Argentex: Silver dominates 2010-2011 exploration program at Pinguino, Santa Cruz, Argentina
OTCBB: AGXM) is pleased to announce that its 2010-2011 exploration
program has commenced in
meters of drilling.
The program will focus on the high-grade silver intersections discovered
in reconnaissance drilling completed in 2010 in areas such as
Tranquilo, Tranquilo Sur and Luna. These veins are all wide open and
located within Pinguino’s Tranquilo Trend, a prominent regional
structure that crosscuts the property over 11 kilometers. Previously
published results in these areas include Hole P349-10, which returned a
thick intersection of high-grade silver mineralization containing 6.0
meters of 2,428 grams per tonne (g/t) silver and 0.22 g/t gold, Hole
P358-10 containing 4.6 meters of 313 g/t silver and 0.16 g/t gold, and
Hole 308-10 containing 6.40 meters of 486.6 g/t silver and 1.91 g/t
Drilling will initially target these high-grade silver zones from
surface to a depth of approximately 50 meters. Our geological modeling
predicts a precious-metal enrichment zone near surface. Previously
published metallurgical results show the mineralization in this
near-surface oxidized zone to have a simple mineralogy and excellent
recovery. Additional drill testing within this program is designed to
test the deeper extensions of this mineralization.
More than 50 individual veins have so far been discovered at Pinguino,
with a combined strike length in excess of 75 line kilometers. Only a
small percentage of Pinguino’s entire system of veins and known targets
has been drill tested to date.
“Our goal with this program is to expand the near-surface silver
mineralization by approximately 70%,” said
Argentex. “As many of the known high-grade silver intersections were
only recently discovered, we are excited about the potential to expand
Argentex proposes to drill a total of 17,000 meters using a combination
of reverse-circulation drilling (13,500 meters) to expand near-surface
oxidized silver-gold mineralization and diamond drilling (3,500
meters). The 2010-2011 program is also scheduled to include 12,000
meters of trenching.
Highlights of the 2009-2010 drill program at Pinguino show a very
successful first test of silver-gold mineralization and includes
intersections such as:
|Vein: MARTA NORTE|
Argentex’s Pinguino property is located in
within the Deseado Massif of
silver discoveries within newly tested structure of the district scale
vein system at Pinguino show potential for the development of a
significant silver resource.
The Deseado Massif is an active region of mining with four precious
metal mines currently in production. Advanced exploration as well as
early-stage projects are also well established in this area.
Samples selected for analysis are sent to Acme Analytical Laboratories’
sample preparation lab in Mendoza, Argentina. From there sample pulps
are sent to
with over-limit zinc, lead, silver and/or copper are reanalyzed using
an ore-grade high detection limit 7AR analysis, also conducted in
Vancouver. Acme Analytical Laboratories is an accredited ISO 9000:2001
full-service commercial laboratory with its head office in Vancouver.
Referee analyses will be carried out by
Argentina S.A. in Mendoza, Argentina. Argentex, Acme and
Argentex Mining Corporation is a
mining company in the exploration stage with significant holdings in
the Patagonia region of Argentina. It holds an undivided 100% interest
in the mineral rights to the Pinguino property. In total, the company
owns 100% mineral rights to more than 35 properties with approximately
307,981 acres (124,636 hectares) of prospective land located in the
common stock trade under the symbol AGXM on the OTCBB and on the TSX
Venture Exchange under the symbol ATX.
Exploration on the Pinguino property is being conducted under the
supervision of Mr.
Qualified Person as defined by
Mr. Hicks has read and approved the contents of this release and as
part of company management, he is not considered independent of the
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and
uncertainties. Words such as “expects”, “intends”, “plans”, “may”,
“could”, “should”, “anticipates”, “likely”, “believes” and words of
similar import also identify forward-looking statements.
Forward-looking statements in this news release include statements
about the company’s anticipation that the proposed program will
included 17,000 meters of drilling and 12,000 meters of trenching, its
goal to expand the near surface silver-gold mineralization by
approximately 70% and its statements about the potential to expand
recently discovered high grade silver intersections. Actual results may
differ materially from those currently anticipated due to a number of
factors beyond the Company’s control. These risks and uncertainties
include, among other things, competition for qualified personnel and
risks that are inherent in Argentex’s operations including the risk
that the Company may not find any minerals in commercially feasible
quantity or raise funds sufficient to prosecute its exploration plans.
These and other risks are described in the Company’s Annual Report on
Form 10-K and other filings with the Securities and Exchange
SOURCE Argentex Mining Corporation