Silver play Argent Minerals launches drilling targeting areas outside of current Kempfield resource

Argent Minerals starts maiden drilling to test mineralised trends at its Kempfield project
Targeted areas are outside of the current contained resource of 142.8 Moz silver equivalent
Drilling could increase the overall tonnage and grade at Kempfield

Special Report: Argent Minerals has started maiden drilling to test extensive mineralised trends that host high-grade surface silver-base metals areas at its Kempfield polymetallic project in NSW.

The 54-hole reverse circulation program totalling ~3500m will test 13 high priority regional targets at the Kempfield NW, Sugarloaf Hill, Henry and Golden Wattle prospects, which are all outside the current resource of 63.7Mt grading 69.75g/t silver equivalent, or contained resources of 142.8Moz silver equivalent.

Argent Minerals (ASX:ARD) notes that the drilling will seek to confirm that the newly discovered Kempfield NW and Sugarloaf Hill prospects host VMS polymetallic-style mineralisation proximal to the Kempfield deposit.

Drilling will also confirm Golden Wattle and Henry Zone as potential orogenic gold-style mineralisation and delineate new mineralised extensions/zones outside the current resource area within the wider project.

This may result in an overall increase in tonnage and grade of the current resource.

“Argent is pleased to announce that we have commenced drilling over our flagship project, Kempfield in NSW,” managing director Pedro Kastellorizos said.

“Recent work in the project area has delineated significant walk-up drill targets which are yet to be systematically drill tested.

“We will be testing the recently identified 13 zones over Kempfield NW, Sugarloaf Hill, Henry’s and Golden Wattle Prospects along strike and depth. From our most recent reconnaissance program, we have added additional RC drillholes based on newly delineated outcropping barite zones.”

Argent, Minerals, ASX, ARD, Kempfield, Deposit, Mineralised, Trends, Silver — RC drilling at Kempfield NW. Pic: Argent Minerals

Silver, base metals in focus

Kempfield is just 40km southeast of Newmont’s Cadia Valley project and belongs to a group of VMS deposits known as the Eastern Australian Palaeozoic deposits, a major source of base metals in the country for more than 100 years.

While already known for its base metals, deep diamond holes drilled in 2023 turned the project into one of Australia largest silver deposits.

That status means there is sufficient data for preliminary mine planning.

Since then, surface sampling has uncovered Kempfield NW as a major mineralisation extension from the Kempfield deposit and delineated extensive silver, lead and zinc mineralisation over the Sugarloaf Hill east of the deposit.

The current drill program over these and other prospects is expected to complete in late October.Following gold higher and facing major deficits due to growing industrial use, largely in solar panels, Silver prices are at long term highs of US$31/oz, having traded around 30% lower at the start of 2024.

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.