, 1 October 2010

Argonaut Buys Gold Property

Argonaut Exploration
Shares Outstanding - 25.2 Million
Fully Diluted - 35.9 Million


After the market closed yesterday, Argonaut announced that it purchased the 2,230 hectare Columario Gold property, in the Terrace area of British Columbia, Canada.
This property sits just south of Argonaut’s other 100% owned, 177 square kilometre gold property named ‘Terrace’ which has demonstrated bonanza grades of gold, silver and copper.

The two properties leave Argonaut with a very large footprint in this key, mineral rich district.

Ray Cook, president of Argonaut, was quoted in the release saying, “Government geoscientists and geology academics from the University of British Columbia have long compared the Terrace mineral district to the richest gold camp in British Columbia, the Bridge River Gold Camp to the South where the Bralorne and Pioneer Mines produced four million ounces of gold. It is Argonaut's intention to prove them correct."

Argonaut also acknowledged that once the acquisition has been completed Argonaut will begin planning the exploration of the Columario Gold Property.

Please click here to view the full release.