Argonaut Gold’s Projects 89,000oz of Gold for San Agustin Mine

Canada-based precious metals producer Argonaut Gold announced the filing of updated technical reports for its Florida Canyon mine in the United States and the San Agustin mine in Mexico. The company highlighted the expected gold production at its Mexican operations, projecting over 89,000oz of gold within the next two years.

The report notes the San Agustin Mine in Durango, acquired in 2013, has seen significant progress since its inception in 2017. The updated technical report for San Agustin projects gold production of 89,000oz from April 2024 through 2026, with a total cash cost of US$1,701/oz. The pre-tax and after-tax net present values for San Agustin are estimated at US$30 million.

On the other hand, the Florida Canyon Mine, located in Nevada, has been in operation since 1986 and is known for its open-pit and heap leach gold recovery operation. The updated technical report for Florida Canyon highlights an average annual gold production of 70,000oz from 2024 through 2030, with a pre-tax net present value of US$153 million and an after-tax net present value of US$139 million.