Argent Minerals Limited: Annual Report 2018
10.10.2018 | ABN Newswire
Sydney, Australia - Argent Minerals Ltd. (ASX:ARD) provides the Company's Annual Report 2018.2018 HIGHLIGHTS
KEMPFIELD ADVANCES TO LARGE SCALE POTENTIAL
- New development scenario potential identified
o Major zinc-silver-lead-gold project situated in large-scale mining growth neighbourhood.
- Significant Mineral Resource updated to:
o 100 million ounces at 120 g/t Ag Eq silver equivalent contained metals - approximately doubled;
o 520,000 tonnes Zn Eq at 2.0% Zn Eq zinc equivalent - newly reported in 2018.
- JORC-compliant Exploration Target estimated for further significant potential mineralisation:
o Additional 58 to 190 million ounces Ag Eq at 80 to 130 g/t Ag Eq contained silver equivalent;
o Additional 300,000 to 1 million tonnes Zn Eq at 1.3 - 2.1% Zn Eq contained zinc equivalent.
An Exploration Target is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade, relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource. The potential quantity and grade of the Exploration Target is conceptual in nature, there has been insufficient exploration to estimate an additional Mineral Resource and it is uncertain if further exploration will result in the estimation of an additional Mineral Resource.
- Exploration and infill drilling programme announced
- Metallurgical breakthroughs
o Successful separation of primary material into potentially marketable, commercial grade zinc and lead concentrates also containing silver and gold;
o Substantial improvement in recoveries, including zinc up to 92% (from 50% historical assumption);
o Potential revenues led by zinc (45%), closely followed by silver (36%), then lead and gold.
- New 3D geology and exploration model
o Providing enhanced insight into potential mineralisation areas, to guide drilling target generation;
o Copper-gold footwall and several potential feeder zones identified for drill targeting.
- Agreement executed with Kempfield neighbours
o Facilitates large scale project advancement - land purchase option and 'No Challenge' provisions;
o 2 year term extendable up to 4 years.
WEST WYALONG PORPHYRY COPPER-GOLD-MOLYBDENUM MINERALLISED SYSTEM IDENTIFIED
- Substantial porphyry copper-gold-molybdenum mineralised system confirmed by maiden diamond drilling
o Multiple intrusives intersected over 2.5 kilometre north-south strike and 1.5 kilometre east-west extent;
o 4 square kilometre prospective area delineated;
o Big Cadia and Ok Tedi analogy indicated by the drilling results.
- Argent interest increased to 78%
o Right to earn up to 90%.
LOCH LILLY DRILLING YIELDS POSITIVE RESULTS REQUIRING FOLLOW UP
- Mineralisation potential analogous to Mount Read Volcanics Western Tasmania
o 51% interest earned by Argent during 2018, right to earn up to 90%.
- Maiden drill test of the Netley and Eaglehawk targets completed
o Both diamond holes intersected a series of porphyritic intrusives and alteration, with both assay sets yielding positive copper-gold porphyry geochemical suite results, and Netley yielding elevated copper.
ACQUISITIONS IN WORLD CLASS MOUNT READ VOLCANICS BELT WESTERN TASMANIA
- Ringville and Queensberry
o Strategic footprint acquired in productive high grade Mount Read Volcanics Belt:
o Ringville - strategically situated between two world class mines - the Rosebery high grade zinc-leadcopper- gold-silver mine owned by MMG Ltd., and the Renison Bell Tin Mine owned by Metals X;
o Queensberry - heavily populated with old mine workings including the historic Queensberry Mine, where production yielded grades of up to 40-56% lead, and 6-7 ounces/tonne silver.
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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.
Source:
Argent Minerals Ltd.
Contact:
Argent Minerals Ltd. David Busch, Managing Director T: +61-2-9300-3390 E: admin@argentminerals.com.au WWW: www.argentminerals.com.au