ARGENT MINERALS LIMITED - ASX: ARD

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Description

The Company's mission is to increase shareholder wealth through capital growth and dividends, by the discovery of economic mineral deposits and the development of profitable mining operations. The Company's initial objective is to explore and further evaluate the Tenements subject to the Farmin and Joint Venture Agreements.

The Company may also evaluate and pursue other prospective mineral projects in Australia or elsewhere which have the potential to contribute to the Company's future growth.

Since its incorporation, the Company has entered into the Farmin and Joint Venture Agreements with Golden Cross Operations which relate to the Argent Minerals Properties. The Kempfield Tenements, Sunny Corner Tenements and West Wyalong Tenements, collectively known as the Argent Minerals Properties, are located in New South Wales within the well mineralized Lachlan Fold Belt which is host to a number of major mineral deposits including Cadia–Ridgeway, North Parkes and Cowal.

Sunny Corner Project

The Sunny Corner Tenements cover an area of approximately 200.1 square kilometres around the village of Sunny Corner located about 6 kilometres north of the Great Western Highway , between Lithgow and Bathurst in New South Wales.

EL 5964 contains the historic Sunny Corner Mine, which was mined for silver in the years 1881 to 1893, as well as other prospects including the historic Nevada Mine which was mined for silver, lead and copper.

1.5 million tonnes @ 2.1% lead, 3.7% zinc, 0.4% copper, 0.3 g/t gold and 24 g/t silver containing:

• 32,200 tonnes of lead;
• 55,800 tonnes of zinc;
• 5,700 tonnes of copper;
• 12,640 ounces of gold; and
• 1.2 million ounces of silver.

Kempfield Project

The Kempfield Tenements are located approximately 29 kilometres south of the New South Wales town of Blayney , in the central-west of New South Wales. The silver, lead, zinc and barite resources at Kempfield contain 13 million ounces of silver They comprise a potentially heap leachable resource containing, at a 60 g/t silver only cut off, 8.7 million ounces within 70 metres of the surface and a sulphide resource containing ,at a 100g/t silver equivalent cut off, 4.4 million ounces between 70 and up to 190 metres from the surface. A sulphide resource (at a 100g/t Ag Equivalent cut off grade) of 1.9mt at 72 g/t silver, 1.0% lead, 2% zinc and 23% barite lies below the heap leachable resource ie; between 70 and 190 metres from surface.

West Wyalong Project

The West Wyalong Tenements are located one kilometre to the east of the West Wyalong township and approximately 470 kilometres west of Sydney . EL 5915 contains part of the historic West Wyalong goldfield.

The rocks underlying EL 5915 form part of the Palaeozoic Lachlan Geosyncline which is divided into a number of structural zones. EL 5915 is situated over the boundary of two of these, the Wagga-Omeo Zone to the west and the Parkes zone to the east. This boundary is defined by a major sub-structure, the Gilmore Suture, a mobile crustal zone of prolonged and intense deformation coupled with igneous activity. A number of significant mineral deposits and many small deposits are distributed along this structure.

Mine For

silver, lead, copper, zinc, barite

Location of operation(s)

New South Wales

Address

Level 1 115 Cambride Street
WEST LEEDERVILLE, WA, AUSTRALIA

Phone

618 9322 6600

Email

Website

http://www.argentminerals.com.au

Last Updated

06/05/2010