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ARGO EXPLORATION LIMITED

ASX: AXT

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

Argo Exploration is a multi-commodity exploration company that has a strong focus on two exploration licences in highly prospective locations that it considers has a substantial amount of potential for discovery. Argo's exploration areas are based in the heart of the Olympic Dam and Central Gawler regions in South Australia .

These strategic land holdings have targeted exploration and drilling campaigns. The first license Intercept Hill is centrally located within the Olympic Dam IOCG province. Locally, it is at the centre of a cluster of IOCG deposits including Oak Dam, Winjabbie, Emmie Bluff and Carrapateena.

The second exploration license Toondulya is located within the Central Gawler Craton Gold Province at the southern end of Yarlbrinda Shear Zone. The Company has defined high priority target areas for gold and uranium and potential IOCG mineralization.

Intercept Hill

Situated in World Class IOCG mineralised Province of South Australia which contains Olympic Dam, Oak Dam, Prominent Hill & Carrapateena.

Intercept Hill is ~ 70km south of the Olympic Dam Cu-U-Au operation.

Area ~ 25km west of the new Carrapateena IOCG discovery and ~5km respectively east and south-west of Winjabbie and Oak Dam deposits. Strategically positioned, grossly under explored, highly fertile acreage. Potential for major deposit.

Prospective for Olympic Dam-style gold, copper and uranium in basement, copper and Sedex-style lead-zinc-silver deposits in cover rocks.

Known and proven, essentially untested, gold, copper and base metal mineralization within tenements; Uranium and REE anomalous Fe-oxide altered basement rocks present.

Area is immediately adjacent to, and includes part of, the Emmie Bluff Cu resource (25Mt @ 1.3% Cu, depth 400m with an insitu value of $A3 billion); mineralization is open into EL3084. Potential for major extension into Argo’s tenement.

Drilling in and adjacent to EL3084 has located basement Cu of Olympic Dam style (to 2.4% Cu) at 800+m depths.

Toondulya

Located in the central western part of the Gawler Craton and targeting:

(a) gold and copper mineralisation within the Central Gawler Gold Province, similar to the Tunkillia and Nuckulla Hill prospects;
(b) potential IOCG deposits; and
(c) palaeo-channel roll front uranium deposits.

The prospectivity of the Yarlbrinda Shear zone has been demonstrated by the discovery of gold at the Nuckulla Hill and Tunkillia to the north of Toondulya. Toondulya has a similar geological setting to Tunkillia.

Defined potential geophysical targets and major, high order gold and base metal geochemical anomalies. Coincidence of small circular magnetic low with small circular gravity high and calcrete gold anomaly.

Located within a zone of structural dilation where the Yarlbrinda Shear Zone intersects the northern edge of the Arcoona Horst block, Toondulya is well located in terms of exploration potential.Magnetized triple point structural junction of Fe-rich Hiltaba Granites. On structural strike of three best Central Gawler Craton Gold deposits

Mine For

iron ore, copper, gold, uranium

Location of operation(s)

South Australia

Address

Suite 304 , 22 St Kilda Road
ST KILDA, VIC, AUSTRALIA

Phone

(03) 9692 7222

Email

Website


Last Updated

27/04/2011

 

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.