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Argonaut Resources to extend gold drill push with second Higginsville campaign planned

This second drilling program at Birties will be in addition to drilling scheduled for later this month at the Island gold prospect.

Argonaut Resources NL - Argonaut Resources doubles its gold drill push with second drill-ready prospect at Higginsville
A suitable track-mounted RC drilling rig has been secured for the program

Argonaut Resources NL (ASX:ARE) will drill a second gold prospect named Birties near Higginsville, Western Australia, in addition to the drilling scheduled later this month at the Island Gold Prospect.

The company has received approval from the WA Government to drill both areas of its Higginsville project and a suitable track-mounted, slim-hole reverse circulation (RC) drilling rig has been secured for the program.

Once the Island gold prospect has been drilled Argonaut will start to drill Birties, which features a gold geochemistry anomaly generated by a previous explorer in the early 2010s.

Earn-in JV

Argonaut holds a 51% interest in a package of tenements around Higginsville, which is south of Kalgoorlie and can earn up to 80% under an earn-in joint venture with Loded Dog Prospecting Pty Ltd.

The parties entered the Eastern Goldfields Earn-In Joint Venture and Royalty Agreement on February 7, 2017, and Argonaut has the right to earn an 80% interest in the tenement package.

Broad geochemical anomaly 

The target, which is 15 kilometres north of the Higginsville Mining Camp, is defined by a broad geochemical anomaly which is over 1-kilometre long and 1-kilometre wide.

The anomaly features a 500 metres by 100 metres, +20ppb gold peak, which has not been drill-tested.

Nearby, shallow drilling returned anomalous results consistent with the shape of the peak anomaly.

Peripheral, shallow drilling of between 6 and 40 metres depth from the 1990s returned anomalous results but appears to have missed the target.

Argonaut is fast-tracking plans to drill 10-15 RC drill holes to test the peak gold anomaly at Birties following completion of 15-20 RC holes at the Island prospect.

Quick facts: Argonaut Resources NL

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