Kempfield hosts a Resource of 21.8 million tonnes at 47 grams per tonne (g/t) silver and 0.12g/t gold for 47 million ounces of silver and 86,000 ounces of gold contained. The resource extends from surface to between 150 and 200 metres depth, depending on the deposit.
The upgrade is based on results from an extensive drilling program carried out in 2011, comprising 82 reverse circulation holes and ten diamond holes for a total of 11,655 metres.
Drilling included infill holes, three twinned diamond holes to compare the assay results for three reverse circulation holes, five geo tech holes, two metallurgical holes and holes designed to extend the known boundaries of the resources in the three main ore zones being the BJ, McCarron and Quarries zones.
Recent highlights from the drilling program include:
- 61 metres at 123.4 grams per tonne (g/t) silver equivalent, including 3 metres at 430.1g/t silver equivalent;
- 65 metres at 201.5g/t silver equivalent, including 7 metres at 835.7g/t silver equivalent;
- 110 metres at 65.4 g/t silver equivalent.
A Feasibility Study is underway at Kempfield and will take into account the upgraded resource. Argent is targeting silver production of two million ounces annually by 2013.
Managing director David Busch said the results of the drilling program confirmed the company's confidence in the quality of the Kempfield Resource.
"Analysis of the additional 12,500 metres of drilling, including quality assurance and quality control, has resulted in an increase in the Measured and Indicated categories to 82% of the total Resourcem a significant improvement on the previously reported 71%," Busch said.
"This is a vital input to the Feasibility Study and increases our confidence level in the resource on which the study is based."
Kempfield project at a glance
The Kempfield project is hosted within the well mineralised Lachlan Fold Belt, 7 kilometres west of Trunkey Creek and 30 kilometres South of Blayney in New South Wales.
In September 2011, Argent moved to 100% ownership of the project, finalising the acquisition of the final 30% interest from Golden Cross Resources (ASX: GCR).
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