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Argent Minerals New MD To Drive Next Phase Of Growth

Argent Minerals (ASX: ARD) has appointed David Busch to the role of managing director.

Busch, who will take up the position on 10 April, is a qualified engineer with more than 25 years experience in strategic leadership roles.

He has previously been engaged in business and project management on behalf of Australian majors BHP Billiton (ASX: BHP) and Macquarie Bank (ASX: MBL), and international process control and automation leader Honeywell.

Busch has broad senior management experience from operational to board levels, including as founder and managing director of Australian minerals exploration companies, and as chairman of a publicly listed equipment finance company in Indonesia.

He most recently led the development of Goodrich Resources (ASX: GRX) and its listing on the ASX.

Executive chairman Kerry McHugh, who will step back from his executive position to become non-executive chairman, said Busch's appointment complements the board and positions the company for this important phase in its growth.

Success from a 2011 drilling program at the company's wholly owned Kempfield silver, lead and zinc project in New South Wales is likely to extend the proposed McCarron pit 200 metres to the north.

It could also potentially enable the western edge of the proposed BJ pit to join up with the north eastern boundary of the proposed McCarron pit.

The Kempfield project is located 7 kilometres west of Trunkey Creek and 30 kilometres South of Blayney in New South Wales.

The current Resource is 20.6 million tonnes for 31.6 million silver ounces, 65,000 gold ounces, 265,000 tonnes of lead and zinc and 2.5 million tonnes of barite.

A major plus for the resource is 69% is hosted in the higher confidence Measured and Indicated categories, which has good potential to increase in the future resource update.

Argent is targeting silver production of 2 million ounces annually by 2013.