DGAP-News: Argentex Mining Corporation: Argentex silver footprint grows at Pinguino; trenches 1.72 meters of 487 g/t silver in new vein
(firmenpresse) - Argentex Mining Corporation / Miscellaneous
05.05.2010 17:00
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Argentex silver footprint grows at Pinguino; trenches 1.72 meters of 487
g/t silver in new vein
Vancouver, B.C., May 5, 2010 -- Argentex Mining Corporation (WKN: A0B9RY,
ISIN: US04012E1073) is pleased to provide an update on ongoing exploration
activities at its Pinguino property in the silver-gold district of Santa
Cruz, Patagonia, Argentina.
The northwestern corner of the 10,000-hectare Pinguino property continues
to yield new precious metal vein discoveries and excellent results from
trenching. The latest results received are from the Luna vein. Results
include high-grade silver of 487 grams per tonne over a width of 1.72
meters contained within a larger zone of 6.3 meters averaging 169.9 g/t
silver.
'Our silver-gold mineralization footprint continues to expand in this
prospective area of the Pinguino project,' said Ken Hicks, President of
Argentex. 'Soil sampling, prospecting, trenching and follow-up drill
testing have been very effective in defining new precious metal veins,
adding to the inventory of known mineralized veins at Pinguino.'
Results
The following table displays select analytical results for trenching during
the company's 2009-2010 work program. All of the trenches are located at
the northwest corner of Pinguino in the general vicinity of the Marta Norte
zone. A location map showing the drilling and trenching zones is available
on our web site:
http://www.argentexmining.com/fileupload/pdf/Pinguino_Drilling_Zones.pdf.
Trench Start Finish Length Gold (g/ SilverAbout Pinguino
(m) (m) (m) t) (g/t)
Area: Luna and
vicinity
LUN 09-10 31.20 33.00 1.80 1.72 487.0
within 26.70 33.00 6.30 0.50 169.9
LUN 10-10 31.50 32.00 0.50 0.35 104.0
LUN 10-10 42.60 44.80 2.20 0.12 100.6
LUN 12-10 17.00 19.50 2.50 0.33 97.6
LUN 15-10 21.00 24.00 3.00 0.13 114.0
FAN 02-10 19.70 21.20 1.50 0.38 98.1
FAN 04-10 16.60 23.60 7.00 0.38 116.8
FAN 07-10 9.40 10.10 0.70 0.08 38.7
TR 130-10 47.50 49.50 2.00 0.04 72.3
TR 143-10 15.00 21.00 6.00 0.01 81.7
TR 143-10 18.00 21.00 3.00 0.01 134.3
MN 01-10 4.50 8.70 4.20 1.09 12.7
ISL 02-10 8.20 10.00 1.80 1.03 313.8
ISL 03-10 6.80 7.60 0.80 0.72 126.0
ISL 18-10 3.60 4.60 1.00 0.89 6.2
Pinguino is located in Argentina's Patagonia region, within the Deseado
Massif of Santa Cruz province. With more than 74 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
AngloGoldAshanti Cerro Vanguardia mine. Both vein systems fall within the
Tranquilo trend, a major northwest structural corridor in central Santa
Cruz.
Mineralization at Pinguino is unique in the region, containing
silver-indium-zinc-lead-gold in multiple zones that remain open-ended along
strike and to depth. To date, Argentex has drilled 333 holes at Pinguino
for a total of 33,559 meters.
Pinguino is easily accessible, situated approximately 400 meters above sea
level in low-relief topography. An existing system of all-weather roads
provides year-round access to the property.
The majority of mineralized zones at Pinguino lie along the strike of the
northwest-trending Tranquilo trend, which is a dominant northwest trending
regional fault structure cutting across the approximately 10,000-hectare
property.
Quality Assurance
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 Alex Stewart (assayers) Argentina S.A. in Mendoza,
Argentina. Argentex, Acme and Alex Stewart all maintain comprehensive and
independent Quality Control/Quality Assurance programs.
ABOUT ARGENTEX:
Argentex Mining Corporation 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. Argentex also trades in Germany under WKN
A0B9RY and ISIN US04012E1073.
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.
FURTHER INFORMATION:
Ken Hicks, President
Argentex Mining Corporation
+49 (0) 40 41 33 09 50
info(at)argentexmining.com
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. 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.
05.05.2010 17:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------Unternehmensinformation / Kurzprofil:
Datum: 05.05.2010 - 17:00 Uhr
Sprache: Deutsch
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