Argentex drills 12.0
meters grading 512.5 g/t Ag and 1.12 g/t Au at Pinguino
project and expands high-grade silver footprint to new zones.
Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to release additional drill results from
its 2011 exploration program at its 100%-owned Pinguino
project located in Santa Cruz, Argentina. To date, the Company has completed
11,195 meters of RC drilling in 162 holes and 3,611 meters of diamond drilling
in 19 holes. The following table includes results from the most recent 18 holes
from the Marta Este and Marta Sur veins.
A copy of
the full press release is attached for your reference. For further information
please contact us at 1-866-594-7687, or via e-mail at info@argentexmining.com.
Sincerely,
Adam Bello
Investor
Relations
Primoris Group Inc.
Tel.: (416)
489-0092 * 1 (866) 594-7687 x 226
Fax: (416)
352-5239
E-mail: abello@primorisgroup.com
The contents
of this e-mail are confidential and may be legally privileged. It is intended
solely for the addressee. Access to this e-mail by anyone other than the
addressee is unauthorized. If you are not the intended recipient (or
responsible for delivery of the message to the recipient), you should inform
the sender at the e-mail address from which this message was transmitted or
call (416) 489-0092 and delete this message from your system and destroy any
hard copies. Unauthorized use, disclosure, copying or distribution is
prohibited and may be unlawful.
Argentex
Drills 12.0 Meters Grading 512.5 g/t Ag and 1.12 g/t Au at
Pinguino
Project and Expands High-Grade Silver Footprint to New Zones
Vancouver, B.C., April 12, 2011 - Argentex
Mining Corporation (TSXV: ATX, OTCBB: AGXM) is pleased to release additional
drill results from its 2011 exploration program at its 100%-owned Pinguino project located in Santa Cruz, Argentina. To date,
the Company has completed 11,195 meters of RC drilling in 162 holes and 3,611
meters of diamond drilling in 19 holes. The following table includes results
from the most recent 18 holes from the Marta Este and Marta Sur veins..
Drill Hole
|
From
(m)
|
To
(m)
|
Interval
(m)*
|
Gold�
(g/t)
|
Silver
g/t
|
Marta
Este Vein
|
PR54-11
|
14
|
28
|
14
|
1.6
|
114.2
|
Including
|
23
|
28
|
5
|
2.68
|
202.8
|
PR55-11
|
18
|
31
|
13
|
1.08
|
144.7
|
Including
|
23
|
28
|
5
|
2.36
|
309.4
|
PR58-11
|
24
|
27
|
3
|
1.35
|
128.3
|
PR59-11
|
17
|
27
|
10
|
1.47
|
149.5
|
Including
|
17
|
19
|
2
|
2.29
|
201
|
PR61-11
|
9
|
29
|
20
|
0.22
|
34.9
|
PR62-11
|
8
|
32
|
24
|
0.68
|
277.4
|
Including
|
17
|
29
|
12
|
1.12
|
512.5
|
PR63-11
|
23
|
25
|
2
|
0.29
|
41.5
|
PR65-11
|
8
|
9
|
1
|
0.02
|
14.9
|
Marta Sur Vein
|
PR66-11
|
27
|
29
|
2
|
0.56
|
13.6
|
PR68-11
|
24
|
41
|
17
|
0.15
|
64.6
|
Including
|
27
|
30
|
3
|
0.36
|
118.0
|
PR69-11
|
18
|
36
|
18
|
0.03
|
26.5
|
Including
|
20
|
21
|
1
|
0.15
|
83.0
|
PR71-11
|
18
|
38
|
20
|
0.04
|
26.9
|
Including
|
28
|
29
|
1
|
0.17
|
167.0
|
PR73-11
|
13
|
46
|
33
|
0.17
|
41.5
|
Including
|
27
|
37
|
10
|
0.12
|
85.0
|
and includes
|
45
|
46
|
1
|
3.89
|
42.8
|
PR74-11
|
32
|
36
|
4
|
0.27
|
12.9
|
PR76-11
|
23
|
24
|
1
|
0.55
|
5.3
|
PR78-11
|
21
|
22
|
1
|
0.30
|
0.4
|
PR79-11
|
21
|
34
|
13
|
0.11
|
44.5
|
Including
|
21
|
22
|
1
|
0.66
|
327.0
|
PR81-11
|
20
|
27
|
7
|
0.13
|
37.2
|
Including
|
21
|
22
|
1
|
0.50
|
123.0
|
*True widths are estimated to be 85-90% of the stated core length
�We continue to define significant near surface silver mineralization at
Pinguino. With more than 51 veins mapped to date and
many targets remaining to be tested, our 2011 exploration program is focused on
expanding our silver resource,� commented Ken Hicks, President of Argentex. �We are encouraged by the large intervals of
silver mineralization and the higher than expected gold values from this recent
drilling. We continue to plan additional drilling in our efforts to further
expand these zones along strike and at depth.�
Results
The
table above displays selected analytical results from a total of 18 reverse
circulation holes; 10 of these holes are from Marta Este and eight are from
Marta Sur. All of the holes in the table intersected oxidized gold and silver
mineralization at shallow levels below surface. A map of drill hole collars is available on our web site at www.argentexmining.com.
