Argent Minerals Limited (ASX:ARD) has received $693,748 in relation to its research and development (R&D) claim for the financial year ending 30 June 2017.
The claim relates to a range of technical development activities associated with advancing the company’s Kempfield, West Wyalong and Loch Lilly projects in New South Wales.
Earlier this week, the company secured $1.2 million in a private placement to advance these precious and base metals projects.
READ: Argent Minerals secures funds for gold, silver, lead and zinc exploration
The funds from the R&D claim will also be applied to support Argent’s exploration and evaluation programs.
Together with $317,844 cash received from the NSW Government Cooperative Drilling program, a total of circa $1 million cash has been received during CY2017 from Australian Federal and State Government.
It is worth noting that the NSW Government Cooperative Drilling funding was awarded to Argent for its West Wyalong and Loch Lilly projects after a competitive assessment process.
The awards underline the quality of Argent’s projects, exploration programs and financial management, as assessed by the government appointed expert panels.
READ: Argent Minerals reveals unprecedented scale potential for Kempfield
Argent’s Kempfield project currently hosts a JORC resource of 52 million silver ounce equivalent, but this appears to be just the beginning.