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ARGONAUT RESOURCES NL

ASX: ARE

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Argonaut is an international mineral exploration company listed on the Australian Stock Exchange (ASX: ARE).

Alford Project

* Hillgrove Resources Ltd farming in to earn up to 70% by spending $4.25 million.
* In Moonta Sub-domain of Olympic Domain.
* Drilling at Netherleigh Park - best 76m @ 0.95% Cu.
* Hillgrove to drill test extent of Netherleigh Park mineralisation and new targets through 2006.
* Glenrea is large Iron Oxide Copper-Gold target for future drilling.
* Avoca Resources Ltd is exploring similar geophysical targets North and South of Alford.

Toreens Project

* Drilled by WMC in the early 1980s before the OD style of system was fully understood.
* Target is BIGGER then Olympic Dam signature a massive CU-Au target.
* Copper up to 1.3% in three holes drilled. magnetite/haematite OD-type chemical front.
* Main Native Title Claimant group signed clearence on 5 May 2004. Negotiating access agreements with two other claimant groups, drilling to commence on completion.
* Joint venture partner Straits Resources committed to spend AUD$ 7 million to acquie 70%.

Musgraves Project

* 4314 sq km block under exploration licence application - Mithril Resources to spend $2 million and earn 51% on grant of lease.

Mt Kroombit Project

Argonaut has completed the acquisition of the Kroombit Zinc -Copper deposit on ML5631 and surrounding tenements in the Gladstone area, Central Queensland. In the process of testing surface mineralization, previous explorers generated drill intersections including:

Zinc

* Zinc: 43.3m at 6.02% Zn from 21.0m including 4.6m at 23.57% Zn from 27.6m
* MK17: 74.2m at 3.2% Zn from 3.8m
* MK11: 15.1m at 9.15% Zn from 26.4m including 1.4m at 26.2% Zn from 30.6m

Copper

* MK03: 14.3m at 3.32% Cu from 20.7m
* MK16: 19.8m at 2.01% Cu from 82.3m
* MK28: 39.6m at 0.93% Cu from 24.4m

On completion of relevant license transfers and applications, Argonaut will proceed with confirmatory drilling in order to confirm previous Zinc Copper resource calculations. Power, road, rail and port facilities are all located within easy reach of the Kroombit deposit.

Century Project, Laos

The Century area is in North West Laos next to the Mekong River which forms the border with Thailand. It lies on the prospective Loeui-Luang Prabang foldbelt of Perm-Triassic age that hosts Kingsgate Consolidated's expanding Chatree gold mine to the south in Thailand and Pan Australian's Phu Bia gold mine in Laos to the north. The 300 square kilometre Century area is operated through the 70% owned subsidiary Argonaut Resources (Laos) Co. Ltd. under terms specified in the Mineral Reconnaissance and Exploration Agreement (MREA) signed with the Government of Laos.

Xekong Project, Laos

The Xekong area is in SE Laos, 150km SE of Oxianas Sepon gold copper project which is under expansion. The 777 square kilometre Xekong area is operated through the 65% owned subsidiary Xekong River Mining Co. Ltd under a MREA signed with the Government of Laos.

Mine For

gold, copper, zinc, lead

Location of operation(s)

Laos, Australia

Address

Suite 4, Level 9 341 George Street
CHATSWOOD, NSW, Australia

Phone

+61 2 9299 9690

Email

Website


Last Updated

17/5/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.