Kempfield Drilling Commences, Targeting Ag, Au, Pb and Zn
Sydney, Nov 29, 2016 AEST (ABN Newswire) - Argent Minerals Limited (
ASX:ARD) (Argent, or the Company) is pleased to report that diamond drilling has commenced at the Kempfield volcanic-hosted massive sulphide (VHMS) project.
Drilling of hole AKDD197 commenced on Friday 25 November 2016, and stepped up to 24/7 operations on the evening of 26 November.
Highlights:
- First diamond hole of the 8 hole programme commenced 25 November 2016 (AKDD197).
- 24/7 operations commenced on 26 November 2016.
- The remainder of the outstanding regulatory approvals in place for the 8 hole programme.
- Drill site preparations continuing ahead of schedule - 5 drill pads completed to date.
- 1,600 metres planned for this diamond drilling programme, targeting potential silver, gold, lead and zinc mineralisation extensions identified by recent drilling.
The Company is pleased to report that the balance of the regulatory approvals have been received in a timely manner. All regulatory approvals and access agreements are now in place for the total eight-hole programme.
Site preparation activities have been completed for the next four holes, well ahead of the scheduled drilling commencement date for each hole and site preparations are on track for the remaining holes.
About hole AKDD197
Drill hole AKDD197 is designed to intersect a strong IP anomaly slightly offset from a strong magnetic anomaly that will be tested by AKDD198 and AKDD199. The coincident magnetic and induced polarisation (IP) anomalies imply the presence of concentrated sulphides.
Figure 1 (in the link below) shows the AKDD197 drill camp with diamond drilling progress, and Figure 2 in the link below shows a plan view of the drillhole locations. AKDD197 is located on freehold land owned by Argent (beyond the fence in Figure 1 in the link below).
Approximately 1,600 metres planned
Each hole is planned to a depth of approximately 200 metres, for an approximate total of 1,600 metres for the eight-hole programme.
Final hole depths and order of drilling are subject to actual drilling conditions encountered. These decisions are made by the Exploration Manager who is on site closely managing operations in order to optimise exploration progress and usage of the Company's budget for the drilling programme.
Figure 2 (in the link below) follows, with a plan view of the Kempfield site and drillhole collar locations.
Drill programme targets silver, gold, lead and zinc
The drilling programme has been designed to test for potential silver, gold, lead and zinc VHMS mineralisation in the following target areas identified by recent drilling:
- Southern magnetic anomaly - AKDD197, AKDD199 and AKDD198;
- Southeast mineralisation extension - AKDD195 and AKDD196;
- Northwest mineralisation extension - AKDD193 and AKDD194; and
- Quarries - AKDD200.
Next steps
On completion of hole AKDD197, the drill rig will be relocated to the next scheduled site in the programme - hole AKDD199, the first of two holes designed to test the southern dual magnetic anomaly.
To view tables and figures, please visit:
http://abnnewswire.net/lnk/2K64DDD0
About Argent Minerals Limited
Argent Minerals Limited (
ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.
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