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Argent Minerals Limited (ASX:ARD) September 2016 Quarter Activities And Cash Flow Report
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 Argent Minerals Limited (ASX:ARD) (Argent or the Company) is pleased to report on its performance for the quarter ended 30 September 2016.
Highlights:
- Kempfield drilling results:
-- Major breakthrough - Kempfield VHMS host horizons and lithology defined;
-- Significant potential mineralised extensions identified;
-- High grade gold trend geometry identified - related to the Trunkey-Kings Plain gold system;
-- High grade VHMS precious and base metal discovery enhanced by the findings of the drill program;
-- Massive sulphide intersections in proximity to known intrusive confirm Kempfield North as a high-ranking target area;
-- Proven continuity of mineralisation along strike and at depth;
-- Significant potential for hosted mineralised lenses identified in the untested southern area; and
-- Potential high temperature zone and primary/secondary feeder sources identified.
-Pine Ridge gold mine and Trunkey-Kings Plain goldfields
-- Review and assessment of historic exploration results commenced.
- Heavily oversubscribed private placement raised $1.75 million to expedite drilling.
- Drill programs advancing
-- Update for Kempfield and West Wyalong.
The main focus of the quarter was the completion of data gathering from the diamond drill core produced by the Kempfield drilling program, and the subsequent analysis.
A private placement was also conducted in preparation for the next round of drilling programs and advancing exploration. The strong support of existing and new investors resulted in a heavily oversubscribed outcome, raising $1.75 million before costs, which is being applied by the Company to advance exploration at the historic Pine Ridge gold mine and Trunkey-Kings Plain goldfields, and the Kempfield and West Wyalong drilling programs.
The 30 September 2016 quarter activities are summarised as follows.
KEMPFIELD DRILLING RESULTS
Summary
The strategically designed 11 hole diamond drilling program produced 3,167 metres of drill core containing vast amounts of information about Kempfield that is significant to understanding the deposit for further exploration success.
Detailed physical analyses were first performed on the drill core to record host rock types, thicknesses and angles, and where visible, mineralisation. The physical drill core information was then assessed together with assays as they became available following standard QA/QC. Whole rock assays were performed on more than 50% of the drill core[1] to yield a further significant level of detail - a 36 element suite for each metre of core sampled.
In addition to the obvious pursuit of silver, gold, zinc, lead and copper mineral grades, authentic volcanic-hosted massive sulphide (VHMS) exploration that employs the latest techniques requires the remaining 31 elements to be assessed in detail to discover and quantify their associations with the target minerals and the inter-relationships that are unique for the deposit being explored.
To assess and interpret the complexities of this detailed information in the context of hundreds of millions of years of multiple geological processes, and ultimately be able to reconstruct the intricacies of the current form of the deposit for highly efficient drill targeting, requires specialised VHMS knowledge and experience.
These processes were performed on the recent drill core, and will continue, with the results to date representing a significant milestone in the exploration of the Kempfield VHMS system.
The significant advances have taken the understanding of the Kempfield deposit to a new, far more detailed, higher level than that afforded by the minimal information made available by historical RC drilling.
The key results of the program reported in the 10 October 2016 announcement are summarised as follows:
- Major breakthrough - detailed litho-stratigraphy defined, and four key host VHMS horizons identified, which will lead to highly efficient drill targeting of precious and base metals at Kempfield;
- Significant potential mineralised extensions identified, following the analyses that revealed the strike-slip movements caused by transverse faulting;
- High grade gold trend geometry identified and confirmed as a later stage orogenic overprint related to the Trunkey-Kings Plain gold system - and the potential for structural upgrades and Trunkey-Kings Plain type high grade gold in the main Kempfield deposit area;
- Massive sulphide intersections in proximity to known intrusive confirm Kempfield North as a high-ranking target area
- Proven continuity of mineralisation along strike and at depth in Kempfield North;
- Significant potential for hosted mineralised lenses identified in the untested southern area historically assumed to be closed; and
- Potential high temperature zone and primary/secondary feeder sources identified.
Selected highlights of the 10 October 2016 announcement can be viewed in the link below.
[1] Split core sampling (see 'Sampling Techniques and Data' in Appendix C - JORC 2012 Table 1 of the 10 October 2016 announcement)
To view tables and figures, please visit:
http://abnnewswire.net/lnk/WUKW7P68
Argent Minerals Limited
David Busch, Managing Director
T: +61-2-9262-2211
E: admin@argentminerals.com.au
WWW: www.argentminerals.com.au
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