Argentex Mining Announces Final Trenching Results from its Pinguino Silver-Gold Project
17.03.2014 | Marketwire
Including 1.5 metres Averaging 4.81 g/t Au and 6771.3 g/t AgVANCOUVER, Mar 17, 2014 - Argentex Mining Corp. (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 Pingüino 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)
| From | To | Length | Au | Ag | Ag Eq | ||
| Vein | Trench | (m) | (m) | (m) | (g/t) | (g/t) | (g/t) |
| Ivonne Norte | IVN-03-11 | 39.7 | 41.7 | 2.0 | 3.01 | 1.8 | 152.3 |
| Karina | 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 | |
| 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 | |
| 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 | |
| Savary | 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 | |
| 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 | |
| Tranquilo | TR-144-13 | 31.4 | 41.4 | 10.0 | 0.08 | 520.9 | 524.8 |
| 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 | |
| * 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 Pingüino. 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 Pingüino. 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 Pingüino
Argentex's 10,000-hectare advanced silver and gold exploration Pingüino 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 Pingüino system has grown to 70+ individual veins, with a combined strike length approaching ~113 line-kilometers. The Pingüino 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.
Pingüino 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 >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 Corp. is an exploration company focused on developing its advanced Pingüino 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 Corp.:
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 Pingüino". 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.
Contact
Argentex Mining Corp.
Michael Brown, CEO & President
604-568 2496
604-568-1540
info@argentexmining.com
www.argentexmining.com