Argent Minerals Limited: Interim Financial Report - Half Year Ended 31 December 2017
06.03.2018 | ABN Newswire
Sydney - Argent Minerals Ltd. (ASX:ARD) ('Argent' or 'the Company') has concluded the first half of the 2018 financial year with significant advancement of the Kempfield, West Wyalong and Loch Lilly projects.Strategic acquisitions were also completed in the world-class Mount Read Volcanics Belt of western Tasmania.
Highlights of this period include:
EXPLORATION
KEMPFIELD
- JORC-Compliant Exploration Target estimate for infill drilling programme
o Unprecedented deposit scale to multiples of current dimensions
o 3D Kempfield geology and exploration model
- Excellent metallurgical test results
o Kempfield economic feasibility progression
MOUNT READ VOLCANICS BELT
- Acquisitions in world-class mine belt
o Ringville - next to Renison Bell Tin Mine and Rosebery Polymetallic Mine
o Queensberry - near Mount Lyell copper mine
- Pre-JORC mineralisation estimates for tin, lead and zinc in both tenements
- Rapid kick start and strategic complement to Argent's asset portfolio
WEST WYALONG
- Maiden drilling yields evidence of near position to copper-gold porphyry
- Big Cadia and Ok Tedi analogy indicated
- Argent stake in project advances to 77.57%
LOCH LILLY
- Drilling results for first two diamond holes
- Potential outer halo of a mineralised porphyry copper system intersected
CORPORATE
- 75% cash rebate received for Loch Lilly direct drilling costs
- $693,748 funds received - research and development claim
- Heavily oversubscribed private placement raises $1.2 million
- Cash position $2.5 million
To view the full report, please visit:
http://abnnewswire.net/lnk/N8V6Y1ND
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 Chief Executive Officer
Argent Minerals Ltd.
M: +61-415-613-800
E: david.busch@argentminerals.com.au