VANCOUVER, Sept. 13 /PRNewswire-FirstCall/ - Argentex Mining
Corporation's (TSX-V: ATX, OTCBB: AGXM) is pleased to release the
most recent drill results from the Tranquilo vein on its wholly
owned Pinguino property in Santa
Cruz province, Argentina.
This recent drilling, which focused on new silver-gold targets,
successfully intersected the highest-grade silver mineralization
ever discovered on the property.
Hole P349-10, which was drilled into the 11-kilometer long
Tranquilo Trend crosscutting the Pinguino property, returned a
thick intersection of high-grade silver mineralization containing
6.0 meters of 2,428 g/t silver, 0.22 g/t gold, 0.32% copper and
0.74% lead. This new mineralization was discovered at shallow
depths of less than 15 meters within the oxidized zone. Holes
P349-10, P348-10, P358-10 and previously published hole P323-10
together confirm a new mineralized trend containing bonanza-grade
silver. This trend is in excess of 275 meters in length and remains
open ended along strike and at depth.
"These are truly spectacular silver results from Tranquilo. This
prominent regional Tranquilo fault remained the largest untested
structure at Pinguino until commencement of our 2010 drill
program," said Ken Hicks, President
of Argentex. "The discovery of this type of bonanza-grade silver
mineralization within such a massive structure has added a new
dimension to Pinguino's potential. Tranquilo has emerged as the
most significant silver discovery at Pinguino to date and we intend
to focus our exploration efforts there on further expansion and
definition."
Results
The following table displays selected analytical results from
the Tranquilo and Luna veins, both located within the northwest
Tranquilo Trend. All of the holes in the table intersected oxidized
gold and silver mineralization. A map of drill hole collars is
available on our web site.
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Drill Hole From To Interval Gold Silver Copper Lead
(m) (m) (m)* (g/t) (g/t) % %
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Vein: TRANQUILO
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P348-10 43.15 45.05 1.90 0.15 195.9 0.22 0.28
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P349-10 9.00 20.20 11.20 0.14 1315.8 0.20 0.45
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including 9.00 15.00 6.00 0.22 2428.3 0.32 0.74
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including 9.00 12.93 3.93 0.30 3568.8 0.37 0.95
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P350-10 42.00 44.70 2.70 0.08 228.7 0.50 0.15
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P353-10 36.65 43.25 6.60 0.16 229.0 0.92 3.03
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P358-10 45.20 54.30 9.10 0.09 168.1 0.36 1.25
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including 46.20 50.80 4.60 0.16 313.0 0.57 2.32
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Vein: LUNA
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P346-10 127.20 137.10 9.90 0.04 61.8 0.02 0.07
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including 130.70 134.55 3.85 0.07 110.7 0.03 0.04
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* True widths are estimated to be 85-90% of the stated core length
A total of 89 drill holes (P270-10 through P358-10) covering
6,224 meters have been completed at the Pinguino property as part
of the 2009-10 drill program. The program was designed to drill
test new precious metal targets and expand known discoveries.
Drilling focused on precious metal discoveries in the Tranquilo and
Luna veins, two major new silver and gold veins located within the
11-kilometer long Tranquilo Trend.
About Pinguino
Pinguino is located in Argentina's Patagonia region, within the
Deseado Massif of Santa Cruz
province. With more than 75 line kilometers of veins discovered to
date, the Pinguino property is host to the largest known
undeveloped vein system in Santa
Cruz province after the developed AngloGold Ashanti Cerro
Vanguardia mine. Both vein systems fall within the Tranquilo Trend,
a major northwest structural corridor in central Santa Cruz.
Quality Assurance
Exploration samples selected for analysis are sent to Acme
Analytical Laboratories' sample preparation lab in Mendoza,
Argentina. From there sample pulps
are sent to Santiago, Chile for
fire assay gold analysis and to Vancouver, Canada for Group 1DX multi-element
MS-ICP analysis. Samples 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 ALS Chemex in Mendoza,
Argentina and La Serena,
Chile. Argentex, Acme and ALS
Chemex all maintain comprehensive and independent Quality
Control/Quality Assurance programs.
ABOUT ARGENTEX:
Argentex Mining Corporation (www.argentexmining.com) is a
Delaware corporation. It is a
junior mining company in the exploration stage with significant
holdings in the Patagonia region of Argentina. In total, the company owns 100%
mineral rights to more than 35 properties with approximately
141,020 hectares of prospective land located in the Santa Cruz and Rio
Negro provinces of Argentina, including the Pinguino property.
Shares of Argentex 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. Kenneth
Hicks, P.Geo., Argentex's President and a Qualified Person
as defined by Canada's National
Instrument 43-101. Mr. Hicks has read and approved the contents of
this release. Mr. Hicks is not considered independent of the
issuer.
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, "Tranquilo has emerged as the most significant silver
discovery at Pinguino to date and we intend to focus our
exploration efforts there on further expansion and definition."
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 Commission.
SOURCE Argentex Mining Corporation
Copyright . 13 PR Newswire
