A small village near the Dragon tower at the starting area.
There is a townhall, two wooden shacks and four huts, one is already a ruin.
A forge and two bonfires are part of the settlement.
Every building contains one loot-spawn (the townhall two) and there are some more around the buildings.
There are at least two spawn points for enemies. Mostly unarmed skeletons, but fully armed ones can spawn too. It seams like at daytime only unarmed skeletons will spawn, but this needs further testing.
How to find:
From the starting position follow the beach until you find the rock formation on the picture. From this point go deeper into the island. Keep you eyes open if you don't run right inside Argo, at least you should be able to see the dragon tower near it. Than use the picture above as reference.
Since starting position isn´t fixed you could run exactly in the opposite direction. If for a long time (5 min) there is no place like a lento or pick-able rocks lying around, you probably should have used the other way.