Argent Minerals Limited (ASX: ARD) has commenced an Airborne Geophysical Survey over the historic Pine Ridge Gold Mine and EL8213, located 80km south of Orange in New South Wales.
The Pine Ridge area, which lies within 10km of the Argent Kempfield Polymetallic Deposit, consists of a series of historic hard rock gold mines which operated from the 1820’s until the 1940’s and produced grades in excess of 250g/t Au.
Recent diamond drilling conducted by Argent confirmed the position and tenor of gold mineralisation that was reported in historic drill intersections, and produced 19m @ 3.2g/t Au from 98.4m including 1m @ 40.7 g/t Au from 106m in APDD031.
Managing Director George Karageorge said the Pine Ridge tenement, EL8213, has been held by Argent since 2013 and recent developments have reinforced Argent’s commitment to advancing exploration in the area.
Argent’s strategy to develop higher grade gold projects in close proximity to the Kempfield Project will enhance the economics of Kempfield.”
The heli-borne survey will consist of 645 line kilometres across the entire area of EL8213 Pine Ridge at a line spacing of 100m, and will be flown at approximately 30m height. The survey will provide invaluable information into the structure and geological architecture of the area, and will support existing exploration activities in the area.