Junior explorer Argent Minerals (ASX: ARD) has confirmed the start of a 3,500m drilling campaign targeting the highly-prospective copper-gold-molybdenum porphyry at its majority-owned West Wyalong project in central New South Wales.
The initial hole, collared earlier today, is the first exploration undertaken at the project since 2017, when a six-hole program for 2,427m identified the Theia and Narragudgil targets.
Geophysical and geochemical modelling completed in 2019 discovered additional targets at Hyperion and Helios by reviewing all data on hand and implementing a target rationale generated by a 3D inversion model.
Argent said the molybdenum and copper mineralisation in two planned holes of the current program vector west to the vicinity of a strong magnetics high-gravity target similar to the style of Newcrest Mining’s (ASX: NCM) world-class Cadia Ridgeway deposit.
An all-terrain X350 reverse circulation rig owned by Strike Drilling is conducting the campaign, and was secured last month as part of a strategic agreement between Argent and MinRex Resources (ASX: MRR) to identify potential synergies across both businesses.
Drilling at West Wyalong was originally scheduled for February, and will be followed by programs at Pine Ridge gold mine and the Kempfield polymetallic deposit.
Argent managing director and chief executive officer George Karageorge said the company is headed for an exciting phase of its growth.
“[We have been] very excited with the start of drilling at West Wyalong after so many years and our expectations are high,” he said.
“We have had a spate of good news [recently] including approvals for back-to-back drilling campaigns at Pine Ridge and a second phase at Kempfield and we are looking forward to the results.”
West Wyalong is a farm-in joint venture between Argent and Golden Cross Operations Pty Ltd, in which Argent has earned a 78% interest.
The project is located within the same geological setting that hosts world-class porphyry copper-gold discoveries such as Evolution Mining’s (ASX: EVN) Lake Cowal mine, 37km to the north; and China Molybdenum Company’s Northparkes mine.