The Magino Gold Mine was discovered by the Algoma Summit Gold Mines, Limited in 1934. It wasn’t till 1936, when the company had commenced development on the property. A 035-degree, shaft was first place under development in March, 1936, which was eventually sunk to a depth of 298 feet on the incline. Further openings were then made when a level became establish on the mines 172-foot horizon, and lateral development had extended the workings by 171 feet of drifting, and 180 feet of crosscutting. This was also followed by driving an ore-pass raise from an inclined depth of 260 feet in the shaft to this level.
A new milling facility was also place under construction, and a surface plant had then followed suit. Installations at the time had included a new compressor, and hoist house, and a 300-cubic foo Sullivan Electric Compressor, a 700-cubic foot Ingersoll Rand Electric Compressor, and a single drum Ingersoll Rand electric hoist. Much of the mill building at the time was also designed to house a 1000 tonne per day mill, and a crusher building. Processing was rather being done by 500 tonne amalgamation flotation unit that was yet to be installed in 1936. Processing at the time had resulted in 2,711 tonnes that gave a gold recovery value of $8,516
Shaft sinking at the Magino Gold Property had continued onward when it was now reaching a depth of 417 feet below the surface in 1937. Lateral development on the 172-foot level was also being extended when 630 feet of drifting, 653 feet of crosscutting, and 109 feet of raising was done. Diamond drilling at the time was also commenced when the company completed 4,845 feet of drilling in length. A small 50-tonne amalgamation mill was in used at the time till the new 500-ton amalgamation flotation mill was in operation by April, 1937. The newly designed mill building had included a 15 by 30-inch Jaw Crusher, a 4-foot Symons Cone Crusher, Vibrating Screen, a 6 by 10-foot Marcy Ball Mill, an Atkins Classifier, a Denver 2-compartment Jig, an 8 by 8-foot Denver Conditioner, a 10-cell Denver Sub-A Flotation Unit, a 14 by 10-foot Denver Thickener, a 4 by 3 foot Feinc Filter, a 3 ½ by 5 foot Marcy Regrind Mill, a Wilfley table, and two 3 by 4-foot Denver Amalgam Barrels. Production from the newly formed mine had amounted to 62,813 tonnes of ore hoisted, and 44,869 tonnes was sorted and milled. This had given the company a gold recovery value of $68,130
Mining operations at the time had continued as a new level was being opened up on the 354-foot horizon in 1938. Development at the time had been focus on extending the 172-foot level by 3,010 feet of drifting, and 329 feet of box holes. In total development the 172-foot level was now achieving 3,811 feet of drifting, 833 feet of crosscutting, 109 feet of raising, and 329 feet of box holes. Lateral development at the time was also focus on the 354-foot level when 1,860 feet of drifting, 202 feet of crosscutting, 69 feet of raising, and 330 feet of box holes were completed. Diamond drilling on the Magino Gold Mine had amounted to eight underground holes, totalling 759 feet in length. Production from the mine had ended up totalling 66,670 tonnes of ore that was hoisted from the shaft, and milled. Milling at the newly designed milling facility was also handling 182.65 tonnes of ore from the previous capacity of 500-tonnes per day. This had gave the company a total gold recovery of $204,875. Even more construction would also follow suit when the company had altered the Assay office, and enlarge it, and a new framed cabin and building for the storage of oil and gasoline was erected. Employment at the time was also done by 104 men who became employed under the direction of R. F. Mitchell before being succeeded by F. A Brandt.
The Magino Property was later taken over by the Magino Gold Mines, Limited, in which the company was incorporated on September, 1939, with a capitalization of 3,000,000 shares of $1 par value. Mining by the Algoma Summit Gold Mines, Limited was operated only in January, but no development was done. During this time period it was reported that a total of 1,768 tonnes of ore was hoisted, and 1,751 tonnes was milled. Operations at the Magino Gold Mine became idle at the beginning of February, and wouldn’t commence operation till November, 22, 1939, by the new operators. Most of the lateral development was focus on the second level when 12 feet of drifting, and 12 feet of crosscutting was done. Further prospecting would also take place when 237 feet of trenching was done to a depth of 2 ½ feet by the end of 1939. Production at the time had amounted to 1,751 tonnes which produce a gold recovery value of $8,009.
