Proactiveinvestors Australia Argonaut Resources NL https://www.proactiveinvestors.com.au Proactiveinvestors Australia Argonaut Resources NL RSS feed en Wed, 24 Apr 2019 00:12:09 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Argonaut Resources leveraged to drilling near BHP’s IOCG discovery in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/217919/argonaut-resources-leveraged-to-drilling-near-bhps-iocg-discovery-in-south-australia-217919.html Argonaut Resources NL (ASX:ARE) holds base metals assets in Australia and Zambia and lithium projects in Canada. It is run by exploration director and CEO Lindsay Owler, a geologist and geophysicist with more than 20 years of experience in mineral exploration and development. Owler has 10 years of executive experience and has established and led mineral exploration operations in Australia, North America, Africa and South-East Asia.

What does Argonaut Resources own?

The key asset in Australia is the Torrens joint venture copper project in South Australia near projects owned by OZ Minerals Limited (ASX:OZL) and BHP Group Ltd (ASX:BHP) (LON:BHP) (NYSE:BHP) (NYSE:BBL).

Torrens project features copper-gold mineralisation and drilling of a large copper-gold anomaly the project restarted less than 3 weeks ago.

The Torrens anomaly has 28 distinct target zones and a larger footprint than BHP’s nearby Olympic Dam mine.

Gravity and magnetic targets at Torrens are about 40 kilometres northeast of BHP’s standout Oak Dam West copper discovery.

Oak Dam West is about 65 kilometres southwest of the major miner’s large Olympic Dam operations which is targeting 215,000-tonnes copper production target for the 2018-19 financial year.

Argonaut’s 30%-owned Torrens project is run as a joint venture with Aeris Resources Ltd (ASX:AIS), which holds the remaining 70% of the JV.

Aeris is a copper producer that also has the Tritton Copper Operation in NSW.

At the South Australian exploration project Torrens, the JV partners have committed to an initial 8-10 hole, $5 million program on Lake Torrens.

They began their redrilling effort at the IOCG project in January 2019 after BHP identified a major potential new IOCG system in November 2018 in the Olympic province, at similar depths to be targeted by Torrens project drilling.

The program is part of a wider, extensive 25-30 hole $15 million program previously expected to take 18-24 months.

Drillers will target geophysical anomalies with similar properties to the Oak Dam West, Olympic Dam and Carrapateena copper deposits.

An environmentally sensitive, heli-portable drilling rig is being used and holes will be drilled to about 800-1,500 metres deep targeting dense, iron-rich rocks believed to contain copper-gold mineralisation.

Argonaut and Aeris confirmed in 2007-08 mineralisation at the major iron oxide copper-gold (IOCG) system at Torrens which is found beneath several hundred metres of sedimentary cover.

Western Mining Corporation had originally identified the system in the late 1970s. One of its successors, WMC Resources, was rolled into BHP in 2005.

If Argonaut and Aeris make a discovery at Torrens, there is scope for a very large tonnage deposit and successive discoveries.

The partners have an extended history with the Torrens project and celebrated last year as the company “unshackled” the project and resolved a number of legislative issues.

In April 2016, the Federal Court refused three applicants requests for native title over Lake Torrens, with the primary decision upheld by the Full Federal Court in March 2017.

The applicants’ April 2018 motion seeking special leave to appeal was then declined by the High Court of Australia in a judgement in October 2018.

In the March 2018 quarter, the company had been granted an approval under section 23 of the Aboriginal Heritage Act 1988 by South Australia’s Minister for Aboriginal Affairs and Reconciliation.

The High Court ruling in December quarter of 2018 became a final green-light for the partners who then opted to go ahead with their fully-funded stage I drilling program at Torrens.

Partners Argonaut and Aeris then started the March quarter of 2019 with drilling in January 2019 and also added to Torrens exploration project ground.

In January 2019 Argonaut accepted offered terms for ELA 2018/160, a 198 square kilometre exploration licence area in three parts, with part of the land adjoining the Torrens licence and a separate part covering a Red Dam IOCG target.

Another junior company operating in the area, Auroch Minerals Ltd (ASX:AOU), holds a likely eastern extension to the Torrens JV’s gravity anomaly.

Auroch plans to drill the area dubbed the Torrens East Copper Project and views it as highly prospective.

What is Argonaut Resources’ backing?

Argonaut had $4.7 million cash at the end of December quarter 2018 and was expecting cash outflows of $859,000 in the quarter.

It had $545,000 budgeted for exploration and evaluation.

Aeris had $21.7 million of useable cash for exploration and its Tritton operation at the end of the December quarter.

The partners’ March quarter results are expected by the end of April 2019.

Inflection points

IOCG discoveries in the Olympic Dam province

Major miner interest in Argonaut and Aeris and representation on their share registries

Nature of discoveries at Torrens project

Exploration and financing milestone hits

CEO Lindsay Owler highlights copper-gold prospectivity

“The hunt for copper under Lake Torrens is finally underway,” Argonaut CEO Lindsay Owler said.

“The Argonaut board is thrilled to have reached this milestone after pursuing access approvals for so many years.

“The high-grade copper discovery nearby at Oak Dam West confirms what Argonaut management has always believed: the Stuart Shelf has a huge copper endowment.”

 

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Wed, 03 Apr 2019 21:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217919/argonaut-resources-leveraged-to-drilling-near-bhps-iocg-discovery-in-south-australia-217919.html
<![CDATA[News - Argonaut Resources restarts drilling at large Torrens copper-gold anomaly in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/216594/argonaut-resources-restarts-drilling-at-large-torrens-copper-gold-anomaly-in-south-australia-216594.html Argonaut Resources NL (ASX:ARE) has restarted drilling at the third prioritised target within its large Torrens copper-gold anomaly in South Australia, of which it controls a 30% share with joint venture partner Aeris Resources Ltd (ASX:AIS).

The drilling rig has been moved from drill hole TD8 to drill hole TD9 following the intersection of artesian ground water at a depth of 100 metres.

Argonaut expects that TD8 will be re-drilled later in the program.

Drill hole TD7 has been completed to a depth of 858 metres and assay results are pending.

READ: Argonaut Resources welcomes positive news near Torrens JV; assays pending

The joint venture has committed to an initial 8-10 hole, $5-million program which is part of an extensive 25-30 hole, $15-million program expected to take 18-24 months.

The Torrens anomaly is an extensive series of gravity and magnetic targets about 40 kilometres northeast of BHP Billiton Ltd’s (LON:BHP) Oak Dam West copper discovery.

Drilling will target geophysical anomalies that have similar properties to the Oak Dam West, Olympic Dam and Carrapateena copper deposits.

READ: Argonaut Resources and partner have drill spinning at large Torrens copper-gold anomaly

A heli-portable drilling rig capable of drilling deep, cored holes in remote locations is drilling from custom-made pontoons, designed to protect the salt crust and support the drilling rig.

Holes will be drilled to depths of between 800-1,500 metres into dense, iron-rich rocks which are interpreted to contain copper and gold mineralisation.

Torrens has a larger footprint than that of Olympic Dam and lies across the Torrens hinge zone, a continent-scale zone of crustal weakness that appears to have been a conduit for mineralising fluids from the Earth’s mantle.

READ: Argonaut Resources’ Torrens JV to drill IOCG project after BHP identifies major system

The major iron oxide copper-gold mineralisation system at Torrens is beneath several hundred metres of sedimentary cover and was identified in drilling by Western Mining Corporation in the late 1970s.

Joint venture partners Argonaut and Aeris confirmed the discovery in drilling during 2007-2008 and aim to complete further drilling to intersect the modelled copper-gold mineralisation.

The Torrens project is 50 kilometres from OZ Minerals Ltd’s (ASX:OZL) Carrapateena copper-gold deposit and 75 kilometres from BHP’s Olympic Dam Mine.

Joint venture partner Aeris took over a manager of the JV in September last year.

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Sun, 17 Mar 2019 21:27:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216594/argonaut-resources-restarts-drilling-at-large-torrens-copper-gold-anomaly-in-south-australia-216594.html
<![CDATA[News - Argonaut Resources welcomes positive news near Torrens JV; assays pending ]]> https://www.proactiveinvestors.com.au/companies/news/216438/argonaut-resources-welcomes-positive-news-near-torrens-jv-assays-pending-216438.html Argonaut Resources NL (ASX:ARE) has welcomed the positive results from Auroch Minerals Ltd’s (ASX:AOU) review of its recently-acquired Torrens East Copper Project in South Australia.

Auroch’s review of historical geophysical, geological and drilling data for the Torrens project has identified potential target areas for follow-up exploration.

Interestingly, Auroch’s exploration tenure is a likely eastern extension of the large Torrens JV (70% Aeris Resources; 30% Argonaut) gravity anomaly.

READ: Argonaut Resources and partner drill first hole at Lake Torrens; encouraging geology intersected

Earlier this month, Torrens JV completed the first drill hole in their phase I drilling program at Lake Torrens within the Torrens Exploration Project.

Preliminary geology observations from the first drill hole include a 60-metre wide intersection with hematite, potassium feldspar, and sericite altered non-magnetic interval. Final assays are pending.

Core photo showing dark grey hematite bands within a potassium feldspar and sericite dominant alteration assemblage

Auroch chief executive officer Aidan Platel said: “The company has completed an initial compilation and review of historical peer and government data with the company eager to begin exploration work on what we believe to be a highly-prospective project.

“The Torrens region has been subject to several high-profile announcements and results with recent peer exploration providing a blue-print for Auroch’s exploration plans.”

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Thu, 14 Mar 2019 15:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216438/argonaut-resources-welcomes-positive-news-near-torrens-jv-assays-pending-216438.html
<![CDATA[News - Argonaut Resources and partner drill first hole at Lake Torrens; encouraging geology intersected ]]> https://www.proactiveinvestors.com.au/companies/news/215964/argonaut-resources-and-partner-drill-first-hole-at-lake-torrens-encouraging-geology-intersected-215964.html Argonaut Resources NL (ASX:ARE) and joint venture partner Aeris Resources Ltd (ASX:AIS) have completed the first drill hole in their phase I drilling program at Lake Torrens within the Torrens Exploration Project in South Australia.

Argonaut owns 30% of the Torrens project through its subsidiary Kelaray Pty Ltd with Aeris owning the other 70%.

Preliminary geology observations from the first drill hole include a 60-metre wide intersection with hematite, potassium feldspar, and sericite altered non-magnetic interval.

Core photo showing dark grey hematite bands within a potassium feldspar and sericite dominant alteration assemblage

Notably, hematite is recognised as an accessory mineral associated with iron oxide copper gold mineralisation within the Gawler Craton.

Aeris executive chairman Andre Labuschagne said: “Whilst it is early days and logging and assays are still pending, we are very encouraged with what we have seen from this first hole.

“It is also pleasing that we have safely completed this first hole using the unique drill rig configuration.”

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Thu, 07 Mar 2019 13:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215964/argonaut-resources-and-partner-drill-first-hole-at-lake-torrens-encouraging-geology-intersected-215964.html
<![CDATA[News - Argonaut Resources to talk Lake Torrens at Proactive CEO Sessions ]]> https://www.proactiveinvestors.com.au/companies/news/214041/argonaut-resources-to-talk-lake-torrens-at-proactive-ceo-sessions-214041.html Argonaut Resources NL (ASX:ARE) has waited a long time to get the drill bit spinning at Lake Torrens and as of January 2019, drilling has commenced.

The large Torrens copper-gold anomaly has a footprint larger than the nearby Olympic Dam iron oxide-copper-gold (IOCG) project of BHP Group Ltd (ASX:BHP).

CEO Lindsay Owler will present to investors at the Sydney CEO Session on Monday, February 18 and at the Melbourne session on Tuesday, February 19.

A major drilling program with joint venture partner Aeris Resources Ltd (ASX:AIS) began on 20 January 2019.

Stage one of this program will comprise 8-10 drill holes to depths of 700-1,500 metres.

IOCG targets have been identified from gravity modelling and geological interpretation.

READ: Argonaut Resources and partner have drill spinning at large Torrens copper-gold anomaly

Argonaut’s CEO Lindsay Owler said: “The hunt for copper under Lake Torrens is finally underway.

“The Argonaut board is thrilled to have reached this milestone after pursuing access approvals for so many years.

“The high-grade copper discovery nearby at Oak Dam West confirms what Argonaut management has always believed: the Stuart Shelf has a huge copper endowment.”

In November 2018 BHP made the Oak Dam West copper discovery located 40 kilometres southwest of Torrens reinforcing the prospectivity of the Stuart Shelf and the merits of Torrens exploration model.

Register for the CEO Sessions today to find out more.

Sydney details, Monday, February 18, 2019

Melbourne details, Tuesday, February 19, 2019

Also featuring at both sessions will be Kazia Therapeutics Ltd (ASX:KZA), AdAlta Ltd (ASX:1AD), Peninsula Energy Ltd (ASX:PEN) while Theta Gold Mines Ltd (ASX:TGM) is on the Sydney program and Anatara Lifesciences Ltd (ASX:ANR) is on the Melbourne program.

