West Wyalong porphyry copper gold project – 70% Argent
The West Wyalong drillcore processing is ahead of schedule, with the detailed core logging completed, and five of the six holes submitted for assay. The five holes already submitted comprise all of the drill test holes for the Theia target.
The core samples from the remaining sixth hole AWN001, which tested the Narragudgil target, are expected to be submitted early next week.
The laboratory has advised Argent to expect delays because of a significant increase in assay volumes, with assay results being available within a timeframe of up to five weeks from receipt of the samples. In response to the nationally increased workloads, the laboratory has also advised that is it in the process of progressively upgrading its processing capacity to a 7 day per week operation.
In total, more than 80% of the total drill core will have been submitted by Argent for assay. This significant percentage of drill core has been selected on the basis of visual observations during the drillcore logging process.
Following the Company increasing its ownership of the West Wyalong project to 70%, a formal joint venture is now in place under the West Wyalong Farmin and Joint Venture Agreement, whereby the Company’s 30% partner will either contribute their share of exploration expenditure or be diluted.
(20min delay)