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Argonaut Resources NL
Summary
| Project: | Crescent Lake | |
|---|---|---|
| Deposit: | Falcon Lake West | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 7/27/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-7-2016: Argonaut Resources NL announces an Exploration/Drilling Update report for its Falcon Lake West deposit at the Crescent Lake project. Drilling results incl. 21.7m @ 1.09% Li2O from 48.0m. Argonaut Resources NL (ASX: ARE) (Argonaut or the Company | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Lindsay Owler (Internal) | |
| ABSTRACT: | Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) is pleased to announce initial drilling results from the recent program at its Crescent Lake project in Ontario, Canada. Crescent Lake is located 250km NNE of Thunder Bay in Ontario, Canada (Figure 3). Earlier in the month, Argonaut completed a six-hole program of diamond core drilling at the Falcon Lake West deposit. The program targeted two pegmatite units, one of which outcrops boldly. Visually, core generated during the program confirmed the presence of the two targeted spodumene-bearing pegmatites. The lower pegmatite unit is up to 24m thick and the upper pegmatite unit is up to 15m thick. Spodumene mineralisation was logged throughout the pegmatite intervals. Spodumene concentrations vary from moderate to intense. Initial laboratory results confirm the deposit’s lithium grades. Further results will be reported within two weeks. Pegmatite emplacement and geometry is strongly influenced by structural geology. Argonaut engaged an international structural geology expert to consider the spodumene pegmatites at Crescent Lake. The resultant report has outlined two elongate zones that warrant detailed exploration for undiscovered pegmatites. Argonaut is preparing to investigate these target zones with the aim of adding to the inventory of known lithium mineralisation at Crescent Lake. Contingent drilling to define pegmatite thicknesses and grades is intended to follow this near-term program. | |
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