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Wed, 06 Feb 2019 12:17:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214041/argonaut-resources-to-talk-lake-torrens-at-proactive-ceo-sessions-214041.html
<![CDATA[News - Argonaut Resources and partner have drill spinning at large Torrens copper-gold anomaly ]]> https://www.proactiveinvestors.com.au/companies/news/213006/argonaut-resources-and-partner-have-drill-spinning-at-large-torrens-copper-gold-anomaly-213006.html Argonaut Resources NL (ASX:ARE) and joint venture partner Aeris Resources Ltd (ASX:AIS) have started drilling the large Torrens copper-gold anomaly on Lake Torrens in South Australia.

Drilling is underway at the first prioritised copper target of the anomaly, which has a footprint larger than the nearby Olympic Dam iron oxide-copper-gold (IOCG) project of BHP Group Ltd (ASX:BHP).

READ: Argonaut Resources’ Torrens JV to drill IOCG project after BHP identifies major system

In fact, Torrens is in the same trend that also hosts the Carrapateena copper-gold deposits of OZ Minerals Limited (ASX:OZL) and BHP’s recent Oak Dam West copper deposit, which is just 40 kilometres away.

Torrens anomaly is an extensive series of gravity and magnetic targets, most of which are under the large Lake Torrens salt lake.

READ: Argonaut Resources leveraged to potential exploration success as drill rig mobilises

This has necessitated the partners adopting a unique and environmentally sensitive drilling solution.

A heli-portable drilling rig capable of drilling deep, cored holes in remote locations is drilling from custom-made pontoons, designed to protect the salt crust and anchor the drilling rig.

Holes will be drilled to depths of between 800 and 1,500 metres into dense, iron-rich rocks, interpreted to contain copper and gold mineralisation.

“Milestone for Argonaut”

Argonaut CEO Lindsay Owler said “The commencement of drilling at Torrens is a huge milestone for Argonaut.

“Argonaut’s subsidiary, Kelaray Pty Ltd, was first granted the Torrens licence in 1998.

“The company resolutely pursued access approvals to this remarkable copper target in difficult circumstances over many years.”

READ: Aeris Resources prepares to drill within the week at Torrens

There are 28 distinct target zones within the broader Torrens anomaly and the JV has committed to an initial 8-10 hole program costing about $5 million.

Torrens project, copper mines and prospects on the Stuart Shelf in South Australia.

Part of more extensive program

This is part of an extensive 25-30 hole, $15 million, program which is expected to take 18 to 24 months.

The anomaly is located over the Torrens Hinge Zone, a continent-scale zone of crustal weakness that

appears to have been a conduit for mineralising fluids from the Earth’s mantle.

Drilling of the anomaly by Western Mining Corporation in the late 1970s and by the Torrens Joint Venture in 2007 and 2008 confirmed the existence of a major IOCG mineralising system beneath several hundred metres of sedimentary cover.

More drilling is required to intercept the modelled copper-gold mineralisation.

READ: Aeris Resources to adopt innovative helicopter method in upcoming Torrens drilling

Ten 6-metre by 2.8-metre raised work platforms were transported by helicopter onto the lake and bolted together to act as a stable platform on the lake surface.

The drill rig was then flown onto the platform in 16 sections and re-assembled.

Personnel, equipment, drill consumables and other materials are also being transported via helicopter from the exploration camp to the work platform.

Potential for world-class deposit

In the event of a discovery, Torrens has the potential to host a world-class copper-gold deposit.

Argonaut has a 30% interest in the Torrens JV with Aeris holding 70%.

In September 2018, Aeris took over as manager of the joint venture.

Owler added: “Our supportive shareholders can enjoy this moment as much as the directors and management. Now the drill results can do the talking!”

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Tue, 22 Jan 2019 09:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213006/argonaut-resources-and-partner-have-drill-spinning-at-large-torrens-copper-gold-anomaly-213006.html
<![CDATA[News - Argonaut Resources leveraged to potential exploration success as drill rig mobilises ]]> https://www.proactiveinvestors.com.au/companies/news/212448/argonaut-resources-leveraged-to-potential-exploration-success-as-drill-rig-mobilises-212448.html Argonaut Resources NL (ASX:ARE) has revealed that the drilling rig has arrived on site to commence drilling at the large-scale anomaly at its 30% owned Torrens Project in South Australia.

Drilling from the salt crust of Lake Torrens into the first prioritised copper target is estimated to commence this Wednesday 16 January 2019.

The drill rig is heli-portable and capable of drilling deep mineral exploration holes.

A 27-man exploration camp has been commissioned at site to accommodate the exploration workforce.

READ: Aeris Resources prepares to drill within the week at Torrens

Argonaut’s 30% interest in the joint venture is alongside operator and 70% owned Aeris Resources Ltd (ASX:AIS).

The joint venture is exploring for iron oxide-copper-gold systems in the highly prospective Stuart Shelf region of South Australia.

The project is within 40 kilometres of BHP’s Oak Dam West copper discovery, 50 kilometres of Oz Minerals’ Carrapateena copper-gold deposit and 75 kilometres from BHP Billiton’s Olympic Dam mine.

READ: Argonaut Resources’ Torrens JV to drill IOCG project after BHP identifies major system

The project hosts a very large, Olympic Dam-style iron-oxide, copper, gold (IOCG) target with the Torrens coincident magnetic and gravity anomaly having a footprint larger than Olympic Dam.

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Mon, 14 Jan 2019 12:21:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212448/argonaut-resources-leveraged-to-potential-exploration-success-as-drill-rig-mobilises-212448.html
<![CDATA[News - Argonaut Resources’ Torrens JV to drill IOCG project after BHP identifies major system ]]> https://www.proactiveinvestors.com.au/companies/news/211272/argonaut-resources-torrens-jv-to-drill-iocg-project-after-bhp-identifies-major-system-211272.html Argonaut Resources NL (ASX:ARE) is tracking towards a January 2019 start to drilling of the Torrens joint venture copper project in South Australia near the projects of Oz Minerals Limited (ASX:OZL) and BHP Billiton Limited (ASX:BHP).

The company is expecting to see equipment mobilised from this week at its JV project, 75 kilometres from BHP’s Olympic Dam mine and 50 kilometres from OZL’s Carrapateena deposit.

READ: Argonaut Resources and JV partner to drill Torrens project in South Australia

Argonaut’s flagship project extends over three exploration licences, with ownership of the primary licence residing in the company’s joint venture with Aeris Resources Ltd (ASX:AIS).

Aeris holds 70% of the JV while Argonaut has a 30% interest.

Argonaut was project operator of the JV until September 2018, handing over the management reins to Aeris in the same month it green-lighted stage I of a drilling program at Torrens Copper Project.

The ASX-listed company tipped its drill team would drill 8-10 holes in depths between 700 and 1,500 metres at priority drill targets.

Innovative drill method

The partners’ first-stage fully-funded drilling effort is expected to start in mid-January 2019 and use a heli-portable diamond drill rig to minimise disturbance on the Torrens salt lake.

Drilling at Torrens could eventually take in up to 70 deep diamond drill holes covering an area of 120 square kilometres.

The drill program comes after 28 large-volume iron-ore copper gold (IOCG) drilling targets were identified from airborne gravity and magnetic survey data in the 2017-18 financial year.

Argonaut’s chief executive officer, geologist Lindsay Owler, said the planned drilling program targeted areas that had been geophysically modelled as having the physical properties of large IOCG deposits.

READ: Argonaut Resources green lights major drilling program at Torrens

Argonaut and Aeris' project hosts a very large, Olympic Dam-style iron-oxide, copper, gold (IOCG) target with the Torrens coincident magnetic and gravity anomaly having a footprint larger than Olympic Dam.

Torrens anomaly is located over Torrens Hinge Zone, a continent-scale zone of crustal weakness which Argonaut’s CEO Owler said “appears to have been a conduit for mineralising fluids from the Earth’s mantle.”

Owler wrote in October 2018, “More drilling is required to intercept the modelled copper-gold mineralisation.

“In the event of a discovery, Torrens has the potential to host a world-class copper-gold deposit.”

BHP connection

Owler has highlighted drilling of the Torrens anomaly by Western Mining Corporation in the late 1970s and by Torrens Joint Venture in 2007 and 2008 confirmed a major IOCG mineralising system beneath several hundred metres of sedimentary cover.

A successor of Western Mining, WMC Resources, was rolled into BHP in 2005.

In November 2018, BHP identified a potential new IOCG system in the Olympic province, at similar depths to be targeted by Torrens project drilling.

If Aeris and Argonaut make a discovery at Torrens, there is scope for a very large tonnage deposit and successive discoveries.

The partners are also exploring IOCG systems in the highly prospective Gawler Craton (Stuart Shelf) region of South Australia.

The Torrens project is near the eastern margin of Stuart Shelf.

Resolution of regulatory and legislative access issues

In the March 2018 quarter, the company was granted an approval under section 23 of the Aboriginal Heritage Act 1988 by South Australia’s Minister for Aboriginal Affairs and Reconciliation.

Argonaut CEO Owler spoke to Proactive Investors’ Stocktube video channel at the time, saying “The shackles are off Torrens”.

Sophisticated and professional investors welcomed the development, subscribing to $5.5 million of new Argonaut shares in the June 2018 quarter.

Owler said in April 2018: “The company has tenaciously pursued exploration access to the Torrens project for a long time and we now have both access approvals and funding in place.”

The tin rattle was designed to back the company’s exploration programs.

READ: Argonaut Resources raises $5.5 million to progress Torrens iron oxide copper-gold project

In April 2016, the Federal Court refused three applicants requests for native title over Lake Torrens, with the primary decision upheld by the Full Federal Court in March 2017.

The applicants’ April 2018 motion seeking special leave to appeal was then declined by the High Court of Australia in a judgement in October 2018, drawing a line under legislative uncertainty for the company.

The ruling paved the way for the company to now go ahead with the fully-funded stage I drilling program at Torrens project.

Project pipeline

Argonaut has a number of other projects in its pipeline besides its flagship project Torrens in South Australia, including the Nyungu cobalt-copper deposit in Zambia.

Drilling has defined more than 12,000 tonnes of contained cobalt and management at Nyungu, highlighting the potential for a two-stage, low-cost, short-lead-time copper-cobalt mine.

A high-grade interception extended for 23 metres at the project, grading 0.21% cobalt.

READ: Argonaut Resources prepares to upgrade cobalt deposit in Zambia

Besides Australia and Zambia, the company’s copper and zinc project interests also extend to Queensland.

Its lithium projects are found in Ontario, Canada and South Australia.

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Sun, 16 Dec 2018 18:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211272/argonaut-resources-torrens-jv-to-drill-iocg-project-after-bhp-identifies-major-system-211272.html
<![CDATA[News - Argonaut Resources and JV partner to drill Torrens project in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/210541/argonaut-resources-and-jv-partner-to-drill-torrens-project-in-south-australia-210541.html Argonaut Resources NL (ASX:ARE) and its joint venture partner Aeris Resources Ltd (ASX:AIS) are about to start drilling the Torrens project in South Australia, which has a larger footprint than the nearby world-class Olympic Dam project.

The 8-10 stage I diamond drilling program will utilise an innovative helicopter-supported drilling method as it will take place on the environmentally sensitive Lake Torrens salt lake landform.

READ: Aeris Resources to adopt innovative helicopter method in upcoming Torrens drilling

The method, which involves a specialised heli-portable diamond drill rig, has been designed to minimise disturbance on the salt lake.

Two contracts have been awarded by the partners for the drilling and helicopter services with equipment to be mobilised from mid-December and drilling expected to start in mid-January.

Argonaut’s wholly-owned subsidiary Kelaray Pty Ltd holds a 30% stake in the JV with Aeris holding the remaining 70%.

READ: Argonaut Resources green lights major drilling program at Torrens

Ten 6-metre by 2.8-metre raised work platforms will be transported by helicopter onto the lake and bolted together to act as a stable platform on the lake surface.

The drill rig will be flown onto the platform in 16 sections and then re-assembled.

Personnel, equipment, drill consumables and other materials will be also transported via helicopter from the exploration camp to the work platform.

READ: Argonaut Resources’ leaping share price attracts ASX speeding ticket

The Torrens project is 50 kilometres from Oz Minerals Limited’s (ASX:OZL) Carrapateena deposit and 75 kilometres from BHP Billiton Limited’s (ASX:BHP) Olympic Dam mine.

Argonaut and Aeris are encouraged by a recent discovery by BHP Billiton Limited (ASX:BHP) of a discrete gravity anomaly around 45 kilometres southwest from Torrens.

The Torrens Anomaly is a large regionally significant coincident magnetic and gravity anomaly with a footprint of more than 120 square kilometres.

