Sydney, Australia -
Argent Minerals Ltd. (ASX:ARD) (Argent, or the Company) is pleased to report its activities and cash flow for the quarter ended 30 September 2018.
Argent achieved a further series of significant developments during the quarter that enhance the economics of the Kempfield Project and will continue its growth as a significant large-scale silver-zinc-lead-gold project in an established NSW mining district.
Highlights:
- Major event for Pine Ridge Gold Mine acquisition.
- Low cost acquisition of mine and surrounding area is proximal to the Kempfield Ag-Zn Project, and potentially very favourable for Kempfield project economics.
- Extensive exploration prospectivity identified around the established gold mine - large gold system.
- Pine Ridge analogous to a 2 million ounce ore reserves deposit 50 km to the north.
- Historical high grades (e.g. 1 m @ 62.9 g/t Au from 59 m in PR010) show strong gold mineralisation.
- Highly prospective gold targets ready for drill testing.
- Rights issue announced: raising up to $1.7 million before costs for a strong cash position ahead of major drilling programmes.
- Drilling programmes of 5,000 metres announced - targeting potential higher-value Cu-Au footwall and feeder zones and further Ag-Zn-Pb-Au strike extensions at Kempfield, and high grade gold targets at the Pine Ridge Gold Mine.
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About Argent Minerals Limited:
Argent Minerals Ltd. (ASX:ARD) is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.
Source:
Argent Minerals Ltd.
Contact:
David Busch Chief Executive Officer Argent Minerals Ltd. M: +61-415-613-800 E: david.busch@argentminerals.com.au
