Argent Minerals (ASX: ARD) has reported that follow up drilling has commenced on two angled RC holes aimed at intersecting the same gold mineralisation which was encountered in the original hole (AGC001) drilled at West Wyalong, New South Wales, in July 2009.
Kerry McHugh, executive chairman, said if this is successful it will help determine if it is a gold reef and what its dip and strike might be so that it can be further drilled out and assessed.
The original hole was drilled to test a large coincident 21 milligal gravity anomaly and a 850 nanoteslas magnetic anomaly.
The purpose was to determine if there was any sign of increasing alteration with depth to indicate the presence of mineralising hydrothermal solutions which form a porphyry copper-gold system.
The hole intersected a strongly altered zone from 60 to 70 metres containing arsenopyrite and traces of chalcopyrite, galena and pyrite with 2 metres assaying 22.6g/t gold, including 1 metre assaying 43.1g/t gold.
This gold mineralisation was suspected to be one of the many gold reefs that made up the very rich West Wyalong gold field that was mined in the late 1800s.