Argyle Announces Option to Acquire Clay Howell Rare Earths Project
Argyle Resources has secured an option agreement to acquire a 100% interest in the Clay Howell Rare Earths project in northern Ontario, Canada. The project, located 50 km north-northeast of Kapuskasing, consists of 10 contiguous mining claims covering 160 hectares.
The property has a history of exploration, with significant drilling campaigns in 2010-2011 totaling 7,586.5 meters across multiple holes. The site is easily accessible via all-weather roads and features a historical camp setup.
The acquisition terms include:
- Total cash payments of CAD $84,000 over three years
- 320,000 common shares issued in two installments
- 1.5% NSR royalty with a buyback option to 1% for $500,000
The project is situated within the Clay-Howells Alkalic Rock Complex, comprising syenitic rocks intruding Early Precambrian aged gneisses, with potential for Niobium and Rare Earth Element mineralization.
Argyle Resources ha ottenuto un accordo di opzione per acquisire il 100% dell'interesse nel progetto Clay Howell Rare Earths nel nord dell'Ontario, Canada. Il progetto, situato a 50 km a nord-nordest di Kapuskasing, comprende 10 concessioni minerarie contigue che coprono 160 ettari.
La proprietà ha una storia di esplorazione, con campagne di perforazione significative nel 2010-2011 per un totale di 7.586,5 metri distribuiti su più fori. Il sito è facilmente accessibile tramite strade percorribili tutto l'anno e dispone di un campo storico attrezzato.
I termini dell'acquisizione includono:
- Pagamenti in contanti totali di 84.000 CAD distribuiti su tre anni
- Emissione di 320.000 azioni ordinarie in due tranche
- Royalty NSR dell'1,5% con opzione di riacquisto a 1% per 500.000 $
Il progetto si trova all'interno del Complesso Roccioso Alcalico Clay-Howells, costituito da rocce sienitiche che intrudono gneiss di età Precambriana Antica, con potenziale per mineralizzazioni di Niobio e Terre Rare.
Argyle Resources ha asegurado un acuerdo de opción para adquirir el 100% de interés en el proyecto Clay Howell Rare Earths en el norte de Ontario, Canadá. El proyecto, ubicado a 50 km al norte-noreste de Kapuskasing, consta de 10 concesiones mineras contiguas que cubren 160 hectáreas.
La propiedad tiene un historial de exploración, con campañas de perforación significativas en 2010-2011 que totalizaron 7,586.5 metros en múltiples taladros. El sitio es fácilmente accesible a través de carreteras transitables todo el año y cuenta con un campamento histórico instalado.
Los términos de la adquisición incluyen:
- Pagos en efectivo totales de 84,000 CAD durante tres años
- 320,000 acciones comunes emitidas en dos cuotas
- Regalía NSR del 1.5% con opción de recompra al 1% por 500,000 $
El proyecto se sitúa dentro del Complejo Rocoso Alcalino Clay-Howells, compuesto por rocas sieníticas que intruyen gneises de edad Precámbrica Temprana, con potencial para mineralización de Niobio y Elementos de Tierras Raras.
Argyle Resources는 캐나다 온타리오 북부에 위치한 Clay Howell 희토류 프로젝트의 100% 지분을 인수할 수 있는 옵션 계약을 체결했습니다. 이 프로젝트는 Kapuskasing에서 북북동으로 50km 떨어진 곳에 위치하며, 160헥타르에 걸친 10개의 인접한 광산 권리로 구성되어 있습니다.
이 부지는 탐사 이력이 있으며, 2010-2011년에 총 7,586.5미터의 다수 시추공에서 대규모 시추 캠페인이 진행되었습니다. 현장은 연중 무휴 도로로 쉽게 접근 가능하며, 과거 캠프 시설이 갖추어져 있습니다.
인수 조건은 다음과 같습니다:
- 3년에 걸쳐 총 84,000 캐나다 달러 현금 지급
- 두 차례에 걸쳐 320,000 보통주 발행
- 1.5% NSR 로열티, 50만 달러에 1%로 환매 옵션 포함
이 프로젝트는 초기 선캄브리아기 변성암에 시닉 암석이 관입한 Clay-Howells 알칼리 암석 단지 내에 위치하며, 니오븀과 희토류 원소 광화 가능성이 있습니다.
Argyle Resources a obtenu un accord d'option pour acquérir 100 % des intérêts dans le projet Clay Howell Rare Earths dans le nord de l'Ontario, Canada. Le projet, situé à 50 km au nord-nord-est de Kapuskasing, comprend 10 concessions minières contiguës couvrant 160 hectares.
La propriété possède un historique d'exploration, avec d'importantes campagnes de forage en 2010-2011 totalisant 7 586,5 mètres sur plusieurs trous. Le site est facilement accessible par des routes praticables toute l'année et dispose d'un camp historique installé.
Les conditions d'acquisition incluent :
- Des paiements en espèces totalisant 84 000 CAD sur trois ans
- 320 000 actions ordinaires émises en deux versements
- Une redevance NSR de 1,5 % avec option de rachat à 1 % pour 500 000 $
Le projet est situé dans le complexe rocheux alcalin Clay-Howells, composé de roches syénitiques intrusives dans des gneiss précambriens précoces, avec un potentiel de minéralisation en niobium et éléments des terres rares.
