Other Projects

Argonaut holds an 80% interest in exploration licence E 15/1489 which hosts:

• the Darson pegmatite swarm;
• the Amorphous gold deposit; and
• the Footes Find gold prospect.

Lithium Exploration – Darson Pegmatite Swarm

Drilling Program

In April 2023, Argonaut completed a 30-hole, 3,246 m RC drilling program at the Darson prospect, near Higginsville, WA. The program targeted LCT Pegmatites on the basis of outcrop mapping and soil geochemistry.
Drilling succeeded in intersecting Pegmatitic rocks in all 30 drill holes. A total of 132 Pegmatitic intervals were logged across the 30 drill holes for a cumulative total of 431 metres of logged pegmatitic rock. The results were reported to the ASX on 17 April 2023 .
Lithium intercepts generated by the 30-hole drilling program are low to medium grade. Ancillary elements such as caesium, tantalum and rubidium occurred at or above levels typically in commercial, Western Australian lithium deposits.

Argonaut holds a 100% interest in the Kroombit zinc-copper deposit in Central Queensland via its interest in ML5631 and MDL2002.  Mining on ML5631 is subject to a 2% net smelter royalty, payable to Aeris Resources Ltd.

MDL2002 was renewed by the Queensland Government Department of Resources for a further five years to 31 August 2026.

On 11 June 2009 Argonaut announced a maiden resource estimation for the Kroombit deposit.  The Indicated and Inferred Resources at Kroombit comprise:

• a Zinc Resource of 5.2 million tonnes at 1.9% zinc and 0.15% copper using a cut-off of 1.0% zinc, for 98,800 tonnes of zinc and 7,800 tonnes of copper; and
• a Copper Resource of 0.9 million tonnes at 1.0% copper at a cut-off of 0.5% copper for 9,000 tonnes of copper.

In addition, Exploration Results are reported comprising a defined Exploration Potential of between:

• 1 million and 1.5 million tonnes at 1.5% to 2.0% zinc, and between
• 5 million and 1 million tonnes at 0.7% to 1.3% copper.

No field-based work was undertaken at Kroombit during the Quarter.

The Aroona project is prospective for zinc-silicate (willemite) mineralisation in the locally endowed carbonate units of the Wilkawillina Limestone, adjacent to the Aroona fault which hosts numerous willemite occurrences along trend, including the Aroona, Aroona II and Reliance deposits.

Field work to date has been regional in scope and includes mapping, airborne geophysics and minor rock chip sampling targeting the NW Aroona prospect. No drilling has been conducted.

Argonaut holds a 100% interest in EL 6199.

The Kamapanda project is located in the Central African Copperbelt, North-western Province, Zambia. The large-scale exploration licence covers an area of 225 square kilometres and extends to the Angolan border. The area is remote, with limited access and is largely underexplored.

A program of regional stream sediment sampling is planned to outline both gold and copper potential.  Expenditure at Kamapanda is on hold pending the reinstatement of the Lumwana West licence.

The Kalaba East project is located in the Central African Copperbelt, North-western Province, Zambia. The area is prospective for large tonnage, low to medium grade copper-cobalt deposits.

Argonaut plans to conduct a regional geochemical sampling program at Kalaba East.  Expenditure at Kalaba East is on hold pending the reinstatement of the Lumwana West licence.

The Musangila project is located in the Central African Copperbelt, North-western Province, Zambia. The area is prospective for large tonnage, low to medium grade copper-cobalt deposits and alluvial gold.

Argonaut plans to conduct a geochemical sampling program followed by RC drilling.  Expenditure on field activities at Musangila is on hold pending the reinstatement of the Lumwana West licence.