- A diamond drill rig has arrived at Argent Minerals’ (ARD) West Wyalong Project in New South Wales
- The rig was contracted from ASX-lister DDH1 (DDH) to test the project’s potential to host a major gold-copper porphyry system
- The West Wyalong Project has similar geological characteristics to world-class copper–gold mines and has recently displayed potential mineralisation
- Unfortunately, the floods in NSW have caused some setbacks to exploration
- Once ground conditions improve, Argent’s field crew will mobilise to the site to drill the next diamond hole
- Company shares are trading flat at 5.7 cents
A diamond drill rig has arrived at Argent Minerals’ (ARD) West Wyalong Project in New South Wales.
The company contracted the rig from ASX-listed DDH1 (DDH) for a program to test West Wyalong’s potential to host a major gold-copper porphyry system.
The West Wyalong Project lies within the same geological setting that hosts world-class porphyry copper-gold mines such as Newcrest Mining’s Cadia, China Molybdenum’s Northparkes, as well as Evolution Mining’s (EVN) Lake Cowal Gold Mine.
In a recently commenced reverse circulation (RC) program, drilling identified a substantial amount of pyrite, chalcopyrite and quartz veining, which led to Argent’s decision to deploy a diamond rig.
RC drilling successfully intersected zones of targeted host rock containing key indicators for porphyry-style copper and gold deposits.
“We’re encouraged with the thick zones of potential mineralisation on the first of five diamond drill holes and hope the recent flooding at West Wyalong allows drilling to restart ASAP,” Managing Director and CEO George Karageorge said.
Existing drill core will be logged and prepared for sampling while the company waits for ground conditions to improve after the flood in New South Wales.
Once ground conditions improve, Argent’s field crew will mobilise to the site to drill the next diamond hole at the copper and gold project.
Company shares are trading flat at 5.7 cents at 12:17 pm AEDT.