A local mining project is moving closure to fruition. Argonaut Gold's reporting the conclusion of Schedule 2 amendment by the Canadian government, a key authorization and permitting milestone for the Magino Gold project.
President and CEO Pete Dougherty notes this makes the project "much more attractive to joint-venture partners and project financing lenders", while the Toronto-based company expects project approvals and development financing options in line to make a decision on advancing the project during the second half of the year.
Dougherty adds ongoing deep drilling exploration has consistently hit high-grade intercepts which are not included in Magino's current mineral reserve or resource estimates.
This comes as an exploration company's expanding its holdings in the region, as Manitou Gold says it's entered into a purchase agreement to buy the Shihan property in Rennie Township, which is continuguous with its Goudreau Project.
The purchase makes the consolidated land package about 340 square kilometres.