Untested VTEM Targets at Kempfield Pose Both Opportunity and Exploration Risk

New Geophysical Insights at Kempfield

Argent Minerals Limited (ASX – ARD) has released a compelling update on its Kempfield Project in New South Wales, revealing the results of a detailed reinterpretation of historical Versatile Time Domain Electromagnetic (VTEM) survey data. Conducted by Core Geophysics Pty Ltd, this review has delineated three extensive electromagnetic (EM) anomalies along the flanks of the established Kempfield Deposit, two of which remain completely untested to date.

The newly identified Western and Eastern EM Trends stretch approximately 2.2 kilometres each and have not yet been subjected to drilling, presenting fresh frontiers for exploration. Meanwhile, the Central EM Trend, spanning 4.1 kilometres, has seen partial drilling by Argent, confirming shallow mineralisation but leaving the deeper sulphide sources to be explored.

Drilling Confirms Mineralisation and Points to Depth Potential

Recent reverse circulation (RC) drilling within the Kempfield NW Zone has intersected significant silver, copper, lead, and zinc mineralisation near surface. Notably, drillhole AKRC287 returned intervals including 34 metres at 13.60 g/t silver and 0.91% combined copper, lead, and zinc from just 22 metres depth. VTEM plate modelling suggests that the primary mineralised bodies may lie at greater depths, particularly along the western margin where elevated EM responses hint at a deeper footwall position relative to known mineralisation.

These findings underscore the potential for substantial extensions of the mineralised footprint beyond the current boundaries of the Kempfield Deposit, which itself was recently upgraded to a robust 63.7 million tonnes at 69.75 g/t silver equivalent, containing 65.8 million ounces of silver alongside significant gold, lead, and zinc resources.

Strategic Implications and Next Steps

Argent’s Managing Director, Pedro Kastellorizos, highlighted the significance of these results, noting that the identification of multiple new drill targets; including previously unknown zones; could materially enhance the project’s value. The company plans to undertake further RC and diamond drilling in the third and fourth quarters of 2025 to test these promising VTEM anomalies both along strike and at depth.

This renewed focus on Kempfield’s unexplored EM trends aligns with Argent’s broader strategy to leverage advanced geophysical techniques and targeted drilling to unlock additional high-grade mineralisation. The company’s extensive landholding across New South Wales and Western Australia, including other projects like Pine Ridge and Mt Dudley, complements this flagship asset’s growth potential.

Balancing Optimism with Exploration Realities

While the VTEM data and drilling results are encouraging, the true thickness and orientation of the new mineralised zones remain uncertain, necessitating further drilling to confirm continuity and grade. The exploration upside is clear, but the path to resource expansion will require careful technical validation and sustained investment.