logo-loader

Argent Minerals Limited reveals gold-silver camp potential for Kempfield

Published: 12:30 24 Oct 2016 AEDT

shutterstock_246849013_580d62c21fc16
Argent’s strategy is to identify potential satellite feedstock mining operations for Kempfield.

Argent Minerals Limited (ASX:ARD) is the first company to secure an exploration licence (EL8213) for the Pine Ridge gold mine area since its release from a 15 year lockup under a 3rd party Assessment Lease Application (ALA).

Reverse circulation drilling data under JORC 2012 code includes: 21 metres at 5.6g/t gold from 50 metres.

The importance of this for Argent is that the company has 100% ownership through a low cost tenement application process.

The Pine Ridge gold mine is located in a gold district that has significant unrealised potential, within New South Wales.

Argent’s strategy is to identify potential satellite feedstock mining operations within trucking (and/or conveyor) distance, to support a central mining and processing operation at Kempfield.

Kempfield currently hosts 21.8 million tonnes at 47g/t silver for 33 million silver ounces, + 300,000 tonnes lead/zinc.

The Pine Ridge gold mine has been identified as a potentially good fit for this strategy.

The Pine Ridge gold mine is located 17 kilometres south-southeast of Kempfield, and the Trunkey goldfields are located 7 kilometres to the east, which is all within the Trunkey-Kings Plain gold belt.


Trunkey goldfields highlights:

– High frequency cluster of gold lodes along 25 kilometres gold trend related to the Copperhannia Thrust.

– Slate belt gold district classification similar to Ballarat/Bendigo goldfields in Victoria, Beaconsfield in Tasmania, Hill End in New South Wales, and the Hodgkinson goldfields in North Queensland.


Pine Ridge historical reverse circulation highlights include:

– 21 metres at 5.6g/t gold from 50 metres, including 1.0 metre at 62.9g/t gold;
– 10 metres at 3.7g/t gold from 73 metres; and
– 18 metres at 2.4 /t gold from 68 metres.

Argent gathered the known available data for the Pine Ridge gold mine from the NSW Department of Industry, Division of Resources & Energy (DRE) database.

The data was then analysed and crosschecked to assess for integrity and quality, as well as the background information and explanations required for a compliant report of exploration results under JORC 2012.


Analysis

The reportable wholly-owned Pine Ridge assets include the drilling data and pre-feasibility study, which is JORC 2012 compliant.

The study includes pit design, favourable metallurgical testwork results, and
preliminary assessments.

Argent’s strategy is to identify potential satellite feedstock mining operations within trucking distance at Kempfield, to support a central mining and processing operation.

The Pine Ridge gold mine could support this.

Argent recently delivered a major breakthrough at Kempfield, following exploration results for the 2016 diamond drilling program.

This includes VHMS host horizons being identified at the Kempfield deposit, leading to efficient drill targeting of high grade precious and base metals.

Australian Strategic Materials signs US$600 million LoI

Rowena Smith, CEO and managing director of Australian Strategic Materials Ltd (ASX:ASM, OTC:ASMMF), joins Jonathan Jackson in the Proactive studio to discuss the company’ s Dubbo Project, in Central West New South Wales. This project aims to extract and process critical minerals and rare earth...

8 hours, 51 minutes ago