No changes were made to the 3-compartment No. 1 Shaft, that inclined at an angle of 033 degrees, and was 413 feet in depth. The total development that was made by the previous owners had amounted to 3,613 feet of drifting, and 945 feet of crosscutting on the 172-foot level. This was also followed by 1,339 feet of drifting, and 262 feet of crosscutting on the 374-foot level.
No changes to the Shaft were made in 1940, when the Magino Gold Mines, Limited had taken over operations. Most of the development was confined to the second level at a depth of 374 feet below the surface. A total of 909 feet of drifting, 495 feet of crosscutting, and 16 feet of raising was done on this level. Total development footage was unchanged on the first level at 172 feet as mining was confined to the second level. The second level at this time was now totalling 2,246 feet of drifting, 757 feet of crosscutting, and 220 feet of raising. Total diamond drilling at the time had amounted to 2,316 feet that was done from underground in 1940. Mining on the property was only continued from January to June 1940, before mining operations became suspended. Most of the suspension was caused due to the lower gold markets prior to the outbreak of World War 2. No production at the time was achieved prior to closing down the Magino Gold Mine Project.
It wasn’t till 1986, when Muscocho Exploration, Limited, had acquired the Magino (Algoma-Summit) Gold Mine Site. Development at the time was followed by opening up a decline that was driven for a distance of 400 m. Most of this was also followed by extensive surface diamond drilling program that would cost $2.5 million to complete. Drilling at the time had also indicated reserves of 1,066,836 tonnes grading 0.25 ounces of Au per tonne. As explorations continued it was also proposed that production decision would be made on the property by 1987.
Extensive lateral development was shortly after commenced on the Magino Gold Property by Muscocho Exploration in 1987. This whole entire development plan resulted in drifting on the mines 100, and 200-foot levels at the time. Prior to development, the ramp was also extended in order to access the old workings at the 250-foot level. A number of old raises at the time were driven from the 200- to the 100-foot level in order to test the continuity of structures and ore grades. Ore Reserves at the Magino Property were now marketed as 1.96 million tonnes at 0.25 ounces of Au per tonne.
A surface drill program was also completed within the mine area in order to better delineate the ore zone and its depth extension. Within the summer, detailed underground mapping if the ore-zone was completed by S. Markel, the Mine Geologist. A chief geologist by the name of A. J. Deevey was also hired on by the company, and had first started work on this property in July. Gold mineralization within the Magino Gold Property is known to occur in siliceous zones and quartz veins within sheared portions of the Webb Lake Granodiorite-trondhjemite stock. Much of the locations of the ore-zones and shear zones orientations line up with the Goudreau Lake Lineament, on which Canamax Resources had made a significant discovery. A joint venture was shortly made between Muscocho Explorations, Limited, and McNelle Resources, Incorporated. Most of the agreement was made in proposal towards developing 400 tonnes per day gold test mill at the Magino Gold Mine, In which would cost $5 million to complete. It was during that time period when the erection of the test mill was completed on December, and would be able to bulk sample the ore from this mine site.
A historical moment was upon the company when Muscocho Explorations had opened the Magino Mine on October, 14, 1988. Most of this project was owned by Muscocho Exploration, and McNellen Resources under joint venture agreement. It was during that time period when a new mine was built adjacent to the old Magino Mine Site that operated from 1936, to 1941. Exploration on this property by the two companies began in 1985, on the west-southwest on-strike extension of the gold bearing structure of the former producer. An estimation on reserves within 1988, had resulted in increasing reserves to 1.9 million tonnes with an average head-grade of 0.25 ounces of Au per tonne. Most of this estimation at the time was calculated by diamond drilling above the 500-foot horizon of the Magino Gold Project.
