Argent Minerals Limited: Major Deep Diamond Drilling Program to Commence at Kempfield

Sydney, Australia (ABN Newswire) - Argent Minerals Ltd. (ASX:ARD) is pleased to announce details in relation to site preparations for a major deep diamond drilling program at the Kempfield Polymetallic Project.


HIGHLIGHTS:

- Site preparations underway for Kempfield extended reach deep diamond drilling program, with preparations completed for the first two holes

- 7 hole 3,200 metre diamond drilling program to test for volcanogenic massive sulphide (VMS) mineralisation at depth beneath the estimated 21.8 Mt JORC 2012 Mineral Resource, and adjacent identified mineralisation potential

- Deep diamond drilling program targets high grade base and precious metals, including adjacent the area which produced intersections of 18m @ 9.8% Pb/Zn, 113 g/t Ag & 0.26 g/t Au from 85 m, including 5m @ 17.9% Pb/Zn, 259 g/t Ag & 0.34 g/t Au from 88m

Managing Director David Busch said, "Preparations are underway for the extended reach deep diamond drilling program announced on 29 April 2015, with the drill sites for the first two holes now ready for drilling.

"This is an exciting phase of the Kempfield drilling program that we have all been looking forward to, as the Company prepares to test the validated deposit model for depth and strike extensions to existing mineralised lenses, and for new lenses.

"Most of the historical drilling at Kempfield has been relatively shallow to only 120 metres, leaving significant potential for mineralisation open both at depth and in substantial untested areas immediately to the west of the known deposit, as well as up to 4 km along strike to the North.

"While the historical drilling resulted in a substantial, high quality JORC 2012 Mineral Resource estimate of 21.8 million tonnes, 82% of which is in either Measured or Indicated category, it remains open at depth.

"Of particular interest is what the drilling program will reveal beneath deposit, where grades of up to 17.9% combined lead/zinc were intersected by Hole AKDD159, which the Company considers to be among the highest grade base and precious metal intersections of this type in Australia. The extended reach drilling program announced on 29 April 2015 comprises a total of seven holes for 3,200 metres, comprising NSW Government funded Holes 3 and 4 for 550 and 600 metres respectively, and five additional holes totalling 2,050 metres.

"We are looking forward to commencing this next exciting phase of exploration following the completion of the Private Placement and Share Purchase Plan announced earlier today, as Argent continues its highly methodical search for high grade base and precious metals at Kempfield, and as London Metals Exchange prices and dwindling stock levels continue to factor in compelling supply demand expectations in favour of zinc".


About the validated deposit model and the extended Kempfield deep diamond drilling program

The additional holes have been designed to test the recently validated Volcanogenic Massive Sulphide deposit model which predicts the potential for significant depth extensions to mineralised lenses below the known deposit. Most of the historical drilling at Kempfield has been relatively shallow to only 120 metres for most of the deposit, and only 80 metres for the southern section of Lens 1, with the intersected mineralisation leaving the majority of the deposit open at depth.

Figure 1 in link below shows the validated Kempfield deposit model showing significant potential at depth (West-East section).

The recently validated deposit model also predicts the increased likelihood of a high grade lead/zinc zone between the Hole #1 intersection of 5 m at 4 g/t Au from 353 m in strongly silicified and chlorite-altered host rock with quartz/pyrite/pyrrhotite and pyrite/pyrrhotite stockwork (indicative of high temperature deposition), and the western portion of the known deposit where hole AKDD159 intersected high grade base metal mineralisation (Figure 2, in link below).

Figure 3 in link below shows an example section view of a hole (Hole 4) design to test for lens depth extensions.

See Figure 4 in link below for a plan view of the announced drilling plan, including Holes 3 and 7 designed to test for high grade Pb/Zn target zones in the form of either new VMS lenses or extensions to existing known lenses.


NSW Government grant and R&D claims

Argent has received a $158,400 grant from the NSW State Government Cooperative Drilling initiative in relation to the drilling program. Based on merit assessed by an independent panel of geoscientists, the Kempfield deep diamond drilling program is one of the five largest grants to be issued under the Cooperative Drilling Initiative, and will be paid to Argent by the NSW Government on completion of the drilling and associated technical reports.

Based on its experience with Federal Government's Research and Development Tax Concession claims (R&D Claim) (over $2 million in R&D Claim funds have been received since July 2013), Argent expects to continue its track record of capital efficiency by successfully applying for and receiving R&D Claim funds in relation to costs associated with the Kempfield extended reach diamond drilling program.

To view Figures, please visit;
http://media.abnnewswire.net/media/en/docs/ASX-ARD-721983.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:

Argent Minerals Ltd.
T: +61-2-9262-2211
F: +61-2-9475-5346
E: admin@argentminerals.com.au
www.argentminerals.com.au