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Wed, 05 Dec 2018 16:59:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210541/argonaut-resources-and-jv-partner-to-drill-torrens-project-in-south-australia-210541.html
<![CDATA[News - Argonaut Resources’ leaping share price attracts ASX speeding ticket ]]> https://www.proactiveinvestors.com.au/companies/news/209985/argonaut-resources-leaping-share-price-attracts-asx-speeding-ticket-209985.html Argonaut Resources NL (ASX:ARE) has attracted a speed and volume ticket from the ASX following an increase in its share price from a low of 1.7 cents on November 13, 2018 to an intra-day high of 2.4 cents today.

Responding to the price and volume query, the company mentioned BHP Billiton’s (ASX:BHP) announcement today revealing the potential identification of a new iron oxide, copper gold mineralised system in the Olympic IOCG Province.

Argonaut’s Lake Torrens tenements are in same Olympic IOCG Province, nearby to this discovery.

READ: Argonaut Resources green lights major drilling program at Torrens

The company previously reported that a major program of drilling at the Torrens anomaly to similar depths as BHP’s discovery drilling is imminent.

Argonaut believes that the announcement of BHP’s discovery in combination with near-term commencement of Argonaut’s drilling is likely to have influenced the prices and trading volumes of its shares.

READ: Argonaut Resources has market's attention with Olympic Dam style target

The Torrens Copper Project hosts a very large iron-oxide, copper, gold (IOCG).

The sheer size of the anomaly is impressive given it is larger than the nearby multi-billion-dollar Olympic Dam mine, one of the largest copper deposits in the world.

In the event of discovery, there is scope for a very large tonnage deposit and successive discoveries.

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Tue, 27 Nov 2018 15:06:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209985/argonaut-resources-leaping-share-price-attracts-asx-speeding-ticket-209985.html
<![CDATA[News - Argonaut Resources green lights major drilling program at Torrens ]]> https://www.proactiveinvestors.com.au/companies/news/204977/argonaut-resources-green-lights-major-drilling-program-at-torrens-204977.html Argonaut Resources NL (ASX:ARE) has resolved to proceed with stage I of a major drilling program at the Torrens Joint Venture in South Australia.

Stage I will involve 8-10 drill holes to depths of 700-1,500m targeting priority drill targets.

Parties to the joint venture have committed sufficient funding for the 2019 financial year to complete this work.

Preparations are well advanced, and a commencement date will be revealed once the timing of certain logistical matters is confirmed.

READ: Argonaut Resources identifies iron oxide copper-gold targets at Torrens project

Argonaut’s CEO Lindsay Owler said: “The road to drilling at the giant Torrens target has been a long one and agreement on the operational program and budget is the final step.

“Shareholders can now expect rapid progress towards drilling and the excitement that this drilling program will bring.”

READ: Argonaut Resources has market's attention with Olympic Dam style target

The Torrens Copper Project hosts a very large iron-oxide, copper, gold (IOCG) target and is the company’s primary focus.

The project consists of three exploration licences, the primary licence is held in joint venture with Aeris Resources (ASX:AIS) who holds 70% alongside Argonaut’s 30% operating interest.

The sheer size of the anomaly is impressive given it is larger than the nearby multi-billion-dollar Olympic Dam mine, one of the largest copper deposits in the world.

In the event of discovery, there is scope for a very large tonnage deposit and successive discoveries.

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Mon, 17 Sep 2018 12:01:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204977/argonaut-resources-green-lights-major-drilling-program-at-torrens-204977.html
<![CDATA[News - Argonaut Resources closes unmarketable parcel sale facility ]]> https://www.proactiveinvestors.com.au/companies/news/201715/argonaut-resources-closes-unmarketable-parcel-sale-facility-201715.html Argonaut Resources NL (ASX:ARE) has completed its share sale facility for shareholders holding less than $500 in value of its ordinary shares (unmarketable parcel).

A total of 7,392,329 shares were sold in an off-market transaction at 1.82 cents per share.

The proceeds will be distributed to shareholders who participated in the facility.

Where the total proceeds from the sale of an unmarketable parcel was less than $2, the funds will be donated to the Davenport Community Council in Port Augusta.

The amount to be donated is $488.87.

Argonaut recently identified 28 large volume iron oxide copper-gold (IOCG) drilling targets from airborne gravity and magnetic survey data of the Torrens exploration licence in South Australia.

READ: Argonaut Resources identifies iron oxide copper-gold targets at Torrens project ]]>
Fri, 27 Jul 2018 16:59:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201715/argonaut-resources-closes-unmarketable-parcel-sale-facility-201715.html
<![CDATA[News - Argonaut Resources identifies iron oxide copper-gold targets at Torrens project ]]> https://www.proactiveinvestors.com.au/companies/news/200806/argonaut-resources-identifies-iron-oxide-copper-gold-targets-at-torrens-project-200806.html Argonaut Resources NL (ASX:ARE) has identified 28 large volume iron oxide copper-gold (IOCG) drilling targets from airborne gravity and magnetic survey data of the Torrens exploration licence in South Australia.

The survey aimed to improve the probability of drilling success through better targeting of known anomalies in the company’s upcoming drill program.

Torrens is a joint venture between manager Argonaut and majority owner Aeris Resources Ltd (ASX:AIS), which owns 70% of the licence.

Gravity anomalies abound

Of the 28 targets identified, 19 of them are either coincident gravity and magnetic anomalies, or gravity only anomalies.

A further four targets were identified as deeper gravity anomalies.

Rocks with high concentrations of subsurface iron, which can be distinguished via gravity and magnetic surveys, are often associated with economic concentrations of copper and gold.

Argonaut used unconstrained inversion modelling to create three-dimensional, mathematical models, which were then populated with downhole geophysical measurements available from existing drill holes.

READ: Argonaut Resources raises $5.5 million to progress Torrens iron oxide copper-gold project

An airborne geophysical survey across the entire licence area was completed in March, recording gravity with a FALCON airborne gravity gradiometer system and magnetics with a high resolution, high sensitivity Scintrex magnetometer.

The Torrens JV technical committee has completed a thorough review of Eastern Gawler Craton geology with specific regard to IOCG mineralisation, and the most prospective targets will be drilled early in the program commencing next quarter.

Fabrication of specialist heli-portable equipment for environmentally sensitive drilling on a salt lake crust will commence this week.

READ: Argonaut Resources has market’s attention with Olympic Dam style target

Torrens is a coincident magnetic and gravity anomaly with a footprint considerably larger than that of Olympic Dam.

Drilling of the Torrens anomaly by Western Mining Corporation in the late 1970s and by the Torrens JV in 2007/08 confirmed the existence of a major IOCG mineralising system beneath several hundred metres of sedimentary cover.

Further drilling is required to intercept the deposit, and the company believes that in the event of a discovery, the Torrens anomaly has the scale to host a world-class copper-gold deposit.

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Sun, 15 Jul 2018 22:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200806/argonaut-resources-identifies-iron-oxide-copper-gold-targets-at-torrens-project-200806.html
<![CDATA[News - Argonaut Resources raises $5.5 million to progress Torrens iron oxide copper-gold project ]]> https://www.proactiveinvestors.com.au/companies/news/195515/argonaut-resources-raises-55-million-to-progress-torrens-iron-oxide-copper-gold-project-195515.html Argonaut Resources NL (ASX:ARE) has completed a private share placement, raising $5.5 million at an issue price of 2 cents.

This represents a fairly nominal discount to the company's recent trading range which has fluctuated between 2.2 cents and 2.4 cents.

Argonaut chief executive officer Lindsay Owler said: “The company has tenaciously pursued exploration access to the Torrens project for a long time and we now have both access approvals and funding in place.”

Funds to assist in drilling at Torrens

The placement was made to sophisticated and professional investors.

The company will use the funds raised under the placement to advance its exploration projects.

READ: Argonaut Resources has market's attention with Olympic Dam style target In particular, the funds will assist in undertaking a major drilling program at the Torrens project in South Australia. 30-hole drilling program

Argonaut is targeting a large iron oxide copper-gold (IOCG) system at Torrens which it believes could be bigger than Olympic Dam.

The 30-hole diamond drilling program will test to an average depth of 1000 metres.

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Mon, 23 Apr 2018 11:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195515/argonaut-resources-raises-55-million-to-progress-torrens-iron-oxide-copper-gold-project-195515.html
<![CDATA[News - Argonaut Resources prepares to raise capital as it progresses Nyungu cobalt-copper deposit ]]> https://www.proactiveinvestors.com.au/companies/news/195315/argonaut-resources-prepares-to-raise-capital-as-it-progresses-nyungu-cobalt-copper-deposit-195315.html Argonaut Resources NL’s (ASX:ARE) securities have been placed in a trading halt.

The company is about to make an announcement regarding a capital raising, the details of which should be available by early next week.

May provide funding for Nyungu

Apart from strengthening the company’s balance sheet, the funds could be used to progress the group’s Nyungu cobalt-copper deposit in Zambia.

READ: Argonaut Resources prepares to upgrade cobalt deposit in Zambia

Drilling to date has defined more than 12,000 tonnes of contained cobalt and management has flagged the potential for a two-stage, low-cost, short lead time copper-cobalt mine.

Exploration targets identified

Cobalt mineralisation tends to sit at the footwall of the Nyungu central deposit in a relatively predictable manner.

Cobalt grades are typically 0.1% and are located in wide, high grade-zones.

Some promising intercepts have included 23 metres at 0.21% cobalt, providing management with confidence that further exploration has the potential to expand the project.

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Thu, 19 Apr 2018 12:02:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195315/argonaut-resources-prepares-to-raise-capital-as-it-progresses-nyungu-cobalt-copper-deposit-195315.html
<![CDATA[News - Argonaut Resources prepares to upgrade cobalt deposit in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/194384/argonaut-resources-prepares-to-upgrade-cobalt-deposit-in-zambia-194384.html Argonaut Resources NL (ASX:ARE) is planning follow-up drilling at the Nyungu copper-cobalt deposit in Zambia to increase cobalt and copper tonnages.

Drilling by Argonaut has already defined an exploration target of between 12,000 and 24,000 tonnes of contained cobalt at a grade of 0.08% to 0.12% cobalt.

READ: Argonaut Resources has market's attention with Olympic Dam style target

Peak cobalt result from diamond drilling (in 2011 and 2012) is 81.5 metres at 0.12% cobalt from 183 metres, including 23 metres at 0.21% cobalt.

Shallow drilling to focus on cobalt oxide zone

A program of shallow drilling has the potential to significantly upgrade copper and copper-cobalt mineralisation in the oxide and transitional zones.

This is particularly significant because of the favourable metallurgical properties of cobalt oxide. Much of the cobalt produced in the DRC is mined from cobalt oxide deposits.

Argonaut plans to target these zones for drilling that will provide both resource estimation data and metallurgical sample for dense media separation and leach test work.

Samples to be sent to Australia for testing

Contained copper and cobalt at Nyungu is within three weathering zones: oxidised, transitional (mixed oxide and sulphide), and fresh (sulphide).

Each of these zones presents demonstrated metallurgical opportunities for production.

Metallurgical samples have been selected from existing drill core and these samples are being exported to Australia for test work.

Initial test work will involve a mineralogical study of the four mineralisation types. Results of this initial work will direct further test work and infill drilling at Nyungu Central.

Aiming to upgrade cobalt tonnages and grades

Of the 48 drill holes completed at Nyungu targeting copper, 10 intersected significant cobalt mineralisation.

Since cobalt was not specifically targeted during previous campaigns, scope remains for a meaningful upgrade of cobalt tonnages and grades.

Cobalt oxide tonnages are particularly interesting due to potential low-cost, short lead-time processing options.

Zambia: mineral endowment, favourable metallurgy and lower political risk

The LME (London Metal Exchange) cobalt price is about US$88,000 a tonne, or around 175% higher compared to January 2017.

Recent battery-related demand for cobalt has exposed the fragile nature of cobalt supply.

Over 70% of the world’s cobalt is coming from the DRC, a risky mining jurisdiction.

Zambia is a far safer and lower-risk jurisdiction that benefits from political stability, robust mining law and functioning courts.

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Fri, 06 Apr 2018 11:27:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194384/argonaut-resources-prepares-to-upgrade-cobalt-deposit-in-zambia-194384.html
<![CDATA[News - Argonaut Resources has market's attention with Olympic Dam style target ]]> https://www.proactiveinvestors.com.au/companies/news/193433/argonaut-resources-has-market-s-attention-with-olympic-dam-style-target-193433.html Argonaut Resources NL (ASX:ARE) has an expansive project portfolio prospective for copper, cobalt, lithium and gold across Australia and Zambia in Africa.

However, the company’s focus is well and truly on its Torrens Copper Project in South Australia which shows hallmarks of an Olympic Dam style target.

This project has peaked the market’s interest and a re-rating of the company’s share price began in September 2017.

Very large iron-oxide, copper, gold (IOCG) target

The Torrens Copper Project hosts a very large iron-oxide, copper, gold (IOCG) target and is the company’s primary focus.