In order to reach the ore-body, it was first access by a spiral decline ramp with levels establish at 200, 250, 350, and 400 feet below the surface. A total of eleven underground drill holes had also indicated the continuation of significant ore-grades at widths from 3 to 6 feet up to a depth of 2,000 feet, over a strike length of 2,800 feet. In total underground drilling it was determined that the company completed 50,000 feet at 50-foot centers, and was aimed at testing stopes on two level. Gold production from the Magino Mine had amounted to 6,500 ounces for the production year of 1988. Other forecasts were also made in increasing production by recovering 32,000 ounces of gold (Au) annually. Mill during the year was also operated at a capacity of 400 tonnes of ore on a daily basis, and 100 men at the time were employed.
Mining of the ore-body at the Magino Gold Mine was continued on levels that were station cut on the 100, 200, 250, 350, 400, and 500 feet below the surface. A deep drilling program was also followed that indicated the continuation of significant ore grades from 3 to 30 fet wide at a depth of 2,000 feet, over a strike length of 2,800 feet. Underground drilling for 1989, had amounted to 47,668 feet at 50-foot centers. All mining operation were also being confined to development of shrinkage stopes on four producing levels, and long-hole mining. Gold production up to November, 1989, was 19,707 ounces of gold (Au) from 115,242 tonnes of ore grading 0.178 ounces of gold (Au) per tonne, at 500 tonnes per day.
Mining operation that were owned by Muscocjo Explorations at 50% interest, and McNellen Resources at 50% Interest were continued onward in 1990. Production at the time was widely increased in handling 145,480 tonnes of mined and milled ore that year. Milling recoveries at the time had also amounted to 23,317 ounces of gold (Au) per tonnes, at an average grade of 0.169 ounces of Au. Mining along with production was mainly confined to the 200, 350, and 400-foot levels. A new re-estimation was also done on average production that would make the mine produce 28,000 ounces annually. Milling during the operating year of 1990, was mainly achieved by 500-tonnes of ore per day, and was expected to increase output to 600 tonnes per day in 1991.
Further extending was also done when the spiral decline ramp was extending to 500 feet, with levels at 100, 150, 200, 250, 300, 350, 400, and 500 feet below the surface. Lateral development during the operating year of 1990, had amounted to 7,931 feet that included ramping, level drifting, and raising. Delineation and Underground Exploration drilling had totalled 13,941 feet for the year. Long hole stopes accounted for 80% of stope much with the remainder of production coming from shrinkage stopes.
Ore reserves at the Magino Mine were rather decreased to 1.2 million tonnes with an average grade of 0.156 ounces Gold (Au) per tonne. It was in 1991, when mining and milling operations were continued throughout the operating year at a daily mill rate of 646 tonnes of ore per day. Production that was taken up was mainly confined to shrinkage stopes, and long-hole mining operations on the 150, 250, 300, 350, 400, and 500-foot levels. Gold production that came from these levels had been recovered at 22,559 ounces of gold (Au) by September. Milling was rather being achieved at a capacity of 700 tonnes per day, which was a 200 ton per day increase. The whole entire ore-body at the time was still being accessed by a spiral decline ramp to depth of 100, 150, 200, 250, 300, 350, 400, and 500-foot horizons. Lateral development completed on these levels had amounted to 9,654.1 feet of ramping, level drifting, raising, and stope preparations. Drilling was also aimed at further defining ore-bodies, and underground exploration, that totalled 1,081 feet in 1991. Almost all mining was confined to long-hole stope sections at 80% with the remainder of the production coming from shrinkage stopes. The Magino Ore-body is rather one of the three ore-bodies that lies within the Goudreau Lake Deformation Zone. No other work at the time was done on the Magino Mine as it had come to a closure by the operating year of 1992.
