By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
Interview with Judy Baker, President and CEO of Argo Gold: Acquiring Gold Exploration Projects in Ontario
Argo Gold Inc. (CSE: ARQ) is a Canadian based gold exploration company that acquired material gold projects in Ontario in 2016. We
learned from Judy Baker, President and CEO of Argo Gold, that in the last three months, Argo Gold has acquired several excellent gold
projects; the Woco Gold Project, located 85 kilometres NE of Ear Falls and three projects in the Wawa, ON area located near current
gold producers Wesdome Gold Mines and Richmont Mines. In May 2016, Argo Gold also staked the McVicar Lake Gold Project located 30
kilometres NW of the past producing Golden Patricia Mine. The original project in Argo Gold is the Hurdman Silver-Zinc project
located 120 kilometres north-northwest of the city of Timmins, Ontario in Hurdman Township.
Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-chief of Metals News, interviewing Judy Baker, President and CEO of Argo
Gold. Could you tell me a bit about your new company? About your plans and what you're doing?
Judy Baker: Argo Gold is listed on the Canadian Stock Exchange - the CSE - under the ticker ARQ. The company has 23
million shares outstanding and a market cap of Canadian $2.5 M. Argo Gold is focused on gold exploration projects in Ontario. All of
Argo Gold’s projects are 100% owned and have indications of economic viability.
Dr. Allen Alper: Could you tell me a bit about what makes these areas of interest and your exploration goals?
Judy Baker: Canada has become the fifth largest gold producer in the world up from number eight. Gold mining companies
want to be in Canada again. They want capital investment to go into a known jurisdiction. Canadian operations are able to attract
top talent and run efficiently; and the operations they have here have continued to produce for them.
Argo Gold has acquired gold projects that were discovered in the 1980’s and 1990’s but companies put them on the backburner or walked
away from them after the expropriation of Windy Craggy in British Columbia marked Canada as an unfavourable investment jurisdiction.
The Woco Gold Project – discovered in 1993 and drilled in 1993 and 1994 has drill intercepts of mineable gold grades over mineable
widths. The project is located in the Birch-Uchi Greenstone Belt which also hosts the multi-million ounce Springpole deposit.
Located 1.5 kilometres south of the past-producing Uchi Mine, 1993 drill intercept highlights include; 1.89 ounces per ton over 11.9
feet and 1.83 ounces per ton over 6 feet. Down-plunge and strike extension drilling highlights in 1994 include 4.08 ounces per ton
over 6.9 feet and 1.24 ounces per ton over 5.6 feet.
Argo Gold also recently acquired three Wawa, Ontario area projects located near two producing mining companies; Wesdome Gold’s Eagle
River Mine and Mishi Open Pit and Richmont’s Island Gold Mine. Argo Gold’s Macassa Creek Gold Project is located west of Wesdome’s
Mishi Open Pit Mine and Argo Gold’s Abbie Lake Project is located 40 kilometres north of the Wesdome’s gold mill. The Rockstar Gold
Project is located 20 kilometres east of Richmont’s Island Gold Mine.
The Macassa Creek, Abbie Lake and Rockstar Gold Projects all have historic drilling and trenching that indicate the projects have both
low-grade open pit potential and high-grade underground potential – particularly given their proximity to two gold mills.
The third gold project in Argo Gold is the McVicar Lake Gold Project which was staked in May 2016. McVicar Lake is located in the
Lang Lake Greenstone Belt 30 kilometres NW of the past-producing Golden Patricia Mine (600,000 ounces @ 14 grams per tonne gold). In
1993, exploration work at McVicar Lake identified the Chellow Vein outcrop which averages 28 gram per tonne gold over a 70 metre
The original Argo Gold project is the Hurdman Silver-Zinc Project, where the most significant drill intercept is 23.6 metres of 12
gram per tonne silver and 3% zinc.
Dr. Allen Alper: That sounds very good. Could you tell me a bit more about what your plans are for 2017?
Judy Baker: Argo Gold is currently acquiring, digitizing and compiling all historic data for all projects. The end result
is the construction of 3D models of all known data for all projects. This will allow for the various types of information - geology,
structure, geophysics and geochemical data - to be reviewed together to better understand correlations. Argo Gold is also completing
on-site geo-referencing of claims where required and confirming locations of previous drill-hole collars and trenches.
Argo Gold will initiate consultation with local communities and First Nations groups. The objective is to have Plans and Permits in
place for spring, summer and fall work programs at all projects. Initial field work will commence in May 2017 and include; mapping,
sampling and trenching at all Gold Projects. Argo Gold will commence drilling at its Gold Projects in the fall of 2017.
Dr. Allen Alper: Well that sounds very good. Could you tell me a bit about your background Judy?
Judy Baker: I have a geology and engineering degree from Queen’s University in Kingston, Ontario. I've worked in the
resource sector since 1989. My first job in the sector was working at a zinc-copper mine in the Matagami camp where I was very much
impacted by both the capability of mineral exploration to create economic wealth as well as the impact of increasing commodity prices
to create free cash flow for companies.
Argo Gold is the third resource company that I have founded. Previous companies were Canada Lithium in 2008 and Superior Copper in
the first half of 2011. Gold is the current focus as 2016 demonstrates that the world values gold again in the scenario of negative
real rates, low interest rates, potential for inflation and the fact that major world economies have printed a lot of money to
stimulate their economies.
Dr. Allen Alper: That sounds good. Could you tell me a little bit about your team?
Judy Baker: Argo Gold’s technical team is comprised of industry veteran’s Delio Tortosa, Bill Kerr and Mike Tremblay.
Delio Tortosa and Bill Kerr have been instrumental in identifying gold projects with indications of economic viability. Delio Tortosa
also has a depth of experience in the Wawa, Ontario camp and Bill Kerr has a depth of experience in the Uchi Domaine where the Woco
and McVicar Lake Gold Projects are located.
Mike Tremblay is an experienced prospector, who has a nose for identifying gold mineralization and was responsible for staking the
Borden Lake mineral claims whereby a significant low-grade gold intercept in April 2011 led to identifying 4 million ounces and sale
of the company to Goldcorp. Mike Tremblay is responsible for the original staking of all of the Wawa, Ontario projects.
Argo Gold’s board of directors also has a depth of experience in the junior resource sector.
Dr. Allen Alper: Well that sounds very good. What are the primary reasons our high-net-worth readers/investors should consider
investing in your company?
Judy Baker: On a valuation basis, Argo Gold only has a market capitalization of Canadian $2 million dollars. This is very
low for the suite of high quality gold projects that are 100% owned by Argo Gold. Argo Gold’s projects have strong indications of
The Woco Gold Project already has mineable grades over mineable widths.
The gold grade and tonnage hurdle rates for the Wawa, Ontario area projects – Macassa Creek, Abbie Lake and Rockstar Gold – look
achievable in the context of nearby road access to two gold producers – Wesdome Gold Mines and Richmont Mines.
Dr. Allen Alper: Sounds excellent! I’m very impressed.
Judy Baker (416) 786-7860
365 Bay Street, Suite 400
Toronto, Ontario M5H 2V1
T: 416 786-7860