Argonaut Resources NL

Published : November 02nd, 2015

Lumwana West JV Update

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Keywords :   Australia | Commodities | Copper | K Street | Zambia |

Lumwana West JV Update

799e6e28-3923-4f98-afa1-86da391caeef.pdf



ASX announcement

2 November 2015


Option Agreement Update - Lumwana West, Zambia

Argonaut Resources NL (ASX: ARE) (Argonaut or the Company) has received two notices from a subsidiary of Antofagasta plc (Antofagasta) in relation to an overlying option agreement between companies for the exploration and development of the Lumwana West project in Zambia (the Overlying Agreement).

Antofagasta has advised Argonaut that it has exercised its first option to acquire a 25% interest in the Lumwana West project. The interest holdings in the project is now as follows: Argonaut 65%, Antofagasta 25% and the initial shareholders 10%.

The second notice states that Antofagasta has terminated the second option under the Overlying Agreement with the effect being it will not proceed to sole fund the

second phase. Approved second phase works will be funded pro rata by Argonaut and Antofagasta. Argonaut remains the operator of the project.

Argonaut is continuing to assess its options in relation to the Lumwana West project and these include further definition of the Nyungu copper deposit and exploration of targets defined by the Company within the tenement area which are yet to be explored.

Additionally, Argonaut is in advanced negotiations with parties regarding new Zambian copper projects. The Company notes that access to quality projects is very good at this point in the commodities cycle.

Lumwana West Project

The Lumwana West project is located in the Central African Copperbelt, North-Western Province, Zambia. The area is prospective for large tonnage, low to medium grade copper deposits. There are several major mines nearby to Lumwana West that are hosted in similar geological settings.

Argonaut, via its majority held subsidiary, Mwombezhi Resources Ltd, has been successful in intercepting broad copper intercepts at the Nyungu deposit.


Lindsay Owler

Director and CEO Argonaut Resources NL



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]

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | Zambia | All
Gold and Silver Prices for these countries : Australia | Zambia | All

Argonaut Resources NL

DEVELOPMENT STAGE
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$ 1.6 millions as of today (US$ 1.2 millions, € 1.0 millions).

Its stock quote reached its highest recent level on January 14, 2011 at AU$ 0.19, and its lowest recent point on November 04, 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
10/21/2015Annual Report - including Shareholder Information
10/21/2015Notice of Annual General Meeting & Proxy Form
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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