Argent uncovers ‘massive’ mineralisation

Argent Minerals (ASX:ARD) has uncovered a ‘massive’ silver-base metal mineralisation northeast from its main Kempfield polymetallic deposit in New South Wales. 

Through a surface sampling program, Argent, which has a market capitalisation of $12.91 million, has received ‘high-grade’ surface rock chip samples that highlight the potential for ‘significant’ extensions to Kempfield. 

At the deposit’s northwest zone, assay results returned up to 177 grams per tonne silver, 1.89% lead, and 1.21% zinc.

Meanwhile, at the northeast zone assays returned up to 41g/t silver and 0.25% zinc. 

Managing Director Pedro Kastellorizos says these ‘exciting’ new zones host similar geology and geochemical signatures as the main mineralisation over Kempfield. 

“Based on the designed mineralised dimensions, the strike of the mineralised zones surpasses the existing Kempfield JORC resource area, elevating Kempfield’s exploration upside. 

We plan to drill these newly defined mineralised zones in 2024 once all regulatory approvals have been granted to Argent.”

Today (27 March 2024), Argent’s share price had spiked 20% to $0.012 as of 12pm AEDT.

The company reports the mineralised extension known as Kempfield northeast mineralised zone, is 1km along strike with an average width of 170m. The mineralisation is hosted within a gossanous barite volcanic/meta-sediment unit within the zone still open to the northeast and east. 

The company is still awaiting geochemical assays for 185 samples. 

Argent Minerals is a mineral resources explorer focused on discovering, extracting, and marketing precious and base metals. The Kempfield deposit lies in the Lachlan Orogen in New South Wales. 

As of 31 December 2023, the company had $1.976 million cash and cash equivalents at hand, according to its latest quarterly report. 

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Images: Argent Minerals
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.