Latest news with #ArgoGold
Yahoo
13 hours ago
- Business
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Argo's April 2025 Oil Production
Toronto, Ontario--(Newsfile Corp. - June 11, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") April 2025 oil production was a total of 2,805 barrels for the month, averaging 93.5 barrels per day. Oil prices averaged CDN$60 per barrel and Argo's March oil revenue was $167,959 and net operating cash flow was $95,374. April 2025 Oil Production Argo's interest Argo's Oil Revenue Argo's net operating cash flow Lindbergh 1(37.5% interest) 98 bbl/day 37 bbl/day $66,173 $39,084 Lloyd 1(18.75% interest) 131 bbl/day 25 bbl/day $44,057 $26,331 Lindbergh 2(37.5% interest) 47 bbl/day 18 bbl/day $31,833 $17,968 Lloyd 2(23.077% interest) 5 bbl/day 1 bbl/day $1,628 -$546 Lindbergh 3(18.75% interest) 72 bbl/day 13.5 bbl/day $24,268 $12,537 April 2025 Total 93.5 bbl/day $167,959 $95,374 Argo recently increased its operating interest at Lloyd 2 to 23.077% from 18.75% whereby Argo's 23.077% interest now encompasses the entire General Petroleum oil formation at Lloyd. The partnership has paid the seller $75,000 for its 18.75% interest in the General Petroleum oil formation at Lloyd, of which Argo has participated in the purchase for its pro-rata share. After cumulative production of 45,000 barrels of oil, the partnership would pay the seller a one-time bonus of $25,000 where Argo would pay its pro-rata share. About Argo Gold Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR at and on Argo Gold's website at Argo Gold is listed on the Canadian Securities Exchange ( (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS). Judy Baker, CEO (416) 786-7860 jbaker@ NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Argo's March 2025 Oil Production
Toronto, Ontario--(Newsfile Corp. - May 12, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") March 2025 oil production was a total of 3,249 barrels for the month, averaging 105 barrels per day. Oil prices averaged CDN$65 per barrel and Argo's March oil revenue was $211,595 and net operating cash flow was $112,770. March 2025 Oil Production Argo's interest Argo's Oil Revenue Argo's net operating cash flow Lindbergh 1(37.5% interest) 103 bbl/day 39 bbl/day $78,114 $43,967 Lloyd 1(18.75% interest) 142 bbl/day 27 bbl/day $53,608 $28,131 Lindbergh 2(37.5% interest) 64.5 bbl/day 24 bbl/day $48,860 $24,407 Lloyd 2(18.75% interest) 5 bbl/day 1 bbl/day $1,915 ($1,440) Lindbergh 3(18.75% interest) 77 bbl/day 14 bbl/day $29,097 $17,704 March 2025 Total 105 bbl/day $211,595 $112,770 In April 2025, Argo paid an annual Alberta tax on its 2024 oil production on freehold lands of $130,619. About Argo Gold Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR at and on Argo Gold's website at Argo Gold is listed on the Canadian Securities Exchange ( CSE: ARQ as well as OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS. Judy Baker, CEO(416) 786-7860jbaker@ NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visit
Yahoo
08-05-2025
- Business
- Yahoo
Argo's Year-End 2024 Oil Reserves Report
Toronto, Ontario--(Newsfile Corp. - May 8, 2025) - Argo Gold Inc's. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") Year-End 2024 Reserves Report ("Reserves Report"), with an effective date of December 31, 2024, is summarized below. The Reserves Report was completed by Petrotech and Associates, an independent qualified reserves evaluator based in Calgary, Alberta, and was prepared in accordance with the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). The evaluation was conducted using the Sproule December 31, 2024, Price Forecast for Heavy Crude Oil (12°API) at adjusted for each property. The Reserves Report includes Argo's interest in the five current producing oil wells in the Lloydminster and Lindbergh areas in Alberta; and five undeveloped development well locations at current sites. The following table summarizes the information contained in the Reserves Report, with an effective date of December 31, 2024: Year-End 2024 Heavy Crude Oil Reserves 100% Heavy Crude OilMbbl Company Gross(1) Heavy Crude Oil Mbbl Company Net(2) Heavy Crude Oil Mbbl 0% NPVMM$ 10% NPVMM$ 15% NPVMM$ Proved Developed Producing 827.4 200.3 173.4 10.6 7.9 7.0 Proved Undeveloped 907.2 170.1 148.0 8.0 5.4 4.6 Total Proved 1,734.5 370.3 321.4 18.6 13.3 11.6 Probable 435.8 96.0 79.4 5.4 2.8 2.2 Total Proved plus Probable 2,170.3 466.3 400.8 24.0 16.2 13.8 Table Notes: (1) "Gross Reserves" are the Company's working interest reserves before the deduction of royalties.