Argonaut Resources annoucnes new gold drill targets identified at Xekong in Laos
Five new gold drill targets peripheral to the Ban Klong gold discovery identified
Drilling planned to confirm potential additional, near surface gold mineralisation in adjacent areas.
Previous results included: 6m at 26.2g/t gold from 22m.
Rock chip sampling south of Ban Klong support potential of new drill targets - up to 10.95g/t gold revealed.
Ban Bak South West
Possible skarn style, polymetallic (gold, silver, lead and zinc) mineralisation identified in calcareous sediments adjacent to a major porphyry intrusion.
Exploration planned for November/December 2011 to define RC drill targets.
Argonaut Resources NL (ASX: ARE) is pleased to announce that five additional drill target zones peripheral to the gold discovery at Ban Klong (Figure 1) and a possible polymetallic skarn (Figure 2) have been identified in the Ban Bak area on Argonaut's 65% held Xekong concession in southern Laos.
Ban Klong Extensions
The initial RC drilling program at Ban Klong returned drill intercepts including 6m at 26.2g/t gold from 22m in drill hole BBRC31; 12m at 3.48g/t gold from 10m in drill hole BBRC24; and 8m at 4.45g/t gold from 0m in drill hole BBRC22. These results were announced on 15 July 2011.
Following receipt of these results, Argonaut commenced a program of sampling aimed at identifying extensions to the magnitude of the Ban Klong anomaly as well as additional mineralised zones peripheral to the Ban Klong and Ban Bak Central anomalies. The program succeeded in delineating five new target zones for drill testing in the upcoming Laotian dry season.
Of the five new target zones, three that are located south of the Ban Klong discovery are supported by rock chip sampling with gold up to 10.95g/t in recently acquired rock chip samples.
Four of the five target zones are supported by high order (>0.5g/t gold) soil samples.
Drill intercepts cited in Figure 1 and the text of the report may not represent true widths of mineralised bodies. Additional drill hole data is required to properly determine the geometry and dimensions of any potentially economic mineralisation.
Ban Bak South West
Argonaut previously identified a low priority gold/base metal target in the southwestern corner of the broader Ban Bak area. Recent sampling has substantially elevated the ranking of this target.
The target sits on the margin of a confirmed porphyry intrusion, which is interpreted by Argonaut geologists to be the intrusive centre of the various porphyry elements found across the Ban Bak area. The company is also conscious that many surrounding sedimentary units are calcareous, thus creating the ideal geological setting for formation of skarn style mineral deposits.
Recent work has identified possible skarn style mineralisation at Ban Bak South West as well as polymetallic veining with rock chip sampling returning gold, silver, lead and zinc (+/- copper) grades of up to 1,100g/t silver and 24% lead
The company will follow up on these encouraging results in November on December 2011 with a program of exploration work designed to better define targets for RC drilling.
