I know the share price doesn't reflect it but I have very high hopes for this stock in the next 12 months. Kroombit is the insurance and Laos and Torrens represent serious blue sky.
======================================================== Argonaut Resources NL (ASX: ARE) is pleased to announce the arrival on site on 21st June 2008 of the drill rig and crews which will operate a double shift resource drilling program on the Kroombit Zinc-Copper Deposit in Central Queensland. This program will comprise approximately 250 Reverse Circulation (RC) holes which are expected to total 12,500 metres. In addition, a representative number of diamond drill holes will be drilled. The purpose of this program is to advance the resource calculations of known mineralisation at Kroombit to JORC standards and to provide core for confirmatory analysis plus ongoing metallurgical testwork. On 13th May 2008, Argonaut announced that approval to re-commence drilling had been granted by the Queensland authorities. The Kroombit Zinc-Copper Deposit is a skarn style mineral deposit hosted in Devonian age sediments with an interpreted underlying porphyry intrusion. Background Argonaut holds a 100% interest in the Kroombit Zinc-Copper Deposit in Central Queensland via its interest in ML5631 and three surrounding EPMs. Argonaut completed a highly successful confirmatory drilling program at Kroombit in 2007. Highlights of this program include: • KRRC1: 31m at 5.27% Zn from 33m • KKRC5: 13m at 5.97% Zn from 0m • KKRC5: 25m at 4.17% Zn from 19m • KKRC5: 14m at 7.1% Zn from 27m • KRRC7: 15m at 6.28% Zn from 0m • KRRC12: 71m at 2.14% Zn from 3m ZINC-COPPER RESOURCE DRILLING UNDERWAY AT KROOMBIT 23rd June 2008 Recently, preliminary metallurgical testwork has demonstrated that zinc and copper mineralisation can be treated by conventional floatation to produce zinc concentrates of approximately 35% Zn and copper concentrates of approximately 33% Cu. On the basis of these excellent early results, Argonaut has commissioned further floatation testwork aimed at providing information for use in preliminary talks with smelter operators. Power, road, rail and port facilities are all located within easy reach of the Kroombit Zinc-Copper deposit.
ARE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
