|By Marketwired .||
|January 3, 2014 04:23 PM EST||
CALGARY, ALBERTA -- (Marketwired) -- 01/03/14 -- Argonaut Exploration Inc. (the "Company" or "Argonaut") (TSX VENTURE: AGA) announces that the Company has obtained TSXV approval to issue 500,000 common shares in the capital of Argonaut ("Common Shares") as part of the option agreement (the "Agreement") requirements that has an effective date of October 22, 2013 (the "Effective Date") with an arm's length party, to earn a 100% interest in certain mineral claims located in the Hidden Valley area of British Columbia (the "Hidden Valley Property"). The Agreement is summarized in the Company's news release dated November 1, 2013. The Hidden Valley Property, when combined with additional claims currently held by Argonaut, forms the Company's "High Gold" property. The Agreement supersedes all prior agreements between the parties.
Pursuant to the terms of the Agreement, Argonaut can earn a 100% interest in the Hidden Valley Property by paying the optionor the aggregate amount of $50,000 and issuing the optionor an aggregate of 500,000 Common Shares on the dates and in the amounts as follows:
(a) $10,000 on the Effective Date; (b) 500,000 Common Shares on receipt of TSXV approval; (c) a cash payment equal to $40,000 on or before the date of the first anniversary of the Effective Date.
At a deemed value of $0.05 per Common Share, the value of the aggregate Common Share consideration to be paid to the optionor is $25,000 over the one year option period. Pursuant to the Agreement, the optionor will retain a 2% net smelter return royalty (the "Royalty") on proceeds derived from the sale of minerals produced from the 5 claims composing the Hidden Valley claims. Argonaut may purchase and terminate the Royalty at any time upon paying to the optionor an aggregate cash payment of $1,500,000.
The $10,000 first payment was made to the optionor prior to the Effective Date of the Agreement and with the received TSXV approval the Common Share issuance will be completed.
High Gold Property
The High Gold property consists of 7,832 hectares located 60 kilometres northeast of Terrace and 45 kilometres west-northwest of Smithers, British Columbia. Argonaut holds a 100% interest in the High Gold property, with the exception of 5 included mineral claims described in the above summarized option agreement with an expiry date of October 22, 2014. The mineral rights to the High Gold property have been maintained in good standing until the year 2020.
In 2010, Argonaut explored a porphyry system within the High Gold property with nine exploration drill holes totaling 2,542 metres from five locations with the deepest drill hole reaching 316 metres. Surface geophysical programs included 13 kilometres of deep penetrating induced polarization and magnetometer surveys. Geological mapping and detailed rock sampling targeted the northern gold zone and the central porphyry system with 171 metres of trenching including 51 trenched metres of copper-gold-molybdenum mineralized stockwork bedrock. Historic drill core stored on the property was also sampled adding 1,220 metres of core analyses from seven additional sites.
Results from Argonaut's High Gold exploration program are summarized in the Company's news releases from 2010 to 2011 and indicate a molybdenum-copper-gold-silver mineralized Bulkley-type porphyry system. The High Gold porphyry system contains zones of elevated metals associated with a distinct well-fractured stockwork zone. Geological mapping, geochemistry, drilling and the "deep penetrating" I.P. survey indicate a large and deep metal-bearing system located just 18 km from a major highway with power and rail infrastructure.
The High Gold property borders two other properties with significant copper, molybdenum, gold and silver porphyry systems known as the Louise Lake and Zymo properties. The Louise Lake Property owned by Victory Mountain Ventures Ltd. (formerly North American Gem Inc.) borders to the east and has a reported mineral resource of 147 million tonnes containing 6 million indicated tonnes grading 0.369% copper equivalent and 141 million inferred tonnes grading 0.425% copper equivalent. Eastfield Group's Zymo Project borders to the southwest with numerous copper-gold drill intersections, including hole ZY-08-09 that intersected 253 metres grading 0.32% copper and 0.23 g/tonne gold including 72 metres grading 0.72% copper and 0.54 g/tonne gold.
Late Cretaceous calc-alkalic porphyries in British Columbia like the High Gold porphyry have the potential for very large mineralized systems with an enriched stockwork core.
About Argonaut Exploration Inc.
Argonaut is a junior mineral exploration company focused on the acquisition, exploration and development of gold, silver and copper bearing mineral properties. For more information on the Corporation visit its website at www.argonautexploration.com.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
Sep. 28, 2016 05:00 PM EDT Reads: 1,712
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Sep. 28, 2016 04:45 PM EDT Reads: 337
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 28, 2016 04:30 PM EDT Reads: 2,798
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Sep. 28, 2016 04:15 PM EDT Reads: 2,420
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Sep. 28, 2016 04:15 PM EDT Reads: 1,853
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Sep. 28, 2016 04:15 PM EDT Reads: 1,469
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Sep. 28, 2016 04:00 PM EDT Reads: 1,479
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 28, 2016 03:15 PM EDT Reads: 1,307
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 28, 2016 03:15 PM EDT Reads: 4,139
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Sep. 28, 2016 03:15 PM EDT Reads: 346
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Sep. 28, 2016 03:00 PM EDT Reads: 3,863
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 28, 2016 02:45 PM EDT Reads: 1,740
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 28, 2016 02:30 PM EDT Reads: 2,924
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 28, 2016 02:30 PM EDT Reads: 3,316
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Sep. 28, 2016 02:00 PM EDT Reads: 4,419