(MENAFN- ABN Newswire) Sydney, Jan 31, 2018 AEST (ABN Newswire) - Argent Minerals Limited () (Argent, or the Company) is pleased to report its activities and cash flow for the quarter ended 31 December 2017.
Highlights:
- Substantial JORC compliant Exploration Target added to the existing Kempfield resource.
- Potential extent of mineralisation identified to multiples of current resource dimensions:
o Strike length - increased 2.5 times to 3.0 km, with further potential to 7 km;
o Width - increased 1.8 times to 650 m;
o Depth - increased 2.0 times to 400 m.
- Excellent Kempfield metallurgical test results - metal recoveries significantly exceed historical assumptions.
- Acquisitions in world-class Mount Read Volcanics belt Tasmania.
- $2.5 M cash, following receipt of R&D claim funds and completion of oversubscribed placement to sophisticated investors.
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About Argent Minerals Limited
() is an Australian publicly listed company with a 100% interest in a silver/gold project at Kempfield NSW. Work is underway on the preparation of an EIS and a feasibility study for the first stage of the project which will involve heap leaching some 8.8 million tonnes of mainly oxide and transitional material to produce over 9.5 million ounces of silver and 15,000 ounces of gold over a 5 year mine life. Argent is also earning up to a 70% interest in two other NSW projects - gold at West Wyalong and base metals at Sunny Corner.
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