Sydney, Feb 20, 2017 AEST (ABN Newswire) - Argent Minerals Limited (ASX:ARD) (Argent, or the Company) is pleased to report exploration results for holes AKDD195, AKDD198 and AKDD199 at Kempfield in NSW. These three holes were part of an eight hole diamond drilling programme.

Results for AKDD192, 193, 194, 196 and 200 are pending

Highlights:

- Significant 20.3 metre intersection returned by hole AKDD195 assays: 20.3 m @ 32 g/t Ag, 1.1 g/t Au from 96.0 m: incl. 7.0 m @ 47 g/t Ag, 2.4 g/t Au, from 97.0 m; incl. 3.1 m @ 2.4% Pb, 2.3% Zn, 85 g/t Ag, 2.3 g/t Au from 100.9 m

- The assays confirm the new geological model and C Horizon position in Kempfield southeast zone.

- The stratigraphy of the sampled core indicates a potentially significant steeply dipping lens that is open in all directions.

- The confirmation of the new Kempfield southeast C Horizon area implies the potential for significant additional tonnage.

- Holes AKDD198 and AKDD199 have confirmed the extension of the Kangaloolah volcanics further south than historically assumed, with high temperature evidence opening new potential in the region of the historic Gully Swamp copper mine.

About the AKDD195 20 metre intersection

Drilled to test the southeast potential mineral extension predicted by Argent's evolving Kempfield geological model, diamond hole AKDD195 intersected a broad zone of strong silicification with disseminated and stockwork quartzpyrite veining in the drill core from 90.4 to 125.3 metres.

Host rocks intersected by the hole were consistent with the geological model constructed from the previous round of drilling, and were defined by a series of volcanoclastic siltstone units interspersed with volcanoclastic conglomerates.

AKDD195 was drilled to a total length of 233.7 metres through the main volcanoclastic conglomerate sequence. Initial samples of the 90.4 to 125.3 metres intersection were submitted for assay, and returned the following results:

- 20.3 m @ 32 g/t Ag and 1.1 g/t Au from 96.0 m

including: 7.0 m @ 47 g/t Ag, and 2.4 g/t Au, from 97.0 m;

including: 3.1 m @ 2.4% Pb, 2.3% Zn, 85 g/t Ag, and 2.3 g/t Au from 100.9 m.

Figure 1 in link below illustrates the collar positions and hole trace design for AKDD195 in the context of the lithostratigraphic model announced on 10 October 2016, and the potential extensions and geophysical anomalies that the drilling programme was designed to test.

Figure 2 in link below provides a section view illustrating hole AKDD195 and the returned assay results in the context of the preliminary visual observations of the sampled drill core.

About the new mineralised zone - C Horizon Kempfield south

This area is a confirmed extension of the C Horizon which was previously logged as Zone 1, and is characterised by volcanoclastic conglomerate units with interspersed volcanoclastic siltstone, consistent with C Horizon host sequence observations in Kempfield North.

This intersection represents a significant advance in the understanding of the Kempfield VHMS Deposit and holds significant potential for further drilling in the area.

A detailed review of the results and investigation into the controls on mineralisation and any associated geophysical signatures is underway.

Potential mineralisation remains open in all directions with significant potential along strike to the north and to the south, and at depth.

About holes AKDD198 and AKDD199 and the original Kempfield copper mine area

Whilst the AKDD198 and AKDD199 assay results did not return any mineralisation, the intersected geology opens up an entire new area further to the south.

The intersected geology confirms that the felsic units of the Kangaloolah Volcanics, host to the Kempfield Deposit, extend into the Pennsylvania Forest area, and the geology is evolving from felsic dominated to mafic dominated volcanogenic sediments and coherents.

This is significant because, contrary to historic assumptions that the Kempfield Deposit did not extend any further south from the boundary of the Pennsylvania Forest, this opens up the potential for additional VHMS mineralisation in the direction of historic mines, and further to the south.

The Company's main tenement EL5748 extends approximately 2 kilometres to the south of this area, with the historic Sugarloaf barite workings located 900 m south of AKDD195 in the vicinity of the projected strike position of the C Horizon, and the historic Gully Swamp copper mine approximately 400 metres to the west.

The magnetic signature that was tested by drill holes AKDD198 and AKDD199 is a magnetite bearing mafic tuff unit, which has elevated chrome (~1000 ppm) and nickel (~300 ppm). Whilst this is of no economic importance in itself, the unit is easily identified by the geophysical signature and the magnetics image shows a rapid termination and offset to the southeast, likely to be a fault similar to the main Kempfield transfer fault illustrated in Figure 1 in link below.

This southern strike-slip offset may have resulted in:

- the southern portion of the AKDD198/9-intersected mafic tuff extending to the Gully Swamp copper mine; and

- a southern strike extension of the new south C Horizon being re-aligned with the Sugarloaf mine.

Figure 5 in link below illustrates the interpreted potential mafic tuff extension towards the Gully Swamp copper mine, and the C Horizon strike extension towards the Sugarloaf barite mine.

Conclusions

- The assays results received for AKDD195 returned a significant 20.3 metre intersection, confirming the C Horizon Kempfield South mineralisation predicted by Argent's evolving geological model for the project;

- The new C Horizon Kempfield South mineralisation is open in all directions, implying the potential for significant additional Kempfield VHMS tonnage;

- Holes AKDD198 and AKDD199 confirmed that the felsic units of the Kangaloolah Volcanics, host to the Kempfield Deposit, extend to the south into the Pennsylvania Forest area and potentially further to the south; and

- The combined AKDD195, AKDD198 and AKDD199 results open up a potentially significant area to the south, which is covered by the additional 2 kilometre exploration licence area of EL5748.

About the remaining assays

All samples from the drilling program have now have been submitted for assay and results are expected in the following three to four weeks. Results from drill holes AKDD193, 194, 196 and 200 are pending.

This ASX Report must be read in conjunction with Appendix A and JORC 2012 Table 1 provided in Appendix B.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/AWO74OSE


About Argent Minerals Limited

Argent Minerals Limited (ASX:ARD)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.

 


Contact

David Busch
Managing Director
Argent Minerals Limited
M: 0415 613 800
E: david.busch@argentminerals.com.au



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