Argyle Resources Corp. (ARLYF) reports exploration and project updates for a junior mineral exploration company focused on natural resource properties in North America. Its recurring news covers the company's 100%-owned Pilgrim Islands, Matapédia, Lac Comporté and Saint Gabriel quartzite-silica projects in Québec, as well as option activity at the McKay Hill silver-gold property in Yukon.
Company updates typically address permits, diamond drilling, prospecting, sampling, laboratory analysis, silica characterization work, National Instrument 43-101 technical reporting and changes to mineral-property option agreements. Argyle's releases also describe its collaboration with the National Institute of Scientific Research on silica exploration programs and portfolio changes such as the terminated Clay Howells rare earth option.
Argyle Resources Corp. (ARLYF) has completed the first tranche of its non-brokered private placement, raising $869,400 through the issuance of 2,070,000 units at $0.42 per unit. Each unit consists of one common share and one warrant, with warrants exercisable at $0.53 per share for 24 months from closing.
The company paid $26,844 in finder's fees and issued 64,200 finder warrants, exercisable at $0.53 for 24 months. Proceeds will fund expenditures on Quebec properties and working capital. Securities are subject to a four-month and one-day hold period and are not registered under U.S. Securities Act.
Argyle Resources Corp. (ARLYF) has completed the acquisition of the Saint Gabriel Silica project in Quebec's Bas Saint-Laurent region. The project comprises 23 contiguous mineral claims covering 1,312.90 ha. The acquisition terms include a $65,000 cash payment and 300,000 common shares to Steadright Critical Minerals Inc., with shares subject to escrow restrictions releasing in three equal tranches over 12 months.
The claims are subject to a 2% net smelter returns royalty, with an option to repurchase half for $1,500,000. The company's planned Phase 1 exploration program will focus on identifying high-purity silica zones through field-based XRF analysis, systematic sampling, laboratory verification, and a 150kg bulk sampling program targeting two high-purity zones.
Argyle Resources Corp (CSE: ARGL) (OTCQB: ARLYF) has announced plans for a non-brokered private placement offering. The company aims to raise approximately $1 million through the sale of units priced at $0.42 per unit.
Each unit consists of one common share and one common share purchase warrant. The warrant holders will have the right to purchase one common share at $0.53 for a 24-month period. The securities will not be registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States without registration or applicable exemptions.
Argyle Resources has successfully closed its non-brokered private placement, raising gross proceeds of $1,002,500.14 through the issuance of 1,855,926 FT Units at $0.54 per unit. Each unit comprises one common share and one purchase warrant, allowing holders to buy additional shares at $0.65 within 24 months.
The FT Shares qualify as 'flow through shares' under the Income Tax Act (Canada). Proceeds will be used for Canadian exploration expenses qualifying as 'flow-through critical mineral mining expenditures', which the company plans to renounce to subscribers per Tax Act requirements.
Argyle Resources Corp (CSE: ARGL, OTCQB: ARLYF) announces two non-brokered private placement offerings. The first is a flow-through (FT) private placement of units at $0.54 per unit, aiming to raise up to $1,000,000. Each FT unit includes one share and one warrant exercisable at $0.65 for 24 months. The second is a concurrent private placement at the same price per unit, targeting up to $300,000 in proceeds.
Both offerings are expected to close around December 20th, 2024, subject to regulatory approvals. Securities will have a four-month hold period. The FT shares qualify as flow-through shares under the Income Tax Act (Canada), with proceeds intended for Canadian exploration expenses. The company plans to use the funds to advance its exploration activities.
Argyle Resources Corp. has completed comprehensive field exploration work at its Matapedia Silica Project in St. Moise, Quebec, in partnership with INRS. The program included geological mapping, geochemical sampling, and petrophysical testing. Key activities involved verification of outcrops, gamma spectrometric analysis, lithogeochemical sampling, and collection of 400 samples (15-20 lbs each) for particle size studies. Additionally, a 150 kg sample of high-purity quartzite was collected for further analysis. The exploration work spanned seven weeks across three field interventions in 2024. Airborne drone imagery has been postponed to spring 2025 due to poor weather conditions.
Argyle Resources Corp. has closed a non-brokered private placement, raising approximately $999,998.65 through the issuance of 1,176,469 units at $0.85 per unit. Each unit includes one common share and one purchase warrant, allowing holders to buy a common share at $1.05 within 24 months. The shares qualify as 'flow through shares' under the Income Tax Act (Canada), with proceeds intended for Canadian exploration expenses that qualify as flow-through mining expenditures, which will be renounced to unit purchasers.
Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) announces a non-brokered private placement of flow-through units at $0.85 per unit, aiming to raise up to $1,000,000. Each unit includes one common share and one warrant, with warrants exercisable at $1.05 for 24 months. The flow-through shares qualify under the Income Tax Act (Canada), with proceeds intended for Canadian exploration expenses. The placement is expected to close around November 22, 2024, subject to regulatory approvals, with securities having a four-month hold period.
Argyle Resources (CSE: ARGL) (OTCQB: ARLYF) has entered into a definitive agreement to acquire the Saint Gabriel Silica project from Steadright Critical Minerals. The project consists of 23 contiguous mineral claims in Quebec's Bas Saint-Laurent region. The acquisition terms include $65,000 in cash and 300,000 common shares, with shares subject to escrow restrictions releasing in three tranches over 12 months. The claims carry a 2% net smelter returns royalty, half of which can be repurchased for $1,500,000. Argyle plans to deploy a technical team to commence initial exploration at Saint Gabriel.
Argyle Resources (ARLYF) provides an update on its pilot processing facility in St-Lambert-de-Lauzon, Quebec. The facility has been equipped with three key pieces of equipment from INRS: a ball mill for crushing quartzite, a sieving machine for particle analysis, and a hydraulic shaking table for mineral separation.
Starting November 2024, the company plans to process 200 kg bulk samples from the Matapedia project to produce high-grade metallurgical silica for potential use in solar panels, semiconductor chips, and EV battery manufacturing. The facility's strategic location near INRS campus and silica exploration properties will optimize processing efficiency and enable real-time testing.