Argent releases base metal drill results
Argent Minerals (ASX: ARD) has released drilling results from an exploration program undertaken at its Kempfield project in New South Wales. Located in a broader region that hosts high profile precious and base metal projects, the results released on Wednesday demonstrate zinc, lead, silver and gold mineralisation in the Henry Zone.
ARD identified five separate mineralised intervals with a total combined length of 45.9 metres. Perhaps of more importance though was the identification of geological trends which suggest there is continuity of mineralisation from the Henry Zone north to the Kempfield Polymetallic Project which has a substantial mineral resource already established.
Kempfield has established mineral resource
The Kempfield mineral resource consists of 21.8 million tonnes and 52 million ounces of silver equivalent contained metal that was upgraded to JORC 2012 standard in May 2014.
This upgrade reflects both the quality of the mineral resource itself and the high standard of Argent Minerals work on the project, laying the foundation for further regional exploration.
Drilling has intersected combined lead/zinc grades of up to 17.9% immediately to the west of the existing mineral resource, and numerous high grade gold intervals including a promising gold intersection of 1 metre grading 1065 grams per tonne have been recorded.
As can be seen below, the Kempfield project is located in an area that has yielded prolific returns across both precious and base metals.
With big players such as Evolution Mining, Newcrest Mining and Regis Resources owning extensive holdings in relatively close proximity, management is justified in being confident of exploration success.
More specifically, Newcrest’s Cadia copper-gold deposit lies only 40 kilometres to the north of Kempfield. In fiscal 2016 the Cadia Valley operations produced nearly 670,000 ounces of gold and 64,000 tonnes of copper.
Over 9 million ounces of gold has been produced from Newcrest’s Cadia Valley operations since commercial production started in 1999.
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