Prodigy Gold Incorporated had acquired the Magino Mine in December, 2010, and between January and September, had completed an extensive infill. Most of this was aimed at expanding resources, and geotechnical drilling program comprising of 131 drill holes for a total of 45,000 m of drilling. The Resource expansion drilling was successful in intercepting previously undiscovered gold mineralization along the southwestern and northeastern margins of the deposit. It was drill hole MA11-007, -008, -009, and -012, that had cut very thick intervals of gold mineralization, up to 417 m grading 0.71 g/t gold in MA11-008. Other tests were also completed on the southwest extension of the Magino Deposit at the time. Drilling during 2011 had amounted to 7 drill holes, totalling 2,054 m over a 300-m strike extent. Much of the preliminary results had also confirmed a widespread gold mineralization southwest of the main gold deposit. Drill hole MA11-160 had intersected 127 m grading 0.84 g/t gold. By 2010, Prodigy Gold would also conduct Preliminary Economic Assessment for the Magino Gold Mine. Results from this PEA had projected the life of the mine to more than 2,614,000 ounces of gold, averaging 249,300 ounces per year over an 11-year mine life. Total mineable resources were estimated at 74,234,000 tonnes grading 1.5 grams per tonne in gold. Indicated resources at the Magino Property were at 67,555,000 tonnes grading 1.00 grams per tonne in gold, which was a recovery of 2,176,300 ounces of Au. An inferred resource estimation of 54,242,000 tonnes grading 0.99 grams per tonne in gold would recovery 1,721,200 ounces, at a cut of grade of 3.0 grams per tonne in gold.
In 2013, Argonaut Gold Inc. had announced that it would complete a total of 89,000 m of diamond drilling in 340 holes to advance the Magino Gold Project. It was during the winter season of 2013, when the company had released the results of the prefeasibility study which includes a new resource estimate, and summarization. Planning at the time was mainly projecting to have the Magino Mine under development as a conventional open pit mine, and gold leaching processing circuit. The company at the time had entered into a surface, and mining right exchange agreement with Richmont Gold Mines, Inc. This newly designed exchange will allow the company to expand its land access associated with the Magino Gold Project. The newly recalculated reserve had not included any resources within the adjacent Richmont land along with any resources below Webb Lake, which lies along strike on the southern side of the prefeasibility study pit. Indicated reserves were at 127.7 million tonnes with a cut off grade of 0.35 gram per tonne gold and a grade of 1.01 grams per tonne in gold with a recovery of 4,161,000 ounces of gold (Au). Inferred resources at the time had resulted in 30.1 million tonnes with a cut-off grade of 0.35 grams per tonne gold, and a grade of 1.08 grams per tonne gold, which would contain 1,044,000 tonnes. Probable Reserves at the Magino Mine were at 60.2 million tonnes with a cut-off grade of 0.31 grams per tonne gold, and a grade of 0.90 grams per tonne gold, which would contain 1,746,000 ounces.
A new milling facility was also place under construction, and a surface plant had then followed suit. Installations at the time had included a new compressor, and hoist house, and a 300-cubic foo Sullivan Electric Compressor, a 700-cubic foot Ingersoll Rand Electric Compressor, and a single drum Ingersoll Rand electric hoist. Much of the mill building at the time was also designed to house a 1000 tonne per day mill, and a crusher building. Processing was rather being done by 500 tonne amalgamation flotation unit that was yet to be installed in 1936. Processing at the time had resulted in 2,711 tonnes that gave a gold recovery value of $8,516
Shaft sinking at the Magino Gold Property had continued onward when it was now reaching a depth of 417 feet below the surface in 1937. Lateral development on the 172-foot level was also being extended when 630 feet of drifting, 653 feet of crosscutting, and 109 feet of raising was done. Diamond drilling at the time was also commenced when the company completed 4,845 feet of drilling in length. A small 50-tonne amalgamation mill was in used at the time till the new 500-ton amalgamation flotation mill was in operation by April, 1937. The newly designed mill building had included a 15 by 30-inch Jaw Crusher, a 4-foot Symons Cone Crusher, Vibrating Screen, a 6 by 10-foot Marcy Ball Mill, an Atkins Classifier, a Denver 2-compartment Jig, an 8 by 8-foot Denver Conditioner, a 10-cell Denver Sub-A Flotation Unit, a 14 by 10-foot Denver Thickener, a 4 by 3 foot Feinc Filter, a 3 ½ by 5 foot Marcy Regrind Mill, a Wilfley table, and two 3 by 4-foot Denver Amalgam Barrels. Production from the newly formed mine had amounted to 62,813 tonnes of ore hoisted, and 44,869 tonnes was sorted and milled. This had given the company a gold recovery value of $68,130
Mining operations at the time had continued as a new level was being opened up on the 354-foot horizon in 1938. Development at the time had been focus on extending the 172-foot level by 3,010 feet of drifting, and 329 feet of box holes. In total development the 172-foot level was now achieving 3,811 feet of drifting, 833 feet of crosscutting, 109 feet of raising, and 329 feet of box holes. Lateral development at the time was also focus on the 354-foot level when 1,860 feet of drifting, 202 feet of crosscutting, 69 feet of raising, and 330 feet of box holes were completed. Diamond drilling on the Magino Gold Mine had amounted to eight underground holes, totalling 759 feet in length. Production from the mine had ended up totalling 66,670 tonnes of ore that was hoisted from the shaft, and milled. Milling at the newly designed milling facility was also handling 182.65 tonnes of ore from the previous capacity of 500-tonnes per day. This had gave the company a total gold recovery of $204,875. Even more construction would also follow suit when the company had altered the Assay office, and enlarge it, and a new framed cabin and building for the storage of oil and gasoline was erected. Employment at the time was also done by 104 men who became employed under the direction of R. F. Mitchell before being succeeded by F. A Brandt.
