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Argonaut Resources NL
Summary
| Project: | Lumwana West | |
|---|---|---|
| Deposit: | Nyungu | |
| Location: | Zambia | |
| Commodities: | Copper | |
| Date: | 3/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 28-3-2017: Argonaut Resources NL announces a Resource Estimation report for its Nyungu deposit at the Lumwana West project. Updated Exploration target for Nyungu deposit at Lumwana West. Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) is please | |
| Resources: | Exploration Target: 15 - 20 Mt @ 0.08 - 0.12% Co for 12 - 24kt Co contained | |
| CP/QP: | [Overall Report]: Lindsay Owler (Internal) | |
| ABSTRACT: | Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) is pleased to announce an updated Exploration Target for the Nyungu Copper-Cobalt deposit in Zambia. The estimation was updated to include target ranges for cobalt. The Nyungu copper-cobalt deposit is part of the Lumwana West project located in northwestern Zambia, 65km south of the DRC border. Cobalt occurs as an accessory mineral in many copper deposits located within the Central African Copperbelt. The Copperbelt straddles the border between Zambia and the Democratic Republic of Congo (DRC). Zambia remains a considerably safer and politically stable jurisdiction that benefits from strong mining law and courts. Argonaut is planning to undertake a targeted drilling program as soon as funding permits, and in any event within two years, to define mineralisation extents on a drill spacing of 100m (along strike) by 50m (across strike) for approximately 3,000m of drilling. The opportunity exists to drill further and better cobalt intercepts and to increase the tonnage and grade of cobalt mineralisation estimated to date. This is mainly due to the fact that previous drilling specifically targeted copper mineralisation, not cobalt. | |
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