Silver continued its strong run on Wednesday, trading at around $US94.18 per ounce, up more than 200 per cent over the past year. The metal has outperformed gold as industrial and investment demand combine to fuel a market boom.
Approximately half of silver demand comes from industrial uses such as electronics and photovoltaics, while the remainder comes from investment and coins. This balance makes silver particularly sensitive to economic trends, helping explain its year-to-date gain of 32 per cent and one-year return of 206 per cent.
Against this backdrop, Australian-focused Argent Minerals reported a major high-grade discovery at its Kempfield polymetallic project in New South Wales.
Drillhole AKRC312 at the newly identified Kempfield NW lode returned 61m at 63.24 grams per tonne (g/t) silver equivalent (AgEq) from surface, including a 31m high-grade core at 103.47g/t and 9m at 178.33 g/t AgEq from 1m, with individual samples as high as 482g/t silver.
“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,” Argent Minerals managing director Pedro Kastellorizos said.
“This new hole, which remains open, provides Argent with significant confidence to follow up mapping and drilling out to increase the size of the resource.
“We are advancing metallurgical testwork in parallel and look forward to further drilling to unlock Kempfield’s full potential as one of Australia’s premier undeveloped silver-polymetallic projects.”
The discovery positions Argent to benefit from the ongoing silver rally, with the metal trading near the top of its 52-week range of $US28.43–95.87.
As industrial demand and investor interest remain strong, Australian silver projects like Kempfield are gaining attention as key beneficiaries of the current market upswing.
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