Source: Argent Minerals
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Argent Minerals (ARD) releases a maiden JORC 2012 inferred mineral resource for the Pine Ridge Deposit in New South Wales
  • The mineral resource reads 419,887 tonnes at 1.65g/t gold containing 22,122 ounces of gold and was independently estimated by Odessa Resources
  • It was produced based on historical drill results which included drilling completed in 1993 by Gold Rim Exploration and from 2019 to 2021 by Argent
  • Follow-up extensional resource drilling has been planned to the north of the main gold mineralisation zone with the aim to increase the current resource tonnage and grade
  • Shares in Argent were down 12.5 per cent on market close and trading at 2.8 cents each

Argent Minerals (ARD) has released a maiden JORC 2012 inferred mineral resource for the Pine Ridge Deposit in New South Wales.

The mineral resource reads 419,887 tonnes at 1.65g/t gold containing 22,122 ounces of gold and was independently estimated by Odessa Resources.

It was produced based on historical drill results which included drilling completed in 1993 by Gold Rim Exploration and from 2019 to 2021 by Argent.

Results came from six NQ diameter diamond holes, 48 reverse circulation holes and 5227 assays.

“We are pleased to have completed Argents’ first maiden JORC Resource over the Pine Ridge Gold Prospect. We are confident of increasing the current Pine Ridge resource during this year,” CEO Pedro Kastellorizos said.

“Furthermore, our technical team believe the deposit has substantial potential for more resource growth along the northern portion proximal to the old historical mine area as this highly prospective zone remains completely untested by drilling.”

Follow-up extensional resource drilling has been planned to the north of the main gold mineralisation zone with the aim to increase the current resource tonnage and grade.

Shares in Argent were down 12.5 per cent on market close and trading at 2.8 cents each.

ARD by the numbers
More From The Market Herald
Countplus (ASX:CUP) - Incoming CEO, Hugh Humphrey

" Hugh Humphrey appointed CEO of Countplus (ASX:CUP)

Investment services company CountPlus (ASX:CUP) has appointed Hugh Humphrey as the company's CEO, effective July 1.

" ASX employee tests positive for Covid-19

The ASX says an employee has contracted Covid-19.

" ASIC launches official investigation into ASX market outage

The ASX has confirmed today it is officially under investigation from the Australian Securities and Investments…

" ASX sheds more light on last week’s market tech failure

The Australian Securities Exchange has shed some more light on the nature of last week's market…