VANCOUVER,
Jan. 24 /PRNewswire/ - Argentex
Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to announce
that the company has commenced drilling at its Pinguino silver
project in Santa Cruz, Patagonia,
Argentina.
The proposed 17,000-meter drill program will
initially target shallow, silver-rich mineralization discovered in
late 2010 drilling. Multiple centers of this type of high-grade
mineralization were discovered throughout the Pinguino property in
veins including Tranquilo, Marta
Norte, Tranquilo Sur and Luna. These discoveries remain wide
open in all directions and have excellent potential for expansion.
Previously published results in these areas include Hole P349-10,
which returned an intersection of high-grade silver mineralization
containing 6.0 meters of 2,428 grams per tonne (g/t) silver and
0.22 g/t gold, Hole P358-10 containing 4.6 meters of 313 g/t silver
and 0.16 g/t gold, and Hole 308-10 containing 6.40 meters of 486.6
g/t silver and 1.91 g/t gold.
"We have a strong treasury and we are excited to
begin this strategic phase of drilling at Pinguino, targeting the
previously discovered high-grade silver intersections for expansion
along strike and at depth," said Ken
Hicks, President of Argentex. "We have never been in a
better position to move the company forward and demonstrate the
excellent geological potential at Pinguino."
Drilling will also target a potential new zone of
mineralization believed to occur throughout the Pinguino
district-scale mineralized vein system. This zone is represented at
the transition point above the contact between oxide and primary
mineralization. Management believes this zone represents an area of
mineralized enrichment that has only recently been recognized. It
holds potential for higher grade near-surface mineralization.
Additionally, drilling will target numerous areas
with well-defined drill targets to expand the existing mineral
resource at depth. Gradient IP surveys currently in progress will
be used to further refine targets, expand known mineralized
signatures to depth and develop new drill targets.
Surface Rights
Argentex's recent acquisition of the surface rights
overlaying Pinguino solidifies the company's presence and
commitment to the long-term vision for the project. Securing both
the mineral and surface rights is a key combination in creating the
stable environment that meets the needs of the company now and in
the future.
About Pinguino
Argentex's Pinguino property is located in
Argentina's Patagonia region,
within the Deseado Massif of Santa
Cruz province. Recent high-grade silver discoveries within
the newly tested Tranquilo structure of the district-scale vein
system at Pinguino show potential for the development of a
significant silver resource.
The Deseado Massif is an active region of mining
with four precious metal mines currently in production. Advanced
and early-stage exploration projects are also widespread throughout
the Deseado Massif with junior, mid-tier and senior exploration
companies active in the area.
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 Santiago, Chile for fire assay gold analysis
and to Vancouver, Canada for Group
1DX multi-element MS-ICP analysis. Samples with over-limit
zinc, lead, silver and/or copper are reanalyzed using an ore-grade
high detection limit 7AR analysis, also conducted in
Vancouver. Acme Analytical Laboratories is an accredited ISO
9000:2001 full-service commercial laboratory with its head office
in Vancouver. Referee analyses will be carried out by ALS
Chemex (Argentina) in Mendoza,
Argentina. Argentex, Acme and ALS Chemex all maintain
comprehensive and independent Quality Control/Quality Assurance
programs.
ABOUT ARGENTEX:
Argentex Mining Corporation is a Delaware corporation. It is a junior
mining company in the exploration stage with significant holdings
in the Patagonia region of Argentina. It holds an undivided
100% interest in the mineral rights to the Pinguino property.
In total, the company owns 100% mineral rights to more than 35
properties with approximately 307,981 acres (124,636 hectares) of
prospective land located in the Santa
Cruz and Rio Negro provinces
of Argentina. Shares of Argentex common stock trade under the
symbol AGXM on the OTCBB and on the TSX Venture Exchange under the
symbol ATX.
Exploration on the Pinguino property is being
conducted under the supervision of Mr. Kenneth Hicks, P.Geo., Argentex's President and
a Qualified Person as defined by Canada's National Instrument 43-101. Mr.
Hicks has read and approved the contents of this release and as
part of company management, he is not considered independent of the
issuer.
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.
FURTHER INFORMATION:
Ken Hicks, President
Argentex Mining Corporation
1-866-594-7687
info@argentexmining.com
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 statements about "these discoveries remain wide
open in all directions and have excellent potential for expansion.
Drilling will also target a potential new zone of mineralization
believed to occur throughout the Pinguino district-scale
mineralized vein system. This zone is represented at the
transition point above the contact between oxide and primary
mineralization. Management believes this zone represents an area of
mineralized enrichment that has only recently been
recognized." 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, competition for qualified personnel and risks
that are inherent in Argentex's operations including the risk that
the Company may not find any minerals in commercially feasible
quantity or raise funds sufficient to prosecute its exploration
plans. These and other risks are described in the Company's
Annual Report on Form 10-K and other filings with the Securities
and Exchange Commission.
SOURCE Argentex Mining Corporation
Copyright . 24 PR Newswire