In 1969 in an eleven-month deployment "Argonaut" circumnavigated the globe, visiting multiple countries, and also conducted a famine relief operation to FIJI(SUVA) In 1973, Argonaut was recommissioned, completed a six-week work up at Portland, visited Brest, France and then served as a guard ship for the Gibraltar station.

At the direction of Her Majesty's Government, an advanced group of Royal Naval vessels began to steam towards Ascension Island.

Whilst this operation was underway, she was attacked by Argentine warplanes throughout the day which Argonaut, engaged with anti-aircraft weapons.

Spotting the landing underway, Crippa attacked Argonaut with cannon fire and rockets, causing damage to her Type 965 radar.

Neither exploded, although one killed two sailors, Able Seaman Iain M. Boldy and Able Seaman Matthew J. Stuart, when it entered the ship's Sea Cat missile magazine, detonating two missiles and the other did severe damage to her boiler room, knocking out the ship's power and leaving her dead in the water.

On 26 June 1982 Argonaut sailed back under her own steam to Devonport Dockyard, where she had her battle damage repaired and new sonar equipment fitted.

In 1987 Argonaut rescued the businessman/adventurer Richard Branson from the Atlantic Ocean after he had ditched at sea whilst trying to cross it in a hot-air balloon.

In August 1992 Argonaut was involved in the pursuit and arrest on the high seas in the South Atlantic Ocean of Roderick Newall, a former British Army officer who had murdered his parents in Jersey.