Argyle Resources Corp. Announces Filing of 22 Mineral Lode Claims Near Bovill, Idaho
Argyle Resources Corp (OTCQB: ARLYF) has announced the filing of 22 mineral lode claims near Bovill, Idaho, through its exploration partner Rangefront Mining Services. The claims, collectively named the Bovill Silica Project, are located in an area known for silica and feldspar deposits, including a historical feldspar quarry.
The company has completed a non-brokered private placement raising $300,000 through the issuance of 555,555 units at $0.54 per unit. Each unit includes one common share and one warrant exercisable at $0.65 for 24 months. Additionally, Argyle has granted 600,000 stock options to a consultant and 1,250,000 restricted share units to directors, officers, and consultants.
Argyle Resources Corp (OTCQB: ARLYF) ha annunciato il deposito di 22 richieste di concessione mineraria vicino a Bovill, Idaho, attraverso il suo partner di esplorazione Rangefront Mining Services. Le concessioni, collettivamente denominate Progetto Silice di Bovill, si trovano in un'area nota per i depositi di silice e feldspato, inclusa una storica cava di feldspato.
L'azienda ha completato un collocamento privato non intermedia raccogliendo 300.000 dollari attraverso l'emissione di 555.555 unità a 0,54 dollari per unità. Ogni unità include un'azione comune e un warrant esercitabile a 0,65 dollari per 24 mesi. Inoltre, Argyle ha concesso 600.000 opzioni su azioni a un consulente e 1.250.000 unità di azioni vincolate a direttori, funzionari e consulenti.
Argyle Resources Corp (OTCQB: ARLYF) ha anunciado la presentación de 22 reclamaciones mineras cerca de Bovill, Idaho, a través de su socio de exploración Rangefront Mining Services. Las reclamaciones, denominadas colectivamente Proyecto de Sílice Bovill, se encuentran en un área conocida por sus depósitos de sílice y feldespato, incluyendo una cantera histórica de feldespato.
La empresa ha completado un colocación privada no intermediada recaudando 300.000 dólares mediante la emisión de 555.555 unidades a 0,54 dólares por unidad. Cada unidad incluye una acción común y una opción de compra ejercitable a 0,65 dólares durante 24 meses. Además, Argyle ha otorgado 600.000 opciones sobre acciones a un consultor y 1.250.000 unidades de acciones restringidas a directores, funcionarios y consultores.
Argyle Resources Corp (OTCQB: ARLYF)는 탐사 파트너인 Rangefront Mining Services를 통해 Idaho주 Bovill 근처에 22개의 광물 채굴 청구권을 제출했다고 발표했습니다. 이 청구권은 Bovill 실리카 프로젝트라는 이름으로 통칭되며, 실리카 및 장석 매장지로 알려진 지역에 위치하고 있으며, 역사적인 장석 채석장이 포함되어 있습니다.
회사는 중개인 없는 사모 배급을 완료하여 555,555개 유닛을 유닛당 0.54달러에 발행하여 300,000달러를 모금했습니다. 각 유닛에는 하나의 보통주와 24개월 동안 0.65달러에 행사 가능한 하나의 워런트가 포함되어 있습니다. 또한, Argyle는 컨설턴트에게 600,000개의 주식 옵션을 부여하고, 이사, 임원 및 컨설턴트에게 1,250,000개의 제한 주식 유닛을 부여했습니다.
Argyle Resources Corp (OTCQB: ARLYF) a annoncé le dépôt de 22 revendications minières près de Bovill, Idaho, par l'intermédiaire de son partenaire d'exploration Rangefront Mining Services. Les revendications, collectivement appelées Projet Silice de Bovill, sont situées dans une zone connue pour ses dépôts de silice et de feldspath, y compris une carrière historique de feldspath.
