Argent Minerals Secures Approval for Maiden Drill Test at Trunkey Gold Corridor

Green light for maiden drilling at the 4.7km Trunkey gold corridor

Argent Minerals has received Activity Approvals from the NSW Department of Primary Industries and Regional Development, clearing the way for the first systematic drill test of the historic Trunkey Creek goldfield. The Phase 1 programme comprises 10 holes for approximately 1,000m using diamond and reverse circulation (RC) drilling at the 100%-owned Trunkey Creek Gold Project, located roughly 9km by road from the company’s flagship Kempfield project. Drilling is scheduled to commence early September 2026, with assays expected approximately 6 weeks after the programme starts.

This marks the transition from surface exploration to first drill testing — a genuine catalyst moment for a goldfield that has never been systematically tested with modern drilling below the water table.

Why Trunkey is a compelling drill-ready target

The upcoming drill programme tests a 4.7km gold-mineralised structural corridor progressively defined by Argent through mapping historical workings, surface geochemistry sampling, and structural interpretation. Surface exploration has returned exceptional high-grade gold results, including:

• Rock chip assays up to 1,930g/t Au (selective rock chip from historic mullock dump — may not be representative)
• Most recent result of 73.3g/t Au (also selective rock chip — may not be representative)
• Multiple high-grade results distributed along the corridor, validating the structural targets

Phase 1 focuses on one priority target within this corridor, testing interpreted westerly dipping structures. Orange-based Chief Drilling has been appointed as contractor, with at least one rig secured for the programme.

The high-grade surface assays provide compelling drill targets, but the mandatory caveat applies — these are selective rock chip samples from historic mullock dumps and may not be representative of broader mineralisation. What they do confirm is that high-grade gold is present in the system. Whether it extends at depth and scale is what drilling will now test.

Mike McKevitt, CEO

“Trunkey has steadily developed from a compelling historical gold story into a genuine drill-ready exploration opportunity, and this program is the next important step in determining what sits beneath the exceptional gold we have already identified at surface.”

From 1850s goldfield to modern targets: the untested-at-depth story

Trunkey Creek has produced high-grade gold since the 1850s from quartz reefs worked by historical miners. The critical point for modern exploration is that these workings are shallow and largely untested below the water table — the depth where historical mining technology could no longer operate.

At Wilson’s Reef, the main shaft reached 615 feet (approximately 187m), and historical records compiled by the Geological Survey of NSW note the reef was “payable from the grass to 615 feet” before work stopped. The 1885 Registrar’s record is explicit: mining ceased “when the water took possession, the stone was constantly improving.” Groundwater inflows, not gold exhaustion, ended mining.

What this tells you is that high-grade mineralisation was still improving at the deepest point historical miners reached. Modern drilling can test whether that mineralisation continues at depth — something 19th-century miners could not do. This is the core investment thesis: a maiden drill programme testing structures never systematically drilled, where the historical record suggests mineralisation was strengthening, not weakening, when mining stopped.

The untested-at-depth angle is what separates a historic goldfield from a historic gold story. Results are unproven until assays return, but the structural and historical evidence has created a genuine high-impact discovery opportunity.

Kempfield anchor and the broader NSW footprint

Trunkey sits within Argent’s wider precious and base metals footprint in the Lachlan Fold Belt, approximately 9km by road from the flagship Kempfield silver-polymetallic project. Kempfield hosts a nationally significant undeveloped silver deposit, providing both regional infrastructure relevance and portfolio diversification if Trunkey delivers a meaningful gold discovery.

The Kempfield Mineral Resource (as at July 2024) is set out below:

A meaningful gold discovery at Trunkey would add a new dimension to Argent’s precious and base metals footprint in the Lachlan Fold Belt — home to major mines including Northparkes and Cadia. The proximity to Kempfield also raises the potential for shared infrastructure and development synergies if Trunkey mineralisation proves substantial.

What happens next: timeline and expansion optionality

The programme has been structured to provide Argent with flexibility to rapidly expand drilling if results validate the high-grade surface mineralisation and underlying structural targets. The roadmap is straightforward:

1. Drilling commences early September 2026 (Phase 1: 10 holes, approximately 1,000m, targeting interpreted westerly dipping structures)
2. First assays expected approximately 6 weeks after commencement
3. Programme structured to allow rapid expansion if results validate surface mineralisation and structural targets
4. Potential expansion to a programme of 10,000m–20,000m based on results and improved subsurface understanding

This is a disciplined, targeted start with clear scale-up optionality — a capital-efficient approach with a defined near-term catalyst. The market now watches for first drill results from a goldfield never systematically tested at depth.

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