agy not just about burundi

I accidently posted this under an old thread, I meant to post it under a new thread, because I think it deserves attention. Here it is:

For those that think that Argosy is ONLY about Burundi, I copied and pasted a piece of the March 15, 2007 Management's Discussion and Analysis of operating results report on SEDAR.

Very interesting, and at the end note that it will determine how it will proceed in 2007. Well, this is already May of 2007, so this could be soon on the agenda.


LAC PANACHE and FISH CREEK– Nickel, Copper, Cobalt, Gold, Platinum Group Metals, Canada

Lac Panache
The Lac Panache Project is located some 40 kms southwest of Sudbury, in the Sudbury Mining Division, Ontario, Canada. The project area initially comprised 43 claims containing a total of 162 claim units distributed
across 4 separate blocks: Lake Panache, Brazil Lake, Little Panache and Norwest. Subsequently the total land area of the project was increased by a further 39 claim units in 5 claims bringing the total claim holding to 48 (consisting of 201 400m by 400m claim units) in an area of 32.2 km2. The Corporation can earn 100% of the project through staged cash payments totaling $300,000 and completing staged work commitments over three years of $455,000. On production the vendor will retain a 3% net smelter return (“NSR”). This NSR is subject to buy-back provisions.

Fish Creek
In April 2006 the Corporation entered into an agreement to acquire 100% of the Fish Creek property located in Nairn Township, Sudbury Mining Division, Ontario, Canada. Situated approximately 50 km southwest of Sudbury the property is positioned over a possible southwest extension of the “Mystery Offset Dike” exposed some 10 km to the northeast. The Mystery Offset Dike has been described by
other explorers as being an extension of the Worthington Offset Dike on which CVRD’s (originally Inco’s) Totten Deposit is located. Offsets are dike-like quartz diorite bodies that have been interpreted as infilling major fracturezones. Thee dikes are known to occur both radiating from and concentric to the Sudbury Igneous Complex (“SIC”). The 1.85 billion year old SIC, together with surrounding dike-hosted deposits, is described as the largest known
concentration of nickel-copper sulphides in the world.
Covering 2.88 km2 in area, the property consists of 2 claims containing a total of 18 claim units each 400m by 400m in area. The Corporation can earn 100% of the project through staged cash payments totalling C$100,000 and completing staged work commitments over three years of C$21,600. On production the vendor will retain a 3% net smelter return, which is subject to buy-back provisions.

Recent work
The Corporation contracted Aeroquest Limited to carry out a 323 line kilometer combined electromagnetic (“EM”) and magnetic helicopter-borne survey (AeroTEM II) across the Fish Creek project area and portions of the Lac Panache project area. Areas flown include the Sawmill Bay prospect area on the eastern side of the main Panache block of claims, the Little Panache claims, the Brazil Lake area and the Fish Creek project area. The primary application of the AeroTEM II system is the detection of near-surface massive sulphides.
The Corporation contracted Southern Geoscience Consultants (“SGC”) of Perth, Western Australia, to act as its geophysics consultant for the processing and interpretation of survey results. SGC identified 15 EM conductors (anomalies) at Sawmill Bay, 1 conductor anomaly at Little Panache with a further 6 at Brazil Lake – Fish Creek.Of interest to the Corporation are a cluster of 6 EM conductors spread out along a 1.5 km area between Sawmill Bay and the southwest corner of the AeroTEM II survey area. All but one of the conductors is sourced within the Nipissing Gabbro. Two of the anomalies have strike lengths in excess of 200m with one of these still being open to the west. The remaining conductors are more discrete. All of the conductors have strong on time as well as off time
responses indicating relatively high conductivity. The position and overall strength of these conductors are
consistent with a massive sulphide source.
The Corporation is currently evaluating the results of exploration activities conducted in 2006 to determine how it will progress the projects in 2007.