Argent Minerals (ASX:ARD) is drill testing for Australia's next high-grade lead / zinc discovery at its Kempfield Polymetallic Project in the world-class Lachlan Orogen in New South Wales.
Its deep diamond drilling program has validated the company’s deposit model with recent holes returning up to 5 metres at 17.9% lead+zinc from 88 metres, and gold of up to 5 metres at 4 grams per tonne gold from 353 metres.
The model predicts the potential for significant depth extensions to mineralised lenses below the known deposit, as well as the potential for high grade base and precious metals.
It also implies that the lengths of the steeply dipping lenses could extend to substantial depths.
The company plans to carry out an extended deep diamond drilling program of seven holes totalling 3,200 metres to test for depth and strike extensions to existing mineralised lenses, as well as new lenses.
This will focus on discovering high grade zinc, lead, and precious metals, including the potential for high grade gold in addition to silver.
Argent also recently raised $400,000 through a share purchase plan priced at $0.022 to help fund the drilling program.
David Busch, managing director, will present at Proactive's Sydney, Melbourne Investor Luncheons in September.
REGISTER TODAY by clicking on the links below:
Melbourne Investor Luncheon, Tuesday 22nd September.
Sydney Investor Luncheon, Wednesday 23rd September.
Kempfield Project
Kempfield is located just 41 kilometres from Cadia and belongs to a peer group of volcanogenic massive sulphide deposits located at the margins of geological basins such as the Hill End Trough.
It is wholly-owned by Argent and has a current JORC 2012 Resource of 33 million ounces of silver, 97,000 tonnes of lead, 200,000 tonnes of zinc and 86,000 ounces of silver.
West Wyalong
Last month, the company started a high resolution geophysics survey at the porphyry copper gold target of its West Wyalong project.
This is intended to enable the design of a drill program to test the target.
West Wyalong is located 37 kilometres south of Lake Cowal Mine, which is under acquisition by Evolution Mining (ASX:EVN) as a “cornerstone asset”.
Argent has a 51% interest in West Wyalong.
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