Argentex Mining Announces 2013 Resource Development Program at Its Pingüino Silver-Gold Project

Argentex Mining Corporation ("Argentex" or the "Company") (TSX VENTURE:ATX)
(OTCQB:AGXMF) is pleased to announce that it plans to commence resource
development drilling on its Pinguino silver-gold project in Santa Cruz province,
Argentina in September 2013. 


The program will consist of 3,000 metres of reverse circulation ("RC") drilling
and up to 5,000 metres of trenching to target specific known vein systems and
other high-priority mineralised zones. The program is intended to help the
Company continue to build on the mineral resource estimate disclosed in its news
release of January 31, 2013.


"As a result of our CDN$4.975 million strategic investment from Austral Gold
Limited in July 2013, we are in a strong financial position to execute on our
strategy to increase the Pinguino silver and gold resource and advance the
overall development of the project," commented Michael Brown, President and CEO
of Argentex.


Drilling and trenching will target medium to high-grade oxide material that
holds the potential for open pit mining. Targets include untested areas in veins
already included in the January 2013 resource estimate, as well as known but
under-explored veins not included in the estimate. The Company believes that
adding open pittable, medium to high grade material in areas where
mineralisation has already been discovered is the most prudent way to continue
to advance the development of the project while minimising expenditures. Some of
the higher priority targets selected for drilling in the 2013 program include
the Karina, Luna, CSV, Tranquilo, Marta Noroeste, and Savary veins.


About Pinguino Silver-Gold Project

The 10,000-hectare advanced silver and gold exploration Pinguino project is
located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz
province. The Deseado Massif is an active region of mining with four precious
metal mines currently in production, several active advanced development
projects, and multiple properties with early stage exploration activities.


The current mineral resource estimate at the Pinguino Silver-Gold Project is
summarized below:




----------------------------------------------------------------------------
      Category                   Grade (g/t)               Ounces           
----------------------------------------------------------------------------
                       Tonnes    Ag   Au AgEq.         Ag      Au      AgEq.
----------------------------------------------------------------------------
Indicated           5,564,000 102.8 0.59 132.4 18,385,000 106,000 23,685,000
----------------------------------------------------------------------------
Inferred            1,531,000  58.0 0.74  95.1  2,854,000  36,400  4,674,000
----------------------------------------------------------------------------

1.  Ag equivalent grade = Ag grade + (Au grade (i) 50) (Rounding may cause
    apparent discrepancies). 
2.  Mineral Resources are not Mineral Reserves and do not have demonstrated
    economic viability. There is no certainty that all or any part of the
    estimated Mineral Resources will be converted into Mineral Reserves. All
    Mineral Resources have been classified in accordance with the Canadian
    Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on
    Mineral Resources and Reserves, Definitions and Guidelines prepared by
    the Standards Committee on Reserve Definitions and adopted by the CIM
    Council on December 11, 2005 and updated on November 27, 2010. 
3.  Two cutoffs are given for reporting the resources: 40g/t AgEq for
    elevations above 270m, and 100g/t AgEq for elevations below 270m
    elevation. Average elevation at Pinguino is 400 metres above sea-level. 



The mineral resource estimate was prepared by Steven Ristorcelli, C. P. G.,
Principal Geologist at Mine Development Associates ("MDA") in Reno, Nevada in
accordance with National Instrument ("NI") 43-101 disclosure practices, and he
is an independent "Qualified Person" as defined by NI 43-101. For full
disclosure please refer to the report titled "Technical Report on the Pinguino
Project, Santa Cruz Province, Argentina", dated January 31, 2013, filed under
the Company's profile at www.sedar.com.


The Pinguino system has grown to 70+ individual veins, with a combined strike
length approaching approx. 113 line-kilometres. The Pinguino project is unique
within the Deseado Massif region of Santa Cruz province in that it contains two
different and spatially distinct types of mineralisation, one precious metal and
the other sulphide-rich polymetallic. Pinguino is easily accessible, situated
approximately 400 metres above sea level in low-relief topography. An existing
system of all-weather roads provides year-round access to the property.


Technical content of this press release has been reviewed and approved by Mr. J.
David Williams, P. Eng., an independent "Qualified Person" as defined by NI
43-101.


About Argentex

Argentex Mining Corporation is an exploration company focused on developing its
advanced Pinguino silver-gold project located in Santa Cruz, Patagonia,
Argentina. In total, Argentex owns 100% of 100,000+ hectares of highly
prospective land located in the Santa Cruz and Rio Negro provinces. Shares of
Argentex common stock trade under the symbol ATX on the TSX Venture Exchange and
under the symbol AGXMF on the OTCQB. 


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.


On behalf of Argentex Mining Corporation: 

Michael Brown, President and CEO

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 the timing
and scope of the proposed drill program, the Company's anticipation that it can
add to the silver and gold resource at Pinguino and advance the Pinguino
project, the possibility that any resources added from the proposed drill
program would be suitable for an open pit operation and that the Company's focus
on attempting to identify open pittable medium to high grade material in areas
where mineralization has already been discovered is the most prudent way to
proceed. 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, management's assumptions about the
availability of the necessary consultants and capital and the risks inherent in
Argentex's operations, including the risks that the Company may not find any
minerals in commercially feasible quantity or raise enough money to fund its
exploration plans. These and other risks are described in the Company's Annual
Information Form and other public disclosure documents filed on the SEDAR
website maintained by the Canadian Securities Administrators and the EDGAR
website maintained by the Securities and Exchange Commission.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Argentex Mining Corporation
Peter A. Ball
EVP Corporate Development
604-568-2496 (ext. 103) or 1-888-227-5285 (ext. 103)
604-568-1540 (FAX)
peter@argentexmining.com
www.argentexmining.com
Atex Resources (TSXV:ATX)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024