Argyle Resources hat eine Optionsvereinbarung zum Erwerb eines 100%igen Anteils am Clay Howell Rare Earths Projekt im Norden Ontarios, Kanada, gesichert. Das Projekt liegt 50 km nordnordöstlich von Kapuskasing und umfasst 10 zusammenhängende Bergbaurechte mit einer Fläche von 160 Hektar.
Das Grundstück verfügt über eine Explorationsgeschichte mit bedeutenden Bohrkampagnen in den Jahren 2010-2011, die insgesamt 7.586,5 Meter über mehrere Bohrlöcher umfassen. Der Standort ist über ganzjährig befahrbare Straßen leicht zugänglich und verfügt über ein historisches Lager.
Die Erwerbsbedingungen umfassen:
- Gesamtzahlungen in bar von 84.000 CAD über drei Jahre
- 320.000 Stammaktien, ausgegeben in zwei Tranchen
- 1,5% NSR-Royalty mit Rückkaufoption auf 1% für 500.000 $
Das Projekt befindet sich im Clay-Howells Alkaligesteinskomplex, der aus syenitischen Gesteinen besteht, die in frühpräkambrianische Gneise eindringen, mit Potenzial für Niob- und Seltene-Erden-Mineralisierungen.
- Option to acquire 100% interest in Clay Howell Rare Earths project in strategic Ontario location
- Project has existing infrastructure with easy access via all-weather road
- Historical drilling data available from 2010-2011 campaigns (7,586.5m total)
- Favorable payment structure with modest initial cash outlay ($12,000) and staged payments over 3 years
- Company has right to reduce NSR from 1.5% to 1% for $500,000
- Total cash commitment of CAD $84,000 plus 320,000 shares required for acquisition
- No current resource estimates or grades mentioned from historical drilling
- Additional 1.5% NSR royalty burden on future production
- Project size relatively small at only 160 hectares
Calgary, Alberta--(Newsfile Corp. - April 30, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that it has entered into an option agreement ("Option Agreement") pursuant to which it may acquire a
The Project is located in northern Ontario, Canada, roughly 50 km north-northeast of the town of Kapuskasing, and is defined by 10 contiguous mining claims spanning a total of 160ha. The mining claims and patents can be easily accessed by 4×4 pick-up truck using an all-weather access road from Kapuskasing and an abandoned logging road named CSR-8. 2010 and 2011 drilling activities were staged from a camp located at UTM coordinates 4213982E and 5522864N (Zone 17, NAD 83.)
The Clay-Howells Alkalic Rock Complex is comprised of 2 broad types of silica over-saturated syenitic rocks intruding a sequence of Early Precambrian aged paragneisses and orthogneisses that have been regionally metamorphosed to the upper amphibolite - granulite facies typical of the Kapuskasing Sup-Province (Sage, 1988).
Diamond drilling activities were conducted on the Clay-Howells Property from January 16th, 2010 to March 30th, 2010. Norex Drilling Ltd. was contracted to build a camp on the property as well as conduct the drilling operations.
Eighteen drill holes were completed within the carbonatite - magnetite zone to test Niobium - Rare Earth Element mineralization at depth. A total of 5432.5 metres of core was recovered and 1825 samples were collected.
Following the 2010 drill program, an eight-hole diamond drill program program was initiated in early 2011 to test other magnetic anomalies within the 110 km² carbonatite complex. Roughly 2,154 m were drilled and 235 samples were sent for assaying. Several high priority magnetic zones located outside of the main Clay-Howells deposit were tested. Of the 2010 and 2011 drill programs, 6 drill holes, Ch-08, CH-11-03, CH-11-04, CH-11-05, CH-11-06 and CH-11-07 fall within the current Clay Howell Project acquired by Argyle.
Figure 1: Clay Howell REE project and historical drill hole location map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/250253_d840be31f4514a41_002full.jpg
Under the terms of the Option Agreement, the Company may acquire the Project, subject to the NSR, by making the following cash and share payments to the vendors ("Vendors"):
| Due Date | Common Share Payments | Cash Payment (CAD) |
| Upon signing the Option Agreement ("Effective Date") | - | |
| Within 7 business days of the Effective Date | 160,000 | - |
| On the 1st anniversary of the Effective Date of the Option | 160,000 | |
| On the 2nd anniversary of the Effective Date | - | |
| On the 3rd anniversary of the Effective Date | - | |
| Total | 320,000 |
The Company notes that the NSR is subject to a buyback right in favour of the Company, under which the Company may reduce the NSR to
Qualified Person
George Yordanov, P.Geo., Director, reviewed and approved the scientific and technical information disclosed in this press release, acting as the Company's Qualified Person as defined by National Instrument 43-101.
About Argyle Resources Corp.
Argyle Resources Corp. is a junior mineral exploration company engaged in the business of acquiring, exploring, staking and evaluating natural resource properties in North America. In addition to the Saint Gabriel project, the Company currently holds an option to acquire up to
For all other inquiries:
Email: info@argylresourcescorp.com
Phone: (825) 724-0033
Website: www.argyleresourcescorp.com
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release such as statements regarding the acquisition of the Project and receipt of regulatory approval are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include but are not limited to the risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company.
Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's business include, among other things, that mineral exploration is inherently uncertain and may be unsuccessful in achieving the desired results; that mineral exploration plans may change and be re-defined based on a number of factors, many of which are outside of the Company's control; the Company's ability to access sources of debt and equity capital; competitive factors, pricing pressures and supply and demand in the Company's industry. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250253
FAQ
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