Proactive Investors - Run By Investors For Investors

Argonaut Resources leveraged to potential exploration success as drill rig mobilises

Stage one of this drill program will involve 8-10 drill holes to depths of 700-1500 metres.
EDM1500, heli-portable drilling rig and ancillary equipment arrives at the Torrens exploration site
28 gravity targets were compiled from modelling of gravity and magnetic data

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.

View full ARE profile View Profile

Argonaut Resources NL Timeline

Related Articles

Projects Arrow holds in WA
February 06 2019
The Plumridge project in WA is a joint venture with Independence Group (ASX:IGO).
South America's prospective lithium triangle extends upwards from Argentina, across Chile and to Bolivia
February 01 2019
Galan is named for the Cerro Galán volcano system near its Argentinian ground.
January 30 2019
The company is expanding Cue’s existing gold deposits as it defines the newly-discovered Lake Austin North gold system.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use