Argyle Announces Acquisition of Saint Gabriel Silica Project
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. (ARLYF) ha completato l'acquisizione del progetto Saint Gabriel Silica nella regione del Bas Saint-Laurent in Quebec. Il progetto comprende 23 concessioni minerarie contigue che coprono 1.312,90 ha. I termini dell'acquisizione includono un pagamento in contante di $65.000 e 300.000 azioni ordinarie a favore di Steadright Critical Minerals Inc., con le azioni soggette a restrizioni di deposito che saranno rilasciate in tre tranche uguali nell'arco di 12 mesi.
Le concessioni sono soggette a una royalty del 2% sui ricavi da fusione netti, con un’opzione per riacquistare metà per $1.500.000. Il programma di esplorazione previsto per la Fase 1 dell'azienda si concentrerà sull'identificazione di zone di silice ad alta purezza attraverso analisi XRF in campo, campionamento sistematico, verifica in laboratorio e un programma di campionamento di massa di 150 kg mirato a due zone di alta purezza.
Argyle Resources Corp. (ARLYF) ha completado la adquisición del proyecto de sílice Saint Gabriel en la región de Bas Saint-Laurent en Quebec. El proyecto consta de 23 reclamos minerales contiguos que cubren 1.312,90 ha. Los términos de la adquisición incluyen un pago en efectivo de $65.000 y 300.000 acciones ordinarias a Steadright Critical Minerals Inc., con acciones sujetas a restricciones de custodia que se liberarán en tres tramos iguales durante 12 meses.
Los reclamos están sujetos a una regalía del 2% sobre los ingresos netos de fundición, con una opción de recomprar la mitad por $1.500.000. El programa de exploración de Fase 1 de la empresa se centrará en identificar zonas de sílice de alta pureza mediante análisis XRF basado en campo, muestreo sistemático, verificación en laboratorio y un programa de muestreo masivo de 150 kg dirigido a dos zonas de alta pureza.
Argyle Resources Corp. (ARLYF)는 퀘벡의 바상로렌트 지역에 있는 생 가브리엘 규소 프로젝트의 인수를 완료했습니다. 이 프로젝트는 1,312.90헥타르에 걸쳐 23개의 인접 광물 권리를 포함합니다. 인수 조건에는 Steadright Critical Minerals Inc.에 대한 65,000 달러 현금 지불 및 300,000 주식이 포함되며, 주식은 12개월에 걸쳐 세 번에 나누어 예치 제한이 해제됩니다.
이 권리는 2%의 순광련수익 로열티를 지니며, 1,500,000 달러에 절반을 재구매할 옵션이 있습니다. 회사의 1단계 탐사 프로그램은 현장 기반의 XRF 분석, 체계적인 샘플링, 실험실 검증, 두 개의 고순도 지역을 대상으로 하는 150kg 대량 샘플링 프로그램을 통해 고순도 규소 지역을 식별하는 데 중점을 둘 것입니다.
Argyle Resources Corp. (ARLYF) a finalisé l'acquisition du projet de silice Saint Gabriel dans la région de Bas Saint-Laurent au Québec. Le projet comprend 23 concessions minières contiguës couvrant 1.312,90 ha. Les conditions de l'acquisition incluent un paiement en espèces de 65 000 $ et 300 000 actions ordinaires à Steadright Critical Minerals Inc., les actions étant soumises à des restrictions de séquestre qui seront levées en trois tranches égales sur une période de 12 mois.
Les concessions sont soumises à une redevance de 2 % sur les revenus nets de fusion, avec une option de rachat de la moitié pour 1 500 000 $. Le programme d'exploration prévu pour la phase 1 de l'entreprise se concentrera sur l'identification des zones de silice haute pureté grâce à une analyse XRF sur le terrain, à un échantillonnage systématique, à une vérification en laboratoire et à un programme d'échantillonnage en vrac de 150 kg ciblant deux zones haute pureté.
