Just when we were looking at the major triggers, bang comes this one about Loch Lilly Drilling Program approval today . Once again getting a grant of $150,000 , ARD seems to be growing all the time with Govt largesse.
Approval has been received for the Loch Lilly drilling programme. ■ Argent to commence site preparations next week, and drilling contractor scheduled to mobilise to site during the second week of July. ■ A total of 1,000 metres to be drilled to test the Eaglehawk and Netley geophysical targets – each by a 500 metre diamond hole. ■ Major discovery potential identified in this Western Tasmania Mount Read Volcanics equivalent belt includes polymetallic volcanic-hosted massive sulphide (VHMS), copper-gold porphyry, and nickel sulphide mineralisation. ■ 75% of the direct drilling costs up to $150,000 will be co-funded by the NSW Government, merit based, Cooperative Drilling fund. ■ Completion of the drilling programme will result in Argent earning a 51% interest in the Loch Lilly project. ■ Argent has the right to earn up to 90% interest in the project.
ARD Price at posting:
3.2¢ Sentiment: Hold Disclosure: Held
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