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Argyle Resources Announces Filing of 22 Mineral Lode Claims Near Bovill, Idaho
Calgary, Alberta--(Newsfile Corp. - March 7, 2025) - Argyle Resources Corp. (CSE: ARGL) (OTCQB: ARLYF) (FSE: ME0) ("Argyle" or the "Company") is pleased to anno
About this update from Argyle Resources Corp.
[{"type":"text","content":" 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 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 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 $300,000 through the issuance of 555,555 units (each, a \"Unit\") at a price of $0.54 per Unit (the \"Offering\"). Each Unit is comprised of one (1) common share of the Company (a \"Common Share\") and one common share purchase warrant (\"Warrant\"), with each Warrant entitling the holder to purchase one Common Share at a price of $0.65 for a period of 24 months from the date of the closing. 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 th...