L'entreprise a complété un placement privé sans courtier levant 300.000 dollars par l'émission de 555.555 unités à 0,54 dollar par unité. Chaque unité comprend une action ordinaire et un bon de souscription exerçable à 0,65 dollar pendant 24 mois. De plus, Argyle a accordé 600.000 options d'achat d'actions à un consultant et 1.250.000 unités d'actions restreintes à des directeurs, des dirigeants et des consultants.
Argyle Resources Corp (OTCQB: ARLYF) hat die Einreichung von 22 mineralischen Lode-Anträgen in der Nähe von Bovill, Idaho, über seinen Explorationpartner Rangefront Mining Services angekündigt. Die Anträge, die gemeinsam als Bovill Silica Project bezeichnet werden, befinden sich in einem Gebiet, das für Silizium- und Feldspatvorkommen bekannt ist, einschließlich eines historischen Feldspatbruchs.
Das Unternehmen hat eine nicht vermittelte Privatplatzierung abgeschlossen und 300.000 Dollar durch die Ausgabe von 555.555 Einheiten zu je 0,54 Dollar pro Einheit gesammelt. Jede Einheit umfasst eine Stammaktie und ein Warrent, das für 24 Monate zu 0,65 Dollar ausgeübt werden kann. Darüber hinaus hat Argyle 600.000 Aktienoptionen an einen Berater und 1.250.000 eingeschränkte Aktieneinheiten an Direktoren, Führungskräfte und Berater vergeben.
- Strategic acquisition of 22 mineral claims in proven silica/feldspar region
- Successful completion of $300,000 private placement
- Historical feldspar quarry included in claim area
- Share dilution through private placement and RSU/options grants
- Claims still pending BLM approval with 6-week wait period
- No immediate revenue generation from early-stage exploration claims
Calgary, Alberta--(Newsfile Corp. - March 7, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to announce that its exploration partner, Rangefront Mining Services ("Rangefront"), has filed 22 mineral lode claims on the Company's behalf with the U.S. Bureau of Land Management (BLM) near Bovill, Idaho. The Company is naming these consolidated claim blocks, the Bovill Silica Project.
Figure 1: Claim Map of the Bovill Silica Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/243652_087644a154ba5b08_001full.jpg
The newly staked claims are strategically located in a region known for its rich deposits of silica and feldspar. Notably, a portion of the newly staked claims includes a historical feldspar quarry, further supporting the prospectivity of the site.
Figure 2: Historical Mines and Prospects in the Bovill Region
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/243652_087644a154ba5b08_002full.jpg
The 22 lode claims have been submitted to the BLM for application processing, with finalization expected within approximately six weeks. Argyle and Rangefront will continue to evaluate the potential of the claims and explore opportunities to advance the project in alignment with the Company's strategic growth initiatives.
"We are excited about the acquisition of these new claims, which add to our expanding portfolio of mineral assets," said Jeff Stevens, CEO of Argyle Resources Corp. "The historical mining activity in the region, coupled with our technical team's expertise, presents a strong opportunity to unlock value from these properties."
The Company will provide further updates as the permitting process advances and as exploration activities commence on the claims.
The Company is pleased to announce that it has closed its previously-announced non-brokered private placement (please see news release dated December 12, 2024, for aggregate gross proceeds of
The Company intends to use the net proceeds of the Offering for expenditures on its mineral exploration properties, and for general working capital purposes.
All securities issued under the Offering are subject to a four-month and one-day hold period.
The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
The Company also announces it has granted 600,000 stock options ("Options") to a consultant of the Company, pursuant to its equity incentive Plan, and has granted 1,250,000 restricted share units ("RSUs") to certain directors, officers and consultants of the Company.
George M. Yordanov, OGQ., P.GEO., a consultant to the Company, is the Qualified Person (as such term is defined in National Instrument 43-101), who has reviewed and approved the scientific and technical disclosure contained in this news release.
About Rangefront Mining Services
Rangefront Mining Services is a leading provider of geological and exploration services, specializing in claim staking, permitting, and mineral assessment to support mining companies in advancing their projects.
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 and the use of proceeds from the Offering. 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/243652
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