Argonaut Resources Significantly Extends Nyungu Copper-Cobalt Deposit In Zambia

Argonaut Resources NL (ASX: ARE) has defined a potentially significant eastern extension to the Nyungu copper-cobalt deposit, Nyungu East, has been defined by an intense copper in soil anomaly from recent soil sampling in Zambia.

 

 

The Nyungu East anomaly is in three lobes over 900m and has the potential to significantly expand the currently defined Exploration Target of 580,000t to 1,150,000t of contained copper,Nyungu East is located approximately one kilometre east of the Nyungu Central copper-cobalt deposit.

 

 

A reverse circulation (RC) drilling program will commence within one week to test the Nyungu East anomaly. The Nyungu East drilling program supplements a partially complete, 2,800m diamond drilling program at the Nyungu copper-cobalt deposit.

 

 

The Nyungu copper-cobalt deposit is part of Argonaut’s 90% held Lumwana West project, located between two world-class copper operations, Barrick Gold’s Lumwana mine and First Quantum Mineral’s Sentinel mine in North- western Zambia.

 

 

Highlights

 

 

Nyungu East: Supplementary Drilling Programme

 

 

 

• • Argonaut has recently defined an intense copper anomaly at Nyungu East. The anomaly is defined by elevated copper in soil samples (Figure 2).

 

 

• • Peak copper in recently acquired soil samples is 0.21% Cu.

 

 

• • The anomaly is in three lobes over a 900m strike length.

 

 

• • Argonaut has engaged a contractor to drill up to 1,500m of RC drilling at Nyungu East (the RC Drilling Program).

 

 

• • The RC Drilling Program will test the three lobes of Nyungu East commencing within a week.

 

 

• • A commercial copper discovery at Nyungu East will have a significant positive impact on the value of the Lumwana West project.

 

 

 

Nyungu Central: Resource Drilling with Exploration Upside

 

 

 

• • In July 2021, Argonaut announced the commencement of a 2,800m diamond drilling at the Nyungu Central and Nyungu South.

 

 

• • Eight drill holes have been completed under the Diamond Drilling Program for a progressive 1,700m. Drilling is continuing.

 

 

• • This Diamond Drilling Programme involves: ¬  Exploration drilling for deposit extensions at Nyungu Central and Nyungu South. Resource drilling for infill upgrades at Nyungu Central:

 

 

 

»  Nyungu Central contains high grade intercepts such as 31m at 1.57% copper from 173m including 6m at 5.51% copper.

 

 

»  Infill drilling often intercepts additional high-grade zones which can boost the average grade of the deposit.

 

 

Argonaut has recommenced drilling at Nyungu. The deposit urgently needs drilling to target extensions and resource drilling infill. Previous intercepts of 176m at 0.55% copper and 31m at 1.57% copper provide the team with plenty of encouragement.

 

 

The 2021 Nyungu deposit drilling program has a dual-purpose: exploration drilling that aims to uncover significant new zones of copper and cobalt mineralisation, and infill drilling for Resource estimation purposes. Additionally, infill drilling will provide sample for ongoing metallurgical testwork.

 

 

For further information please visit: https://www.argonautresources.com

 

 

 

• • Argonaut has defined exploration drilling targets that have the potential to materially increase the Resource-base at Nyungu.

 

 

 

For further information please visit: https://www.argonautresources.com/site/Projects/base-metals/zambia