Argent Minerals (ASX:ARD) has completed its second helicopter-borne rock chip reconnaissance survey across its Copperhead Project in Western Australia, confirming the potential for 3 different styles of deposits.
The $12.37 million market capitalisation company says the 3 potential deposit styles include sediment-hosted stratiform copper deposits, sedimentary exhalative lead-zinc deposits, and lithium-caesium-tantalum (LCT) pegmatites style of mineralisation.
Argent used sample assays received from 147 rock chips collected at Copperhead as part of the reconnaissance work, with Sugden Geoscience completing a detailed review of the results to assess the economic potential of the project.
‘High-grade’ rock chip assay results returned 21.1% copper (Cu), 20.6g/t silver (Ag), 22.8% manganese (Mn), 0.38% zinc (Zn), 0.13% cobalt (Co), and 905 parts per million (ppm) total rare earth element (TREE).
However, further work is required to validate these findings. Argent plans to conduct groundwork to focus within the pegmatites and schist lithologies in its upcoming reconnaissance programs.
Commenting on the Copperhead potential, Argent Minerals Managing Director Pedro Kastellorizos says: “We are delighted to have independent confirmation of several styles of mineralisation which might be hosted within our Copperhead Project. More than half of the world’s zinc and lead has come from SEDEX deposits like Mt Isa in Australia, Red Dog in Alaska, and the former Sullivan Mine in Canada.
Sediment-hosted stratiform copper (SSC) deposits have historically been an important source of copper. Accounting for about 20% of global Cu production, SSC deposits are second only to porphyries in Cu and are also the fourth largest source of silver and the most important source of cobalt.
The project is still delivering highly prospective areas previously unknown until Argent commenced its exploration activities. These areas include 2 zones within E08/3463 which have the potential to yield LCT-style lithium-tantalum mineralisation.”
“The project is still delivering highly prospective areas previously unknown until Argent commenced its exploration activities“
The company reports rock chip assays confirmed the project has the right source rocks and the correct chemistry within the pegmatites, which are both ‘important’ factors of LCT pegmatite systems.
The Copperhead Project is located northeast of Carnarvon and southwest of Karratha in the Gascoyne region of Western Australia.
Argent Minerals is a precious and base metals explorer with a portfolio of assets covering 1,734km-square of exploration ground in New South Wales, 1,038km-square in Western Australia, and 104km-square in Tasmania.
As of 30 June 2023, the company had $1.97 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Argent Minerals