Kempfield RC Drilling Program
Kempfield Stage 1 RC drilling program was affected by rain allowing only 5 days of drilling in the past
6 weeks.
To date 1,725 meters have been drilled over the current 3,500-metre drilling program and favourable
weather conditions are forecast in September and October that will assist our safety management plan
and improved ground conditions.
The Company is expected to receive assay results for the first 400 samples in the next two or three
weeks and a further 1,300 sample results in late October. Interstate transport and laboratory availability
to process samples has been affected by COVID–19 related delays.
The Company will report assay results with faster turnaround from October onwards and the laboratory
in Orange has commenced sample preparation on the second batch of samples.
Managing Director and CEO George Karageorge said:
“Whilst the program has been frustrated by rain since early June, it is expected that good
progress will be made in late October with a larger drill rig arriving at Kempfield that will allow
us to drill deeper holes. 3 to 5 existing drill holes were drilled short due to the use of a smaller
rig and the larger rig will allow us to define deeper mineralization”
“We will also improve our assay results turnaround time by using a local assay laboratory who
have assured pre-COVID-19 availability”
24 September 2020
Highlights
◼ Drilling recommenced at Kempfield
◼ Rock chip and drill hole sampling results
◼ Kempfield resource upgrade
◼ Signed West Wyalong landowner agreement
◼ Pine Ridge Gold Mine RC drilling program to commence mid-October
◼ Geophysical interpretation reports
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Argent Minerals Limited ABN 89 124 780 276 www.argentminerals.com.au
ASX/MEDIA RELEASE
Outstanding results from Kempfield rock chip sampling program
The Company has been conducting surface rock chip sampling outside the Kempfield resource area
since March 2020.
Rock chip sampling continued in July and September and to date over 32 samples have been taken
containing gold, silver, copper, lead, zinc and barite assay results.
The rock chip program will define anomalous extensions to the Kempfield resource with
reconnaissance and target drilling programs (see Figure 2).
The rock chip sampling programs have targeted the gold-copper footwall areas, barite test pits, historic
barite production quarries and old gold, silver and copper prospects to the south and north of the
existing Kempfield resource area. The rock chip sampling will continue until December running
alongside the drilling programs at Kempfield and Pine Ridge.
The surface and historic sample locations that have been sampled to date with available assay results
have been listed below (see also Map 1).
Kempfield Copper Shaft gossan located centrally within the Kempfield resource Au, Ag, Cu, Pb, Zn
lode containing:
• 85.1g/t Ag, 62.8% BaO
Colossal Reef approximately 1.1 km to the west of Kempfield with the highest assay results containing:
• 4.96% Cu, 0.96g/t Au, 40.2 g/t Ag and 1.56% Pb.
and 300 meters further west containing:
• 0.81g/t Au, 79.6g/t Ag, 0.31% Cu, 0.61% Pb
Mastodon quartz reef outcrops 2.8km to north-north west outside of the Kempfield resource area
with the highest assay results containing:
• 2.15g/t Au, 0.1% Pb
Henry Zone North 900 meters north-north east of the Henry Zone lode with the highest assay results
containing:
• 236g/t Ag, 64% BaO, 0.15% Pb
and 450 meters south east:
• 359g/t Ag, 0.93% Pb, 0.68% Zn, 53.8% BaO
Sugar Loaf Hill historic silver -gold and copper prospect 1.4km south east of Kempfield resource area
with the highest assay results containing:
• 0.4g/t Au, 123 g/t Ag, 0.23% Pb, 58.3% BaO
3 | P a g e
Argent Minerals Limited ABN 89 124 780 276 www.argentminerals.com.au
ASX/MEDIA RELEASE
Kempfield Stage 3 RC Drilling Program
The gradual increase and relative stability in commodity prices for gold, silver, zinc and copper prices
since the onset of COVID-19 has led the Company to accelerate the exploration program and bring
forward our Kempfield Stage 3 RC drilling program to early 2021.
By combining historical drilling data, the current RC extension drilling program and mineralised rock
chip sample results, the Company has identified infill areas and has planned for a further Stage 3 RC
drilling program over:
• Henry Zone to Henry Zone North;
• Kempfield South to the Sugarloaf Zone;
• Kempfield West; and
• In fill between Kempfield Zone and Henry Zone
The aim of program is to increase the existing resource model by drilling up to 10,000 - 12,000 meters
of RC drilling and that could advance the project through to formal development studies.
Work was undertaken in 2017 by H&S Consultants in regard to the Kempfield Exploration Target (see Figure 1 - Drilling at Kempfield Henry Zone Extension drilling - 16 September 2020
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Argent Minerals Limited ABN 89 124 780 276 www.argentminerals.com.au
ASX/MEDIA RELEASE Significant Kempfield Exploration Target Revision Large Scale Project Potential, Argent Minerals
Limited ASX Announcement, 6 June 2018). The analysis stated Exploration Target an upper target of
50Mt, in addition to the Kempfield’s JORC 2012 Resource of 26Mt.1
Column 1
Column 2
Column 3
Column 4
Column 5
Column 6
Column 7
Column 8
Column 9
Column 10
Column 11
Column 12
Column 13
Column 14
0
Silver (Ag)
Gold (Au)
Lead (Pb)
Zinc (Zn)
In-situ contained metal equivalents
1
Zn Eq [/COLOR]
AG Eq
2
ResourceTonnes(Mt)
Grade(g/t)
ContainedMetal(Moz)
Grade(g/t)
ContainedMetal (000oz)
Grade(%)
ContainedMetal(000 t)
Grade(%)
ContainedMetal(000 t)
Grade(Zn Eq%)
ContainedZn Eq(000 t)
GradeAg Eq(g/t)
ContainedAg Eq(Moz)
3
Total
26
40
33
0.12
100
0.46
120
1.0
250
2.0
520
120
100
4
Table 1 – Mineral Resource EstimateSource - Significant Kempfield Exploration Target Revision Large Scale Project Potential, Argent Minerals Limited ASX Announcement, 6 June 2018.
Given higher gold and silver prices since November 2017 (see Table 3) the target mining resource
could be significantly increased based on the Recovered Metal Value (RMV) calculation.
ARD Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
(20min delay)