The project consists of three exploration licences, the primary licence is held in joint venture with Aeris Resources (ASX:AIS) who holds 70% alongside Argonaut’s 30% operating interest.

The sheer size of the anomaly is impressive given it is larger than the nearby multi-billion-dollar Olympic Dam mine, one of the largest copper deposits in the world.

In the event of discovery, there is scope for a very large tonnage deposit and successive discoveries.

Final access approvals are nearing completion and expected this year, which will allow for drilling to commence soon after.

The anomaly is in a prominent geological address

The confirmed IOCG target consists of a very large 130 square kilometre broad, intense geophysical anomaly that shares similarities to Olympic Dam.

Within this larger anomaly, there are 10 individual target zones, which creates multiple discovery opportunities.

Each target is large enough to host a world-class deposit bigger than the nearby US$1 billion Carrapateena mine under development.

The project lies within a prominent geological address in South Australia that hosts major IOCG deposits including Olympic Dam, Carrapateena and Prominent Hill.

WATCH: Argonaut Resources receives final approval for drill program

In late February 2018, Argonaut received the final approval required for a major drilling program at Torrens.

An application under section 23 of the Aboriginal Heritage Act 1988 was approved by South Australia’s Minister for Aboriginal Affairs and Reconciliation.

This will allow the joint venture to proceed with a major exploration drilling program comprising up to 70 deep diamond drill holes covering an area of 120 square kilometres.

End of a 20-year process to gain access to the giant Torrens anomaly

Argonaut’s chief executive Lindsay Owler said: “This final approval marks the end of a 20-year process to gain access to the giant Torrens anomaly for a major exploration drilling program.

"Authorisation was only pursued so doggedly because of the exceptional geological properties of the target.”

Court ruling recently dismissed Native Title claim

Historically, operators of the Torrens Project hadn’t been able to secure all required agreements with native title claimants.

The overlapping claims were eventually heard by the federal court between October 2015 and February 2016. In August 2016, the Federal Court dismissed all three native title claims over the Torrens anomaly.

All groups elected to appeal the decision to the full federal court.

The full court dismissed all three appeals by a two to one majority and this decision has been handed down on 16 March 2018.

The right time for a copper discovery

With the copper price recovering more than 50% from its 2016 low, the commodity is now thought to be in a sustained upswing.

The copper market is seen to be in a structural deficit with demand growth exceeding new supply.

The ongoing demand growth is being supported by urbanisation trends such as the fact that electric vehicles require much more copper than conventional cars.

Exposure to multiple commodities across multiple jurisdictions

Argonaut has an international exploration focus spread across multiple commodities.

Its project portfolio includes:

• Torrens Copper Project, South Australia;
• Higginsville Gold Project, Western Australia;
• Lumwana West Copper-Cobalt Project, Zambia;
• Crescent Lake Lithium Project, Canada;
• Kroombit Zinc Copper Project, Queensland;
• Lake Blanche Lithium Project, South Australia;
• Alford IOCG Project, South Australia; and
• Aroona Project, South Australia.

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Tue, 20 Mar 2018 14:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193433/argonaut-resources-has-market-s-attention-with-olympic-dam-style-target-193433.html
<![CDATA[News - Argonaut Resources confirms favourable court decision for Lake Torrens title rights ]]> https://www.proactiveinvestors.com.au/companies/news/193340/argonaut-resources-confirms-favourable-court-decision-for-lake-torrens-title-rights-193340.html Argonaut Resources NL (ASX:ARE) is getting ready to resume drilling at the Torrens joint venture near Olympic Dam in South Australia, following a favourable decision by the full federal court.

WATCH: 'The shackles are off Torrens' as Argonaut Resources receives final approval for drill program

Torrens joint venture is 30%-owned by Argonaut, which is managing the project, and 70% by Aeris Resources Limited (ASX:AIS).

Torrens native title appeals dismissed

Historically, operators of the Torrens Project hadn’t been able to secure all required agreements with native title claimants.

The overlapping claims were eventually heard by the federal court between October 2015 and February 2016. In August 2016, the Federal Court dismissed all three native title claims over the Torrens anomaly.

All groups elected to appeal the decision to the full federal court.

The full court dismissed all three appeals by a two to one majority and this decision has been handed down on 16 March 2018.

Continued respectful engagement with native title groups

Argonaut chief executive officer Lindsay Owler said: “Native title trials involve a significant emotional investment by aboriginal communities, particularly by those who give evidence at trial.

“Argonaut empathises with the people affected by Friday’s judgement and confirms its commitment to continued respectful engagement.”

Potential for a world-class copper-gold deposit

The Torrens coincident magnetic and gravity anomaly has a footprint considerably larger than that of Olympic Dam.

In the event of a discovery, the Torrens anomaly has the scale to host a world-class copper-gold deposit.

READ: Argonaut Resources surges 28% on final approval for major Torrens drilling program

The Torrens joint venture between Argonaut and Aeris required three authorisations to resume drilling at the Torrens anomaly.

These authorisations relate to native title, operational approval and aboriginal heritage.

Importantly, Argonaut confirmed last month that all three approvals had been granted and that the Torrens joint venture is preparing to commence drilling in the September quarter, 2018.

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Mon, 19 Mar 2018 11:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193340/argonaut-resources-confirms-favourable-court-decision-for-lake-torrens-title-rights-193340.html
<![CDATA[Media files - 'The shackles are off Torrens' as Argonaut Resources receives final approval for drill program ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8767/-the-shackles-are-off-torrens-as-argonaut-resources-receives-final-approval-for-drill-program-8767.html Mon, 19 Feb 2018 21:31:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8767/-the-shackles-are-off-torrens-as-argonaut-resources-receives-final-approval-for-drill-program-8767.html <![CDATA[News - Argonaut Resources surges 28% on final approval for major Torrens drilling program ]]> https://www.proactiveinvestors.com.au/companies/news/191804/argonaut-resources-surges-28-on-final-approval-for-major-torrens-drilling-program-191804.html Argonaut Resources NL (ASX:ARE) surged 28% on opening after receiving the final approval required for a major drilling program at the Torrens project in South Australia.

An application under section 23 of the Aboriginal Heritage Act 1988 has been approved by South Australia’s Minister for Aboriginal Affairs and Reconciliation.

This will allow the Torrens Joint Venture to proceed to a major exploration drilling program comprising up to 70 deep diamond drill holes covering an area of 120 square kilometres.

“End of 20-year process”

Lindsay Owler, chief executive officer, said: “This final approval marks the end of a 20-year process to gain access to the giant Torrens anomaly for a major exploration drilling program.

"Authorisation was only pursued so doggedly because of the exceptional geological properties of the target.”

READ: Argonaut Resources shares continue to run, more news flow from Torrens Project expected

Shares opened at $0.028, a 28% increase on Friday’s close.

Torrens joint venture is 30%-owned by Argonaut, which is managing the project, and 70% by Aeris Resources Limited (ASX:AIS).

The aboriginal heritage authorisation requires the Torrens Joint Venture to stay in close consultative contact with two aboriginal groups.

Owler said: “The section 23 consultation process has brought local aboriginal groups and the joint venture together in a pleasing way.

"Efforts by traditional owners, legal representatives, government officials and the Torrens JV team to protect and preserve aboriginal heritage have been sincere and productive.”

It follows approval of the exploration program for environment protection and rehabilitation, and the granting of Native Title Access to enter and undertake exploration.

Footprint larger than Olympic Dam

The Torrens coincident magnetic and gravity anomaly has a footprint considerably larger than that of Olympic Dam.

Drilling by Western Mining Corporation in the late 1970s and by the Torrens Joint Venture in 2007 and 2008 confirmed the existence of a major IOCG mineralising system beneath several hundred metres of sedimentary cover.

More drilling is required to intercept the modelled copper-gold mineralisation.

In the event of a discovery, the Torrens anomaly has the scale to host a world-class copper-gold deposit.

READ: Argonaut Resources issues 1 million shares after exercising options

In its role as manager of the joint venture, Argonaut’s wholly-owned subsidiary, Kelaray Pty Ltd intends to conduct an airborne gravity survey this month, which is expected to improve the targeting of drill holes.

Kelaray aims to start the drilling program around the end of the March 2018 quarter.

Exploration licences granted

Argonaut was recently granted two exploration licences contiguous with the project.

The licences cover a confirmed IOCG target in an area known as Murdie and a second anomaly at West Lake Torrens.

They cover 1,015 square kilometres and are immediately south and east of the Torrens project.

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Mon, 19 Feb 2018 11:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191804/argonaut-resources-surges-28-on-final-approval-for-major-torrens-drilling-program-191804.html
<![CDATA[News - Argonaut Resources enters trading halt regarding material update ]]> https://www.proactiveinvestors.com.au/companies/news/191741/argonaut-resources-enters-trading-halt-regarding-material-update-191741.html Argonaut Resources NL (ASX:ARE) has been granted a trading halt by the ASX.

The halt was requested due to the release of upcoming information regarding the outcome of an application by the Torrens Joint Venture under the South Australian Aboriginal Heritage Act.

The trading halt will end on the earlier of the commencement of normal trading on Monday 19 February 2018 or the release of the relevant information to the market.

READ: Argonaut Resources shares continue to run, more news flow from Torrens Project expected

The Torrens Copper Project in South Australia has been a catalyst for the improved share prices.

The project hosts the large-scale Torrens anomaly that has been likened to the nearby Olympic Dam deposit.

READ: Argonaut Resources issues 1 million shares after exercising options

Argonaut is a 30% partner in the Torrens Joint Venture with Aeris Resources Ltd (ASX:AIS) holding 70%.

The company’s subsidiary, Kelaray Pty Ltd, is managing the joint venture.

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Fri, 16 Feb 2018 09:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191741/argonaut-resources-enters-trading-halt-regarding-material-update-191741.html
<![CDATA[News - Argonaut Resources issues 1 million shares after exercising options ]]> https://www.proactiveinvestors.com.au/companies/news/191609/argonaut-resources-issues-1-million-shares-after-exercising-options-191609.html Argonaut Resources NL (ASX:ARE) has issued more than 1 million shares for a total value of $6000 after exercising options.

The shares were issued at $0.0055, a considerable discount to the trading price today of $0.022.

Argonaut reached a 12-month high of $0.036 in late December and traded at $0.030 and above for much of January.

Copper project a catalyst for share price

The Torrens Copper Project in South Australia has been a catalyst for the improved share prices.

Argonaut is a 30% partner in the Torrens Joint Venture with Aeris Resources Ltd (ASX:AIS) holding 70%.

The company’s subsidiary, Kelaray Pty Ltd, is managing the joint venture.

Airborne survey scheduled

An airborne gravity survey is scheduled to be flown this month over the large-scale Torrens anomaly that has been likened to the nearby Olympic Dam deposit.

This survey is expected to improve the targeting of drill holes.

The company also expects the third of three approvals required for drilling at Torrens to be granted this month.

Drilling is expected to begin around the end of the March 2018 quarter

READ: Argonaut Resources director exercises in-the-money options

The share issue follows independent, non-executive director Malcolm Richard exercising 3.2 million options in January.

Total consideration was $17,500 and the unlisted options also had a price of $0.0055.

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Wed, 14 Feb 2018 14:43:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191609/argonaut-resources-issues-1-million-shares-after-exercising-options-191609.html
<![CDATA[News - Argonaut Resources director exercises in-the-money options ]]> https://www.proactiveinvestors.com.au/companies/news/190052/argonaut-resources-director-exercises-in-the-money-options-190052.html Argonaut Resources NL (ASX:ARE) independent, non-executive director Malcolm Richard has demonstrated his confidence in the company with the exercise of 3.2 million options.

The total consideration was $17,500 and the unlisted options had a price of $0.0055.

This lifts the director’s total of fully paid ordinary shares to more than 9.5 million.

He also has two amounts of 4 million unlisted options at $0.03 that expire on 31 December 2021 and 31 December 2022 respectively.

Richard also holds an indirect interest of 1 million ordinary shares through Bond Street Custodians Limited.

READ: Argonaut Resources shares continue to run, more news flow from Torrens Project expected

Argonaut reached a 12 month high of $0.036 in late December and on Monday closed at $0.031.

The Torrens Copper Project in South Australia has been a catalyst for the share price.

Argonaut is a 30% partner in the Torrens Joint Venture with Aeris Resources Ltd (ASX:AIS) holding 70%.

The company’s subsidiary, Kelaray Pty Ltd, is manager of the joint venture.

Airborne gravity survey to be flown

An airborne gravity survey will be flown this month over the large-scale Torrens anomaly that has been likened to the nearby Olympic Dam deposit.

The company also expects the third of three approvals required for drilling at Torrens to be granted in January.

In April 2017 the joint venture was granted Native Title Access to enter and undertake exploration.

It has lodged an application under the South Australian Aboriginal Heritage Act seeking re-grant of an authorisation given in 2010 for a similar drilling program.

