Argent
Minerals (ASX: ARD) records promising debut
Argent Minerals Limited (ASX: ARD) has closed 10% higher
following its first day of trading. The silver-focused explorer listed at 0.20c
and rose to 0.22c by market close.
According to Argent’s Executive Chairman Kerry McHugh,
the Company is pleased with this result.
“It can be difficult to have a successful listing in
the current market, and we believe this good result is a testament to the
advanced state of our exploration tenements, which contain JORC resources, and
the rekindled investor interest in silver,” Mr McHugh said.
www.argentminerals.com.au
For more information:
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
About Argent Minerals Limited:
Argent Minerals Limited is a silver-focused explorer with
projects based in the Lachlan Fold Belt in NSW.
Argent plans to immediately start an advanced exploration
program as part of its Farm-in and Joint Venture agreements with Golden Cross
Operations, at its Kempfield, Sunny Corner and West
Wyalong tenements.
The exploration program will include advancing
Argent’s Kempfield silver/lead/zinc/barite project that has JORC defined
resources of over 11 million ounces of silver (3.7 million tonnes at 93g/t) of
which 74% are measured or indicated.
Sunny Corner was the site of the first major silver mine in Australia,
producing around three million ounces of silver at a grade in excess of
13ozs/tonne. Drilling by Golden Cross Resources Limited in 2004 produced
intersections including 28m at 1.32%Cu, 6.45% Pb, 12.86% Zn, 0.54g/t Au and
109g/t Ag. Argent will undertake a VTEM survey in the coming months to identify
extensions to the old mines in the area and any deeper undiscovered deposits
that may exist.
West Wyalong was mined
in the 1890s for high grade gold, with reefs typically running more than
2ozs/tonne. Recent drilling by Argent intersected 2m at 19.1
g/t gold from 106m in a previously undrilled part of the tenement, and 4m at 6.11g/t at Mallee Vale, adjacent
to an old shaft. The Company will undertake follow-up drilling on these targets.
Argent’s major shareholder is RAB Special Situations
(Master) Fund Limited which has a 17% interest in the Company.
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