Argentum Silver Intersects 2.90 metres of 449 g/t Silver and 1.44 g/t Gold at El Tajo Vein
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- Argentum Silver Corp. (TSX VENTURE: ASL) has now received results from the final 7 of 17 diamond drill holes recently completed on the 2,164 metre Phase II drill program at its Coyote silver-gold property in Jalisco, Mexico. Four of the 7 holes explored the El Tajo vein while three explored the La Colorada vein to the northwest of El Tajo.
Highlights from these 7 new drill holes include two El Tajo intercepts of 2.90 metres of 449 g/t silver (Ag) and 1.44 g/t gold (Au) from Hole 2012-42, and a lower intercept from Hole 2102-36 of 3.70 metres of 179 g/t silver which was not previously reported. Mineralized intercepts from these 7 holes are as follows:
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VEIN HOLE FROM TO WIDTH(1) Ag Au AgEQ(2)
ID (m) (m) (m) (g/t) (g/t) (g/t)
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Upper El
Tajo(2)(i) 2012-36 71.70 73.65 1.95 854 0.31 870
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El Tajo(i) 135.80 137.10 1.30 42 0.17 51
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El Tajo 144.00 147.70 3.70 179 0.05 182
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La Colorada 2012-37 130.95 131.35 0.40 85 0.01 86
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La Colorada 2012-38 56.45 60.85 4.40 66 0.04 68
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La Colorada 2012-39 58.00 60.10 2.10 30 0.03 32
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El Tajo 2012-40 114.65 115.65 1.00 85 0.46 109
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El Tajo 2012-41 117.00 118.20 1.20 31 0.06 34
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El Tajo 2012-42 85.50 88.40 2.90 449 1.44 524
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(1) True widths are estimated to be roughly 70% of drill intercept length.
(2) AgEQ = Silver Equivalent based on Au price of US$1756.1/oz and Ag price
of US$33.63/oz.
(i)Previously reported in our October 25, 2012 news release.
The El Tajo vein has been intercepted by drilling to depths ranging from 65 to 120 metres vertical from surface, over a strike length of 600 metres. El Tajo drill intercepts to date range from 0.85 metres to 11.0 metres (11.0 metres of 288 g/t Ag from Hole 2012-28). Grades range from 31 g/t Ag to 1,470 g/t Ag (4.0 metres of 1,470 g/t Ag from Hole 2012-3). A separate sub parallel hanging wall vein labeled Upper El Tajo 2 has been intercepted over a strikelength of 350 metres. Upper El Tajo 2 drill intercepts to date range from 0.35 metres to 2.5 metres (2.5 metres of 403 g/t Ag from Hole 2012-7). Grades range from 16 g/t Ag to 1,083 g/t Ag (0.85 metres of 1,083 g/t Ag from Hole 2012-29).
"Phase 2 of our drill program pulled consistently good results from the El Tajo vein, and the last few holes being reported here are no different. We are happy with the results and once final interpretations are completed by our geological team, we will be putting out a summary news release," said Warren McIntyre, President of Argentum Silver.
The 1053-hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockworking. Most of the mineralization occurs within seven defined zones within an area of approximately 1.5 x 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Stockwork zones have locally been mapped at surface where widths have exceeded 35 metres. Results released from this drill program have only tested the El Tajo and La Colorada historic mine areas.
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). Paul Cowley, P.Geo. and the Company's Senior Geological Consultant and Advisor, and a Qualified Person under NI 43-101 has designed and supervised the program, and reviewed and approved the contents of this press release.
About 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. Topography is generally gentle to moderate. A regional electrical power line crosses the property.
About Argentum Silver
Argentum has earned a 100% interest in the Coyote silver-gold project and Victoria property located in Jalisco, Mexico. Argentum also owns a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico.
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