Argyle Resources Corp. (ARLYF) hat die Akquisition des Saint Gabriel Silica-Projekts in der Region Bas Saint-Laurent in Quebec abgeschlossen. Das Projekt umfasst 23 zusammenhängende minera-lische Ansprüche, die eine Fläche von 1.312,90 ha abdecken. Die Konditionen der Akquisition beinhalten eine Barzahlung von 65.000 US-Dollar und 300.000 Stammaktien an Steadright Critical Minerals Inc., wobei die Aktien für einen Zeitraum von 12 Monaten in drei gleichen Tranchen mit einem Escrow-Verfahren belegt sind.
Die Ansprüche unterliegen einer 2%igen Nettoschmelzgewinnertrags-Royalty, mit einer Option zur Rückkauf von der Hälfte für 1.500.000 US-Dollar. Das geplante Explorationsprogramm der Phase 1 des Unternehmens wird sich darauf konzentrieren, hochreine Silica-Zonen durch feldbasierte XRF-Analysen, systematische Probenahme, Laborverifizierung und ein 150-kg-Massenprobenprogramm zu identifizieren, das auf zwei hochreine Zonen abzielt.
- Strategic acquisition of 1,312.90 ha silica project in established mining region
- Structured payment terms with majority in shares, preserving cash position
- Option to reduce royalty burden by 50% through buyback provision
- Clear exploration plan with Phase 1 program already defined
- Cash outlay of $65,000 required for acquisition
- 2% NSR royalty obligation on future production
- Share dilution through issuance of 300,000 new shares
- Significant investment ($1.5M) required for partial royalty buyback
Calgary, Alberta--(Newsfile Corp. - February 4, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that it has completed the acquisition ("Acquisition") of the Saint Gabriel Silica project, which consists of 23 contiguous mineral claims (the "Claims") totalling 1,312.90 ha. located in the Bas Saint-Laurent region, Quebec, from Steadright Critical Minerals Inc. ("Steadright"), in exchange for
Jeff Stevens, CEO of Argyle stated, "We are thrilled to announce the successful acquisition of the Saint Gabriel Silica Project in Bas-Saint-Laurent Region of Quebec. The region has a long history of promising geological exploration dating back to the 1960s, when the Quebec Ministry of Mines first mapped the area's quartzite formations.". Mr. Stevens continued, "As we move into 2025, our planned Phase 1 exploration program at Saint Gabriel will focus on identifying potential high-purity silica zones to assess future development potential. This will include field-based XRF analysis to assess silica purity in real time, systematic sampling across the entire property with corresponding GPS coordinates and XRF data, laboratory verification of silica purity, and a 150kg bulk sampling program targeting two high-purity zones identified through chip sampling and XRF results. The Saint Gabriel Silica Project represents an exciting opportunity for Argyle Resources Corp., and we look forward to advancing exploration and delivering value to our shareholders."
About the Saint Gabriel Silica Project
Figure 1: Properly Location Map of Saint Gabriel Silica Project
To view an enhanced version of this graphic, please visit:
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Exploration History - Summary of Activities 1960-2023
- 1960s: Initial geological mapping by Quebec Ministry of Mines
- 1980s-1990s: Sampling and drilling programs
- 2023: Sampling by Noront Group; samples sent to ALS Laboratory in Mississauga
1991 Drill Program
The map below depicts the location of prior drilling activities in respect of the Saint Gabriel project, carried out in 1991 by Andre Liboiron.
Figure 2: 1991 Drill Hole Location Map at Saint Gabriel Silica Project
To view an enhanced version of this graphic, please visit:
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Jim McCrea P.GEO., a consultant to the Company and a Qualified Person, as such term is defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information reported in this news release.
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
ON BEHALF OF THE BOARD OF DIRECTORS
'Jeffrey Stevens'
President & CEO
For all other inquiries:
Email: info@argylresourcescorp.com
Phone: (825) 724-0033
Website: www.argyleresourcescorp.com
Forward-Looking Statements
All statements included in this press release that address activities, events or developments that Argyle expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements may involve, but are not limited to, statements with respect to the exploration and development of the Company's mineral properties. These forward-looking statements involve numerous assumptions made by Argyle based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond Argyle's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, Argyle does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239527
FAQ
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