Argent Minerals (ASX:ARD) has received assays from its final two diamond drill holes of a six hole program at its West Wyalong Project in New South Wales.
Assays from holes AWT005 and AWN001 show continued evidence of near positioning to a copper-gold-molybdenum porphyry deposit.
The assays indicate that copper, gold and molybdenum anomalism continues for 2.5 kilometres along trend from AWT001 to AWT005.
Drilling results add further evidence analogous to the initial exploration results which led to the discovery of Ok Tedi in Papua New Guinea and Big Cadia in New South Wales.
The finalisation of assays will now allow for the initiation of 3D modelling.
Finding the main source
The fifth and sixth holes drilled in the program were designed to test the southern extent of the Theia anomaly and the central portion of the Narragudgil anomaly.
The assay results and drill core observations for Theia indicate this position is more distal to the main mineral system than a previous hole, AWT004.
The assay results for Narragudgil together with the drill core visual observations, continue to be consistent with a near position to a porphyry copper-gold-molybdenum deposit.
The assay results include the following significant intersection by hole AWT005:
- 2.0 metres at 0.03% copper, 0.43 g/t gold and 3 ppm molybdenum from 268.0 metres;
and the following significant intersections by hole AWN001:
- 11.0 metres at 0.17% copper, 0.15 g/t gold and 12 ppm molybdenum from 43.2 metres including grades of up to 3.27% copper, 0.62 g/t gold and 180 ppm molybdenum.
Porphyry signatures are there
The assays continue to present evidence suggesting a copper-gold-molybdenum porphyry deposit is nearby.
Multiple porphyritic intrusives have been intersected over a trend of 2.5 kilometres and a width of 1.5 kilometres.
These intrusives are associated with elevated chalcopyrite, molybdenite and gold mineralisation, and extensive zones of sulphide mineralisation.
Together, these are signature features of porphyry copper-gold-molybdenum mineralised systems.