South Australia’s Minister for Aboriginal Affairs and Reconciliation is expected to be in a position to properly consider the application later this month.

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Tue, 16 Jan 2018 08:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190052/argonaut-resources-director-exercises-in-the-money-options-190052.html
<![CDATA[News - Argonaut Resources shares continue to run, more news flow from Torrens Project expected ]]> https://www.proactiveinvestors.com.au/companies/news/188696/argonaut-resources-shares-continue-to-run-more-news-flow-from-torrens-project-expected-188696.html Argonaut Resources NL (ASX:ARE) shares are up more than 300% this year and the trend is well-positioned to continue as news flow is expected to continue.

The Torrens Copper Project in South Australia has been a catalyst for the share price, which reached a 2017 high of $0.034 this month.

An airborne gravity survey will be flown in January 2018 over the large-scale Torrens anomaly that has been likened to the nearby Olympic Dam deposit.

READ: Argonaut Resources receives government approval at Torrens Project

The company also expects the third of three approvals required for drilling at Torrens to be granted in January.

Argonaut is a 30% partner in the Torrens Joint Venture with Aeris Resources Ltd (ASX:AIS) holding 70%.

The company’s subsidiary, Kelaray Pty Ltd, is manager of the joint venture.

Footprint larger than Olympic Dam anomaly

Torrens is a coincident magnetic and gravity anomaly with a footprint considerably larger than that of Olympic Dam.

Previous drilling confirmed the existence of a major iron oxide copper-gold (IOCG) mineralising system beneath several hundred metres of sedimentary cover.

In the event of a discovery, Torrens has the scale to host a world class copper-gold deposit.

The joint venture has contracted a geophysical acquisition contractor to fly the high-resolution airborne survey.

The aim is to better define the extent of dense bodies of rock within the broader gravity anomaly, which may represent IOCG mineralisation.

Airborne gravity the preferred option

Airborne gravity is the preferred option due to its accuracy and preservation of the salt crust of Lake Torrens.

Lindsay Owler, chief executive officer, said: “The aerial gravity survey will allow us to better target copper mineralisation for drilling.

“It shows stakeholders that the joint venture is very keen to get underway with a major exploration program.

“It also demonstrates our commitment to minimising exploration impact on the environment.”

READ: Argonaut Resources wraps up placement to advance Torrens and Higginsville

Three approvals are required for drilling at Torrens and two of these have been granted.

The exploration program for environment protection and rehabilitation was approved last month.

It allows for exploration activities including aerial and ground gravity surveys, and permits the drilling of up to 70 deep diamond holes from the salt crust.

Native Title Access permitted

In April 2017 the Torrens Joint Venture was granted Native Title Access to enter and undertake exploration.

The joint venture has lodged an application under the South Australian Aboriginal Heritage Act seeking re-grant of an authorisation given in 2010 for a similar drilling program.

South Australia’s Minister for Aboriginal Affairs and Reconciliation will be in a position to properly consider the application in late January 2018.

Argonaut granted two adjacent licences

Argonaut has also been granted two exploration licences contiguous with the project.

The licences cover a confirmed IOCG target in an area known as Murdie and a second anomaly at West Lake Torrens.

The licences cover 1,015 square kilometres and are immediately south and east of the Torrens project.

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Thu, 14 Dec 2017 08:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188696/argonaut-resources-shares-continue-to-run-more-news-flow-from-torrens-project-expected-188696.html
<![CDATA[News - Argonaut Resources receives government approval at Torrens Project ]]> https://www.proactiveinvestors.com.au/companies/news/187871/argonaut-resources-receives-government-approval-at-torrens-project-187871.html Argonaut Resources NL (ASX:ARE) has received government approval for its proposed exploration activities at its Torrens Copper Project located in South Australia.

The approved application was regarding ongoing exploration activities including aerial and ground gravity surveys and diamond drilling.

This is the second of three approvals required to undertake a major drilling program at Torrens.

The third approval is expected in January 2018.

Approvals in sync with rising copper price

Lindsay Owler, CEO, said: “The approval of our environmental and operational plan is another major step towards the discovery of copper at Torrens.

“The project now has considerable momentum.

“Our access approvals are being granted at the same time as the copper market is staging an unambiguous recovery. The timing couldn’t be better.”

READ: Argonaut Resources shares run higher on Olympic Dam comparison

The Torrents Copper Project consists of three exploration licences, the primary licence is held in joint venture with Aeris Resources (ASX:AIS) who holds 70% alongside Argonaut’s 30% operating interest.

The Torrens anomaly is a coincident magnetic and gravity anomaly with a footprint considerably larger than that of Olympic Dam.

Previous drilling of the Torrens anomaly confirmed the existence of a major IOCG mineralising system beneath several hundred metres of sedimentary cover.

More drilling is required to intercept the modelled copper-gold mineralisation.

READ: Argonaut Resources wraps up placement to advance Torrens and Higginsville ]]>
Tue, 28 Nov 2017 16:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187871/argonaut-resources-receives-government-approval-at-torrens-project-187871.html
<![CDATA[News - Argonaut Resources wraps up placement to advance Torrens and Higginsville ]]> https://www.proactiveinvestors.com.au/companies/news/187790/argonaut-resources-wraps-up-placement-to-advance-torrens-and-higginsville-187790.html 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 ]]>
Mon, 27 Nov 2017 11:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187790/argonaut-resources-wraps-up-placement-to-advance-torrens-and-higginsville-187790.html
<![CDATA[News - Argonaut Resources’ drilling reveals potential for a gold deposit in the Eastern Goldfields ]]> https://www.proactiveinvestors.com.au/companies/news/187547/argonaut-resources-drilling-reveals-potential-for-a-gold-deposit-in-the-eastern-goldfields-187547.html Argonaut Resources NL’s (ASX:ARE) drilling has significantly increased the potential for a commercial gold deposit at its Eastern Goldfields joint venture in Higginsville, Western Australia.

Highlights from a program of 19 reverse circulation drill holes at two prospects include:

- Amorphous prospect: 11 metres at 2.76 g/t gold from 77 metres, including 6 metres at 4.62 g/t gold from 81 metres.

- Footes Find prospect: 4 metres at 5.02 g/t gold from 40 metres and 8 metres at 1.68 g/t gold from 30 metres.

Importantly, the drilling has increased the potential for a gold deposit at Amorphous by demonstrating improved continuity of gold grades along strike.

The Amorphous and Footes Find targets are located 5 kilometres along existing roads from an operating mill and presents an excellent opportunity for a meaningful, near-term exploration outcome.

Geologically, Argonaut’s prospect package sits within the Norseman-Wiluna Belt, a belt of ancient rocks endowed with gold and nickel that sits within the broader Yilgarn Craton.

It is worth noting that circa 70% of Australia’s historical gold production has come from the Yilgarn Craton and most of that from the Norseman-Wiluna Belt.

Argonaut’s goals are to explore for near-surface oxide gold in areas with historic shallow drilling results and to target deeper primary gold mineralisation at previously untested depths.

The company is now planning follow-up drilling to define the strike extents of the Amorphous and the Footes Find targets.

Joint venture terms

Argonaut has the right to earn an 80% interest in the Eastern Goldfields earn-in joint venture according to the following terms:

- 51% interest in the tenement package in exchange for completing $500,000 in exploration expenditure within two years of commencement; and

- a further 29% interest, for a total of 80%, for completing an additional $1,500,000 in exploration expenditure within a further three years.

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Tue, 21 Nov 2017 12:42:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187547/argonaut-resources-drilling-reveals-potential-for-a-gold-deposit-in-the-eastern-goldfields-187547.html
<![CDATA[News - Argonaut Resources NL commences drilling for gold ]]> https://www.proactiveinvestors.com.au/companies/news/185218/argonaut-resources-nl-commences-drilling-for-gold-185218.html Argonaut Resources NL (ASX:ARE) has commenced drilling on two gold prospects at its Higginsville Project located in the Eastern Goldfields of Western Australia.

The reverse circulation drilling program of 18-22 holes is targeting oxide and primary gold mineralisation at Amorphous and Footes Find prospects.

Historical drilling at the two projects from the early 1990s includes results of 8 metres at 2.07 g/t gold from 26 metres at Amorphous and 7 metres at 2.13 g/t gold at Footes Find.

READ: Argonaut Resources plans to drill

The strike length at the Amorphous prospect based on existing geochemistry and drilling is around 1 kilometre and the strike length of the Footes Find prospect is circa 700 metres.

A lack of deep, historical drilling means primary gold mineralisation is untested, leaving scope for a significant upgrade of the targets.

The two prospects are located 5 kilometres along existing roads from an operating mill.

Higginsville drilling program

The tenements that make-up the Higginsville project are in Western Australia’s Eastern Goldfields.

Drilling now underway will confirm deposit geometry by targeting down-plunge extensions of both oxide and primary gold mineralisation at Amorphous and test zones with potential for structural thickening.

The reverse circulation program will comprise 18 initial drill holes with a further four contingent holes to be sited on the basis of visual results.

Gold mineralisation at Amorphous and Footes Find is typically hosted in quartz veins.

Historical assays may be understated

The program will also seek to resolve discrepancies between different historical assay methods, where examples under-reported gold results compared to nearby fire-assay results.

Gold grades may be significantly upgraded by 2017 drilling if historical results are confirmed to be understated.

Argonaut shares performing strongly

Shares in Arognaut are up 85% year to date, currently trading at $0.013.

The strong trading in the company’s shares has been attributed to its Torrens Copper Project located in South Australia where similarities can be drawn to the world-renowned Olympic Dam mine.

READ: Does Argonaut have the next Olympic Dam?

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Mon, 09 Oct 2017 10:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185218/argonaut-resources-nl-commences-drilling-for-gold-185218.html
<![CDATA[News - Argonaut Resources planning to drill this week ]]> https://www.proactiveinvestors.com.au/companies/news/184471/argonaut-resources-planning-to-drill-this-week-184471.html Argonaut Resources (ASX:ARE) plans to commence initial drilling on two gold prospects at its Higginsville Project located in Western Australia this Friday 29 September 2017.

The program of 18-22 reverse circulation drill holes will target oxide and primary gold mineralisation at Amorphous and Footes Find prospects.

Historical drilling at both prospects previously targeted near-surface oxide mineralisation and averaged 65 metres in depth.

This lack of deep, historical drilling means primary gold mineralisation is untested, leaving scope for a significant upgrade of the targets.

The prospects are located 5 kilometres along existing roads from an operating mill.

The Amorphous and Footes Find prospects

The strike length at the Amorphous prospect based on existing geochemistry and drilling is around 1 kilometre and the strike length of the Footes Find prospect is circa 700 metres.

Historical drilling highlights from the early 1990s includes:

- Amorphous: 8 metres at 2.07 g/t gold from 26 metres;
- Amorphous: 9 metres at 1.21 g/t gold from 71 metres;
- Amorphous: 5 metres at 4.03 g/t gold from 21 metres;
- Amorphous: 8 metres at 3.27 g/t gold from 17 metres;
- Footes Find: 7 metres at 2.13 g/t gold from 28 metres;

Eastern Goldfields address

The tenements that make-up the Higginsville Project are in Western Australia’s renowned Eastern Goldfields.

The Higginsville Project is located south of Kambalda, west of Lake Cowan and adjacent to Higginsville where over two million ounces of gold has been historically defined.

Gold discoveries at Baloo and Monsoon by S2 Resources are located immediately east of the Higginsville Project at Lake Cowen.

Higginsville is held in a joint venture agreement and Argonaut has the opportunity to earn up to 80% over two phases.

Phase one allows Argonaut to earn a 51% interest in the tenement package in exchange for completing $500,000 in exploration expenditure within two years of commencement.

Torrens Copper Project remains the crown jewel

Argonaut has an international exploration focus spread across multiple commodities.

Its project portfolio includes:

- Torrens Copper Project, South Australia;
- Higginsville Gold Project, Western Australia;
- Lumwana West Copper-Cobalt Project, Zambia;
- Crescent Lake Lithium Project, Canada; and
- Kroombit Zinc Copper Project, Queensland.

The Torrens Copper Project hosts a very large iron-oxide, copper, gold (IOCG) target and is the company’s primary focus.

The sheer size of the anomaly is impressive given it is larger than the nearby multi-billion-dollar Olympic Dam mine, one of the largest copper deposits in the world.

In the event of discovery, there is scope for a very large tonnage deposit and successive discoveries.

Final access approvals are nearing completion and expected this year, which will allow for drilling to commence soon after.

READ: Does Argonaut have the next Olympic Dam? ]]>
Mon, 25 Sep 2017 12:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184471/argonaut-resources-planning-to-drill-this-week-184471.html
<![CDATA[News - Argonaut Resources shares run higher on Olympic Dam comparison ]]> https://www.proactiveinvestors.com.au/companies/news/184345/argonaut-resources-shares-run-higher-on-olympic-dam-comparison-184345.html Argonaut Resources (ASX:ARE) shares are trading 55% higher over the past month as interest from investors continues to build around the Torrens Copper Project located in South Australia.

