Argonaut Resources NL

Published : April 03rd, 2016

Lake Blanche Lithium Brine Target

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Lake Blanche Lithium Brine Target

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ASX announcement

4 APRIL 2016


Lake Blanche Lithium Brine Target

Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) is pleased to announce it has secured two exploration licences covering Lake Blanche, a salt lake with the potential to host lithium brines and potash in the north of South Australia.


Highlights

  • Lithium carbonate prices in China are reported to have surged from

    $8,000/t in September to over $26,000/t in March 2016.

  • Argonaut has accepted terms offered for the grant of new two exploration licences covering the whole of Lake Blanche, north of the Flinders Ranges in South Australia.

  • The lake is prospective for lithium brines due to its distinctive geological and hydrological qualities.

  • The lake is also prospective for potash mineralisation.

  • The licences cover an area of 2,000 square kilometres and Lake Blanche itself has a surface area of 1,700 square kilometres.

  • The size of the lake suggests it could represent an internationally important lithium source in the event economic concentrations of lithium are found in its brines.




Argonaut notes that the geological and hydrological features unique to Lake Blanche make it a particularly attractive Australian lithium brine target.


Argonaut Resources NL ABN 97 008 084 848

Registered Office

Suite 4, Level 9

341 George Street

Sydney, NSW, 2000, Australia T +61 2 9299 9690

F +61 2 9299 9629

E [email protected]

Adelaide Office

Level 1

63 Waymouth Street Adelaide, SA, 5000, Australia T +61 8 8231 0381

F +61 8 8231 6092

E [email protected]


Lake Blanche, South Australia (Argonaut 100%)

The Lake Blanche exploration licence areas have the potential to host lithium brines and potash.

Lake Blanche is a closed to restricted basin covering an area of 1,700 square kilometres. It has a broad

catchment that includes the Mt Babbage and Mt Painter Inliers which are recorded as containing elevated rare elements including lithium and tantalum (Figure 1).

Economic concentrations of lithium in brine generally occur in circumstances where ground waters percolate through neighbouring lithium bearing rocks into a

closed, continental basin that has not been subject to marine flooding throughout its geological history. Lake Blanche appears to fit these requirements.

An arc of lakes, including Lake Blanche, to the north of the Flinders Ranges has been independently defined as prospective by Geoscience Australia in a 2013 report titled 'A Review of Australian Salt Lakes and Assessment of their Potential for Strategic Resources'. Argonaut, having assessed the potential of each lake on merit, determined that Lake Blanche has the best potential for economic lithium grades.

In the event economic concentrations of lithium are contained in Lake Blanche's brines, the lake has the potential to be an internationally significant source.


300,000 mE 350,000 mE 400,000 mE 450,000 mE


ELA 2015/00221


Lake Blanche



6,750,000 mN


y

va e

l

l

o

ala

P

e

r

e

t

a

c

w

e

h

ELA 2015/00222


B

l

a

n

Lake Callabonna


6,700,000 mN


Mt Babbage Inlier



6,650,000 mN


Historic exploration for rare elements (Ta, Nb)

Mt Painter Inlier


Interpreted palaeovalley thalweg



0 20 40

Kilometres


Lake Frome


SOUTH AUSTRALIA

LAKE BLANCHE PROJECT

Summary map

1 April 2016


Lake Blanche 01


Figure 1 Lake Blanche with exploration licence locations with relevant geological/hydrological features.


2 Argonaut Resources NL | ASX ANNOUNCEMENT

No previous lithium brine exploration has been recorded in the Lake Blanche area although historic brine exploration has been undertaken at Lake Frome, to the southeast.

Lithium brine deposits, particularly those found in Chile, Bolivia and Argentina are often referred to as 'salar' deposits.


Background

Crescent Lake Project, Canada (Argonaut acquiring 100%)

On 4 March 2016, Argonaut released details of the acquisition of the Crescent Lake Lithium Project in Ontario, Canada (Figure 2) to the ASX.

Highlights of previous drilling at the Crescent Lake Lithium Project, released to the ASX on 11 March 2016, include:

Falcon Lake Area

  • 8.1m at 1.48% LiO2 from 2.7m in drill hole W-3

  • 10.5m at 1.15% LiO2 from 34.5m in drill hole W-9

  • 14m at 0.99% LiO2 from 69.3m in drill hole CO-10-001

  • 7m at 1.07% LiO2 from 55.3m in drill hole CO-10-002

  • 11m at 1.10% LiO2 from 39.4m in drill hole CO-10-003

    Zigzag Area

  • 6.1m at 1.08% LiO2 from 12.4m in drill hole CO-10-007


    Other Crescent Lake Lithium Project highlights include:

  • Adjacent 23m and 10m thick pegmatites at Falcon Lake West deposit.