The Magino Property was later taken over by the Magino Gold Mines, Limited, in which the company was incorporated on September, 1939, with a capitalization of 3,000,000 shares of $1 par value. Mining by the Algoma Summit Gold Mines, Limited was operated only in January, but no development was done. During this time period it was reported that a total of 1,768 tonnes of ore was hoisted, and 1,751 tonnes was milled. Operations at the Magino Gold Mine became idle at the beginning of February, and wouldn’t commence operation till November, 22, 1939, by the new operators. Most of the lateral development was focus on the second level when 12 feet of drifting, and 12 feet of crosscutting was done. Further prospecting would also take place when 237 feet of trenching was done to a depth of 2 ½ feet by the end of 1939. Production at the time had amounted to 1,751 tonnes which produce a gold recovery value of $8,009.
No changes were made to the 3-compartment No. 1 Shaft, that inclined at an angle of 033 degrees, and was 413 feet in depth. The total development that was made by the previous owners had amounted to 3,613 feet of drifting, and 945 feet of crosscutting on the 172-foot level. This was also followed by 1,339 feet of drifting, and 262 feet of crosscutting on the 374-foot level.
No changes to the Shaft were made in 1940, when the Magino Gold Mines, Limited had taken over operations. Most of the development was confined to the second level at a depth of 374 feet below the surface. A total of 909 feet of drifting, 495 feet of crosscutting, and 16 feet of raising was done on this level. Total development footage was unchanged on the first level at 172 feet as mining was confined to the second level. The second level at this time was now totalling 2,246 feet of drifting, 757 feet of crosscutting, and 220 feet of raising. Total diamond drilling at the time had amounted to 2,316 feet that was done from underground in 1940. Mining on the property was only continued from January to June 1940, before mining operations became suspended. Most of the suspension was caused due to the lower gold markets prior to the outbreak of World War 2. No production at the time was achieved prior to closing down the Magino Gold Mine Project.
It wasn’t till 1986, when Muscocho Exploration, Limited, had acquired the Magino (Algoma-Summit) Gold Mine Site. Development at the time was followed by opening up a decline that was driven for a distance of 400 m. Most of this was also followed by extensive surface diamond drilling program that would cost $2.5 million to complete. Drilling at the time had also indicated reserves of 1,066,836 tonnes grading 0.25 ounces of Au per tonne. As explorations continued it was also proposed that production decision would be made on the property by 1987.
Extensive lateral development was shortly after commenced on the Magino Gold Property by Muscocho Exploration in 1987. This whole entire development plan resulted in drifting on the mines 100, and 200-foot levels at the time. Prior to development, the ramp was also extended in order to access the old workings at the 250-foot level. A number of old raises at the time were driven from the 200- to the 100-foot level in order to test the continuity of structures and ore grades. Ore Reserves at the Magino Property were now marketed as 1.96 million tonnes at 0.25 ounces of Au per tonne.
