Argent Minerals (ASX: ARD) has continued to generate “significant” gold hits at Pine Ridge with assays pending for 647 samples, while work continues at the Kempfield polymetallic project.
A 21-hole drilling program totalling 2,517m has been underway at Pine Ridge between May and October this year, with two holes remaining to be drilled.
Argent noted this program had generated ‘outstanding’ results in assays received so far with “significant” gold mineralisation unearthed over “extensive intervals”.
Highlight intercepts were 6m at 10.52 grams per tonne gold from 60m, including 2m at 27.94g/t gold from 62m; 6m at 3.67g/t gold from 64m, including 1m at 12.5g/t gold from 68m; and 34m at 2.03g/t gold from 99m.
Argent managing director George Karageorge noted Pine Ridge gold mineralisation remains open at depth and in most directions. He said grade also increases as the company drills west, northwest and at depth.
“Pine Ridge continues to prove itself as an exciting exploration target.”
Exploring Pine Ridge
Once the final two holes of the 21-hole program have been completed assays have been received, Argent plans to release a maiden resource for the project.
Assays are currently pending for 647 samples with results anticipates “well before the end of the year”.
Mr Karageorge said the company would then plan the stage three drilling program for Pine Ridge.
Data from Core Geophysics’ technical reviews of previous geophysical and geochemical surveys is expected over the coming weeks, and this will also feed into planning the next steps at the project.
Mr Karageorge said he anticipates the data will pinpoint more targets north, west and southwest of the current and historical drilling.
“The company eagerly awaits the results of the re-interpretation report findings, which will be announced to the market upon receiving the final report from Core Geophysics.”
Argent wholly-owns Pine Ridge which is about 65km south of Bathurst in New South Wales’ Central Tablelands.
In addition to advancing Pine Ridge, Argent also progressed its Kempfield project in NSW during the September quarter.
During the period, Argent extensively reviewed historic data to identify new walk-up drill targets.
The review outlined poorly-tested lead-zinc-silver anomalies in the southwest and northeast portion of the main copper-gold and lead-zinc-silver mineralisation.
Argent will undertake extensive rock chip sampling and mapping of the anomalies, which will assist with planning the stage four extensional drilling campaign.
The company has also engaged Core to reprocess historic and recent data and develop a resource update.