There is a bit of buzz building around Argonaut (ARE) the...

There is a bit of buzz building around Argonaut (ARE) the exploration company – not the broker above – as it gets closer to a drill campaign at the Torrens exploration joint venture on the eastern margin of South Australia’s Gawler Craton.
Argonaut (30%) is the more lightly capitalised of the joint venture (2.1c for a $31m market cap) and is the operator. The 70% partner, Aeris (AIS), is a $60m company (16c a share) and is an established NSW copper producer.
All that doesn’t matter much if the joint venture snags something special in a region best known for BHP’s Olympic Dam copper monster, OZ Minerals’ Prominent Hill mine and OZ’s $900 million Carrapateena mine development.
Three quick holes in 2007-2008 confirmed the presence of a similar mineralised system at Torrens but native title issues frustrated follow up work.
That’s in the past now, with the joint venture planning to start hitting multiple drill targets beneath the salt crust on Lake Torrens, starting towards the end of the current quarter.
Modelling of geophysical data has defined 28 “large volume (gravity and magnetic) targets, most of which have similar geophysical features” to SA’s known iron oxide copper gold deposits.
More importantly, the 28 can be broken down into the various categories of the different geophysical characteristics that IOCG deposits can have.
The size of the potential prize is huge - the multi-target Torrens anomaly has a bigger footprint than Olympic Dam – but only if the drill bit proves the high science of exploring for these things is on the mark.

https://www.livewiremarkets.com/wires/strong-a-gold-price-fuels-talk-of-m-a-among-mid-tiers