4 June 2008
ASX / MEDIA ANNOUNCEMENT
POSITIVE VTEM SURVEY RESULTS
Argent Minerals Limited is pleased to advise that it
has now received preliminary results from the helicopter-borne VTEM surveys
carried out over Sunny Corner and Kempfield during May 2008.
The identified anomalies are shown below in Figure1
for Sunny Corner and Figure 2 for Kempfield which were produced for Argent
Minerals by Southern Geoscience Consultants Pty Ltd.
At Sunny Corner the VTEM survey has identified a total
of 14 anomalies or groups of anomalies ranging from ?strong? through to
?weak-moderate?. The strong anomalies appear to be in the area of the known
massive sulphide Cu-Pb-Zn-Ag-Au mineralization adjacent to the old Sunny Corner
mine where drilling in 2004 produced high grade intersections including hole
GSC36 for 10m @ 1.7% Cu, 10.8% Pb, 18.6% Zn, 1 g/t Au, 177 g/t Ag and hole
GSC42 for 5m @ 0.8% Cu, 6.0% Pb, 6.6% Zn, 1.85 g/t Au 245 g/t Ag.
There is a cluster of moderate to weak-moderate
anomalies, away from known mineralization, within a kilometer radius of the
Sunny Corner mine including a moderate anomaly some 300 meters to the south
west which could indicate downdip extension of mineralisation. In addition, there are
three clusters of moderate to weak-moderate anomalies in the north east and
northwest of the tenement. The former lie in an area where previous stream
sediment sampling has identified elevated copper values. The latter lie in an
area where several old gold mines are known to exist.
At
Kempfield a cluster of weak to moderate anomalies occurs in the centre of the
survey area. In addition, there is a moderate anomaly in the south of the
tenement, away from known mineralization, which is worthy of being followed-up.
An initial program of RC drilling has recently been completed at Kempfield and
results are expected within four to six weeks.
Each
identified anomaly at both Sunny Corner and Kempfield will be investigated on
the ground to eliminate any cultural factors that might have caused the
anomaly. The remaining anomalies will then be modelled with the aim of
determining their depth and orientation of the conductive sources which will
then assist the drill targeting phase.
Argent?s
Executive Chairman, Mr Kerry McHugh said ?The results of the survey are
encouraging. At Sunny Corner the presence of anomalies in the vicinity of the
high grade mineralization identified by Golden Cross Resources Limited 2004
drilling is particularly worthy of follow-up work and that will be undertaken
over the next one to two months. Follow up work to identify potential drill
targets at the other anomalies shown at Kempfield and Sunny Corner will also be
undertaken. ?
Figure 1 ? Sunny Corner
Figure 2 ? Kemfield
For more information:
www.argentminerals.com.au
Kerry McHugh
Executive Chairman
Argent Minerals Limited
P: 0404 465 154
Caroline Thomson
Purple Communications
P: 08 9485 1254
M: 0410 479 489
E: cthomson@purplecom.com.au
Competent Person Statement
The information in this Report that
relates to Exploration is based on information complied by David Timms, who is
a member of the Australian Institute of Geoscientists, is a Technical
Consultant to Argent, and has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the activity he
is undertaking to qualify as a Competent Person as defined in the 2004 Edition
of the ?Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves?. David consents to the
inclusion in the report of the matters based on his information in the form and
context in which it appears.
***
Issued by
Purple Communications
Level 3, 28 Kings Park Road, WEST
PERTH
WA 6005
Ph: 08 9485
1254 Fax: 08 6263 0455
purple@purplecom.com.au