Argonaut Resources (ASX:ARE) had a rally on the Australian Securities Exchange (ASX) to close trade today (13 April) 50% higher despite not having any announcements.
The company is this month poised to complete a reverse circulation (RC) drilling program targeting lithium, caesium, tantalum (LCT) pegmatites at the Darson prospect within its 80% held Higginsville project in Western Australia.
The RC drilling program will comprise some 3,000m of drilling and is expected to be completed in April.
A soil sampling program was completed over the Darson pegmatite swarm during the September and October 2022. About 278 soil samples sieved to #40 mesh plus QA/QC samples were collected from in-situ (residual) soil profiles.
THE RC drilling program will comprise some 3,000m of drilling and is expected to be completed in April
To date, an additional 534 soil samples have been taken and submitted for laboratory analysis. Samples submitted for analysis during March 2023 will provide further information for the targeting of potential drillholes at Darson Central.
The Higginsville project is governed by a joint venture agreement between Argonaut and privately held Loded Dog Prospecting .The JV relates to exploration licence E15/1489. Argonaut holds an 80% interest and will sole fund joint venture activities through until completion of a Bankable Feasibility Study (BFS) and a decision to mine is made.
Argonaut an Australian listed exploration and development company focused on Higginsville, the Murdie copper project in South Australia, and copper exploration in Zambia.
Write to Adam Orlando at Mining.com.au
Images: iStock
