Argentex Announces Drill Results from Its Pinguino Silver-Gold Project Including 4 Metres Averaging 132.9 g/t Ag and 2.53 g/t...
28 Novembre 2013 - 2:15PM
Marketwired Canada
Argentex Mining Corporation ("Argentex" or the "Company") (TSX
VENTURE:ATX)(OTCQB:AGXMF) is pleased to announce the first drilling results from
its 58-hole, 3,003-metre 2013 Phase IX resource development drill program at its
100%-owned Pinguino silver and gold project, located in Santa Cruz Province,
Argentina. To date, the Company has received results from 8 reverse circulation
("RC") holes, while 50 RC holes remain to be processed in the lab.
"We are pleased to see continued positive results from the Karina vein. Karina
was discovered in 2012, and was previously identified through ground magnetics
and soil surveys. The Karina vein has a known strike length of about 1,000
meters in three different segments (Karina I to III), and is crosscut and
displaced by the northwest-oriented veins, Marta Noroeste and Savary," commented
Michael Brown, President and CEO of Argentex. "We will be adding these results
and those that are still to be received to our internal geological model to
update the current resource."
Results from the Karina Vein are tabulated below:
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Ag eq
From To Length Ag Au (g/t) Cu Pb Zn In
Drill Hole (m) (m) (m) (g/t) (g/t) (i) (%) (%) (%) (g/t)
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PR243-13 41.00 76.00 35.00 55.5 0.48 79.3 0.02 0.84 0.24 0.9
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including 45.00 49.00 4.00 132.9 2.53 259.4 0.02 3.19 0.97 5.8
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including 70.00 74.00 4.00 151.5 0.41 172.1 0.02 0.89 0.16 0.1
----------------------------------------------------------------------------
PR255-13 40.00 82.00 42.00 44.0 0.39 63.5 0.01 0.56 0.21 2.0
----------------------------------------------------------------------------
including 46.00 50.00 4.00 206.8 1.39 276.4 0.06 2.36 1.01 7.8
----------------------------------------------------------------------------
including 60.00 64.00 4.00 49.1 1.47 122.6 0.01 0.79 0.18 2.0
----------------------------------------------------------------------------
PR258-13 49.00 51.00 2.00 63.1 0.77 101.8 0.01 0.46 0.02 0.2
----------------------------------------------------------------------------
PR259-13 less
than
18.00 32.00 14.00 36.9 0.52 63.0 0.01 0.15 0.05 0.5
----------------------------------------------------------------------------
including less
than
21.00 24.00 3.00 128.7 0.82 169.5 0.01 0.25 0.03 1.5
----------------------------------------------------------------------------
including less
than
30.00 32.00 2.00 4.8 1.20 64.9 0.01 0.07 0.03 0.1
----------------------------------------------------------------------------
PR260-13 23.00 54.00 31.00 54.4 0.27 68.0 0.01 0.63 0.13 4.6
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including 32.00 42.00 10.00 103.6 0.47 127.1 0.02 1.17 0.17 10.5
----------------------------------------------------------------------------
and
including 35.00 36.00 1.00 519.0 2.25 631.4 0.03 5.74 0.04 31.9
----------------------------------------------------------------------------
PR261-13 less
than
4.00 8.00 4.00 22.9 1.20 83.0 0.01 0.06 0.06 0.2
----------------------------------------------------------------------------
PR261-13 45.00 56.00 11.00 42.3 0.65 75.0 0.01 0.19 0.26 0.5
----------------------------------------------------------------------------
including 45.00 47.00 2.00 140.0 2.41 260.5 0.03 0.44 0.45 1.4
----------------------------------------------------------------------------
PR262-13 15.00 23.00 8.00 160.4 0.17 169.1 0.03 0.67 0.29 1.7
----------------------------------------------------------------------------
including 16.00 18.00 2.00 581.5 0.60 611.4 0.07 1.96 0.31 5.6
----------------------------------------------------------------------------
PR263-13 less
than
7.00 15.00 8.00 111.5 0.27 125.1 0.01 0.14 0.04 0.0
----------------------------------------------------------------------------
including less
than
7.00 9.00 2.00 278.0 0.87 321.3 0.01 0.29 0.05 0.0
----------------------------------------------------------------------------
(i) Ag Eq is Silver Equivalent of gold plus silver and based upon a price ratio
of 50:1 gold to silver. True widths are estimated to be 85 to 90% of the drilled
intersection length.
The higher grades located near intersections with adjacent or crosscutting veins
suggests a potential for high grade shoots to continue to depth. Arrayed from
west to east, those veins are Marta Este, Savary and CSV Norte. Targeting these
prospective shoots at depth may add new high grade mineralisation and other
intersections to Pinguino's resources. A long section and cross section for
these results are posted along with the news release on Argentex's website
(www.argentexmining.com).
About Pinguino
Argentex's 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, and includes multiple active
advanced and early stage exploration projects.
The Pinguino system has grown to 70+ individual veins, with a combined strike
length approaching approx. 113 line-kilometers. 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; a precious metal
intermediate sulphidation epithermal system and a polymetallic sulphide-rich
system.
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.
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
statement we will be adding these results and those that are still to be
received to our internal geological model to update the current resource and the
higher grades located near intersections with adjacent or crosscutting veins
suggests a potential for high grade shoots to continue to depth and targeting
these prospective shoots at depth may add new high grade mineralisation and
other intersections to Pinguino's resources. 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
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