Argent Minerals, an exploration and development firm, has announced a significant increase in the resource estimate for the Kempfield silver deposit located in New South Wales. This upgrade marks a substantial development for the company, underscoring its growing footprint in the precious metals sector.
According to the latest figures released on Wednesday, Argent Minerals has revised the mineral resource estimate for all categories to 63.7 million tonnes, boasting an average silver equivalent grade of 69.75 grams per tonne. This equates to a total of 142.8 million ounces of silver equivalent, reflecting a notable 12% rise from the previous estimate recorded in 2023.
Within the deposit, notable components include 65.8 million ounces of silver, 125.19 million ounces of gold, along with 207,402 tonnes of lead and 420,373 tonnes of zinc.
The standout increase comes in silver content, which has surged by 54% to 65.8 million ounces, translating to an additional 23 million ounces of silver metal content. Argent Minerals’ Managing Director, Pedro Kastellorizos, hailed this development as transformative, positioning the Kempfield project as the second-largest undeveloped silver deposit in Australia.
Kastellorizos emphasized the confidence of the Argent technical team in the deposit’s potential for further expansion. “We believe there is substantial room for growth along strike, down hole plunge, and depth,” he remarked, outlining the company’s strategy to advance exploration efforts.
Looking ahead, Argent Minerals plans to initiate the next phase of drilling activities in strategic zones including Kempfield NW, Sugarloaf Hill, Henry’s, and Golden Wattle. This initiative aims to enhance both the tonnage and grade of the current resource estimate, reinforcing the project’s stature in the regional mining landscape.
With a 54% increase in silver content now totaling 65.8 million ounces, Argent Minerals continues to assert its prominence in Australia’s mining sector. This latest resource upgrade underscores the company’s commitment to maximizing the potential of the Kempfield deposit, setting a robust foundation for future growth and development.
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