The Murdie Project comprises two highly prospective exploration licences, EL5937 and EL5945 that are 100% held and operated by Argonaut Resources via its subsidiary, Kelaray Pty Ltd. The exploration target is Iron Oxide Copper-Gold (IOCG) systems in the highly prospective Stuart Shelf region of South Australia.

The exploration licences cover an area of 1,015 square kilometres that are contiguous with the company’s Torrens Joint Venture Project and located within 10 kilometres of OZ Minerals’ Carrapateena deposit and 45 kilometres of BHP’s recent Oak Dam West discovery, along the western margin of Lake Torrens.

The Murdie Project encompasses a confirmed magnetite-bearing IOCG system known as Murdie identified by Western Mining Corporation (WMC) plus a series of non-magnetic, gravity only targets that straddle the shoreline. Recent geophysical modelling has defined new drilling targets that warrant testing.

Argonaut has received permits to access these areas and has commenced preparations for drilling.