First Drilling in 20 Years

Maiden Drilling Underway - Pine Ridge Gold Mine
Maiden Drilling Underway - Pine Ridge Gold Mine
Sydney, April 12, 2019 AEST (ABN Newswire) - Argent Minerals Limited (ASX:ARD) (Argent, or the Company) is pleased to provide this report for the Pine Ridge Gold Mine drilling programme.

The purpose of this initial drilling is to test potential depth and strike extensions to the high-grade mineralisation identified by historical drilling (24 October 2016 High Grade Au Identified in Trunkey-Kings Plain Gold Belt).

Highlights:

- First drillhole underway - Now at 42 metres, targeting 140 metres.

- Two more drillholes planned from same drill pad.

- Rapid progress achieved preparing access tracks and drill pads.

- The maiden drilling programme at Pine Ridge is the first drilling since 1998.

- Six holes (800 metres) will test depth and strike extensions of historical high-grade mineralisation.

- Historical intersections include 21 m @ 5.6 g/t Au from 50 m including 1 m @ 62.9 g/t Au from 59 m (PR010).

FIRST HOLE UNDERWAY

The first hole (APDD032) commenced last night, with 42 metres reported at 1:30 pm today. The target depth is 140 metres, subject to drilling conditions.

Two further holes to be drilled from the same Pad B to significantly reduce setup time for these holes.

The three holes on Pad B have been designed to also test potential strike extensions, as well as at depth.

ABOUT THE PINE RIDGE GOLD MINE DRILLING PROGRAMME

Significant milestone - first drilling 20 years

Potential depth and strike extensions

Six diamond holes planned for up to 800 metres will initially evaluate the Pine Ridge gold mine.

The six holes will be drilled from three pads. Two holes will be drilled from Pad A to test a potential high grade area, and a further hole will be drilled from Pad C.

The purpose of this initial drilling is to test potential depth and strike extensions to the high-grade mineralisation identified by historical drilling (24 October 2016 High Grade Au Identified in Trunkey-Kings Plain Gold Belt).

High historical intersection grades

Highlights of historical high-grade gold intersections reported by Argent for the Pine Ridge Gold Mine include:

- 21 m @ 5.6 g/t Au from 50 m (PR010)
incl. 1.0 m @ 62.9 g/t Au from 59 m;

- 10 m @ 4.1 g/t Au from 51 m (PR009)
incl. 1.0 m @ 20.6 g/t Au from 52 m;

- 10 m @ 3.7 g/t Au from 71 m (PR012)
incl. 1.0 m @ 11.2 g/t Au from 76 m;

- 18 m @ 2.4 g/t Au from 68 m (PR023)
incl. 1.0 m @ 5.3 g/t Au from 77 m.

To view figures, please visit:
http://abnnewswire.net/lnk/Q2H9928E


About Argent Minerals Limited

Argent Minerals Limited (ASX:ARD)Argent Minerals Limited (ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.

 


Contact

David Busch
Chief Executive Officer
Argent Minerals Limited
M: +61-415-613-800
E: david.busch@argentminerals.com.au



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