Argent Minerals Unveils New High-Grade Silver Discoveries at Kempfield
ARD (ARD) Share Update September 2024 Tuesday 17th
Argent Minerals Announces New High-Grade Silver Discoveries at Kempfield
Argent Minerals Limited (ASX: ARD) has announced promising assay results from its rock chip sampling program at the Kempfield Polymetallic Au-Ag-Pb-Zn Project in New South Wales, confirming extensive mineralisation of silver, gold, lead, and zinc.
Instant Summary:
- High-grade silver assays up to 126 g/t Ag discovered.
- Significant gold, lead, and zinc mineralisation confirmed.
- New mineralised zones identified in the Kempfield NW and NE Zones.
- Further 54 geochemical assay results pending from Trunkey Creek Gold Project.
Assay Results and Discoveries
Argent Minerals Limited has reported exciting new assay results from its rock chip sampling program at the Kempfield Polymetallic Project. The program focused on the NW and NE Zones of the Kempfield deposit, revealing high-grade mineralisation of silver, gold, lead, and zinc.
In the Kempfield NW Zone, silver assays reached up to 117 g/t Ag, with notable samples including 117 g/t Ag in sample 3001009 and 73.4 g/t Ag in sample 3000996. Similarly, the Kempfield NE Zone yielded silver assays as high as 126 g/t Ag, with significant findings such as 126 g/t Ag and 0.23 g/t Au in sample 3000937 and 2.45 g/t Au and 13.5 g/t Ag in sample 3000940.
Geological Context
The Kempfield NW and NE Zones are extensions of the Kempfield Deposit, discovered in March 2024. The NW Zone now extends approximately 1.97km along strike with an average width of 100m, while the NE Zone spans about 1km along strike with an average width of 170m. Both zones are hosted within gossanous barite lithologies, indicating significant mineralisation potential.
Argent Minerals is currently drilling these newly defined zones to further delineate the extent of the mineralisation. Additionally, the company is awaiting further assay results from the Trunkey Creek Gold Project, situated 9km southeast of the Kempfield Deposit.
Management Comments
Argent Managing Director, Mr. Pedro Kastellorizos, expressed his excitement over the latest findings, stating, 'We are delighted that the latest surface assay results have confirmed new mineralised gossan/baritic lithologies within the Kempfield NW and NE Mineralised Zones. These exciting new zones host the same geology and geochemical signatures as the main mineralisation over the Kempfield Deposit.'
Mr. Kastellorizos further highlighted the potential for significant exploration upside at Kempfield, given the dimensions of the newly defined mineralised zones, which surpass the existing Kempfield JORC Resource area.
The discovery of high-grade silver, gold, lead, and zinc mineralisation at Kempfield is a positive development for Argent Minerals. These findings could lead to an increase in the company's stock price as investors react to the potential for expanded resources and future production. The ongoing drilling and pending assay results from Trunkey Creek will be crucial in determining the full impact of these discoveries.
Investor Reaction:
Analysts are likely to view these results favorably, given the high-grade nature of the mineralisation and the potential for significant resource expansion. Investor sentiment is expected to be positive, with a focus on the upcoming drilling results and further assay data.
Conclusion:
Investors should keep a close watch on Argent Minerals' ongoing exploration activities at Kempfield and the pending assay results from Trunkey Creek. The company's strategic response to these promising discoveries will be key in maintaining and potentially boosting investor confidence.