The project hosts a very large iron-oxide, copper, gold (IOCG) target and is the company’s primary focus.

The sheer size of the anomaly is impressive given it is larger than the nearby multi-billion-dollar Olympic Dam mine, one of the largest copper deposits in the world.

In the event of discovery, there is scope for a very large tonnage deposit and successive discoveries.

Final access approvals are nearing completion and expected this year, which will allow for drilling to commence soon after.

Torrens Copper Project

The project consists of three exploration licences, the primary licence is held in joint venture with Aeris Resources (ASX:AIS) who holds 70% alongside Argonaut’s 30% operating interest.

The confirmed IOCG target consists of a very large 130 square kilometre broad, intense geophysical anomaly that shares similarities to Olympic Dam.

Within this larger anomaly, there are 10 individual target zones, which creates multiple discovery opportunities.

Each target is large enough to host a world-class deposit bigger than the nearby US$1 billion Carrapateena mine under development.

The project lies within a prominent geological address in South Australia that hosts major IOCG deposits including Olympic Dam, Carrapateena and Prominent Hill.

The right time for a copper discovery

With the copper price recovering more than 50% from its 2016 low, the commodity is now thought to be in a sustained upswing.

The copper market is seen to be in a structural deficit with demand growth exceeding new supply.

The ongoing demand growth is being supported by urbanisation trends such as the fact that electric vehicles require much more copper than conventional cars.

Project portfolio

Argonaut has an international exploration focus spread across multiple commodities.

Its project portfolio includes:

- Torrens Copper Project, South Australia;
- Higginsville Gold Project, Western Australia;
- Lumwana West Copper-Cobalt Project, Zambia;
- Crescent Lake Lithium Project, Canada; and
- Kroombit Zinc Copper Project, Queensland.

Upcoming events

Upcoming potential catalysts for Argonaut include:

- Sept-Oct 2017: Drilling at Higginsville Gold Project;
- Dec 2017: Final access approvals expected for Torrens Copper Project;
- Dec 2017: Announcement of exploration program scope considering a 30 hole program over 16-18 months;
- Dec 2017: Finalisation of exploration program funding; and
- Jan 2018: Drilling expected to commence at Torrens.

While Argonaut is the operator of the joint venture, any expenditure will be shared pro-rata.

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Thu, 21 Sep 2017 14:25:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184345/argonaut-resources-shares-run-higher-on-olympic-dam-comparison-184345.html
<![CDATA[News - Argonaut Resources gains new substantial shareholder ]]> https://www.proactiveinvestors.com.au/companies/news/182419/argonaut-resources-gains-new-substantial-shareholder-182419.html Argonaut Resources NL (ASX:ARE) has received a notice of initial substantial holder from Cleland Projects Pty Ltd and Mr Adam Lienert with a holding of 71.6 million shares, for a 6.31% stake.

Argonaut recently completed a placement raising $1.4 million, with the new funds to be allocated to the company's exploration projects, in particular the Higginsville and Torrens projects.

The company received applications totalling over $550,000 for its share purchase plan.

Torrens (Argonaut 30%, Aeris Resources 70%) is located in South Australia and is a large iron-oxide, copper, gold (IOCG) project.

With the native title hurdle cleared, drilling is expected to proceed later in 2017.

Higginsville is located in Western Australia, and Argonaut recently signed a definitive earn-in agreement for a package of 14 tenements.

The project is prospective for gold with historical drilling delivering: 8 metres at 2.07g/t gold from 26 metres; 5 metres at 4.03g/t gold from 21 metres; and 8 metres at 3.27g/t gold from 17 metres.

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Tue, 15 Aug 2017 09:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/182419/argonaut-resources-gains-new-substantial-shareholder-182419.html
<![CDATA[News - Argonaut Resources closes SPP oversubscribed ]]> https://www.proactiveinvestors.com.au/companies/news/181753/argonaut-resources-closes-spp-oversubscribed-181753.html Argonaut Resources (ASX:ARE) has received applications for its recently closed share purchase plan (SPP) totalling over $550,000.

The SPP will see shares issued at $0.006 and due to the strong demand, directors will now assess the scale-back of applications.

The funds raised from the SPP will be used to complement the funds raised from the placement in advancing the company’s exploration projects, in particular, Argonaut’s interest in the Higginsville and Torrens projects.

Lindsay Owler, managing director, commented: “We are delighted with the overwhelming interest received for the SPP and we wish to thank all those shareholders who participated in the SPP for their continuing support of the company.

“The over-subscription of the SPP is exceptional and we look forward to being able to advance both the Higginsville and Torrens projects and update shareholders with further results.”

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Tue, 01 Aug 2017 15:35:00 +1000 https://www.proactiveinvestors.com.au/companies/news/181753/argonaut-resources-closes-spp-oversubscribed-181753.html
<![CDATA[News - Argonaut Resources opens share purchase plan today ]]> https://www.proactiveinvestors.com.au/companies/news/180950/argonaut-resources-opens-share-purchase-plan-today-180950.html Argonaut Resources (ASX:ARE) has today opened a share purchase plan (SPP) to its shareholders offering shares priced at $0.006.

The SPP follows the recently completed $1.4 million placement and the SPP will be open until 28 July 2017.

The proposed SPP timetable is as follows:

Offer opens: 17 July 2017;
Offer closes: 28 July 2017;
Issue of new shares: 7 August 2017; and
Quotation on ASX of new shares: 8 August 2017.

The funds raised from the SPP will be used to complement the funds raised from the placement in advancing the company’s exploration projects, in particular, Argonaut’s interest in the Higginsville and Torrens projects.

Reverse circulation drilling will be undertaken at the Amorphous and Footes Find gold prospects within the Higginsville project located in Western Australia.

The project is prospective for gold with historical drilling delivering:

- 8 metres at 2.07g/t gold from 26 metres;
- 5 metres at 4.03g/t gold from 21 metres; and
- 8 metres at 3.27g/t gold from 17 metres.

Activities on the Torrens project located in South Australia will include government permitting, exploration planning and airborne geophysics.

Argonaut shares are currently trading at $0.007.

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Mon, 17 Jul 2017 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180950/argonaut-resources-opens-share-purchase-plan-today-180950.html
<![CDATA[News - Argonaut Resources to follow placement with share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/news/180740/argonaut-resources-to-follow-placement-with-share-purchase-plan-180740.html Argonaut Resources NL (ASX:ARE) will follow its recently completed $1.4 million placement with a share purchase plan, which is set to open 17 July 2017.

The share purchase plan (SPP) will offer shares to eligible shareholders at an issue price of $0.006.

The funds raised from the SPP will be used to compliment the funds raised from the placement in advancing the company’s exploration projects, in particular, Argonaut’s interest in the Higginsville and Torrens projects.

Torrens (Argonaut 30%, Aeris Resources 70%) is located in South Australia and is a large iron-oxide, copper, gold (IOCG) project.

With the native title hurdle cleared, drilling is expected to proceed later in 2017.

Higginsville is located in Western Australia, and Argonaut recently signed a definitive earn-in agreement for a package of 14 tenements.

The project is prospective for gold with historical drilling delivering:

- 8 metres at 2.07g/t gold from 26 metres;
- 5 metres at 4.03g/t gold from 21 metres; and
- 8 metres at 3.27g/t gold from 17 metres.


SPP timetable

The proposed SPP timetable is as follows:

Record date: 11 July 2017;
Offer opens: 17 July 2017; and
Offer closes: 28 July 2017.

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Wed, 12 Jul 2017 14:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180740/argonaut-resources-to-follow-placement-with-share-purchase-plan-180740.html
<![CDATA[News - Argonaut Resources shares in demand through oversubscribed raising ]]> https://www.proactiveinvestors.com.au/companies/news/180015/argonaut-resources-shares-in-demand-through-oversubscribed-raising-180015.html Argonaut Resources (ASX:ARE) will raise circa $1.4 million in an oversubscribed placement priced at $0.0055 per share.

For every two shares free unlisted option will be issued with an exercise price of $0.0055 each.

The funds will be allocated to advancing Argonaut's Australian projects, with a focus on Higginsville and Torrens.

Lindsay Owler, managing director, commented:

"We are delighted with the interest received in the placement and being able to close the offer early, and being oversubscribed is a great vote of confidence in the company’s portfolio of exploration projects."


Key projects

Torrens (Argonaut 30%, Aeris Resources 70%) is located in South Australia, and is a large IOCG.

With the native title hurdle cleared, drilling is expected to proceed later in 2017.

Higginsville is located in Western Australia, and Argonaut recently signed a definitive earn-in agreement for a package of 14 tenements.

The project is prospective for gold with historical drilling delivering: 8 metres at 2.07g/t gold from 26 metres; 5 metres at 4.03g/t gold from 21 metres; and 8 metres at 3.27g/t gold from 17 metres.

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Thu, 29 Jun 2017 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/180015/argonaut-resources-shares-in-demand-through-oversubscribed-raising-180015.html
<![CDATA[News - Argonaut Resources NL granted long awaited native title authority ]]> https://www.proactiveinvestors.com.au/companies/news/175806/argonaut-resources-nl-granted-long-awaited-native-title-authority-175806.html Argonaut Resources NL (ASX:ARE) has been granted native title authority for the conduct of exploration activities over the Torrens anomaly located in South Australia.

The Torrens iron oxide copper gold anomaly within the Torrens Project is a coincident magnetic and gravity anomaly with a footprint larger than that of Olympic Dam.

The South Australian Environment, Resources and Development Court has granted native title authority to access and undertake exploration within the area of EL 5614.

The granting of this authority is the most important step towards recommencement of drilling at the Torrens Project.

Lindsay Owler, CEO, commented: “The grant of this authority is the most significant milestone in the 17 year quest to access the Torrens anomaly.

“The joint venture has now begun planning for a drilling program, with the expectation that two remaining government approvals will be reissued as a matter of course in accordance with required procedures.”


The Torrens joint venture

The Torrens joint venture is between Argonaut Resources NL (30%) and Aeris Resources (ASX:AIS) (70%) and relates to the Torrens Project, EL5614.

The Torrens Project is located near the eastern margin of South Australia’s Gawler Craton, within 50 kilometres of Oz Minerals’ (ASX:OZL) Carrapateena copper-gold deposit and 75 kilometres from BHP Billiton’s (ASX:BHP) Olympic Dam mine.

In its role as manager of the joint venture, Argonaut is working to secure access to the tenement for the purpose of a planned drilling program targeting areas which have been geophysically modelled as having the physical properties of large iron oxide-copper-gold deposits.


Next steps: exploration access

The Torrens joint venture is also seeking the reissue of two government approvals to finalise access provisions for a drilling program at Torrens.

Both of these approvals were previously held by the joint venture for the purpose of an equivalent drilling program.

The joint venture has a reasonable expectation that these approvals will be reissued.


Price action

Argonaut shares jumped as high as 50% in intra-day trading peaking at $0.012 during the morning session on the ASX.

Currently trading at $0.011 the stock is up 20% over the past month.

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Mon, 03 Apr 2017 14:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/175806/argonaut-resources-nl-granted-long-awaited-native-title-authority-175806.html
<![CDATA[News - Argonaut Resources NL in an ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/175720/argonaut-resources-nl-in-an-asx-trading-halt-175720.html Argonaut Resources NL has been granted a trading halt by the ASX, with its shares placed in pre-open.

Argonaut requested the halt pending the outcome of an application by the Torrens Joint Venture for a summary determination of native title authority by the South Australian ERD Court.

The halt will remain in place until the opening of trade on Tuesday 4th April 2017, or earlier if an announcement is made to the market.

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Fri, 31 Mar 2017 09:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175720/argonaut-resources-nl-in-an-asx-trading-halt-175720.html
<![CDATA[News - Argonaut Resources NL plans to drill for cobalt in Zambia ]]> https://www.proactiveinvestors.com.au/companies/news/175497/argonaut-resources-nl-plans-to-drill-for-cobalt-in-zambia-175497.html Argonaut Resources NL (ASX: ARE) is planning to undertake a minimum 3000 metres of cobalt focussed drilling at the Nyungu Copper-Cobalt deposit in Zambia.

The Nyungu copper-cobalt deposit is part of the Lumwana West project.

Argonaut has now outlined the March 2017 Exploration Target which is estimated to JORC 2012 standards, and includes:

- Copper: 130 million tonnes to 180 million tonnes at 0.45% copper to 0.65% copper for a contained metal range of 580,000 to 1,150,000 tonnes; and

- Cobalt: 15 million tonnes to 20 million tonnes at 0.08% cobalt to 0.12% cobalt for a contained metal range of 12,000 tonnes to 24,000 tonnes.


Cobalt in Africa

The Nyungu deposit is located 65 kilometres south of the Democratic Republic of Congo border.

