Argyle Resources Corp. Acquires Silica Project in Quebec
Argyle Resources Corp. Acquires Silica
Project in Quebec
Calgary, Alberta--(Newsfile Corp. - June 21, 2024) -
Argyle Resources Corp
.
(CSE: ARGL)
("
Argyle
"
or the "
Company
") is thrilled to announce the acquisition of the Matapedia, Lac Comporte and Pilgrim
Island Quartzite Silica projects located in Québec (the "
Property
"). The Company acquired a 100%
interest in the Property from Charlevoix Silica Inc. ("
Charlevoix
") pursuant to the terms of an acquisition
agreement dated April 15, 2024, for consideration of $150,000CAD and the issuance of 750,000
common shares of Argyle.
Silica, or Silicon Dioxide, is a chemical compound with the chemical formula SiO2.
It is predominantly
found naturally in quartz and various living organisms.
Silica is a critical component of sand in numerous
parts of the world and belongs to one of most extensive and intricate material families.
Silica has
multiple uses across various industries, such as glass production, microelectronics, semiconductors,
pharmaceuticals and photovoltaic solar cells.
There are also technologies exploring the use of silicon to
replace the current anode component of Lithium Ion batteries. In July 2023, the US Department of Energy
added silicon and silicon carbide to the list of Critical Materials for Energy.
The Matapedia silica property includes 16 cells located in the lower St. Lawrence area, some 36 km
from the coastal village of Grand-Métis (Figure 1). The Matapedia silica property covers an area of
912.8 hectares. Access to the property is easy via gravel municipal roads in the parish of Sainte-Moïse.
What makes this property particularly interesting is the presence of: silica, limestone, and aluminous
claystones close together. This combination could be strategic for specific industrial applications. The
presence of regional port infrastructure and the railway are positive factors in allowing the export of
industrial minerals to the Great Lakes or to the eastern USA.
Figure 1 : Property location map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10451/213879_c9e576088450b916_001full.jpg
The Lac Comporte Project encompasses 1,945 hectares across 33 claims in the regional county
municipality ("
RCM
") of Charlevoix-Est, located on the north shore of the St. Lawrence River near La
Malbaie (Figure 1). The industrial potential of this showing will be explored in detail.
The Pilgrim Islands Project encompasses 810 hectares across 15 claims in the RCM of Kamouraska on
the south shore of the St. Lawrence and more precisely in the St-André-de-Kamouraska sector is
represented by Ile les Pèlerins quartzite showing (Figure 1).
Argyle will execute an exploration campaign in collaboration with the National Institute of Scientific
Research ("
INRS
"), to evaluate the mineral potential of the above-mentioned properties. The exploration
and the analytical works are expected to include: Geophysical surveys, geological mapping, channel
sampling, bulk sampling, granulochemical and geometallurgical study including X-ray fluorescence.
The INRS is a leading research and training institute. Dr. Richer-Laflèche's, P.Geo, who will manage the
exploration works and his team possess exceptional geological and geophysical expertise, particularly
in industrial grade silica projects. The INRS team has several portable gas analyzers, sampling
equipment, and logistics required for collecting samples and conducting geophysical measurements on
land or in aquatic environments.
CEO, Jeff Stevens commented, "Argyle Resources was purpose built to explore and identify prospective
assets in the critical metals space. Acquiring the Matapedia, Lac Comporte and Pilgrim Island Quartzite
Silica projects in Quebec to complement our graphite exploration property, Frenchvale Graphite in Nova
Scotia provides our shareholders with exposure to two strategic critical metals. We are excited to initiate
a work program this season and will share details for both in short order."
ON BEHALF OF THE BOARD OF DIRECTORS
'Jeffrey Stevens'
President & CEO
George M. Yordanov, OGQ., P.GEO., an Independent Qualified Person
as such term is defined by
National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
, has reviewed and approved
the technical information reported in this news release.
About Argyle Resources Corp.
Argyle is a junior exploration company primarily focused on the Frenchvale graphite property on Cape
Breton Island in Nova Scotia. The company has an option agreement to acquire up to 100% of the
property by funding or incurring expenditures for a series of work programs. There has been significant
historic drilling, mapping and sampling work conducted at the Frenchvale site. The company is focused
in the industrial materials such as graphite and silica.
For all other inquiries:
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
potential use of minerals on the Property for industrial applications; the possibility of exportation of
industrial minerals to the Great Lakes or to the eastern USA; the potential for silica production; the
execution of an exploration campaign in collaboration with INRS; and the initiation of a work program.
There can be no assurance that such statements will prove to be accurate and actual results and
future events could differ 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; the Company's ability to access sources
of debt and equity capital; competitive factors, pricing pressures and supply and demand in the
Company's industry. 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 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.
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