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Argent Minerals Ltd.
Summary
| Project: | Loch Lilly | |
|---|---|---|
| Deposit: | Netley | |
| Location: | Australia | |
| Commodities: | Gold-Copper-Molybdenum | |
| Date: | 11/2/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-11-2017: Argent Minerals Ltd. announces an Exploration/Drilling Update report for its Netley deposit at the Loch Lilly project. Drilling results incl. 73.3m @ 0.03% Cu from 355.7m. Argent Minerals Limited (ASX: ARD, Argent, or the Company) is pleased to | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Clifton McGilvray (Internal) | |
| ABSTRACT: | Argent Minerals Limited (ASX: ARD, Argent, or the Company) is pleased to report the results of the Loch Lilly project maiden drilling programme. Netley is one of four target areas defined in the Loch Lilly - Kars Belt JV area by the collaborative effort between Anglo American Exploration (Australia) Pty Ltd (AngloAmerican) and Dr. Anthony Crawford during 2014/15 before AngloAmerican exited the project as part of a global restructuring initiative. Argent designed the diamond hole ALN001 designed to test the coincident geophysical anomalies illustrated in Figure 1 and 2. The Netley target was defined through 3D modelling performed by AngloAmerican on a dataset comprising a 400 station ground gravity survey, a magnetic survey, and historical drill core. Inversion modelling was conducted on available geophysical data to improve the resolution and depth expression of the magnetic response. Diamond hole ALN001 was drilled to 483.6 metres, intersecting a series of porphyritic intrusives (monzonites and diorites), strong propylitic to skarnoid alteration with lesser zones of potassic alteration (for further explanation refer to Figure 9 in Appendix 2), abundant pyrite and sparse, localised chalcopyrite (copper). More than 50% of the ALN001 drillcore was submitted for assay based on visual observations. The target magnetic and gravity anomalies illustrated in Figures 1 and 2 cannot be fully explained by the intersected geology and magnetic susceptibility readings observed in the drill hole. The anomalous copper, together with elevated zinc to 282 ppm and molybdenum to 297 ppm could suggest that the hole intersected an outer halo of a mineralised porphyry copper system. Further investigation is warranted in order to determine the source of the gravity and magnetic anomalies and the source of the increased base metal concentrations. | |
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