Argonaut’s Private Placement Raises $1.28 million
We have successfully completed a Share Placement to professional and sophisticated investors to raise A$1.28 million for Argonaut Resources NL. Argonaut Resources is an ASX listed mineral exploration and development company with copper, zinc and gold projects in Australia and Zambia. The Placement was well supported and surpassed the target raising of $1 million.
Fast-track Gold Drilling
The funds raised this week will allow Argonaut to fast-track drilling at the Island gold prospect near Higginsville, Western Australia. The Island target is located on-trend with the primary Higginsville gold deposits and sits over a major structural intersection. Argonaut expects the drilling of 15 to 20 RC holes to commence during June 2020.
“Argonaut will also execute several ground gravity surveys over discrete airborne gravity anomalies at the Murdie copper project in South Australia. The ground gravity data will provide the most accurate gravity data for final modelling and targeting prior to drilling planned to start following the grant of the final authorisation.” Lindsay Owler, Managing Director and CEO
Promising returns in an unusual time
The Argonaut board sincerely thanks those who have contributed to this capital raising and it looks forward to delivering exploration results that drive the Company’s share price during this unusual but exciting time in the junior resources sector.
“We are pleased to continue our long relationship with Argonaut and its team. Whilst it is a difficult environment for juniors the Higginsville prospect is exciting and attracted both existing shareholder and new investor support” Paul Young, Henslow, Managing Director