Business
Argyle Resources Acquires Three Silica Projects in Quebec, Canada
Argyle Resources, a prominent mining company, has recently finalized the acquisition of three noteworthy silica projects located in Quebec, Canada.
The acquisitions include the Matapedia, Lac Comporte, and Pilgrim Island Quartzite projects, all previously owned by Charlevoix Silica. This agreement involved a cash payment of C$150,000 and the issuance of 750,000 common shares of Argyle to Charlevoix Silica.
The Matapedia silica property, spanning 912.8 hectares, is strategically positioned 36km from Grand-Métis, allowing convenient access via municipal roads. This site’s close proximity to silica, limestone, and aluminous claystones presents a unique opportunity for industrial applications.
Moreover, the presence of local port and railway infrastructure further boosts the potential of the properties for exporting minerals to markets in the Great Lakes region and the eastern United States.
The Lac Comporte Project covers a substantial area of 1,945 hectares in the Charlevoix-Est region, while the Pilgrim Islands Project spans 810 hectares in the Kamouraska regional county municipality.
To fully evaluate the mineral potential of these newly acquired properties, Argyle Resources intends to collaborate with the renowned National Institute of Scientific Research (INRS) to carry out an extensive exploration campaign.
The planned exploration activities will include various assessments such as geophysical surveys, geological mapping, and comprehensive sampling and analytical studies like X-ray fluorescence analysis.
INRS, known for its expertise in research and training, will be led by Marc Richer-Laflèche, a specialist in geological and geophysical assessments, particularly in the realm of industrial-grade silica projects.
Equipped with state-of-the-art tools including portable gas analyzers and sampling equipment, the INRS team is prepared to conduct thorough fieldwork on land and in aquatic environments to uncover the full potential of these silica projects.
CEO of Argyle Resources, Jeff Stevens, expressed the company’s strategic direction, stating, ‘Acquiring the Matapedia, Lac Comporte, and Pilgrim Island Quartzite Silica projects in Quebec, alongside our graphite exploration venture, Frenchvale Graphite in Nova Scotia, offers our stakeholders exposure to two critical metals, thus reinforcing our commitment to exploring and identifying valuable assets in the critical metals sector.’
