Argyle Announces Acquisition of Saint Gabriel Silica Project
Argyle Announces Acquisition of Saint Gabriel
Silica Project
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 $65,000 in cash and 300,000 common
shares of the Company (the "Consideration Shares"). The Consideration Shares are subject to escrow
restrictions under which 100,000 of the Consideration Shares will be released 4 months and 1 day
following closing of the Acquisition ("Closing"), 100,000 Consideration Shares will be released 6 months
following Closing, and the remaining 100,000 Consideration Shares will be released 12 months
following Closing.
The Company notes that the Claims are subject to a 2% net smelter returns royalty (the
"Royalty"), one-half of which may be re-purchased by payment of $1,500,000.
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:
https://images.newsfilecorp.com/files/10451/239527_201afdc9d4ef28f4_001full.jpg
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:
https://images.newsfilecorp.com/files/10451/239527_201afdc9d4ef28f4_002full.jpg
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 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.
ON BEHALF OF THE BOARD OF DIRECTORS
'Jeffrey Stevens'
President & CEO
For all other inquiries:
Email:
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
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