The program was designed to expand silver targets from our
2010 reconnaissance program as well as test new targets. Two drills are
currently operating on the project. Results will be published based upon the
highest number of completed holes per zone within approximately a two-week
period.
Prior to 2010, primary mineralization at Marta Este was
drill tested at depth and high concentrations of silver were discovered,
meriting further investigation. The new shallow drilling intersected wide
intervals of silver and gold mineralization with higher-grade values in the
centers. Hole PR62-11 returned an interval of 24 meters grading 277.4 g/t Ag
and 0.68 g/t Au, and contained a higher-grade core of 12 meters grading 512.5
g/t Ag and 1.12 g/t Au.
The Marta Sur zone has had minimal drill testing, but
contains large exposures of banded and colloform
epithermal quartz, which is typically found in areas of prospective epithermal
mineralization. Previous reconnaissance drilling in this zone returned 33.7 g/t
Ag and 7.82 g/t Au over 3.26 meters in hole P44-05. The
recent eight shallow drill holes, as shown above, intersected anomalous silver
and gold mineralization. To date, drilling at Marta Sur has been tested
along strike length for 1,000 meters and to a depth of 90 meters.
About Pinguino
Argentex�s Pinguino property is located in
Argentina�s Patagonia region, within the Deseado
Massif of Santa Cruz province. Argentex believes that
recent high-grade silver discoveries within newly tested structures 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, and
includes multiple active advanced and early stage exploration projects.
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 Alex
Stewart (assayers) Argentina S.A. in Mendoza, Argentina. Argentex,
Acme and Alex Stewart all maintain comprehensive and independent Quality
Control/Quality Assurance programs.
Exploration on the Pinguino
property is being conducted under the supervision of Mr. Kenneth Hicks, P.Geo. Argentex's President and a
"Qualified Person" (QP) as defined by Canada's National Instrument
43-101.
About Argentex:
Argentex Mining Corporation is an exploration company focused on the
discovery of silver, gold and polymetallic deposits
on its advanced late-stage exploration projects in the Patagonia region of
southern Argentina.
In 2011, through an extensive targeted exploration program,
Argentex is focusing primarily on advancing its
100%-controlled Pinguino project, located in Santa
Cruz province. An early 2011 drill program of approximately 17,000 meters is
underway at Pinguino, where Argentex
plans to drill test the extents of high-grade silver targets discovered in
2010. More than 15,000 meters of the proposed 17,000-meter program have been
completed to date.
The new discoveries being drill tested include the Tranquilo and Luna veins at Pinguino,
which returned high-grade results in previous drill programs, including 6.0
meters of over 2,428 g/t silver and 0.22 g/t gold and 6.4 meters of 486.6 g/t
silver and 1.91 g/t gold. More than 51 individual veins have so far been discovered
at Pinguino, with a combined strike length in excess
of 75 line-kilometers.
Argentex's 10,000-hectare Pinguino property is
located in Argentina's Patagonia region, within the Deseado
Massif of Santa Cruz province. Pinguino is easily
accessible, situated approximately 400 meters above sea level in low-relief
topography. An existing system of all-weather roads provides year-round access
to the property.
In total, Argentex owns 100% of
the mineral rights to more than 35 projects located within approximately
307,981 acres (124,636 hectares) of highly prospective land located in the
Santa Cruz and Rio Negro provinces of Argentina. Shares of Argentex
common stock trade under the symbol ATX on the TSX Venture Exchange and on the
OTCBB under the symbol AGXM.
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.
On behalf of Argentex Mining
Corporation:
�Ken E. Hicks�
President
For additional information please contact:
Peter A. Ball
Executive Vice President Corporate Development
Phone: 604-568-2496 or 1-888-227-5285
Email: peter@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 the company�s belief that recent high-grade
silver discoveries within newly tested structures of the district scale vein system
at Pinguino show potential for the development of a
significant silver resource and its plans to drill test the extents of
high-grade silver targets discovered in 2010. 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.