Argentex Announces Final Trenching Results from its Pinguino Silver-Gold Project Including 1.5 metres Averaging 4.81 g/t Au a...
18 March 2014 - 12:00AM
Marketwired Canada
Argentex Mining Corporation (TSX VENTURE:ATX)(OTCQB:AGXMF) ("Argentex" or the
"Company") is pleased to announce the complete trenching results from its
6,000-metre 2013 Phase IX resource development program at its 100% owned
Pinguino silver and gold project, located in Santa Cruz Province, Argentina.
Selected results from the trenching program are highlighted in the following
table (see Company website for complete results:
http://www.argentexmining.com/s/Pinguino.asp)
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From To Length Au Ag Ag Eq
Vein Trench (m) (m) (m) (g/t) (g/t) (g/t)
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Ivonne Norte IVN-03-11 39.7 41.7 2.0 3.01 1.8 152.3
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KAR-02-13 5.7 35.5 29.8 0.18 41.7 50.4
------------------------------------------------------------
including 7.7 9.2 1.5 1.15 201.3 258.9
Karina ------------------------------------------------------------
including 15.0 15.5 0.5 0.27 837.0 850.6
------------------------------------------------------------
including 34.4 35.5 1.1 1.14 139.0 195.8
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CSS CSS-10-13 33.3 42.0 8.7 0.84 1179.7 1221.7
------------------------------------------------------------
including 34.3 35.8 1.5 4.81 6771.3 7011.7
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SAV-34-13 26.5 35.3 8.8 1.15 59.5 117.1
------------------------------------------------------------
including 27.0 28.0 1.0 3.75 294.0 481.6
------------------------------------------------------------
SAV-34-13 42.6 46.0 3.4 1.54 14.5 91.5
Savary ------------------------------------------------------------
including 44.6 46.0 1.4 3.56 27.1 205.0
------------------------------------------------------------
SAV-32-13 3.2 10.4 7.2 0.79 48.9 88.6
------------------------------------------------------------
including 5.2 7.4 2.2 2.40 128.8 249.0
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TR-144-13 31.4 41.4 10.0 0.08 520.9 524.8
------------------------------------------------------------
Tranquilo including 34.4 38.4 4.0 0.17 1192.8 1201.4
------------------------------------------------------------
TR-146-13 21.2 25.9 4.7 0.17 209.2 217.5
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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 trenching program was undertaken principally to extend the areas of known
near-surface mineralisation at Pinguino. In addition to providing better
continuation to the high grade zone at Tranquilo, the trenches have extended and
confirmed the presence of good medium to high grade gold mineralisation at
surface in the more easterly veins at Savary and the CSS-CSV group, which is a
very encouraging outcome," commented Michael Brown, President and CEO of
Argentex. "As we now have complete results from the trenching, the revised
geological interpretation can be completed in preparation for an upgraded
mineral resource."
The trenching plays an important role in characterising remnant mineralisation
in the oxidized zone at Pinguino. The low silver grade in the trenches is
generally not correlated to grade at depth. This is typical for leached
material. However, higher grade mineralisation in the trenches is strongly
correlated to the presence of supergene enriched, high grade silver zones.
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.
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 its
laboratory in Vancouver, Canada for multi-element ICP-MS analysis (1DX
procedure). Samples overlimit in silver, lead, zinc, and/or copper are
reanalysed by a high detection limit ICP-ES analysis (7AR procedure). Samples
overlimit in silver from that procedure and gold results greater than 300 ppb
are rerun by fire assay (G6 procedure). Acme Analytical Laboratories is an ISO
9000:2001 accredited full-service commercial laboratory, with its head office
located in Vancouver.
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
following statements: "the revised geological interpretation can be completed in
preparation for an upgraded mineral resource" and "the trenching program was
undertaken principally to extend the areas of known near-surface mineralisation
at Pinguino". 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
Michael Brown
CEO & President
604-568 2496
604-568-1540 (FAX)
info@argentexmining.com
www.argentexmining.com
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