Half Yearly Report
Sydney, Mar 13, 2015 AEST (ABN Newswire) - Argent Minerals Limited (
ASX:ARD) has concluded the first half of the 2015 financial year with the advancement of the Kempfield and West Wyalong projects to 'company maker' potential. Highlights of this report include:
EXPLORATION
KEMPFIELD
* Deep diamond drilling program designed and commenced to test large polymetallic VMS system potential
- Drilling program targets high grade base and precious metals in the Western Prospective Area
- Four hole drill plan for a total of 1,900 metres
- Deepest drilling in over four decades of Kempfield exploration - up to 650 metres
* Preliminary results verify Argent interpretation of a significant polymetallic system
- 5m @ 4.0 g/t gold from 353 m intersected by the first hole
- Pyrite/gold mineralisation and host rock alteration indicative of a high temperature feeder zone
- Verified model predicts adjacent high grade base metals
- Extended assaying underway for the core on either side of the 5m @ 4.0 g/t from 353 m sample
* Award of NSW State Government funding grant based on merit
- Kempfield drilling program selected as a key project for NSW Government investment following assessment performed by a panel of independent expert geoscientists
- $158,400 awarded to Argent for the Kempfield drilling program - one of the five largest grants
* Drilling program underpinned by significant advances in exploration techniques
- Comprehensive model developed for mineralisation not detected by traditional survey techniques
- Systematic approach draws on industry best-practice expertise and incorporates geochemistry and advanced geophysics featuring breakthroughs in lead-zinc detection
- Base and precious metal zonation data announced for Kempfield Mineral Resource
WEST WYALONG
* Large porphyry copper-gold target identified - Argent earns 51% equity in project, 70% goal in sight
CORPORATE FUNDING
* Argent continues to differentiate itself as a capital-efficient operation
- A total of approximately $979,000 in funding secured through an R&D claim of $173,000, the NSW Government cooperative drilling grant of $158,400, and a placement to sophisticated investors of $648,000. More than $330,000 of the total funds raised is non-dilutionary.
To view the full report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ARD-712862.pdf
About Argent Minerals Limited
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.
| ||
|
