Argonaut Resources Ltd (ASX:ARE) is buoyed by drilling results received from 37 holes across three targets at its Higginsville Gold Project in Western Australia.
The drilling program of 3,426 metres at Amorphous, Birties and Island prospects returned a best result of 5 metres at 2.04 g/t gold from 37 metres from Amorphous.
Other results from Amorphous deposit include 7 metres at 0.38 g/t from 57 metres, 6 metres at 0.33 g/t from 22 metres and 2 metres at 0.92 g/t from 71 metres.
Argonaut first drilled the Amorphous gold deposit in 2017.
The latest drilling program has increased the potential for a commercial gold deposit at Amorphous by demonstrating improved continuity of gold grades along a strike length of 800 metres.
At Birties target the company completed 14 reverse circulation (RC) holes, with highlights including 2 metres at 0.25 g/t from 23 metres.
Around 13 RC drill holes for a total of 1,352 metres were completed at the Island Gold target, however, four planned drill holes across two gold geochemistry anomalies were not drilled due to the surface conditions of Lake Cowen impeding rig access to the planned collars.
The company has elected to resample drilling chips at Island, which is 9 kilometres south of the Higginsville Mining Camp, and resubmit to the laboratory for further analysis.
These two targets are prospective and warrant drill testing.
Under the Eastern Goldfields Earn-In Joint Venture and Royalty Agreement agreement with Loded Dog Prospecting Pty Ltd, Argonaut has the right to earn up to an 80% interest in the Higginsville tenement package.