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Argonaut Resources wraps up placement to advance Torrens and Higginsville

Published: 11:29 27 Nov 2017 AEDT

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Argonaut has boosted its cash position

Argonaut Resources NL (ASX:ARE) has been a strong performer recently, with its shares currently trading at $0.025, or more than triple their valuation from just three months ago.

Argonaut has now added to its cash position through the completion of a placement to sophisticated and professional investors at $0.02 which raised $700,000.

The new funding will be allocated to the activities associated with the Torrens geophysical surveys and additional Higginsville exploration activities.

Importance of Higginsville

Recent drilling results from Higginsville increased the potential for a commercial gold deposit.

Highlights included: 11 metres at 2.76 g/t gold from 77 metres.

Importantly the drilling demonstrating improved continuity of gold grades along strike.

READ: Argonaut's drilling reveals potential for a gold deposit in the Eastern Goldfields

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