Zambia remains a considerably safer and politically stable jurisdiction that benefits from strong mining law and courts.

The potential for Argonaut is that cobalt occurs as an accessory mineral in many copper deposits located within the Central African Copperbelt, where its interests are positioned.


Lumwana West

In February 2017, Argonaut and Antofagasta reached a preliminary and non-binding agreement of terms for the re-acquisition by Argonaut of a 25% beneficial interest in the Lumwana West project.

Antofagasta’s interest in the project was obtained under an earn-in style option agreement that ran from April 2014 to October 2015.

Antofagasta spent $3,900,000 on regional exploration at Lumwana West during this period.

The re-acquisition by Argonaut of the 25% interest is subject to the preparation and execution of definitive documentation.

In the event this transaction is completed, Argonaut will hold 90% of the Lumwana West prospecting permit via subsidiary companies.


Analysis

The current cobalt prices have potential to transform the economics of Nyungu.

A drilling program would be highly anticipated by investors.

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Tue, 28 Mar 2017 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175497/argonaut-resources-nl-plans-to-drill-for-cobalt-in-zambia-175497.html
<![CDATA[News - Argonaut Resources NL looks to increase cobalt exposure ]]> https://www.proactiveinvestors.com.au/companies/news/173959/argonaut-resources-nl-looks-to-increase-cobalt-exposure-173959.html Argonaut Resources NL (ASX:ARE) has agreed to terms to increase its interest to 90% in the  Nyungu copper-cobalt deposit of the Lumwana West project located in north-western Zambia.

The company reached preliminary and non-binding terms to acquire a 25% interest from a subsidiary of Antofagasta plc (LON:ANTO).

Argonaut intercepted strong cobalt mineralisation of up to 0.56% cobalt from its first drill hole into the Nyungu deposit during 2011.

Current cobalt prices have potential to transform the economics of the Nyungu deposit.

In exchange for Antofagasta’s interest, Argonaut has agreed to make milestone payments and grant a net smelter royalty.


Nyungu copper-cobalt deposit

Nyungu has an estimated Exploration Target to host between 130 and 180 million tonnes at a grade range of 0.45 to 0.65% copper.

Cobalt occurs as an accessory mineral in many copper deposits located within the Central African Copperbelt.

At Nyungu, cobalt drill intercepts occur over 800 metres of strike length and cobalt mineralisation is interpreted to occur over a strike length of up to 1,700 metres.

Historical cobalt intercepts include 81.5 metres at 0.12% cobalt from 183.4 metres including 23 metres at 0.21% cobalt from 218.5 metres.

The opportunity exists to drill further and better cobalt intercepts and to increase the tonnage and grade of cobalt mineralisation defined to date.

This is mainly due to the fact that drilling specifically targeted copper mineralisation, not cobalt.


Acquisition details

In exchange for Antofagasta’s 25% beneficial interest in the Lumwana West project, Argonaut will make the following commitments:

- Pay Antofagasta US$1,000,000 on the commencement of a feasibility study; and
- On development decision: pay Antofagasta US$3,000,000 and grant Antofagasta a 1.5% net smelter royalty on production.

Additionally Argonaut will have the right to buy the net smelter royalty from Antofagasta for US$4,000,000 and Argonaut will pay Antofagasta 25% of any sale proceeds in the event the project is divested.

The acquisition is contingent on the preparation and execution of definitive documentation.


Analysis

Importantly, cobalt has not been the focus of the Nyungu copper-cobalt deposit previously, which presents the potential opportunity for Argonaut.

The Nyungu deposits represent two continuous, well-defined zones of copper-cobalt mineralisation.

Previous geological consultants that have worked on Nyungu have said the deposits display good geological and mineralisation continuity from information provided.

Further drilling at Nyungu has the potential to lead to a JORC resource estimate elevating Argonaut to being part of a coveted class of ASX resource companies with a JORC cobalt asset.

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Wed, 01 Mar 2017 10:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/173959/argonaut-resources-nl-looks-to-increase-cobalt-exposure-173959.html
<![CDATA[News - Argonaut Resources NL secures additional funds ]]> https://www.proactiveinvestors.com.au/companies/news/172885/argonaut-resources-nl-secures-additional-funds-172885.html Argonaut Resources NL (ASX:ARE) has completed a private share placement of 110,000,000 shares to sophisticated and professional investors at an average price of $0.0048 per share, raising a total of A$528,000 before costs.

Earlier in the week Argonaut expanded its portfolio after signing a definitive earn-in agreement for a package of 14 tenements in the Higginsville area of Western Australia.

Recent discoveries near the project include Baloo and Monsoon (Polar Bear) by S2 Resources (ASX:S2R).

The tenements are prospective for gold and nickel.

Argonaut also has lithium assets in Canada.

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Thu, 09 Feb 2017 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172885/argonaut-resources-nl-secures-additional-funds-172885.html
<![CDATA[News - Argonaut Resources NL secures gold-nickel footprint in key Australian district ]]> https://www.proactiveinvestors.com.au/companies/news/172735/argonaut-resources-nl-secures-gold-nickel-footprint-in-key-australian-district-172735.html Argonaut Resources NL (ASX:ARE) has expanded its portfolio after signing a definitive earn-in agreement for a package of 14 tenements in the Higginsville area of Western Australia.

Recent discoveries near the project include Baloo and Monsoon (Polar Bear) by S2 Resources (ASX:S2R).

The tenements are prospective for gold and nickel.

The area can be considered highly prospective, with 13 of these tenements in the Eastern Gold Fields within the Norseman-Wiluna Belt.

The Norseman-Wiluna Belt is a belt of ancient rocks endowed with gold and nickel that sits within the broader Yilgarn Craton, where around 70% of Australia's historical gold production has been sourced.


Earn-in details

The earn-in between Argonaut and Loded Dog Prospecting Pty Ltd is in two phases. Argonaut may earn:

- 51% for $500,000 in exploration expenditure within two years; and
- a further 29% interest, for a total of 80%, for an additional $1,500,000 in exploration expenditure within a further three years.

Cash reimbursements totalling $250,000 are payable by Argonaut progressively.


Analysis

Argonaut has secured a footprint in one of Australia's best mining districts.

The company already has gold shallow oxide targets, with key infrastructure nearby including existing processing facilities just 5 kilometres away.

Historic results include: 8 metres at 2.07g/t gold from 26 metres.

Nickel targets are located south of Higginsville near the west shore of Lake Cowan.

The main target is known as Green Bananas, which features a nickel geochemistry anomaly with auger samples returning between 0.1 and 0.2% nickel.

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Tue, 07 Feb 2017 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172735/argonaut-resources-nl-secures-gold-nickel-footprint-in-key-australian-district-172735.html
<![CDATA[News - Argonaut Resources NL gets ready to raise ]]> https://www.proactiveinvestors.com.au/companies/news/172731/argonaut-resources-nl-gets-ready-to-raise-172731.html Argonaut Resources NL (ASX:ARE) has been granted a trading halt by the ASX this morning, with its shares placed in pre-open.

Argonaut requested the halt pending details of a capital raising.

The halt will remain in place until the opening of trade on Thursday 9th February 2017, or earlier if an announcement is made to the market.

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Tue, 07 Feb 2017 08:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172731/argonaut-resources-nl-gets-ready-to-raise-172731.html
<![CDATA[News - Argonaut Resources NL maps possible pegmatites at Crescent Lake ]]> https://www.proactiveinvestors.com.au/companies/news/170644/argonaut-resources-nl-maps-possible-pegmatites-at-crescent-lake-170644.html Argonaut Resources NL (ASX:ARE) has identified 39 possible pegmatite occurrences through a detailed mapping program at the Crescent Lake lithium project in Ontario, Canada.

Argonaut is targeting hard-rock lithium deposits at Crescent Lake with a view to defining a lithium reserve for mining.

Hard-rock lithium deposits generally involve the mineral spodumene which is hosted within thick, coarse-graining veins called pegmatites.

Of the 39 possible occurrences, three are positively identified as spodumene bearing and 24 have a coarse-grained texture diagnostic of pegmatites.

Argonaut holds an option agreement to acquire 100% of the Crescent Lake claims - the expiry of the option has now been extended until 28 February, 2017.

Argonaut will now assess the assays from the mapping program to conclude whether it exercises the option.


Background

Argonaut is focused on fast-tracking the development of its three lithium assets.

The company currently has rights to two Canadian projects – Crescent Lake and Greenbush Lake.

It also owns 100% of the Lake Blanche lithium target in South Australia.


Crescent Lake lithium project

Crescent Lake is located 250 kilometres from Thunder Bay in Ontario, Canada.

During March 2016, Argonaut acquired an option to acquire the Falcon Lake and Zigzag blocks within the Crescent Lake Lithium Project.

Argonaut later pegged additional claims in the area between Falcon Lake and Zigzag. These 100% held claims cover prospective, underexplored areas.

In July, Argonaut completed a six-hole program of diamond core drilling at the Falcon Lake West deposit.

The program targeted two pegmatite units, one of which outcrops boldly. Highlights included 24.4 metres at 1.48% lithium oxide from 10.9 metres.


Assays pending from mapping

In November, Argonaut completed a detailed mapping program across areas previously identified as prospective for pegmatite occurrences.

The survey team identified 39 possible pegmatites. The newly mapped occurrences were predominantly located in the areas of known occurrences.

Of the 39 occurrences:

- 3 are positively identified as spodumene bearing;
- 24 have a coarse-grained texture diagnostic of pegmatites;
- 4 are not in-situ;
- Sizes ranged from 20 metre outcrop of unknown thickness to 10 centimetre thick vein; and
- 34 occurrences are located on optioned claims and five occurrences are on claims held 100% by Argonaut’s subsidiary, Sunrise Canada Inc.

The most promising occurrence mapped is exposed over 20 metres. This occurrence is located in the Falcon Lake area and is a newly discovered pegmatite.

This pegmatite may contain spodumene and may have a significant strike length and thickness.

Samples collected during the program have been submitted for assay


Option extension

The original option agreement required Argonaut to complete its assessment of the project by 30 November 2016 at which time Argonaut could elect to purchase 100% of the claims for CAD$200,000.

A variation and extension to the option agreement has now been executed which provided for the following amended terms:

- Canadian Orebodies granted Argonaut an extension to the assessment period under the option agreement from 30 November 2016 to 28 February 2017;
- In exchange for the grant of this extension, Argonaut made a cash payment of CAD$50,000 and issued A$70,000 worth of ordinary shares; and
- may make a final purchase payment of CAD$150,000 on or before 28 February 2017, at the conclusion of the assessment.

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Mon, 19 Dec 2016 12:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/170644/argonaut-resources-nl-maps-possible-pegmatites-at-crescent-lake-170644.html
<![CDATA[News - Argonaut Resources NL intersects wide high grade lithium in Canada ]]> https://www.proactiveinvestors.com.au/companies/news/166653/argonaut-resources-nl-intersects-wide-high-grade-lithium-in-canada-71278.html Argonaut Resources NL (ASX:ARE) has intersected grades of up to 1.95% lithium oxide and widths of up to 24.4 metres in its latest drilling results from the Crescent Lake project in Ontario, Canada.

Final results from drilling at the Falcon Lake West deposit feature potentially economic intercepts from thick, spodumene bearing pegmatites.

Highlights include 24.4 metres at 1.45% lithium oxide.

The assays are from a six-hole program of diamond core drilling at the Falcon Lake West deposit completed in July targeting two pegmatite units.

A program of mapping to identify additional pegmatites is planned to commence in October.


Background

Argonaut is focused on fast-tracking the development of its three lithium assets.

The company currently has rights to two Canadian projects – Crescent Lake and Greenbush Lake.

It also owns 100% of the Lake Blanche lithium target in South Australia.


Drill results

The Crescent Lake pegmatite swarm is hosted within an east-west oriented greenstone belt.

Highlights from final analysis of the 2016 drilling program include:

- 24.4 metres at 1.48% lithium oxide from 10.9 metres including 9.0 metres at 1.95% lithium oxide; and
- 11 metres at 1.05% lithium oxide from 40.2 metres including 6 metres at 1.26% lithium oxide.

This follows assays from the first batch of samples, which featured an intercept of 21.7 metres at 1.09% lithium from 48 metres including 7.9 metres at 1.31% lithium.

This program confirmed that grades and thicknesses in the Falcon Lake area are potentially economic.

The area is well located, close to road and rail with nearby gas and electricity infrastructure.


Next steps

Argonaut has outlined regional target zones that warrant detailed exploration for undiscovered pegmatites.

The company will map these target zones with the aim of adding to the inventory of known lithium mineralisation at Crescent Lake.

Contingent drilling to define pegmatite thicknesses and grades is intended to follow this mapping program.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 29 Sep 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/166653/argonaut-resources-nl-intersects-wide-high-grade-lithium-in-canada-71278.html
<![CDATA[News - Argonaut Resources NL: Torrens access impediment removed by native title judgement ]]> https://www.proactiveinvestors.com.au/companies/news/165286/argonaut-resources-nl-torrens-access-impediment-removed-by-native-title-judgement-70384.html Argonaut Resources NL (ASX:ARE) has outlined that applications for native title over Lake Torrens by three native title groups have been dismissed by the Federal Court of Australia.

