Jan 25 2011
Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) has announced 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.
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.
Source: Argentex Mining Corporation