(2) "Net Reserves" are the Company's working interest reserves after deductions of royalty obligations, plus the Company's royalty interests.(3) Mbbl are thousand barrels(4) MM$ are millions of dollars(5) The numbers in the table may not add due to rounding. The disclosures contained in this report represent information related to the Company's reserves, future net revenue, and discounted value of future net cash flows as of December 31, 2024. The Company has filed its Form 51-101 F1 Statement of Reserves Data and Other Oil and Gas Information ("Form F1"), Form 51-101 F2 Report on Reserves Data by Independent Qualified Reserves Evaluator ("Form F2"), and Form 51-101 F3 Report of Management and Directors on Oil and Gas Disclosure ("Form F3") for the year ending December 31, 2024. These documents are also posted on the Company's website at and SEDAR+ at About Argo Gold Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Argo Gold is listed on the Canadian Securities Exchange ( CSE: ARQ as well as OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS. Judy Baker, CEO (416) 786-7860 jbaker@ NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-looking Information Cautionary Statement Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to the financing not being completed in its entirety, or at all, delays or uncertainties with drilling and surface preparation work, and not achieving hoped for exploration success. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
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Argo's February 2025 Oil Production
Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Argo Gold Inc.'s (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") February 2025 oil production was a total of 2,975 barrels for the month, averaging 106 barrels per day. Oil prices averaged CDN$73 per barrel and Argo's February oil revenue was $218,586 and net operating cash flow was $131,564. February 2025 Oil Production Argo's interest Argo's Oil Revenue Argo's net operating cash flow Lindbergh 1 (37.5% interest) 105 bbl/day 39.5 bbl/day $81,344 $55,953 Lloyd 1 (18.75% interest) 128 bbl/day 24 bbl/day $49,408 $31,224 Lindbergh 2 (37.5% interest) 56 bbl/day 21 bbl/day $43,261 $18,772 Lloyd 2 (18.75% interest) 6 bbl/day 1 bbl/day $2,359 ($690) Lindbergh 3 (18.75% interest) 109 bbl/day 20.5 bbl/day $42,213 $26,306 February 2025 Total 106 bbl/day $218,586 $131,564 About Argo Gold Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR+ at and on Argo Gold's website at Argo Gold is listed on the Canadian Securities Exchange ( CSE: ARQ as well as OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS. Judy Baker, CEO (416) 786-7860 jbaker@ NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To view the source version of this press release, please visit
Yahoo
11-04-2025
- Business
- Yahoo
Argo Acquires Gold and Silver Mineral Claims in Saskatchewan
Toronto, Ontario--(Newsfile Corp. - April 11, 2025) - Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) ("Argo" or the "Company") is entering into a mineral claim option agreement (the "Option") to acquire a 100% interest in the 1155-hectare Dreaver Lake property (the "Claim") located in the Rottenstone Belt in Saskatchewan. To exercise the Option and acquire the Claim, Argo must: (i) make a cash payment of C$1,000 (which has been made), (ii) incur or expend at least C$40,000 in exploration work by September 3, 2026 and (iii) grant to the vendor of the Claim a 2% net smelter returns royalty on any minerals produced from the Claim. Dreaver Lake has weakly anomalous gold and silver in lake sediments as well as a highly anomalous halo of coincident gold and silver in lake sediments for 10 kilometres in the down-ice direction. (GSC). In 1968, prospecting at Dreaver Lake identified outcrops of quartz diorite rock consistent with rock hosting the gold mineralization in the Ramp Metals discovery hole Ranger 1 which intersected 73.55 grams/tonne Au over 7.5 metres from 227 to 234.5 metres. (Ramp Metals, June 17, 2024). Exploration work in the 1960's was focused on