Argent Minerals (ASX:ARD) high grade silver lode extends Kempfield system

Argent Minerals has reported a new shallow, high grade silver lode at the Kempfield NW Prospect in central west New South Wales, intersected in reverse circulation drillhole AKRC312, extending mineralisation beyond the current Kempfield Mineral Resource Estimate and confirming continuity along the same stratigraphic and structural corridor as Lode 300.

The intersection, which begins at surface and contains broad zones of silver rich polymetallic mineralisation, provides further evidence of the scale and lateral extent of the Kempfield volcanogenic massive sulphide system and its potential for resource growth outside the existing deposit footprint.

Highlights

• New high grade silver lode discovered at Kempfield NW, outside the current Mineral Resource Estimate area.

• Drillhole AKRC312 returned 61m @ 63.24 g/t Ag Eq from surface, including 31m @ 103.47 g/t Ag Eq and a high grade core of 9m @ 178.33 g/t Ag Eq from 1m.

• Individual samples up to 482 g/t Ag recorded within the oxidised profile.

• Mineralisation hosted in the same interbedded sandstone and siltstone sequence as the main Kempfield deposit and Lode 300, confirming geological continuity of the VMS system.

• The new lode remains open along strike, laterally and at depth, with follow up mapping, drilling and metallurgical testwork underway.

The Kempfield NW intercept was drilled on the western flank of Lode 300 as part of the December 2025 reverse circulation program and targeted shallow extensions of mineralisation previously intersected in AKRC298.

The hole intersected a thick, continuous zone of silver, lead and zinc mineralisation from surface within the same Silurian interbedded sandstone and siltstone units that host the main Kempfield deposit, confirming the northern continuation of the VMS stratigraphic horizon beyond current resource limits.

The reported downhole interval of 61m includes multiple internal higher grade zones, with 31m grading 94.65 g/t Ag, 0.22% Pb and 0.18% Zn from surface, and a 9m interval from 1m depth returning 166.21 g/t Ag, 0.41% Pb and 0.21% Zn, equivalent to 178.33 g/t Ag Eq.

A further 3m interval at 24m returned 178.67 g/t Ag, 0.17% Pb and 0.38% Zn, equating to 192.67 g/t Ag Eq. The lode rises into the oxide profile with strong grade preservation through weathering, consistent with the geometry observed in the established Kempfield lodes.

From a geological perspective, the results reinforce the interpretation of laterally extensive, stratiform barite rich horizons hosting silver, lead, zinc and minor gold within the Lachlan Fold Belt VMS system.

Cross sections show the new intercept defining a higher grade core within a broader mineralised envelope, typical of the Kempfield architecture where higher grade shoots are developed within regionally continuous horizons that remain open along strike and down dip.

Managing Director Pedro Kastellorizos said the discovery materially extends the known footprint of high grade mineralisation, noting that

“these results deliver a significant new high grade silver discovery right from surface, with broad and robust zones that enhance the development potential of Kempfield, and confirm the extension of mineralisation from Lode 300 in the same host stratigraphy”.

The new lode lies along the same mineralised corridor that hosts the current Kempfield Silver Deposit, which as at July 2024 contains 63.7Mt @ 69.75 g/t Ag Eq for 142.8 Moz Ag Eq, comprising silver, gold, lead and zinc, and is classified as Australia’s second largest undeveloped silver deposit.

The identification of additional high grade mineralisation outside the defined resource envelope is therefore strategically relevant in the context of potential future resource upgrades.

Argent has indicated that priority mapping and further drilling are planned to define the extent of the Kempfield NW lode, while recent diamond drill samples from AKDD208 and AKDD209 are undergoing bottle roll, carbon in leach and flotation testwork to support metallurgical characterisation across oxide, transitional and primary domains.

In a broader industry context, the results underscore the capacity for large, well understood VMS systems in mature provinces such as the Lachlan Fold Belt to continue delivering new zones of high grade mineralisation with shallow access and clear geological continuity.

For Kempfield, the confirmation of additional lodes along strike from the existing resource supports the view that the system remains open and only partially delineated, with ongoing drilling and testwork aimed at progressively defining the full scale of this silver rich polymetallic province.

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