Argent Minerals (ASX:ARD) has increased the silver content by 54% for its Kempfield silver deposit, which lies within the Kempfield Silver-Gold-Lead-Zinc Project in New South Wales.
The increased silver content for Kempfield has increased from 42.8 million ounces to 65.8 million ounces, positioning the deposit as the second largest undeveloped silver deposit in Australia.
Argent Minerals, which has a market capitalisation of $24.36 million, reports the updated resource estimate for the Kempfield deposit contains 65.8 million ounces of silver, 125,192 ounces of gold, 207,402 tonnes of lead, and 420,373 tonnes of zinc.
The Kempfield silver deposit resource estimate for all categories has been upgraded to 63.7 million tonnes @ 69.75 grams per tonne silver-equivalent for 142.8 million ounces of silver-equivalent, representing a 12% increase from the previous resource estimate conducted in 2023.
Managing Director Pedro Kastellorizos says the significance of the resource estimate, in size and associated value of the metal content within the resource area, is substantial.
“The company believes the discovery of further mineralisation within the project area will further enhance the overall value of the future operations,” Kastellorizos says.
“Furthermore, our technical team believe the Kempfield deposit has substantial potential for additional resource growth, along strike, and downhole plunge and depth.
“Argent will be planning the next phase of drilling within the Kempfield northwest, Sugarloaf Hill, Henry’s and Golden Wattle Zone area with a view of increasing the tonnage and grade of the current resource estimation.”
The current resource dimensions are 2.3km in strike by 400m in width, with mineralisation extending from surface down to 370m.
Argent Minerals has several activities planned for further resource growth including extensional drilling between Lode 200 and Lode 300, as well as drilling outside the resource area to the west, east, and north.
A first-pass reverse circulation drilling program over several areas will begin once all drilling approvals have been received by the New South Wales regulator.
Argent Minerals is a junior explorer focused on the discovery, extraction, and marketing of precious and base metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Argent Minerals
