Argent Minerals (ASX:ARD) has commenced drilling at the Theia and Narragudgil targets within its West Wyalong project located in central New South Wales.
The program will comprise six holes for 2,300 metres of diamond drilling. To date, more than 150 metres has been drilled.
This is the first drilling conducted by Argent to test the Theia copper-gold and Narragudgil epithermal gold targets identified by recent geophysical surveys.
Argent anticipates the drilling to be completed in early May 2017 as per the previous schedule, subject to ongoing drilling conditions and weather.
The project has been assessed for technical merit by an independent expert panel, and as a result awarded co-founding by the New South Wales government to cover 50% of the direct per-metre drilling costs up to $200,000.
Completion of the drilling program will boost Argent’s interest in the West Wyalong project from 51% to 70%.
The core logging and sampling is expected to be completed by circa late May, to be followed by laboratory assay results, and subsequent analysis by Argent.
Analysis
Argent is drilling the first diamond hole for 17 years at West Wyalong initiated to test the undrilled multisurvey anomalies.
In other company news, more diamond assays are currently pending from its flagship Kempfield project in New South Wales.