Argyle Resources Completes IP Surveying at the Frenchvale Graphite Property, Nova Scotia

Rhea-AI Summary

Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) has completed an Induced Polarization (IP) geophysical survey at its Frenchvale Graphite Property in Nova Scotia. The 13.5-line-kilometer survey covered an area of historic drilling, which identified an 800-meter trend of marble-hosted graphite. Preliminary results show a 900-meter wide zone of very high chargeability responses, suggesting several sub-parallel mineralized horizons.

The final geophysical survey report, including 3D numerical inversions, will be combined with historical data to guide an upcoming drill program. Drilling notifications have been submitted, with approvals expected within a week. A drill contractor has been selected and is ready to start by the end of September.

Argyle emphasizes the importance of identifying domestic graphite sources, especially following China's 2023 ban on natural graphite exports. The company aims to contribute to supply chain stability and economic growth in response to increasing demand for this critical mineral.

Calgary, Alberta--(Newsfile Corp. - September 24, 2024) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce completion of an Induced Polarization ("IP") geophysical survey at its Frenchvale Graphite Property (the "Property") in Nova Scotia. The IP survey was conducted over an area of historic drilling which has identified an 800-meter trend of marble-hosted graphite, extending to over one kilometer with surface mapping. Results of the 13.5-line-kilometer IP survey are being finalized by the Company's consulting geophysicist and are expected within one week.

The Company's consulting geophysicist designed the IP survey which used a dipole-dipole array with eight potential 25 metre-wide dipoles. This configuration is expected to provide good resolution of near-surface geology while contrasting highly-resistive silicious marble horizons with highly-conductive graphitic zones in the marble.

Preliminary IP results show a 900-meter wide zone of very high chargeability responses, oriented northeast-southwest (Figure 1). These strong IP anomalies are weakly to strongly conductive, suggesting several sub-parallel mineralized horizons. The historical drill holes fall into this large and strong IP zone but the new survey also highlights many untested areas of interest with stronger IP responses.

The final geophysical survey report will include 3D numerical inversions. Results will be combined with compiled historical Property data to direct an upcoming drill program that will target graphite-rich horizons within the marble. Drilling notifications have been submitted to government agencies with approvals expected within one week. A drill contractor has been selected and is available to commence drilling by the end of September.

Figure 1: Resistivity Model for Frenchvale Graphite Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/224331_1e5f95bac428da97_001full.jpg

Figure 2: Chargeability Model for Frenchvale Graphite Project

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https://images.newsfilecorp.com/files/10451/224331_1e5f95bac428da97_002full.jpg

Argyle believes the 2023 ban on the exportation of natural graphite from China has heightened the importance of identifying domestic sources of natural graphite. The mineral is now considered critical in many jurisdictions including the United States, Canada, and Nova Scotia owing to its crucial role as a component of batteries and fuel cells. The Company is strategizing around this increasing demand while aiming to contribute to supply chain stability and economic growth.

ON BEHALF OF THE BOARD OF DIRECTORS

'Jeffrey Stevens'
President & CEO

Qualified Person

Marc Boivin (P.Geo), a consulting geophysicist for the Company and considered an independent Qualified Person in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical material contained in this news release.

For a discussion of the Company's QA/QC and data verification processes and procedures, please see its technical report entitled, Frenchvale Graphite Property NI 43-101, dated December 11, 2023, which is available under the Company's profile at www.sedarplus.ca.

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. The Company currently holds an option to acquire up to 100% of the Frenchvale Graphite Property located in Nova Scotia, Canada and owns 100% interest in the Pilgrim Islands, Matapedia and Lac Comporté quartzite silica projects in Quebec, Canada. Argyle is engaged in a research partnership with the National Institute of Scientific Research (INRS), a high-level research and training institute funded by the Québec government to conduct exploration programs on the Company's silica projects. The Company was incorporated in 2023 and its head office is located in Calgary, Alberta, Canada.

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 are forward-looking statements that involve risks and uncertainties. Such statements in this news release include, but are not limited to, the statements with respect to the expected IP survey resolution and results, expected government approvals, theCompany's planned exploration program; the initiation of work programs generally and the Company's contribution to the supply chain and economic growth. There can be no assurance that such statements will prove to be accurate and actual results and future events could di fer materially from those anticipated in such statements. Important 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. 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 only 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 and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224331

FAQ

What did Argyle Resources' recent IP survey at Frenchvale Graphite Property reveal?

The IP survey revealed a 900-meter wide zone of very high chargeability responses, suggesting several sub-parallel mineralized graphite horizons within the marble host rock.

When is Argyle Resources (ARLYF) planning to start drilling at the Frenchvale Graphite Property?

Argyle Resources plans to commence drilling by the end of September 2024, pending government approvals which are expected within a week.

How has China's 2023 ban on natural graphite exports affected Argyle Resources' strategy?

The ban has heightened the importance of identifying domestic graphite sources, prompting Argyle Resources to focus on contributing to supply chain stability and economic growth in response to increasing demand.

What is the significance of the graphite trend identified at Argyle Resources' Frenchvale Property?

The property has an 800-meter trend of marble-hosted graphite, extending to over one kilometer with surface mapping, indicating potential for significant graphite mineralization.