Argentum Completes 2,686 Metre First Phase of Drilling at Coyote Property in Jalisco, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/11/12 -- Argentum Silver Corp. (TSX VENTURE: ASL) ("Argentum" or the "Company") announces the completion of the first phase of the diamond-drilling program at its Coyote property, located in Jalisco Mexico. A total of 25 holes totaling 2,686 metres were drilled on the four identified vein zones: 11 holes on the El Tajo zone, 7 holes on the La Florida zone, 4 holes on the Bocancha zone and 3 holes on the La Colorada zone. The Company's original drill program called for 19 holes to be drilled, however, the high-grades intercepted in hole 2012-3, which included 2.0 metres of 2,745 g/t silver (Ag), and in hole 2012-7, which included 1.2 metres of 1,645 g/t Ag, encouraged the company to increase the number of holes drilled to 25. Results from the first seven holes were announced by news releases dated February 29 and March 6, 2012. Argentum is currently awaiting assay results from the remaining 18 holes.
The drill program was designed and supervised by Jim Robinson, the Company's Senior Geological Consultant and Advisor, and a Qualified Person under NI 43-101. Core samples were cut in half with a diamond saw, with one split half analyzed by ALS Chemex Labs. The Company used three qualified standards and blanks, irregularly inserted in the sample sequence. Included in the QA/QC program were RQD and Specific Gravity measurements. Analytical procedures include a 33 element ICP-AES analysis (ME-ICP61m) and a 50 g FA AA finish for gold (AA-24). Silver assays exceeding 100 g/t are re-assayed by HCL leach with an ICP-AES or AAS finish (OG62).
About the Coyote Property
The Coyote project is located near the town of Chilicayote, within the state of Jalisco, Mexico. Road access and infrastructure are excellent. The property is approximately 150 linear kilometres southwest of the capital city of Guadalajara, and roughly a 3 1/2 hour drive. The Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockworkings. Most of the mineralization occurs within six defined zones within an area of approximately 1.5 x 2.6 kilometres. Historic production concentrated on "bonanza" silver grades with operational depth limitations to the high water table.
About Argentum Silver
Argentum holds an option to earn a 100% interest from Soltoro Ltd. in the Coyote silver-gold project and the Victoria property, each located in Jalisco, Mexico. Argentum also holds the right to acquire a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, under an option agreement with Arco Resources Corp. For further information, please go to www.argentumsilvercorp.com.
On behalf of the Board of Directors of Argentum Silver Corp.
Warren McIntyre, President and Chief Executive Officer
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Argentum relies upon litigation protection for forward-looking statements.
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.
Contacts:
Argentum Silver Corp.
Ian Tootill
Director of Investor Relations
604.661.2110
ian@argentumsilvercorp.com
www.argentumsilvercorp.com