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Argent doubles contained silver equivalent, posts zinc equivalent at Kempfield

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Argent doubles contained silver equivalent, posts zinc equivalent at Kempfield

An updated resource estimate for Argent Minerals Ltd.'s Kempfield project in New South Wales, Australia, nearly doubled the contained silver equivalent as compared to the previous estimate, with 100 million ounces contained within measured, indicated and inferred resources totaling 26 million tonnes grading 120 g/t of silver equivalent.

The update incorporates recent metallurgical results, which included the successful separation of primary feed material into potentially marketable commercial-grade zinc and lead concentrates that also contain silver and gold.

Argent said May 30 that the increased zinc contribution to potential revenues resulted in the first zinc equivalent resource estimate for Kempfield, with 520,000 tonnes of zinc equivalent contained within 26 million tonnes grading 2.0% zinc equivalent.

The equivalent grades comprise 40 g/t of silver, 0.12 g/t of gold, 0.46% lead and 1.0% zinc, while contained metal consists of 33 million ounces of silver, 100,000 ounces of gold, 120,000 tonnes of lead and 250,000 tonnes of zinc.

The analysis uses cutoff grades of 80 g/t of silver equivalent for primary material, from 50 g/t previously, and 25 g/t of silver for oxide and transitional material.

The company revised the contained metal equivalence formula to reflect the latest metallurgical recoveries for primary material as well as updated market pricing for zinc, silver, lead and gold. Recent flotation testing achieved recoveries of up to 92% for zinc, 53% for lead, 86% for silver and 90% for gold.

Argent also said the update excludes data from drilling completed after the original mid-2012 estimate and an exploration target defined in 2017.

The company is planning further drilling at Kempfield while also working on achieving a sufficiently positive net present value of potential cash flows to take the project to the next level of feasibility work.