Argyle Resources Corporation has announced a strategic shift in its priorities and exploration portfolio, including to discontinue its involvement in the Bovill silica project, in Idaho, and the Sundance Bear Lodge rare earths project, in Wyoming.
The company is reviewing its exploration portfolio and strategic priorities, determining it best to redirect its focus and resources towards the advancement of its Canadian mineral assets, including its silica and precious metals projects in Québec and exploration at the McKay Hill silver/gold project, in Yukon.
“Following an internal review of our asset portfolio and long-term strategic direction, management believes that concentrating our efforts on Canadian exploration and development opportunities represents the most effective path forward for the company. This decision allows Argyle to streamline operations and focus capital and technical efforts on advancing our domestic projects,” says Argyle CEO Jeff Stevens.
The company does not anticipate any material penalties or ongoing obligations associated with discontinuing the US-based projects.