Argent Minerals Ltd (ASX:ARD) has updated on the observed mineralisation in holes AKDD182 and AKDD183, the first two holes for which logging has been completed of the 12 hole, 3,330 metre Kempfield diamond drilling campaign.
Argent said that the zone of strong hydrothermal alteration intersected by hole AKDD182 is consistent with the recent spectacular: 1 metre at 1,065g/t gold intersection.
Assays are pending for gold and copper. Core sampling is underway with results expected in coming weeks.
Kempfield was peer reviewed by the NSW State Government, and awarded Top 5 funding based on project merit.
The resource is predominantly silver, currently defined as: 21.8 million tonnes at 47g/t silver for 33 million silver ounces, + 300,000 tonnes lead/zinc.
Overnight, silver broke through US$16 an ounce barrier for the first time on a month, settling 1.5% stronger US$16.22 an ounce.
Current drilling
Historical drilling at Kempfield has generally been limited to a relatively shallow depth of only 120 metres.
The current drilling campaign has been designed to test the potential for an increase in tonnes and grade at depth and along strike in order to progress the Kempfield project toward economic viability and mining operations.
AKDD182 – follow up to AKDD181 spectacular gold intersection
AKDD182 was designed to test for a down-dipextension of the spectacular gold mineralisation zone intersected by hole AKDD181, of 1 metre at 1,065g/t gold from 97 metres.
AKDD182 intersected areas of strong chlorite alteration and silicification associated with a series of concordant quartz veins in a position considered to be continuous from AKDD181.
AKDD182 also intersected a zone of stringer chalcopyrite (copper) at 71 metres with cross-cutting pyrrhotite veins.
Argent said that pyrrhotite and chalcopyrite stringers and blebs (small, localised ‘blister’ like features) were observed at various intervals throughout the lower portion of the drillhole.
These observations are consistent with the type of mineralisation that can be expected in the higher temperature and pressure formation conditions associated with the footwall position of a volcanic-hosted massive sulphide (VHMS) deposit.
AKDD183 – Sphalerite (zinc) and galena (silver, lead) observed
The second hole in the program, AKDD183, was designed to test for depth and strike extensions of known Zone 2 mineralisation, and importantly, continuity of mineralisation.
AKDD183 intersected a series of variably mineralised zones throughout the extent of the drillhole.
Cleavage and fracture controlled red-brown sphalerite (zinc) and galena (silver, lead) occurs between 46 to 50 metres, which indicates a degree of remobilisation and structural enrichment during a later orogenic phase at Kempfield.
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