Argent Minerals delineates silver, lead, zinc at Sugarloaf Hill zone
Zone is outside the defined resource at the Kempfield project in NSW
Company plans to drill newly-defined mineralised zones in 2024
Special Report: Argent Minerals has delineated extensive silver, lead and zinc mineralisation over the Sugarloaf Hill zone, east of its Kempfield deposit at the Kempfield project in NSW.
The company says its third rock chip reconnaissance program has returned high-grade surface rock chips within baritic rich lithologies, highlighting previously unknown drill targets.
Argent Minerals (ASX:ARD) has now reported silver assays up to 99g/t Ag, 0.23% Pb and 1% Zn received, including highlights of:
99g/t Ag & 0.20% Pb (sample 3000768)
86g/t Ag (sample 3000782)
13.50g/t Ag & 1% Zn (sample 3000779)
16.05g/t Ag (sample 3000650)
13.65g/t Ag (sample 3000651); and,
13.05g/t Ag (sample 3000769)
Kempfield project location map highlighting Sugarloaf Hill discovery zone. Pic via ARD
Represents resource upside
The company believes these results provide further confirmation of outcropping silver-copper-lead-zinc mineralisation outside the defined resource at Kempfield.
“These latest surface assay results have identified new zones mineralisation within the Sugarloaf Hill mineralised zone,” managing director Pedro Kastellorizos said.
“These exciting new zones host the same geology and geochemical signatures as the main mineralisation over the Kempfield deposit.
“Based on the defined mineralised dimensions, the strike of the mineralised zones surpasses the existing Kempfield JORC resource area, elevating Kempfield’s exploration upside.”
Silver-base metal mineralisation within ferruginous baritic sandstone yielding 99 g/t silver, 0.22% copper-lead-zinc and 0.66% barium from sample 3000768
Looking forward
The Ag-Pb-Zn mineralised trend at Sugarloaf Hill remains completely untested by drilling.
The company is currently awaiting drill approvals from the NSW Regulator to commence the maiden drill program over this highly prospective mineralised extension.
“We plan to drill these newly defined mineralised zones in 2024 once all regulatory approvals have been granted to Argent,” Kastellorizos said.
The exploration success comes off the back of a stellar run in silver prices, driven higher by safe haven demand from investors as an alternative to gold and surging industrial demand from record solar PV production.
With supply shortages on the horizon, silver prices are up 21% YTD, lifting earlier in 2024 to 11-year highs.
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.
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