Argent Minerals (ASX:ARD) has started a induced polarisation (IP) survey to enable design of a drill program to test a porphyry copper gold target at its 51%-owned West Wyalong Project in New South Wales.
The project is located just 37 kilometres south of Lake Cowal Mine, which is being acquired by Evolution Mining (ASX:EVN) for US$550 million.
Lake Cowal has annual production of between 230,000 and 260,000 ounces of gold at a pro-forma all-in-sustaining cost of A$850 to A$900 per ounce.
The IP survey will complement the high resolution magnetic survey performed in 2014.
Argent is also preparing for the deep diamond drill test program at the Kempfield Polymetallic Project.
News: Argent Minerals starts survey near at porphyry copper in New South Wales
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