Argent Minerals Ltd's (ASX:ARD) shares are trading 6.7% higher at $0.032 in afternoon trade following the company revealing assay results from the recently completed West Wyalong diamond drilling program.
The key to the discovery of porphyry deposits is copper-gold-molybdenum, and the latest two holes show that copper, gold and molybdenum anomalism continues from the initial two holes.
Argent said that visual observations of the alteration and mineral assemblages in the drill core, along with voluminous brecciated magnetite skarn and concentrated vein molybdenite, chalcopyrite and gold, continue to indicate that the drilling program holes are near to either a main mineralised body - or a series of mineralised bodies.
Adding further interest is the massive zones of magnetite skarn. This includes up to 37 metres from 299 metres, which is positioned circa 1.5 kilometres along the total strike length of 2.5 kilometres.
All drillholes have been logged and sampled, with assays for the remaining two drillholes are pending.
Drill core samples have also been submitted for petrography and LA-ICPMS analysis.
Upon finalisation of assays and QAQC processes, 3D modelling will be undertaken to fully understand the geometry of the area and the implications of the assays.
Further to this, hyperspectral logging (SWIR - short wave infrared) of all drill core will be undertaken to fully appreciate the extent and composition of alteration to aid in further drill planning, and petrographic analyses will be undertaken to specifically quantify the intersected rock types, and the implications for ongoing drill targeting.