A surface drill program was also completed within the mine area in order to better delineate the ore zone and its depth extension. Within the summer, detailed underground mapping if the ore-zone was completed by S. Markel, the Mine Geologist. A chief geologist by the name of A. J. Deevey was also hired on by the company, and had first started work on this property in July. Gold mineralization within the Magino Gold Property is known to occur in siliceous zones and quartz veins within sheared portions of the Webb Lake Granodiorite-trondhjemite stock. Much of the locations of the ore-zones and shear zones orientations line up with the Goudreau Lake Lineament, on which Canamax Resources had made a significant discovery. A joint venture was shortly made between Muscocho Explorations, Limited, and McNelle Resources, Incorporated. Most of the agreement was made in proposal towards developing 400 tonnes per day gold test mill at the Magino Gold Mine, In which would cost $5 million to complete. It was during that time period when the erection of the test mill was completed on December, and would be able to bulk sample the ore from this mine site.
A historical moment was upon the company when Muscocho Explorations had opened the Magino Mine on October, 14, 1988. Most of this project was owned by Muscocho Exploration, and McNellen Resources under joint venture agreement. It was during that time period when a new mine was built adjacent to the old Magino Mine Site that operated from 1936, to 1941. Exploration on this property by the two companies began in 1985, on the west-southwest on-strike extension of the gold bearing structure of the former producer. An estimation on reserves within 1988, had resulted in increasing reserves to 1.9 million tonnes with an average head-grade of 0.25 ounces of Au per tonne. Most of this estimation at the time was calculated by diamond drilling above the 500-foot horizon of the Magino Gold Project.
In order to reach the ore-body, it was first access by a spiral decline ramp with levels establish at 200, 250, 350, and 400 feet below the surface. A total of eleven underground drill holes had also indicated the continuation of significant ore-grades at widths from 3 to 6 feet up to a depth of 2,000 feet, over a strike length of 2,800 feet. In total underground drilling it was determined that the company completed 50,000 feet at 50-foot centers, and was aimed at testing stopes on two level. Gold production from the Magino Mine had amounted to 6,500 ounces for the production year of 1988. Other forecasts were also made in increasing production by recovering 32,000 ounces of gold (Au) annually. Mill during the year was also operated at a capacity of 400 tonnes of ore on a daily basis, and 100 men at the time were employed.
Mining of the ore-body at the Magino Gold Mine was continued on levels that were station cut on the 100, 200, 250, 350, 400, and 500 feet below the surface. A deep drilling program was also followed that indicated the continuation of significant ore grades from 3 to 30 fet wide at a depth of 2,000 feet, over a strike length of 2,800 feet. Underground drilling for 1989, had amounted to 47,668 feet at 50-foot centers. All mining operation were also being confined to development of shrinkage stopes on four producing levels, and long-hole mining. Gold production up to November, 1989, was 19,707 ounces of gold (Au) from 115,242 tonnes of ore grading 0.178 ounces of gold (Au) per tonne, at 500 tonnes per day.
Mining operation that were owned by Muscocjo Explorations at 50% interest, and McNellen Resources at 50% Interest were continued onward in 1990. Production at the time was widely increased in handling 145,480 tonnes of mined and milled ore that year. Milling recoveries at the time had also amounted to 23,317 ounces of gold (Au) per tonnes, at an average grade of 0.169 ounces of Au. Mining along with production was mainly confined to the 200, 350, and 400-foot levels. A new re-estimation was also done on average production that would make the mine produce 28,000 ounces annually. Milling during the operating year of 1990, was mainly achieved by 500-tonnes of ore per day, and was expected to increase output to 600 tonnes per day in 1991.
Further extending was also done when the spiral decline ramp was extending to 500 feet, with levels at 100, 150, 200, 250, 300, 350, 400, and 500 feet below the surface. Lateral development during the operating year of 1990, had amounted to 7,931 feet that included ramping, level drifting, and raising. Delineation and Underground Exploration drilling had totalled 13,941 feet for the year. Long hole stopes accounted for 80% of stope much with the remainder of production coming from shrinkage stopes.