  • 3 to 4 stacked pegmatites over 670m at the Tebish occurrence.

  • The deposits are hard rock pegmatite deposits

    containing spodumene mineralisation.

  • The areas surrounding these known deposits are yet to be systematically explored.

  • There is excellent potential to define deposit extensions and additional deposits.

  • The deposits are well located close to the North American rail network and a major port.


Lithium Market

The lithium market is known to be in short supply due to the sharp increase in demand for lithium-ion batteries used in electric cars and domestic power storage systems. Storage of renewable electricity is a major

international issue and domestic self-sufficiency via solar panels and lithium-ion storage units has mass consumer appeal.

The sale of all-electric and hybrid vehicles more than quadrupled in China between 2013 and 2014 and Tesla's 'gigafactory' in Nevada hopes to supply lithium- ion batteries for over 500,000 cars within five years.

Industry insiders note that long-term producers have been slow to react to the increased demand. In a recent report, CORMARK Securities Inc noted:



A lack of production growth from the big four and a series of ramp up issues with the juniors, has led to a tight lithium market with lithium carbonate prices in China surging from $8,000/t in September to

+$26,000/t today.

Beyond the current wave of supply, we forecast a growing supply gap to emerge -40 ktpa LCE (Lithium Carbonate Equivalent) by 2020 and over 100 ktpa LCE by 2025.

CORMARK Securities Inc, 23 March 2016


Lindsay Owler

Director and CEO Argonaut Resources NL




Sections of information contained in this report that relate to Exploration Results were compiled or supervised by Mr Lindsay Owler BSc, MAusIMM who is a Member of the Australasian Institute of Mining and Metallurgy and is a full time employee of Argonaut Resources NL. Mr Owler holds shares and options in Argonaut Resources NL, details of which are disclosed in the Company's 2015 Annual Report. Mr Owler has sufficient experience which is relevant to the style of mineral deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Mr Owler consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.


Argonaut Resources NL | ASX ANNOUNCEMENT 3


High grade metamorphic complex Metavolcanic dominant

Granitic dominant Metasedimentary dominant Proterozoic and Phanerozoic cover International border

Provincial boundary Coast/lake

Major city

Geological subprovince boundary Superior Province geological boundary Lithium mine/resource

Lithium occurence


Hudson Bay


Labrador Trough


Thompson Belt

MANITOBA

ONTARIO

Trans Hudson



Sachigo

CANADA


James Bay


James Bay


Opinaca


Rose

Whabouchi


Berens

Pakeagama Lake

Crescent Lake Project


Moblan


Tanco


Uchi

BR

WR

Seymour Lake ER


QueticoAbitibi


Grenville Province

Separation

Lake Nipigon

Rapids Georgia Lake

Wabigoon


Lacorne/Quebec Lithium


Wawa

Thunder Bay

Lake Superior


QUEBEC ONTARIO



Subprovince names ER English River BR Bird River

WR Winnipeg River

Southern Province


Lake Michigan


Toronto


0 200

kilometres


UNITED STATES OF AMERICA


Canada 01


Figure 2 Geology of the Superior Province, Canada, showing Crescent Lake and regional lithium occurrences.


4 Argonaut Resources NL | ASX ANNOUNCEMENT

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Argentina | Australia | Bolivia | Canada | Chile | China | Georgia | United States Of America | All
Gold and Silver Prices for these countries : Argentina | Australia | Bolivia | Canada | Chile | China | Georgia | United States Of America | All

Argonaut Resources NL

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CODE : ARE.AX
ISIN : AU000000ARE9
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Argonaut is a gold and copper exploration company based in Australia.

Argonaut develops gold, copper and zinc in Australia, and holds various exploration projects in Australia and in Laos.

Its main asset in development is MT.KROOMBIT in Australia and its main exploration properties are CENTURY AREA and XEKONG in Laos and TORRENS PROJECT, LAKE TORRENS and MT PARRY in Australia.

Argonaut is listed in Australia. Its market capitalisation is AU$ 813 850 as of today (US$ 587 363, € 514 530).

