- Argent Minerals (ARD) has restarted drilling at Kempfield after rain put a dampener on operations, only allowing for five days of drilling in the past six weeks
- The junior explorer is expecting assay results for the first 400 samples from the polymetallic project in New South Wales in the next few weeks
- Argent has also been carrying out surface rock chip sampling outside of the mineral resource area since March and will continue until December
- In light of the increase in certain commodity prices since the onset of the COVID-19 pandemic, the company is planning to bring forward its phase three reverse circulation program to early 2021
- Meanwhile, the company has finalised a land access agreement for the West Wyalong project and early drilling is scheduled for January next year
- Additionally, Argent intends to commence a phase two reverse circulation drilling program at the Pine Ridge project in October
- Shares have been trading 1.89 per cent lower at 5.2 cents
Argent Minerals (ARD) has restarted drilling at the Kempfield Polymetallic Project after rain put a dampener on operations.
The wet weather prevented drilling at the project in New South Wales for all but five of the past 42 days.
Managing Director and CEO George Karageorge said the company expects good progress will be made with more days of clear skies ahead.
"Whilst the program has been frustrated by rain since early June, it is expected that good progress will be made in late October with a larger drill rig arriving at Kempfield that will allow us to drill deeper holes," the MD stated.
"Three to five existing drill holes were drilled short due to the use of a smaller rig and the larger rig will allow us to define deeper mineralization," he continued.
"We will also improve our assay results turnaround time by using a local assay laboratory who have assured pre-COVID-19 availability," George added.
Argent is expecting assay results for the first 400 samples within two or three weeks and results for a further 1300 samples late next month.
Since March, the junior explorer has been carrying out surface rock chip sampling outside of the mineral resource area which will continue until December.
The company is also planning to bring forward its phase three reverse circulation program for Kempfield to early 2021, citing a stable increase in the price of gold, silver, zinc and copper since the onset of the COVID-19 pandemic.
Meanwhile, the company has signed a Rural Access and Compensation Agreement with the landowner of the West Wyalong Copper Project.
This allows the company to apply to the relevant regulator in New South Wales to approve preliminary work and to plan for drilling to commence in January next year.
Additionally, Argent intends to commence its phase two reverse circulation drilling program at the Pine Ridge Gold Mine in October.
Shares have been trading 1.89 per cent lower at 5.2 cents at 1:25 pm AEST