Argent Minerals has updated its flagship NSW Kempfield project resource estimate to 127.5 million ounces of gold and silver.
A growing number of newly identified zones at the Kempfield deposit near Blayney in central west NSW provide the project with significant potential to become a major producer of base and precious metals.
The upgraded estimates from previous exploration in 2018 revealed a 28 per cent increase to the resource.
“This exceptional resource estimate is another major milestone for Argent Minerals as it confirms the Kempfield Project as one of the largest silver deposits in NSW,” Argent managing director Pedro Kastellorizos said.
“Achieving a mineral resource estimate of this size and the value of the metal content within the resource area is significant as we believe the discovery of further mineralisation within the project area will increase the overall value of the future operations.”
The exploration is underway through an assessment lease granted by the NSW government allowing Argent to determine the size and potential of the ore body.
The ABC has reported trepidation amongst locals in the area who are uncertain about the environmental implications of the prospective development.
However, a spokesperson for Mining, Exploration and Geoscience, within the Department of Regional NSW confirmed any development of the project would undergo appropriate environmental impact assessments.
Argent Minerals have also recently confirmed the exploration potential of its Copperhead project in the Gascoyne region of WA.
Recent rock chip assay results have highlighted the potential of at least three different styles of deposits throughout the area with promising early results.
“We are delighted to have independent confirmation of several styles of mineralisation which might be hosted within our Copperhead project,” Kastellorizos said.