Its stock quote reached its highest recent level on January 14, 2011 at AU$ 0.19, and its lowest recent point on September 26, 2022 at AU$ 0.00.

Argonaut has 813 849 984 shares outstanding.

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Corporate Presentations of Argonaut Resources NL
9/27/2007NEW REPORT SHOWS DOMESTIC GASES PRICES SET TO QUADRUPLE
Nominations of Argonaut Resources NL
4/16/2010Appointment of new director
Project news of Argonaut Resources NL
9/5/2016TORRENS PROJECT - EXPLORATION ACCESS UPDATE
2/24/2009(Century Area)launches drilling at promising Laos gold project
2/10/2009(Century Area) High grade gold results for Argonaut in Laos
11/24/2008(Mt.kroombit)announces further drill intersections from Kroombit
9/16/2008(Mt.kroombit)More strong drill results for Argonaut copper-zinc project
9/1/2008(Mt.kroombit)Copper boost for Qld project
7/9/2008(Xekong)Laos - Argonaut announces further high grade gold assays
5/13/2008(Mt.kroombit) DRILLING AT KROOMBIT TO START IN JUNE
12/14/2007Argonaut 'daughter drill hole' announcement released to the ...
10/5/2007Zinc assay results from first drill hole
Corporate news of Argonaut Resources NL
7/29/2016Quarterly Report & Appendix 5B
7/11/2016Crescent Lake Drilling Intercepts Thick Spodumene Pegmatites
6/13/2016Cleansing Notice
6/7/2016Argonaut Extends Crescent Lake Lithium Holding
6/6/2016Drilling to Commence at Crescent Lake Lithium Project
5/31/2016Results of General Meeting
4/28/2016Quarterly Report & Appendix 5B
4/19/2016Allotment of Shares Under Non-Renounceable Rights Issue
4/4/2016Dispatch of Offer Document and Acceptance Form
4/3/2016Lake Blanche Lithium Brine Target
3/23/2016Offer Document - Non-Renounceable Rights Issue
3/23/2016Non-Renounceable Rights Issue Offer
3/23/2016Cleansing Notice - Rights Issue
1/29/2016Quarterly Report and Appendix 5B
11/2/2015Lumwana West JV Update
10/30/2015Quarterly Report and Appendix 5B - including Tenement list
10/30/2015Quarterly Report and Appendix 5B
10/21/2015Notice of Annual General Meeting
10/21/2015Notice of Annual General Meeting & Proxy Form
10/21/2015Annual Report - including Shareholder Information
9/29/2015Date of Annual General Meeting
9/18/2015Corporate Governance Statement - Appendix 4G
8/20/2015Extension of Option Period - Lumwana West, Zambia
7/31/2015Quarterly Report and Appendix 5B
6/25/2015Exploration Update - Alford, South Australia
3/12/2015Half Year Accounts
1/30/2015Quarterly Report and Appendix 5B
2/26/2014Joint Venture Negotiations, Lumwana West, Zambia
9/13/2013Alta Vista Assigns Term of Exclusivity for Orofino to Argona...
3/2/2010Sydney firm wins exploration extensions in Laos
8/6/2009looks to expand Queensland zinc-copper project
7/31/2009debt free and cashed up for Qld, SA and Laos projects
7/17/2009sells Hillgrove shares
6/11/2009Maiden resource for Queensland zinc-copper project
2/13/2009NOT ASSOCIATED WITH TERRAIN MINERALS LIMITED ASSETS SALE ANN...
12/17/2008Dry Season gold exploration program underway in Laos
10/1/2008Delay in issuing audited results
7/23/2008New Laos nickel results for Argonaut
7/10/2008More Laos gold for Argonaut
4/9/2008 Bonanza grade gold hits at Argonaut's Xekong tenement in La...
11/29/2007 Final zinc-copper assays from Argonaut’s Kroombit deposit, ...
11/1/2007Drilling campaign under way at Torrens project
10/26/2007 strikes more zinc-copper at Qld project
10/17/2007New Argonaut drill results announced for Qld project
10/16/2007$12 million capital raising for Argonaut Resources (ASX: 'AR...
9/12/2007Visible zinc and copper sulphide mineralisation in Central Q...
8/9/2007Drilling starts today on zinc-copper deposit
7/30/2007Kroombit Zinc Copper Deposit
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