Argent Minerals Limited (asx:ard) Mag Survey Reveals Large Copper-gold Target At West Wyalong

Argent Minerals Limited (ASX:ARD) ("Argent", "Argent Minerals" or the "Company") is pleased to announce the results of an airborne magnetic survey conducted at the West Wyalong Project in NSW, Australia, a farmin joint venture between Argent Minerals and Golden Cross Resources in which Argent Minerals has the right to earn a 51% interest, then 70%, through exploration expenditure.

The West Wyalong Project is situated in the Macquarie Arc of the Lachlan Orogen, in a geological setting of Ordovician volcanics which hosts worldclass porphyry copper-gold mines such as Newcrest's Cadia, China Molybdenum's Northparkes, and 37 kilometres to the north of West Wyalong - Barrick Gold's Lake Cowal mine.

The purpose of the West Wyalong survey was to obtain enhanced magnetic geophysics data over an area of interest which Argent had recently identified as being potentially prospective for a porphyry copper-gold deposit. In 2013 the Company had identified the potential deposit by reprocessing historical geophysics data that had been obtained from low resolution government magnetic and radiometric surveys.

The high resolution magnetic data from this recent survey has enabled Argent to significantly advance interpretation of the subsurface geology and the definition of areas where the magnetic minerals in the host rock may have been altered by mineralisation processes. The survey has successfully identified an area of low magnetic rocks within a belt of predominantly magnetic high response, indicating thermal destruction of magnetism typically associated with volcanic intrusion processes. The much higher resolution of the new data at 50 metre line spacing has enabled 3D modeling of the anomaly, and correlation with induced polarisation (IP) data reprocessed from a historical Mount Isa Mines Distributed Acquisition System (MIMDAS) survey.

The co-location of the magnetic anomaly with an IP chargeability high anomaly, and the strong copper-gold geochemistry intercepted above it by shallow air core drilling, together confirm a sizeable potential porphyry copper-gold target. The interpreted dimensions of the magnetic anomaly are significant, being approximately 1.4 kilometres in the north-south direction, 800 metres from east to west, and extending to depth from 200 metres.

Managing Director David Busch said, "This is a very exciting development for the West Wyalong Project, placing it on the map as a sizeable Australian porphyry copper-gold target, in which...