공시 • Sep 24
Argent Minerals Limited Provides Exploration and Drilling Update
Argent Minerals Limited provided an exploration and drilling program update. Kempfield RC Drilling Program: Kempfield Stage 1 RC drilling program was affected by rain allowing only 5 days of drilling in the past 6 weeks. To date 1,725 meters have been drilled over the current 3,500-metre drilling program and favorable weather conditions are forecast in September and October that will assist its safety management plan and improved ground conditions. The Company is expected to receive assay results for the first 400 samples in the next two or three weeks and a further 1,300 sample results in late October. Interstate transport and laboratory availability to process samples has been affected by COVID-19 related delays. The Company will report assay results with faster turnaround from October onwards and the laboratory in Orange has commenced sample preparation on the second batch of samples. Outstanding results from Kempfield rock chip sampling program: The Company has been conducting surface rock chip sampling outside the Kempfield resource area since March 2020. Rock chip sampling continued in July and September and to date over 32 samples have been taken containing gold, silver, copper, lead, zinc and barite assay results. The rock chip program will define anomalous extensions to the Kempfield resource with reconnaissance and target drilling programs. The rock chip sampling programs have targeted the gold-copper footwall areas, barite test pits, historic barite production quarries and old gold, silver and copper prospects to the south and north of the existing Kempfield resource area. The rock chip sampling will continue until December running alongside the drilling programs at Kempfield and Pine Ridge. Kempfield Copper Shaft gossan located centrally within the Kempfield resource Au, Ag, Cu, Pb, Zn lode containing: 85.1g/t Ag, 62.8% BaO. Colossal Reef approximately 1.1 km to the west of Kempfield with the highest assay results containing: 4.96% Cu, 0.96g/t Au, 40.2 g/t Ag and 1.56% Pb. and 300 meters further west containing: 0.81g/t Au, 79.6g/t Ag, 0.31% Cu, 0.61% Pb Mastodon quartz reef outcrops 2.8km to north-north west outside of the Kempfield resource area with the highest assay results containing: 2.15g/t Au, 0.1% Pb Henry Zone North 900 meters north-north east of the Henry Zone lode with the highest assay results containing: 236g/t Ag, 64% BaO, 0.15% Pb and 450 meters south east: 359g/t Ag, 0.93% Pb, 0.68% Zn, 53.8% BaO Sugar Loaf Hill historic silver -gold and copper prospect 1.4km south east of Kempfield resource area with the highest assay results containing: 0.4g/t Au, 123 g/t Ag, 0.23% Pb, 58.3% BaO Kempfield Stage 3 RC Drilling Program: The gradual increase and relative stability in commodity prices for gold, silver, zinc and copper prices since the onset of COVID-19 has led the Company to accelerate the exploration program and bring forward its Kempfield Stage 3 RC drilling program to early 2021. By combining historical drilling data, the current RC extension drilling program and mineralised rock chip sample results, the Company has identified infill areas and has planned for a further Stage 3 RC drilling program over: Henry Zone to Henry Zone North; Kempfield South to the Sugarloaf Zone; Kempfield West; and In fill between Kempfield Zone and Henry Zone. The aim of program is to increase the existing resource model by drilling up to 10,000 - 12,000 meters of RC drilling and that could advance the project through to formal development studies. Pine Ridge Goldmine RC Drilling Program: The 2,200m pine ridge RC drilling program will commence in late October 2020 to coincide with the completion of the Kempfield stage 3 reverse circulation program. Extensive rain has delayed the Pine Ridge program and drill rig availability has resulted in the Company prioritizing the Kempfield program over pine Ridge. The Company will update the market as soon as the drilling company mobilizes from Kempfield to Pine Ridge next month. Geophysical Interpretation Update - Pine Ridge and Tasmanian Projects: The Company has continued to work closely with geophysical consultants for the Pine Ridge Gold Mine preparing the geophysical interpretation of the magnetic and radio metric geophysical survey data completed in May 2020. The Company is also working with other geophysical consultants preparing the geophysical interpretation of seismic lines and overlying magnetics over the Loch Lily tenements and NW Tasmanian tenements. The Pine Ridge geophysical modelling is complex however a scope of work in building the geophysical model has been undertaken and once complete a Interpretation Report will be forth coming.