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- Argonaut Resources (ARE) begins field operations in preparation for drilling at the Nyungu copper-cobalt deposit in Zambia
- The company will undertake 1600 metres of exploration diamond drilling and 1200 metres of resource diamond drilling
- Exploration drilling will aim to uncover new zones of copper and cobalt mineralisation while resource drilling will be for resource estimates
- Drilling will begin this month and is budgeted to cost $2 million
- Shares in Argonaut are up 14.3 per cent and trading at 0.8 cents at 1:37 pm AEST
Argonaut Resources (ARE) has begun field operations in preparation for drilling at the Nyungu copper-cobalt deposit in Zambia.
The Nyungu deposit is part of Argonaut’s 90 per cent held Lumwana West Project, which is between Barrick Gold’s Lumwana mine and First Quantum Mineral’s Sentinel mine.
Argonaut will undertake 1600 metres of exploration diamond drilling and 1200 metres of resource diamond drilling.
Exploration drilling will begin this month with a focus on targeting extensions to the Nyungu Central and Nyungu South deposits.
The Nyungu Central deposit remains open along strike and to the north and south. Argonaut will test these extensions with the aim of increasing tonnages for future resource estimates.
The Nyungu South deposit lies in an area where a copper soil anomaly and an induced polarisation (IP) geophysical anomaly are coincident.
CEO and Director Lindsay Owler is keen to begin drilling.
“The 2021 Nyungu deposit drilling program will have a dual-purpose: exploration drilling that aims to uncover significant new zones of copper and cobalt mineralisation, and infill drilling for resource estimation purposes,” Mr Owler said.
“Argonaut has defined two exploration drilling targets that have the potential to materially increase the resource-base at Nyungu.”
Shares in Argonaut were up 14.3 per cent and trading at 0.8 cents at 1:37 pm AEST.
