A local mine's marking a major milestone.
Argonaut Gold says its Magino Mine achieved its first gold pour yesterday, adding that "process plant ramp-up remains on schedule with commercial production expected in the third quarter" of the year.
Located near Dubreuilville, Magino is Argonaut's first Canadian operation, intended to lead the company into being a "low-cost, mid-tier North America gold producer", as it's expected to produce 72,000 to 81,000 ounces of gold this year before reaching 148,000 ounces in 2024, its first full year of production.
Argonaut is also "pursuing growth opportunities", with a twelve to fifteen month exploration and reserve development program set to begin at Magino in the third quarter, to convert open pit resources to reserves within the current resource pit cone, as well as test deep underground high-grade targets and open pit targets along strike west of the current deposit, while it reviews "mill optimization and expansion opportunities" to potentially raise throughput rates and increase annual production.