said April 4 thatit has secured two new exploration licenses which cover Lake Blanche, a salt lakewith the potential to host lithium brines and potash, located north of FlindersRanges in South Australia.

The licensescover an area of 2,000 square kilometers, including the 1,700-square-kilometer LakeBlanche, which is a closed to restricted basin.

The companysaid that in the event economic concentrations of lithium are contained in the lake'sbrines, it has the potential to be an internationally significant source of theproduct because of its size.

Argonaut notesthat the geological and hydrological features unique to the lake make it a particularlyattractive Australian lithium brine target.