Argent says there is now a strong foundation for further resource growth at the Kempfield project in NSW. Pic: Getty Images
Argent’s new Kempfield silver resource shines at 65.8Moz
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- Overall silver ounces at Kempfield have increased from 42.8Moz to 65.8Moz
- The updated silver resource positions the project as Australia’s second largest silver asset
- Resource growth via first pass RC drilling will begin once all approvals have been received
Special report: Argent Minerals’ Kempfield deposit now contains 65.8Moz of silver, an increase of 23Moz of silver metal from a previous estimate of 42.8Moz.
Kempfield belongs to a peer group of VMS deposits known as the Eastern Australian Palaeozoic deposits which have been a major source of base metals in the country for more than 100 years.
But while the project boasts a growing number of lead, zinc and gold trends that position Kempfield as a provider of base metals, the precious metals part of the story flew largely under the radar of investors before Pedro Kastellorizos came on as Argent Minerals’ (ASX:ARD) managing director in 2022.
The explorer spent much of 2023 drilling deep diamond holes into the resource area, eventually resulting in an upgrade to 38.9Mt grading 102.4g/t silver equivalent for a contained resource of 127.5Moz silver equivalent.
Adding further interest, most of the resource – 22.5Mt at 109g/t silver equivalent – was contained within the higher confidence indicated category, which has sufficient data for preliminary mine-planning.
That cemented Kempfield, 8km west of Trunkey Creek in NSW, as one of the State’s largest silver deposits.
Silver ounces increase by 54% to 65.8Moz
Kempfield’s silver ounces have now grown even further by an additional 54% from 42.8Moz to 65.8Moz, an increase of 23Moz of silver metal content.
The silver resource for all categories has been upgraded to 63.7Mt at 69.75g/t silver equivalent for 142.8Moz silver equivalent.
As well as silver, the deposit also contains 125,192oz gold, 207,402t lead and 420,373t zinc.
“This exceptional new resource cements Kempfield as the second largest undeveloped silver deposit in Australia,” Kastellorizos says.
“The significance of the estimate, both in size and the associated value of the metal content within the resource area is substantial.
“Argent believes the discovery of further mineralisation within the project area will enhance the overall value of future operations.”
More resource drilling planned
ARD’s technical team believes the deposit has potential for additional resource growth along strike, down hole plunge, and depth.
The explorer will be planning the next phase of drilling within Kempfield, Sugarloaf Hill, Henry’s and Golden Wattle Zone Area with a view of increasing the tonnage and grade of the current estimation.
First pass RC drilling will begin once all drilling approvals have been received by the NSW Regulator.
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.
