Argonaut Resources updates on nickel discovery in Laos

Argonaut Resources NL, an international mineral exploration company listed on the Australian Stock Exchange, announces the highest nickel grade intercepts to date at its Century tenement in Laos.

The latest results include trenching intercepts of up to 22m at 1.0% Nickel across disseminated nickel sulphide mineralisation at the Nam Hone East prospect on the Century tenement.

The company is likely to commence a concentrated drilling program on the Nam Hone East target during the next dry season in early November 2008.

Earlier in February the company had discovered disseminated nickel sulphide mineralisation in part of a mafic system approximately 3.5 kilometres long at Argonaut’s 223 square kilometre Century tenement which adjoins the Mekong River bordering Thailand in northwest Laos.

Again in the month of March the company had announced trenching intercepts at Vang Ma West prospect up to 28m at 0.55% Nickel from trench VMTR59.

In addition, three other significant nickel prospects have now been delineated on the Century tenement

At Nam Hone East, Argonaut has now completed 13 trenches across areas with soil, hand auger, rock-chip sampling and channel sampling results greater than 0.5% Ni.

Analytical results for six of these trenches have been received confirming that bedrock trench samples contain potentially economic nickel grades in a sheared and serpentinised zone within the gabbroic intrusion.

The principle activities of Argonaut Resources are to enter joint ventures with a series of partners on our South Australian tenements and to progress the exploration and development of our two Laos based tenements.

In Laos the company is aggressively working on two highly prospective, virtually unexplored, mineral concessions for which the company is responsible for 100% of funding through to completion of bankable feasibility.

The Century project covers an area of 300 square kilometres in which Argonaut holds a 70% interest.

The Xekong project covers a 777 square kilometre area where a 65% interest is held.