Argent Minerals (ASX: ARD) has received a $540,000 tax refund from the Federal Government’s Research and Development Tax Incentive Scheme.
These funds will be used to support its upcoming diamond drilling program targeting massive sulphides at its Kempfield silver project in New South Wales.
Regulatory approval has been received for the first phase of the drilling program which has been designed to test the Causeway and West McCarrons targets for volcanogenic massive sulphide.
Under Stage 1 of the Kempfield Silver Project, the company is planning to mine approximately 8.8 million tonnes over five years to produce 9.9 million ounces of silver at an approximate C1 cost of $16.60 per ounce.
Beyond Stage 1, It is focused on developing the project further, into a major long-term silver, gold and base metal mining operation.
Argent has delineated a total resource of 52 million ounces of silver equivalent of silver, gold, zinc, and lead, at a silver equivalent grade of 75 grams per tonne.
It has also identified a potential new mineralisation lens containing higher grade silver, lead and zinc as well as potentially copper and gold.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.