Argent Minerals Ltd. Kempfield Deep Diamond Drilling Update - Hole 2 Completed
16.03.2015 | ABN Newswire
Sydney, Australia (ABN Newswire) - Argent Minerals Ltd. (ASX:ARD) (Argent, Argent Minerals or the Company) is pleased to report the completion of Hole #2 of the Kempfield deep diamond drilling program.HIGHLIGHTS:
- Hole #2 completed at 702 metres, approximately 52 metres beyond the original planned length
- Deepest hole in over four decades of exploration at Kempfield
- Diamond core progressively cut and submitted for assays
- Entire 702 metre hole successfully cased in preparation for downhole survey
Managing Director David Busch said, "Hole #2 has been completed at 702 metres, approximately 52 metres beyond the original planned length of 650 metres.
"This is the deepest hole to be drilled in over four decades of exploration history at Kempfield, and has been drilled into the highly prospective area immediately to the West of the existing deposit.
"Holes #1 and #2 of the Kempfield drilling programme have been designed to test two of the interpreted volcanogenic massive sulphide (VMS) lenses of Argent's exploration model, Lenses 4 and 5, as well as a potential feeder zone.
"Preliminary results released on 25 February 2015 revealed that the first hole (AKDD178) had intersected 5 m @ 4 g/t gold from 353 m. This significant grade of the gold mineralisation intersected, together with the style of mineralisation and the host rock alteration, are indicative of a high temperature VMS feeder zone.
"The results of this first hole, whilst preliminary, are a favourable indication in relation to the Argent model, and accordingly, the prospectivity of a potentially significant VMS polymetallic system at Kempfield featuring high grade base and precious metals in addition to the existing substantial silver deposit.
"Diamond core samples have been progressively cut and submitted to the laboratory, a process which is expected to be finalised this week. Assay results are expected to be completed approximately 10 working days from the submission of all samples.
"Hole #2 has been successfully cased to its full length with a hybrid high pressure conduit and polyethylene agricultural pipe technique developed by Argent. This is an excellent outcome given that the casing cannot always be completed for holes as deep as this, due to the significant friction encountered by the casing.
"The casing is designed to maintain the condition of the hole for the downhole geophysics surveys as well as to protect the instrument that will be used to perform the surveys. The downhole surveys for Hole #1 and # 2 will be the deepest geophysics conducted at Kempfield.
"This is a very exciting time for Argent Minerals as the Company performs the deepest exploration in over four decades at Kempfield, and tests the Western Prospective Area for high grade base and precious metal mineralisation from the basin margin adjacent the historic Colossal Reef copper mine, and eastward through to underneath the existing deposit".
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ARD-713310.pdf
About Argent Minerals Limited:
Argent Minerals Ltd. (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.
Contact:
David Busch, Managing Director
Argent Minerals Ltd.
M: 0415 613 800
E: david.busch@argentminerals.com.au