DGAP-News: ARGENTEX: EXCELLENT RECOVERY OF GOLD AND SILVER FROM PRELIMINARY METALLURGICAL TESTING ON PINGUINO
(firmenpresse) - Argentex Mining Corporation / Miscellaneous
26.05.2010 13:00
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
ARGENTEX: EXCELLENT RECOVERY OF GOLD AND SILVER FROM PRELIMINARY
METALLURGICAL TESTING ON PINGUINO
Vancouver, B.C., May 25, 2010 -- Argentex Mining Corporation (WKN: A0B9RY,
ISIN: US04012E1073) is pleased to announce results from its preliminary
metallurgical testing program. This is part of the company's ongoing
Preliminary Economic Assessment (scoping study) of the Pinguino project,
which is scheduled for completion at the end of the current quarter.
'We are encouraged by the results of these preliminary metallurgical tests
as they are the first indication of potential recoveries at Pinguino,' said
Ken Hicks, President of Argentex. 'We view these results as a positive
step in our efforts to advance the Pinguino project as we continue working
to determine the economic viability of the deposit.'
Two different types of mineralization believed to be representative of the
mineralization at Pinguino were selected for study: oxide precious metal
and primary polymetallic sulphide. Independent engineering and
metallurgical specialists developed and implemented test programs carried
out at an independent laboratory.
Results
Gold extraction by cyanide leaching of samples of oxide ore from three
mineralized zones were high, ranging from approximately 95 to 98 percent.
Silver extractions ranged between 74 and 96 percent. The three samples
tested had gold feed grades ranging from 0.34 to approximately 14 grams per
tonne (g/t). The silver contents in the feed ranged from approximately 260
to 726 g/t. The proportion of feed gold, which reported to the pan
concentrate, was variable but quite high for Marta Este and Marta Norte. On
average approximately 65 percent of the feed gold was recovered to the pan
concentrate for the Marta Este composite. Each sample was tested at a
target primary grind for particle sizing of 100 and 150µm K80, which is a
relatively coarse grind.
Sulphide mineralization was tested with a selected sample from Marta
Centro, the largest polymetallic vein discovered to date on the Pinguino
property. Recoveries of lead and zinc were favourable with more than 90
percent recoveries to their respective concentrates and 60 percent of
silver reporting to the lead concentrate. The sample was ground to a
nominal 102µm K80.
Indium assays remain to be completed and are in process now.
Scope of work for preliminary metallurgical testing at Pinguino
The scope of work for the oxide precious metal group involved chemical and
mineral scope analyses and metallurgical testing on composite samples from
three mineralized zones that are believed to be representative end members
of mineralization at the Pinguino project. The zones that were represented
by the samples tested were identified as Marta Norte, Marta Noroeste and
Marta Este. These mineralized zones were considered as essentially being
precious metal targets with low sulphur and elevated precious metal
contents.
Polymetallic sulphide work consisted of a standard two product preliminary
rougher flotation focused on a sample of high-grade sulphide-rich material
from the Marta Centro vein, which represents the largest and thickest
polymetallic silver-zinc-lead vein discovered at Pinguino to date.
Preliminary flowsheets to determine appropriate process parameters based on
the metallurgical test work have been developed for each type of
mineralization.
Metallurgical test work is being conducted by independent contractor G&T
Metallurgical Services Ltd. of Kamloops, British Columbia, Canada,
specialists in metallurgical testing and analytical services.
Metallurgical work is being supervised by John Thomas, Ph.D., technical
expert, and Robert J. Morris, M.Sc., P.Geo., through general engineering
contractor Moose Mountain Technical Services. Mr. Morris is an independent
Qualified Person as defined by Canada's National Instrument 43-101. The
test data will be used by Moose Mountain Technical Services to develop a
preliminary process flowsheet, to identify further testing requirements,
and to develop capital and operating costs for the scoping study that is
scheduled to be completed in the current quarter. The results of the
forthcoming PEA and details of this metallurgical testing are required to
be reported in a NI 43-101-compliant technical report 45 days after
completion.
Readers are cautioned that this information is preliminary in nature and
deals with a limited number of selected samples, though the Company
believes them to be representative samples. As the project advances, more
extensive metallurgical testing and engineering work would be required as
part of a more in-depth evaluation.
About Pinguino
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
AngloGold Ashanti 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.
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.
G&T Metallurgical Services Ltd. of Kamloops, British Columbia, Canada, are
specialists in metallurgical testing and analytical services. The company
was incorporated in Kamloops B.C. in 1990, constructing a modern and
well-equipped mineral processing research and development complex. They
offer a wide range of services assisting major to junior mining companies
including sample preparation, mineral processing testing,
mineralogical/modal analysis and chemical analysis.
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.
Qualified Persons
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. Robert J. Morris, M.Sc., P.Geo.,
through general engineering contractor Moose Mountain Technical Services,
is an independent Qualified Person as defined by Canada's National
Instrument 43-101. Mr. Morris has read and approved the contents of this
release.
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. Forward-looking statements in this
press release include the Company's anticipation that the Preliminary
Scoping Study of the Pinguino project will be completed on schedule at the
end of the current quarter. 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.
Kontakt:
Björn Junker
IR / PR-Beauftragter Europa
Tel.: +49 (0)40 / 41 33 09 50
Fax: +49 (0)40 / 41 33 09 55
e-Mail: junker(at)bjoernjunker.de
26.05.2010 13:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Bereitgestellt von Benutzer: EquityStory
" alt="Hana Mining Ltd. Announces Revisions to Arrangement for Spin-out of New Hana Copper Mining Ltd.Datum: 26.05.2010 - 13:00 Uhr
Sprache: Deutsch
News-ID 21477
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 251 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: ARGENTEX: EXCELLENT RECOVERY OF GOLD AND SILVER FROM PRELIMINARY METALLURGICAL TESTING ON PINGUINO"
steht unter der journalistisch-redaktionellen Verantwortung von
Argentex Mining Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
