Argonaut hits strong Lumwana intercepts

THE DRILL SERGEANT: Argonaut Resources has completed a program of RC precollar drilling at the Nyungu prospect on the company’s Lumwana West project in north-western Zambia.

Although the company is yet to receive results of diamond core tails from this drilling it said it expected the results will extend and enhance RC pre-collar results.

 

Source: Company announcement

 

The program targeted shear-hosted copper mineralisation associated with cobalt and gold within the Mwombezhi Dome.

Results have been received for all RC drilling conducted, which Argonaut said show shallow oxide to transitional copper mineralisation striking north south with a strike length of more than 1,200 metres.

Highlights of the latest round of drilling include:

–    88.2 metres at 0.47 per cent copper and 707 parts per million cobalt from 12 metres, including:

o    20m at 1,379ppm cobalt and 0.47 per cent copper from 32m; and

o    34m at 0.67 per cent copper and 708ppm cobalt from 64m;

–    59m at 0.49 per cent copper from 8m including 47m at 0.57 per cent copper from 20m; and

–    45.85m at 0.44 per cent copper from 51m.

“We are very pleased to have received such encouraging results and this further confirms the Board’s belief in the prospectivity of the Lumwana West project,” Argonaut Resources director Lindsay Owler said in the company’s announcement to the Australian Securities Exchange.

“We have only drilled 1,200 metres of the 9,000 merte anomaly at Nyungu and the company believes that there is the potential for strong exploration upside.

“Argonaut is also continuing to develop drill targets at Lumwana, Kavipopo and ZNS prospects on the Lumwana West Licence.

“During the coming field season (April to November), Argonaut plans collect over 1,000 soil samples, more than 40 line kilometres of IP and to drill test strike extensions of the Nyungu mineralisation.”