nickel and copper, not gold. An airborne survey conducted for Noranda Exploration in 1966 at Dreaver Lake delineated 3 conductors, all with associated magnetic highs, in the metasediments flanking the intrusive granites. The highest priority target is a strong, wide EM conductor that is approximately 1.5 km in length with associated magnetic highs on both sides. All 3 conductors remain undrilled. The Dreaver Lake mineral claims are located approximately 12 km southeast of the Ramp Metals Property. The Dreaver Lake property is contiguous to that of Eagle Plains Resources where trench sampling on the Cook Showing returned 79.96 g/t Au over 1.0 metre, and a grab sample returned up to 78.84 g/t Au, 2.7 g/t Ag, 0.146% Pb and 0.019% Cu (Eagle Plains website, 2025). Approximately 5 kilometres southwest of the Dreaver Lake Property, Fathom Nickel is currently exploring at Gochager Lake where recent drilling intersected 18.1 metres @ 2.43% Ni, 0.51% Cu and 0.18% Co. (Fathom Nickel, April 12, 2023). Rock chip and soil geochemical sampling has extended the Gochager footprint by 2 kilometres to the southwest and 2 kilometres to the Northeast. (Fathom Nickel, August 26, 2024). Underground exploration drilling at the past-producing Roy Lloyd mine located 20 kilometres south of Dreaver Lake intersected 8.17 metres (5.32 metres true width) of 66.85 g/t Au, 6.79 metres (4.42 metres true width) of 80.12 g/t Au and 2.23 metres (1.73 metres true width) of 128.37 g/t Au at a depth of approximately 240 metres. (Matrixset Investment Corp. website). Argo recently completed a compilation of all historic data on its mineral claims acquired this past year (Argo Gold, August 7, 2024 and Argo Gold, January 20, 2025); and identified additional prospective mineral exploration ground where anomalous gold, silver and copper in lake sediments (GSC) coincide with an interpreted fold axis from historic geophysical data. Argo's mineral claim position in the Rottenstone Belt covers areas of interest including: anomalous copper in soils, electromagnetic conductors identified by historic geophysical surveys, ultramafic rocks, the Gow Lake meteor crater area, and the geological strike extension of the Rottenstone Mine. Argo Gold has initiated the permitting process for the company's mineral claims in the Rottenstone Belt, Saskatchewan. The Fraser Institutes Annual Survey of Mining Companies ranked Saskatchewan as third in the world for mineral exploration and mining investment attractiveness Argo is well positioned to advance mineral exploration with high-quality assets in a mining friendly jurisdiction. National Instrument 43-101 Disclosure The technical information in this news release has been reviewed and approved by Michael Guo PhD, PGeo, MG Geological Consulting Ltd, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Historical geochemical, drilling results and geological descriptions quoted in this news release were taken directly from news releases by other mineral explorers and from information provided by the Government of Saskatchewan. Management cautions that results reported by other parties on adjacent properties have not been verified nor confirmed by its Qualified Person, but Argo believes they create a scientific foundation for the exploration in the district. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on Argo's mineral properties. About Argo Gold Argo Gold is a Canadian mineral exploration and development company, and an oil producer. Information on Argo Gold can be obtained from SEDAR at and on Argo Gold's website at Argo Gold is listed on the Canadian Securities Exchange ( CSE: ARQ as well as OTC: ARBTF and XFRA, XSTU, XBER: A2ASDS. Judy Baker, CEO(416) 786-7860jbaker@ NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-looking Information Cautionary Statement Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to the financing not being completed in its entirety, or at all, delays or uncertainties with drilling and surface preparation work, and not achieving hoped for exploration success. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available. Map 1: Location of Argo Gold Rottenstone Belt Mineral Claims To view an enhanced version of this graphic, please visit: To view the source version of this press release, please visit Sign in to access your portfolio
