We explore the possible connection between the open cluster IC 2391 and the unbound Argus association identified by the search for associations containing young stars survey. In addition to common kinematics and ages between these two systems, here we explore their chemical abundance patterns to confirm if the two substructures shared a common origin. We carry out a homogenous high-resolution elemental abundance study of eight confirmed members of IC 2391 as well as six members of the Argus association using UVES spectra. We derive spectroscopic stellar parameters and abundances for Fe, Na, Mg, Al, Si, Ca, Ti, Cr, Ni and Ba. All stars in the open cluster and Argus association were found to share similar abundances with the scatter well within the uncertainties, where [Fe/H] = -0.04 ± 0.03 for cluster stars and [Fe/H] = -0.06 ± 0.05 for Argus stars. Effects of overionization/excitation were seen for stars cooler than roughly 5200 K as previously noted in the literature. Also, enhanced Ba abundances of around 0.6 dex were observed in both systems. The common ages, kinematics and chemical abundances strongly support the fact that the Argus association stars originated from the open cluster IC 2391. Simple modelling of this system finds this dissolution to be consistent with two-body interactions.