Argent Minerals Ltd (ASX:ARD) is set to kick off a program of reverse circulation drilling at its polymetallic project Kempfield in New South Wales, looking to assess prospects discovered earlier on this year, two of which are believed to hold VMS (volcanogenic massive sulfide)-style mineralisation.
Kempfield – which itself contains copper, lead, zinc, gold and silver – will be subject to 3,300 metres of RC drilling, looking to confirm VMS mineralisation at the Kempfield NW and Sugarloaf Hill prospects, assess the Golden Wattle and Henry Zone for orogenic gold style mineralisation, and scrutinise new zones outside the current resource area.
In April, surface sampling at Sugarloaf Hill revealed two distinct zones of mineralisation containing silver, lead and zinc – with the largest containing a strike length of 1.1 kilometres.
The 51-hole program will commence next month, and Argent anticipates that it may result in an increase in Kempfield’s overall tonnage and grade.
This follows an upgrade at the end of July, which showed the project to contain 63.7 million tonnes at 69.75 grams per tonne of silver equivalent (Ag Eq), for 142.8 million ounces Ag Eq (65.8 million ounces of silver, 125,192 ounces of gold, 207,402 tonnes of lead and 420,373 tonnes of zinc).
Managing Director Pedro Kastellorizos said that with NSW Regulator and Crown Lands approval received, the company would steam ahead to assessing its prime targets.
“Recent work in the project area has delineated significant walk-up drill targets yet to be systematically drill tested,” he said.
“Based on structural, geological and the more recently completed geochemical programs, Argent has identified 13 untested zones which have excellent potential to host gold, silver and base metal mineralisation.
“The Kempfield Project remains on track for further resource expansion based on numerous drillholes which finished in mineralisation along with broad high-grade down plunging silver
mineralisation previously outlined.”
The market was pleased with the news, and at 11:34 AEST, Argent shares were trading at 1.5 cents, a rise of 7.14% since the market opened.