Lindsay Owler, CEO for Argonaut, commented:

“Whilst Argonaut has for years sought a pathway through the legal quagmire at Lake Torrens, it has never advocated the denial of rights to parties with longheld connection to the area.

"The emotional investment by aboriginal witnesses is substantial and Argonaut empathises with those concerned.

“To say this judgement simplifies the native title situation is an understatement.”

The Torrens Joint Venture is between Argonaut Resources NL (30%) and Aeris Resources Ltd (ASX:AIS) which is exploring for iron oxide-copper-gold systems in the highly prospective Stuart Shelf region of South Australia.

The Torrens Project is located near the eastern margin of South Australia’s Gawler Craton (Stuart Shelf), within 50 kilometres of Oz Minerals’ (ASX:OZL) Carrapateena copper-gold deposit and 75 kilometres from BHP Billiton’s (ASX:BHP) Olympic Dam mine.


Highlights

- A claim by the group that has prevented access to the Torrens anomaly was refused.

- Applications for native title over Lake Torrens by two other groups were also dismissed.

- An application for authorisation to drill the Torrens anomaly will now be made in the absence of registered native title claims or granted native title rights.

- The Torrens anomaly is confirmed to be the geophysical response to a very large iron oxide copper-gold (IOCG) system in the area of the Olympic Dam and Carrapateena mineral deposits.


Torrens details

The Torrens anomaly is a coincident magnetic and gravity anomaly with a footprint larger than that of Olympic Dam.

The anomaly is located over the Torrens Hinge Zone, a continent-scale zone of crustal weakness that appears to have been a conduit for mineralising fluids from the Earth’s mantle.

Drilling of the Torrens anomaly by Western Mining Corporation in the late 1970s and by the Torrens Joint Venture in 2007 and 2008 confirmed the existence of a major iron oxide copper-gold mineralising system beneath several hundred metres of sedimentary cover.

More drilling is required to vector-in on the modelled copper-gold mineralisation.

In the event of a discovery, Torrens has the potential to host a world-class copper-gold deposit.


The way forward

The Torrens Joint Venture can now make an application for exploration approval in the absence of both registered native title claims and granted native title rights in the proposed exploration areas.

This change significantly simplifies the approval process, particularly in light of the Joint Venture’s previously approved environmental and operations proposals.

In addition, the Joint Venture must re-establish certain expired government approvals.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Aug 2016 11:10:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165286/argonaut-resources-nl-torrens-access-impediment-removed-by-native-title-judgement-70384.html
<![CDATA[News - Argonaut Resources NL in an ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/165285/argonaut-resources-nl-in-an-asx-trading-halt-70325.html Argonaut Resources NL (ASX:ARE) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Argonaut requested the halt pending a judgement of the Lake Torrens Overlap Proceeding concerning the three native title applications over Lake Torrens.

The halt will remain in place until the opening of trade on Thursday 11th August 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Tue, 09 Aug 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/165285/argonaut-resources-nl-in-an-asx-trading-halt-70325.html
<![CDATA[News - Argonaut Resources NL finds lithium in first drill hole at Crescent Lake ]]> https://www.proactiveinvestors.com.au/companies/news/148994/argonaut-resources-nl-finds-lithium-in-first-drill-hole-at-crescent-lake-70069.html Argonaut Resources NL (ASX:ARE) has received initial results from drilling at the Falcon Lake West lithium deposit, which is part of the Crescent Lake project in Ontario, Canada.

Assays from the first batch of samples feature an intercept of 21.7 metres at 1.09% lithium from 48 metres including 7.9 metres at 1.31% lithium.

These initial laboratory results confirm the deposit’s lithium grades indicated by historical drill results.

Further results will be reported within two weeks.

Preparations are underway for follow-up exploration in the Crescent Lake area.


Background

Argonaut is focused on fast-tracking the development of its three lithium assets.

The company currently has rights to two Canadian projects – Crescent Lake and Greenbush Lake. It also owns 100% of the Lake Blanche lithium target in South Australia.


Crescent Lake

Crescent Lake is located 250 kilometres from Thunder Bay in Ontario, Canada.

Argonaut has completed a six-hole program of diamond core drilling at the Falcon Lake West deposit within the Crescent Lake project.

The program targeted two pegmatite units, one of which outcrops boldly with clear evidence of spodumene mineralisation.

The first hole has confirmed the presence of targeted spodumene bearing pegmatites which builds on historical drilling results of:

- 8.1 metres at 1.48% lithium from 2.7 metres (Falcon Lake);
- 10.5 metres at 1.15% lithium from 34.5 metres (Falcon Lake);
- 14 metres at 0.99% lithium from 69.3 metres (Falcon Lake);
- 7 metres at 1.07% lithium from 55.3 metres (Falcon Lake);
- 11 metres at 1.10% lithium from 39.4 metres (Falcon Lake); and
- 6.1 metres at 1.08% lithium from 12.4 metres (Zigzag).


Next steps

Argonaut engaged an international structural geology expert to consider the spodumene pegmatites at Crescent Lake.

The resultant report has outlined two zones that warrant detailed exploration for undiscovered pegmatites.

Argonaut is preparing to investigate these target zones with the aim of adding to the inventory of known lithium mineralisation at Crescent Lake.

Contingent drilling to define pegmatite thicknesses and grades is intended to follow this near-term program.


Analysis

Assays from the first hole confirm lithium mineralisation in thick spodumene-bearing pegmatites.

Argonaut is leveraged to ongoing lithium exploration success as it awaits further assays results from the remaining five holes, expected in two weeks.

Argonaut is continuing its successful transformation as a lithium explorer with three projects now able to produce lithium related news flow.

Argonaut shares are up 225% year to date trading at $0.013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 27 Jul 2016 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148994/argonaut-resources-nl-finds-lithium-in-first-drill-hole-at-crescent-lake-70069.html
<![CDATA[News - Argonaut Resources NL intersects thick spodumene pegmatites at Crescent Lake ]]> https://www.proactiveinvestors.com.au/companies/news/148992/argonaut-resources-nl-intersects-thick-spodumene-pegmatites-at-crescent-lake-69731.html Argonaut Resources NL (ASX:ARE) has intersected two adjacent spodumene bearing pegmatites in its initial six hole drill program at the Crescent Lake project in Canada.

The two pegmatites had thicknesses of up to 24 metres and 11 metres as visually inspected in the drill core.

Samples from the drilling will now be submitted for analysis with results expected in three weeks.

These results build on historical drilling in the same area which intersected mineralisation including 8.1 metres at 1.48% lithium and 10.5 metres at 1.15% lithium.

Visual assessment of mineralisation and thickness provides encouragement for further exploration.


Background

Argonaut is focused on fast-tracking the development of its three lithium assets.

The company currently has rights to two Canadian projects – Crescent Lake and Greenbush Lake. It also owns 100% of the Lake Blanche lithium target in South Australia.


Crescent Lake drilling

Crescent Lake is located 250 kilometres from Thunder Bay in Ontario, Canada.

Argonaut has completed a six-hole program of diamond core drilling at the Falcon Lake West deposit within the Crescent Lake project.

The program targeted two pegmatite units, one of which outcrops boldly with clear evidence of spodumene mineralisation.

Drilling has confirmed the presence of the two targeted spodumene bearing pegmatites.

Lab analysis results expected in three weeks will determine the grade of lithium mineralisation intersected.


Analysis

Visual analysis of the drill core has confirmed that intense spodumene mineralisation has been intersected.

Argonaut is leveraged to lithium exploration success as it awaits assays results, expected in three weeks.

Argonaut is continuing its successful transformation as a lithium explorer with three projects now able to produce lithium related news flow.

Argonaut shares are up 275% year to date trading at $0.015.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Jul 2016 13:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148992/argonaut-resources-nl-intersects-thick-spodumene-pegmatites-at-crescent-lake-69731.html
<![CDATA[News - Argonaut Resources NL adds new claims to lithium project, Ontario ]]> https://www.proactiveinvestors.com.au/companies/news/148990/argonaut-resources-nl-adds-new-claims-to-lithium-project-ontario--69116.html Argonaut Resources NL (ASX:ARE) has been granted a 100% interest in 22 mining claims in the Crescent Lake area as it ups the ante to its lithium ambitions in Ontario, Canada.

Of interest, the tenement package is east of Ardiden Ltd’s (ASX:ADV) Seymour Lake lithium project and contiguous with the Falcon Lake and Zigzag claims over which Argonaut holds an option to purchase.

On 11 March 2016, Argonaut announced the acquisition of lithium deposits known as Falcon Lake and Zigzag, collectively the Crescent Lake Lithium Project, located 250 kilometres north-northwest of Thunder Bay in Ontario.

The new claims cover an area of 54 square kilometres of the the under-explored area between clusters of known spodumene bearing pegmatites. The Falcon Lake Far West spodumene pegmatite occurrence is located within the new claims.

This takes to 80 square kilometres, Argonaut either holds or has an option to acquire of the highly prospective Crescent Lake / Seymour Lake pegmatite swarm.


Crescent Lake drilling

In May 2016, Argonaut geologists commenced exploration work at the Crescent Lake Project ahead of drilling approvals. On 6 June 2016,

these were granted and drill equipment is on the way to the Crescent Lake Lithium Project.

Diamond drilling will start in one week and will see an initial seven holes drilled.

First analytical results will be available about six weeks after the completion of each drill hole.


Analysis

Argonaut is on a fast track of developing lithium projects in Canada (rights to two) and a South Australian lithium exploration target.

However, there is more in store. A further acquisition is in the works which could be only a matter of weeks away.

With drilling at the flagship Crescent Lake project to commence in a week or so, Argonaut is leveraged to news flow. The soaring share price in 2016 is indicative of the intense interest in the progression of the lithium projects.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 08 Jun 2016 14:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148990/argonaut-resources-nl-adds-new-claims-to-lithium-project-ontario--69116.html
<![CDATA[News - Argonaut Resources NL to commence drilling at Crescent Lake Lithium Project ]]> https://www.proactiveinvestors.com.au/companies/news/148988/argonaut-resources-nl-to-commence-drilling-at-crescent-lake-lithium-project-69060.html Argonaut Resources NL (ASX:ARE) will commence diamond drilling within two weeks at its flagship Crescent Lake Lithium Project in Ontario, Canada.

The company has made a rapid transformation into the lithium sector, which has been heralded the best demand story among mined commodities.

The 500 metre drill program will focus on the Falcon Lake West prospect, which hosts spodumene bearing pegmatites and has recorded previous intercepts of 8.1 metres at 1.48% lithium.

Argonaut  expects to announce a further acquisition in the coming weeks.


Crescent Lake Lithium Project

Argonaut secured an exclusive option during March to acquire 100% of the Crescent Lake Lithium Project.

The area is highly prospective, with several internationally significant hard rock lithium deposits occurring in the region.

The project consists of two adjacent lithium deposits, Falcon Lake and Zigzag,  250 kilometres north northwest of Thunder Bay in Ontario.

Historic highlights include: 8.1 metres at 1.48% lithium from 2.7 metres; 10.5 metres at 1.15% lithium from 34.5 metres; and 14 metres at 0.99% lithium from 69.3 metres.

Exploration permits have now been granted for a period of three years over Falcon Lake and Zigzag.

Argonaut geologists commenced non-mechanised exploration works in late May 2016 in preparation for a 500 metre diamond drilling program in June 2016.


Background

Argonaut is focused on fast-tracking the development of its lithium assets.

The company now has rights to two Canadian projects (Crescent Lake, Greenbush Lake) and one South Australian lithium exploration target (Lake Blanche).

The Greenbush Lake Lithium Pegmatite Project is located 150 kilometres west-northwest of the Crescent Lake Lithium Project.

The project features a large outcropping pegmatite with rock-chip samples of up to 2.46% lithium, and 15 metres at 1.25% lithium.

The known lithium pegmatite occurrence is 15 metres wide by 30 metres in an exposed strike length.


Analysis

Argonaut is continuing its successful transformation as a lithium explorer with three projects now able to produce lithium related news flow.

Argonaut shares are up 300% year to date trading at $0.016 with the company expecting to make another acquisition shortly.

Australian broker Macquarie recently forecast a compound annual growth rate of 9% to 2021 for the commodity on the back of strong growth in new energy vehicle batteries.

Furthermore, this week CRU referenced a lithium price curve that has turned almost vertical.

Argonaut recently raised circa $1.3 million at $0.012 in a heavily oversubscribed placement, and another $1.1 million in a non-renounceable rights issue.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 06 Jun 2016 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/148988/argonaut-resources-nl-to-commence-drilling-at-crescent-lake-lithium-project-69060.html