Ore reserves at the Magino Mine were rather decreased to 1.2 million tonnes with an average grade of 0.156 ounces Gold (Au) per tonne. It was in 1991, when mining and milling operations were continued throughout the operating year at a daily mill rate of 646 tonnes of ore per day. Production that was taken up was mainly confined to shrinkage stopes, and long-hole mining operations on the 150, 250, 300, 350, 400, and 500-foot levels. Gold production that came from these levels had been recovered at 22,559 ounces of gold (Au) by September. Milling was rather being achieved at a capacity of 700 tonnes per day, which was a 200 ton per day increase. The whole entire ore-body at the time was still being accessed by a spiral decline ramp to depth of 100, 150, 200, 250, 300, 350, 400, and 500-foot horizons. Lateral development completed on these levels had amounted to 9,654.1 feet of ramping, level drifting, raising, and stope preparations. Drilling was also aimed at further defining ore-bodies, and underground exploration, that totalled 1,081 feet in 1991. Almost all mining was confined to long-hole stope sections at 80% with the remainder of the production coming from shrinkage stopes. The Magino Ore-body is rather one of the three ore-bodies that lies within the Goudreau Lake Deformation Zone. No other work at the time was done on the Magino Mine as it had come to a closure by the operating year of 1992.
Prodigy Gold Incorporated had acquired the Magino Mine in December, 2010, and between January and September, had completed an extensive infill. Most of this was aimed at expanding resources, and geotechnical drilling program comprising of 131 drill holes for a total of 45,000 m of drilling. The Resource expansion drilling was successful in intercepting previously undiscovered gold mineralization along the southwestern and northeastern margins of the deposit. It was drill hole MA11-007, -008, -009, and -012, that had cut very thick intervals of gold mineralization, up to 417 m grading 0.71 g/t gold in MA11-008. Other tests were also completed on the southwest extension of the Magino Deposit at the time. Drilling during 2011 had amounted to 7 drill holes, totalling 2,054 m over a 300-m strike extent. Much of the preliminary results had also confirmed a widespread gold mineralization southwest of the main gold deposit. Drill hole MA11-160 had intersected 127 m grading 0.84 g/t gold. By 2010, Prodigy Gold would also conduct Preliminary Economic Assessment for the Magino Gold Mine. Results from this PEA had projected the life of the mine to more than 2,614,000 ounces of gold, averaging 249,300 ounces per year over an 11-year mine life. Total mineable resources were estimated at 74,234,000 tonnes grading 1.5 grams per tonne in gold. Indicated resources at the Magino Property were at 67,555,000 tonnes grading 1.00 grams per tonne in gold, which was a recovery of 2,176,300 ounces of Au. An inferred resource estimation of 54,242,000 tonnes grading 0.99 grams per tonne in gold would recovery 1,721,200 ounces, at a cut of grade of 3.0 grams per tonne in gold.
In 2013, Argonaut Gold Inc. had announced that it would complete a total of 89,000 m of diamond drilling in 340 holes to advance the Magino Gold Project. It was during the winter season of 2013, when the company had released the results of the prefeasibility study which includes a new resource estimate, and summarization. Planning at the time was mainly projecting to have the Magino Mine under development as a conventional open pit mine, and gold leaching processing circuit. The company at the time had entered into a surface, and mining right exchange agreement with Richmont Gold Mines, Inc. This newly designed exchange will allow the company to expand its land access associated with the Magino Gold Project. The newly recalculated reserve had not included any resources within the adjacent Richmont land along with any resources below Webb Lake, which lies along strike on the southern side of the prefeasibility study pit. Indicated reserves were at 127.7 million tonnes with a cut off grade of 0.35 gram per tonne gold and a grade of 1.01 grams per tonne in gold with a recovery of 4,161,000 ounces of gold (Au). Inferred resources at the time had resulted in 30.1 million tonnes with a cut-off grade of 0.35 grams per tonne gold, and a grade of 1.08 grams per tonne gold, which would contain 1,044,000 tonnes. Probable Reserves at the Magino Mine were at 60.2 million tonnes with a cut-off grade of 0.31 grams per tonne gold, and a grade of 0.90 grams per tonne gold, which would contain 1,746,000 ounces.
