Aug 11
15
Argus announced last Friday that they had begun their $1.7 million drill program in the Selwyn Basin in the Yukon with drilling underway and first assays already pending.
Important to note: core has already started making its way to the lab and drilling continues. I’m happy to see that the company is able to, and is, keeping on task with drilling and developing new drill targets for this year to provide lots of new news over the weeks to come.
Drilling, New Targets = Fresh News Flow
To reiterate a couple of important points to the company that I believe can increase the odds of success in a high-risk/high-reward situation:
- Two P.Geos leading the exploration;
- On several different targets in a focused area;
- That has current evidence and historic resources of gold;
- Utilizing new technologies to quickly advance targets;
- With 4 new targets already identified to continue drill through the year;
- All while drilling is underway with assays already pending.
In speaking with the company, here are some thoughts and insights as to how the program is going:
The recent diamond drilling was focused on testing the newly discovered sulphide zone underlying the “Main Zone” historic oxide gold resource originally drilled and delineated by Archer Cathro & Associates. I would look for assays in the upcoming couple of weeks as drill core has been already sent to the lab.
The company has also been drilling a new target conductor identified by the Abitibi TEM geophysical survey from this summer as well as the geochemical soil anomalies at the Southeast Zone. Assays from this drilling could prove interesting, as this area on the structural trend has not been drilled before.
Immediately following the drilling on the Southeast Zone, the newly identified THAS zone, the untested historical CUZ zone and the newly identified CUZ SUR targets should be drilled.
To keep the drilling pipeline (and the news pipeline) full, as the drilling was being conducted and as it continues, Argus has been busy identifying further targets in the area to keep the drill busy right through the end of this year’s season. The company says that it has identified 4 new targets so far utilizing geophysics, geochemical, soil and grab sampling with several more in the works. Now that the core shipments have begun and several drill targets underway and planned, I would expect to see a continual flow of news every couple of weeks from here on through the end of autumn.
On Sunday August 7th, Argus hosted an YGS Mineral Property Tour with journalists from North 60 Mining, The Canadian Mining Journal, Resource World, and the Northern Miner in attendance. The company says it is very pleased with the reception and exposure that this event provided from the mining industry media to add visibility and support for the project. Argus says it will bring additional analysts and media to the project as it progresses through the campaign this year.
