Proactive Investors - Run By Investors For Investors

Argonaut Resources and partner overcome drilling issue at Torrens Copper-Gold Project

The current drill hole is targeting a large coincident gravity and magnetic body interpreted from 1,200 metres below surface.
project map
Excellent drill rates have been achieved beneath the artesian aquifer

Argonaut Resources NL (ASX:ARE) and Aeris Resources Ltd (ASX:AIS) have successfully negotiated an artesian aquifer encountered while drilling at the Torrens exploration project in South Australia.

The JV (Argonaut 30% and Aeris 70%) is exploring for iron oxide-copper-gold systems in the highly-prospective Stuart Shelf region in SA with a heli-portable drilling rig drilling from custom-made pontoons to depths of 800-1,500 metres.

READ: Argonaut Resources restarts drilling at large Torrens copper-gold anomaly in South Australia

The current drill hole, TD10, commenced drilling on April 24 and intersected the artesian aquifer between 60 metres to 90 metres below the lake surface.

Drilling continued to 108 metres at which point casing was installed and cemented to surface, ensuring the artesian aquifer was successfully sealed off and contained.

Excellent drill rates have been achieved beneath the artesian aquifer. TD10 had advanced to a depth of 297 metres as on May 4 and the modelled depth to the target zone is 1,200 metres.

The target zone is defined by a 3 square kilometre coincident gravity and magnetic anomaly interpreted from 1,200 metres below surface.

View full ARE profile View Profile

Argonaut Resources NL Timeline

Related Articles

Supersaturated brine flows from the Long Canyon No 2 well to the cuttings pit
April 16 2019
The company has a $1.65 million commitment from a strategic investor and is rattling the tin for a further $1.35 million.
Ovoot Early Development Project in Mongolia
March 06 2019
Gina Rinehart’s Hancock Prospecting has gone all in with a bid for another company targeting similar annual production levels.
1554193951_great-bear-core-and-finger.jpg
April 01 2019
Four years ago, the firm struck a deal to acquire the Dixie mining claims in Ontario’s prolific Red Lake gold district

© 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