$269,000 Funds Received from Research and Development Claim
Sydney, Nov 4, 2015 AEST (ABN Newswire) - Argent Minerals Limited (
ASX:ARD) is pleased to report that $269,000 has been received in relation to the Company's research and development (R&D) claim for the financial year ending 30 June 2015.
Highlights:
- $269,000 cash payment received from the Federal Government R&D Tax Incentive Scheme
- Funds to be strategically applied to Argent's Kempfield and West Wyalong projects
The claim relates to a range of technical development activities associated with advancing the Kempfield Polymetallic Project.
Argent Minerals Managing Director David Busch said, "We appreciate the support of the Federal Government through the R&D Tax Incentive Scheme.
These funds will be applied strategically to support the Company's exploration programmes at the Kempfield and West Wyalong projects".
Together with the $771,921 raised through the oversubscribed Share Purchase Plan shortfall placement in October 2015, over $1 million cash has been added to Argent's reserves, before costs.
Argent has commenced a 7 hole 3,200 metre diamond drilling program at Kempfield, and is preparing to conduct additional geophysics survey work at the West Wyalong copper-gold target.
About Argent Minerals Limited
Argent Minerals Limited (
ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.
| ||
|
