Australia

Argonaut Resources shares surge after securing operational approval for Murdie Project

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Argonaut Resources NL (ASX:ARE) has secured the approval of the environmental and operational plan for its Murdie Project from the South Australian Government.

The company is planning to conduct ground gravity surveys and deep exploration drilling at the Murdie Project. Drilling will target some of the most compelling copper exploration targets in Australia.

Lake Torrens exploration licences

Argonaut chief executive officer Lindsay Owler said: “The approval of our environmental and operational plan is major step towards the discovery of copper by Argonaut in the Eastern Gawler Craton.

“The project includes numerous large gravity targets that are analogous to BHPs nearby Oak Dam discovery.

“The discovery rate from gravity anomalies in this area is so high that none should go undrilled.”

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Gravity targets and exploration domains

This is the second of three approvals required to undertake a major drilling program targeting Iron Oxide Copper-Gold (IOCG) deposits at Murdie.

Argonaut will now lodge an application under the South Australian Aboriginal Heritage Act.

This application seeks authorisation in the same terms as two authorisations previously granted for the neighbouring Torrens project.

Argonaut expects that the Minister for Aboriginal Affairs and ReconcilRead More – Source