Argent Minerals Limited - Commences Deep Diamond Drilling at Kempfield

Sydney, Australia (ABN Newswire) - Argent Minerals Ltd. (ASX:ARD) (Argent, Argent Minerals or the Company) is pleased to advise that it has commenced the extended reach deep diamond drilling program at the Company's Kempfield Polymetallic Project in New South Wales.

The first of two diamond drilling rigs arrived at site on Wednesday 21 October 2015, to commence drilling the first hole of the planned seven hole 3,200 metre program.

An additional drill rig will mobilise to Kempfield within the next few days to commence drilling the second hole in parallel with the first hole for an accelerated start to the program.

The deep diamond drilling program will test the high grade base and precious metals potential identified by Argent at Kempfield featuring zinc, lead, silver and potentially, gold, with the first two holes testing for extensions to known mineralisation at depth, and obtaining important stratigraphic information.

The program will test beneath the relatively shallow region of historical drilling, which left the majority of the deposit open below 120 metres depth.

Following a series of methodical investigations that uncovered a range of scientific evidence, including high grade lead and zinc intersections of up to 5 metres @17.9% Pb/Zn from 88 metres, and 5 metres @ 4 g/t of gold, both immediately to the west of the known deposit, the Company has developed a genesis model for the deposit with potentially significant implications for the Kempfield Polymetallic Project.

The model implies that the historical drilling, which resulted in a JORC 2012 Mineral Resource estimate of 21.8Mt containing 52 million ounces of silver equivalent in contained silver, gold as well as lead and zinc, may have only identified the upper 120 metres of a series of parallel mineralisation lenses that could extend to substantial depths.

The model also predicts the potential extension to existing lenses along strike, as well as the possibility of new lenses, both of which are also consistent with the characteristics of this type of deposit - Volcanic-Hosted Massive Sulphides (VHMS).

Most significantly, the model and other analysis performed by the Company, both imply the potential for the discovery of high grade lead/zinc lenses at Kempfield associated with higher temperature deposition processes.

This deep diamond drilling program will test the deposit model within the immediate vicinity of the existing deposit, as the Company also begins preliminary field reconnaissance work to investigate the potential for repetition of mineralisation along a strike length of up to 4 kilometres.

About the first two holes

Figure 3 provides a plan view of the first two holes in the context of the 7 hole 3,200 metre program.

Hole AKDD181, referred to as 'Hole #3' in previous announcements, has been designed to test to target depth extensions of Lens 2 and Lens 1, and will provide important stratigraphic information at depth.

The rhyolite porphyry body to the north, intersected by AKDD177, has an intimate association with the distribution of lenses. AKDD181 will test the southern extent of the rhyolite porphyry, and the relative position of lenses. The stratigraphic information obtained will be employed to vary the design of remaining holes in the program.

Hole AKDD180, referred to as 'Hole #4' in previous announcements, will test for depth extensions to Lens 3, Lens 2, and potentially, Lens 1.

It should be noted that for all holes shown in Figure 3, the positioning, design, actual hole length, and drilling order are all subject to ongoing variations as the drilling program progresses.

The Kempfield deep diamond drilling program is being conducted under the direct supervision of Argent Exploration Manager, Mr. Todd McGilvray, who joined Argent in September 2015.

Originally trained at CODES and graduating with an honours degree in economic geology, Mr. McGilvray's credentials include the leadership of the exploration effort that resulted in the discovery of new VHMS mineralisation lenses for an additional 22 million tonnes of high grade base and precious metals at MMG Ltd.'s Rosebery deposit in Tasmania, extending the mine life to 88 years.

To view figures, please visit;
http://media.abnnewswire.net/media/en/docs/ASX-ARD-738337.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