Argent spots polymetallic VMS potential at Kempfield
Mining
Mining
Special Report: Argent Minerals has discovered shallow, high-grade volcanogenic massive sulphide gold-silver-lead-zinc mineralisation at the Henry’s and Sugarloaf Hill prospects at its Kempfield project in NSW.
Kempfield hosts 63.7Mt at 69.75g/t silver equivalent for 142.8 million ounces, containing 65.8Moz silver, 125,192oz gold, 207,402t lead and 420,373t zinc – and is registered as a New South Wales State Significant Development Project. The large, high grade nature of the resource puts Argent Minerals (ASX:ARD) in the box seat to eventually develop the project amid rising gold and silver prices.
The significance of the VMS mineralisation is that these deposits are often associated with copper, lead and zinc, can occur in clusters and have the potential to produce economic gold and silver by-products.
They’re typically high in grade and contain multiple saleable metals, making them cheap to operate on a smaller scale with lower development costs than bulky low-grade deposits.
Drilling at Henry’s intersected a 24m thick high-grade VMS style zone which remains open along strike and depth. Notable assays include:
Plus, a new VMS system has been delineated at Henry’s around 2km east of the Kempfield’s Lode 300 Mineralised Block.
At Sugarloaf Hill, the drilling intersected an additional 46m thick VMS style mineralisation from surface. Notable results include:
The results also extended the newly discovered VMS silver-lead-zinc mineralised zone to a strike length of 520m, which remains open along strike and depth.
The company says the assay results reinforce the significant upside potential of the Kempfield project as it continues to expand the mineralised footprint well beyond the current Kempfield deposit.
Further drilling is now required to intersect sulphides at depth at Henry’s and extensional drilling programs are planned at Sugarloaf Hill to delineate the full extent of mineralisation.
“We are extremely pleased with the recent VMS discoveries east and southeast of the main Kempfield polymetallic deposit,” Argent Minerals MD Pedro Kastellorizos said.
“The high-grade silver and base metal discovery at Henry’s prospects represents a significant regional exploration success.
“The discoveries have potential for a major VMS cluster system with the team planning to test additional regional targets. We look forward to updating the market with further drilling results from the Kempfield NW Prospect.”
This article was developed in collaboration with Argent Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.