Argent Minerals (ASX: ARD) has targeted 20 million ounces of silver and 65,000 ounces of gold at the company’s Kempfield Project in New South Wales.
An infill and metallurgical drilling program that currently stands at 12 holes drilled from 1,200 metres, and will continue to 5,000 metres.
The company also looks to target 108,000 tonnes of lead and zinc concentrate at Kempfield.
Core samples from a previous drilling program have been sent to Metcon Laboratories to undergo testing.
Argent also has hired consultants and an internal manager to carry forward a definitive feasibility study at Kempfield that is scheduled to conclude in December of this year.
The Feasibility Study at Kempfield is budgeted at $2.5 million.
Kempfield is located 40 kilometres from Bathurst in New South Wales with road and railway infrastructure within proximity of the site.
Further infrastructure development, such as energy and water, remain under planning.
RW Corkey Pty was hired to prepare the environmental assessment for the project, with the Australian Mine Design and Development Pty appointed to undertake the mine design.
On 31 March, Argent sold off Argent (Bullant) Pty to US Nickel (ASX: USN).
Argent shareholders participated in the inspecie distribution of US Nickel shares at a ratio of 0.53 US Nickel shares for every Argent share held on 1 April.
Kerry McHugh, executive chairman, said that the sale has been good outcome for Argent shareholders who will continue to have exposure to the Bullant asset through their US Nickel holdings.
"The completion of the sale has the important benefit of positioning Argent as a pure silver play and enabling the company to focus its full attention on progressing the Kempfield Definitive Feasibility Study."
US Nickel reported on 25 March that it had received assay results from underground diamond drilling around the Bullant Gold mine, confirming areas of potential gold ore grade mineralisation are within economic mining distance from the main Bullant mine decline development.