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Argent Minerals Ltd.
Summary
| Project: | Kempfield | |
|---|---|---|
| Deposit: | Kempfield | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 5/30/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-5-2018: Argent Minerals Ltd. announces a Resource Estimation report for its Kempfield deposit at the Kempfield project. Updated mineral resource estimate at Kempfield. Argent Minerals Limited (ASX: ARD, Argent, or the Company) is pleased to report an u | |
| Resources: | (Resource, Total): 26.0Mt @ 40g/t Ag, 0.12g/t Au, 0.46% Pb, 1.0% Zn | |
| CP/QP: | [Resources]: Arnold van der Heyden (H&S Consultants Pty Ltd.) | |
| ABSTRACT: | Argent Minerals Limited (ASX: ARD, Argent, or the Company) is pleased to report an updated mineral resource statement for the Kempfield project, which we believe significantly advances the progress of the project. The resource statement has been updated to incorporate the milestone metallurgical results reported on 12 April 2018 - creating a positive new positive development scenario for Kempfield. The new scenario has been created by the successful separation of the primary feed material into a potentially marketable commercial grade zinc and lead concentrates, which also contain silver and gold. The contained metal equivalence formula has been substantially revised to reflect the significant impact of the metallurgical recoveries announced on 12 April 2018 for the primary material, as well as updated market pricing for zinc, silver, lead and gold. Whilst the underlying mineral resource estimation methodology and individual metal grade estimates remain unchanged, the cut-off grade for reporting of the primary material resource, which is based on the contained metal equivalence formula, has been increased to 80 g/t Ag Eq (from 50 g/t Ag Eq previously). The cut-off grade for the oxide/transitional material, which does not depend on the equivalence formula, remains unchanged at 25 g/t Ag. The application of the updated cut-off grades and the contained metal equivalence formula to the existing underlying resource estimate has resulted in the following contained metal equivalents for the total mineral resource estimate: 100 million ounces silver equivalent contained metal: 26 Mt @ 120 g/t Ag Eq – almost double the ounces and at a significantly higher grade than the previous estimate of 52 million ounces Ag Eq at 74 g/t Ag Eq; OR/ 520,000 tonnes zinc equivalent contained metal: 26 Mt @ 2.0% Zn Eq – reported for the first time for the Kempfield project as required by the JORC 2012 code due to the substantially increased contribution of zinc (approximately 45%) to potential revenues. Detailed breakdowns are provided by the following updated Kempfield Mineral Resource Statement, which is in turn followed by the Relevant Information Summary, and further details on the boost to the project’s economic potential | |
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