Argentum Intercepts 10.0 Metres Grading 117 g/t Silver and 2.3 Metres Grading 419 g/t Silver at Coyote Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/11/12 -- Argentum Silver Corp. (TSX VENTURE: ASL) ("Argentum" or the "Company") is pleased to announce assay results from the final ten diamond drill holes recently completed on the La Florida and La Colorada veins at its Coyote property (http://www.argentumsilvercorp.com/s/coyote.asp) located in Jalisco, Mexico. These ten drill holes represent the balance of the Company's first-phase, 25-hole orientation drill program completed at Coyote.
The Company's previous three news releases have reported on 15 holes testing the El Tajo and Bocancha veins. A map of all drill hole locations in the Company's completed drill program are available at http://www.argentumsilvercorp.com/i/pdf/Coyote_drillplan.pdf.
Six drill holes tested the La Florida vein. Highlights include 10.0 metres grading 117 g/t silver (Ag) from hole 2012-17, with a higher grade core of 3.0 metres grading 279 g/t Ag. Four drill holes tested the La Colorada vein, which included 2.3 metres grading 419 g/t Ag. Select results from the La Florida and La Colorada drilling are as follows:
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Intercept
HOLE FROM TO Width Silver Gold Lead Zinc
ID(i) VEIN (m) (m) (m)(ii) (g/t) (g/t) (%) (%)
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2012 - 9 LA FLORIDA 17.2 17.8 0.6 39 0.79 0.63 0.96
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2012 - 11 LA FLORIDA 59.3 60.8 1.5 89 0.06 0.15 0.10
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2012 - 12 LA FLORIDA 45.5 47.2 1.7 185 0.14 0.09 0.06
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2012 - 13 LA FLORIDA 107.5 108.8 1.3 33 0.02 0.47 1.37
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2012 - 14 LA FLORIDA 44.6 45.8 1.2 66 0.18 0.27 0.24
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and 66.4 68.7 2.3 419 0.18 14.83 5.79
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including 67.5 68.7 1.2 760 0.17 greater 7.92
than 20.0
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2012 - 17 LA COLORADA 36.8 38.6 1.8 45 0.04 0.36 0.25
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and 94.0 104.0 10.0 117 0.06 0.07 0.07
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including 95.0 96.0 1.0 166 0.07 0.03 0.01
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including 101.0 104.0 3.0 279 0.14 0.15 0.21
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2012 - 18 LA COLORADA 44.0 45.0 1.0 155 0.11 0.0 0.0
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2012 - 25 LA COLORADA 90.0 90.7 0.7 120 0.08 0.28 0.27
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(i) Drill holes 2012-8 and 2012-19 did not intercept significant assay
values.
(ii) True widths are estimated to be roughly 70% of drill intercept length.
Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. 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). Jim Robinson, C.P.G., the Company's Senior Geological Consultant and Advisor, and a Qualified Person under National Instrument 43-101, has designed and supervised the program, and reviewed and approved the contents of this press release.
Exploration Summary and Proposal
The northwest trending La Colorada vein is traceable for 300 metres at surface by a series of surface and underground workings with supportive geophysics, geochemistry and trenching. The northwest trending La Florida vein is traceable for 400 metres at surface by a series of surface and underground workings with supportive geophysics and geochemistry. The northeast trending El Tajo vein is traceable for 600 metres at surface by a series of surface and underground workings with supportive geophysics and geochemistry. The positive results the Company has previously reported from the El Tajo vein have excellent potential for bonanza grades at depth. Highlights from the previously completed drill holes on the El Tajo vein included an intercept of 2.0 metres of 2,745 g/t Ag in hole 2012-3 and 1.2 metres of 1,645 g/t Ag and 2.4 metres of 900 g/t Ag in hole 2012-7. To date, a total of 12 holes have been drilled on the El Tajo vein which tested the strike length of the vein for more than 500 metres. An additional 4 drill holes drilled at the Bocancha vein did not yield significant assay values. Complete highlights from the previous drill holes are available in our news releases dated February 29, 2012, March 6, 2012 and June 11, 2012.
Argentum has been preparing the cross-sections of all the drill holes to date. In addition, the Company has been further mapping and trenching additional veins including the Valenciana vein to the southwest. This vein is of particular interest and is untested to date. The positive results from the Colorada vein have encouraged the Company to carry out further trenching and mapping of the area for a potential late summer drill program. The underground adits at the El Tajo vein have been rehabilitated and are currently being mapped and sampled as well. Results from this work will be released throughout the summer months as they become available.
All of this work is to help Argentum focus on its proposed drill program to take place in late summer/early fall of this year. The Company is currently in negotiations with several drilling contractors, and the total number of meters proposed for this program has yet to be determined.
About the Coyote Property
The 1053-hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockworks. Most of the mineralization occurs within six defined zones within an area of approximately 1.5 x 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Local areas of stockworks can exceed 35 metres wide. Over 100 historic workings and prospects explored and partially developed the district through the early 1900's. Historic production concentrated on "bonanza" silver grades with operational depth limitations to the high water table.
About Argentum Silver
Argentum has 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 owns a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, formally 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
Forward-Looking Statements
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