VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 26, 2013) - Argentum Silver Corp. (News - Market indicators) has received assay results from a recent trenching program on its 100% owned Coyote property in Jalisco, Mexico. Surface trenching has extended the main El Tajo vein for an additional 375 meters to the south along strike. Mineralization at the El Tajo vein remains open at depth and along strike to the south. The trenching also exposed 2 new zones on the La Valenciana vein, one over 350 metres in strikelength and a second over 600 metres in strikelength.
"The trenching results from the El Tajo vein added an additional 375 metres of strikelength to the 600 metres initially drill tested. Other veins on the balance of the property returned significant high grade silver values, which have yet to be drill tested." says, Warren McIntyre, President of Argentum.
Highlights of the trenching programs, where values exceeded 90 g/t Ag, were returned as follows;
| ZONE |
TRENCH
ID |
CHIP SAMPLE WIDTH
(m)* |
Ag
(g/t) |
Au
(g/t) |
| EL TAJO |
Z-56 |
1.4 |
120 |
0.38 |
| EL TAJO |
Z-58 |
1.2 |
190 |
0.10 |
| EL TAJO |
Z-59 |
0.7 |
199 |
0.12 |
| EL TAJO |
Z-112 |
0.6 |
170 |
0.08 |
| LA VALENCIANA |
Z-64 |
1.2 |
527 |
0.30 |
| LA VALENCIANA |
Z-65 |
4.5 |
97 |
0.13 |
| LA VALENCIANA |
Z-66 |
5.7 |
172 |
0.10 |
| LA VALENCIANA |
Z-70 |
2.2 |
132 |
0.28 |
| LA VALENCIANA |
Z-71 |
2.4 |
92 |
0.10 |
| LA VALENCIANA |
Z-89 |
0.8 |
141 |
0.12 |
| LA COLORADA |
Z-4 |
3.0 |
262 |
0.02 |
| LA COLORADA |
and |
1.5 |
424 |
0.00 |
| LA COLORADA |
Z-5 |
2.0 |
457 |
0.10 |
| FLORIDA |
Z-103 |
0.7 |
111 |
0.02 |
| FLORIDA |
Z-107 |
0.5 |
113 |
0.77 |
* True widths are estimated to be >95% of chip sample widths
The trenching program was successful in exposing and extending all of the principal silver zones. Sample location maps are available here.
The southern extension of the El Tajo Zone was identified in 13 trenches over a strikelength of 375 metres, and remains to be drill tested. These trenches displayed generally elevated silver results>10 g/t Ag, including Trenches Z-56 through 59 (tabled above), which contained better silver grade continuity along a 100 metre strike located at the end of the trend. This shows potential for a further extension to the south, with more trenching and sampling to be done prior to drill testing.
The presumed northern extension of the El Tajo Zone was prospected selectively, with 16 trenches over a 600 metre strikelength. Some veining was encountered where silver values range from 10 to 48 g/t Ag, but no significant mineralized widths were encountered. More trenching is required to follow up on the anomalous silver values returned to determine potential drill target areas.
The principal La Valenciana Zone was exposed by 13 trenches along a 350 metre strikelength, and returned consistent silver values above 30 g/t Ag, including those highlighted in the table above. A secondary sub-parallel vein in the La Valenciana Zone was exposed by 20 trenches over a 600 metre strikelength. This sub-parallel vein displayed consistent silver values above 10 g/t Ag. Argentum geologists believe surface assay values in the La Valenciana Zone to be in the upper horizon of the silver mineralized system, and that better grades may be encountered at depth.
The La Colorada Zone was prospected by 13 trenches along a 430 metre strikelength and identified multiple quartz zones and mineralized zones. Trenches Z-4 and Z-5 represent 90 metre lateral continuity of good silver grades.
Finally, the southern extension of the Florida Zone was exposed by 7 trenches over a 300 metre strikelength. All trenches returned values of >30 g/t Ag, including Z-103 and Z-107 tabled above.
An additional 31 trenches tested several peripheral and sub-parallel zones to those described above, with only limited success.
The objective of the trenching program was to identify lateral extensions to known mineralized silver zones with good grades and widths in order to define future drill target areas. A total of 113 trenches were excavated and chip sampled principally on the El Tajo, La Valenciana, La Colorada, Bocancha, and Florida Zones. Trenches were completed over a total 1,636 meters spaced roughly every 25 metres along strike over selective portions of zone projections. A full table of results is available on the Company's website.
"Argentum plans on following up prospecting by trenching and drill-testing newly identified zones and expansions of current zones," said Warren McIntyre, President of Argentum. "A total of seven zones and over seven kilometres of strike potential have been identified on surface. Only four zones have been drill tested, with the El Tajo vein being the main focus. The newly tested La Valenciana zone has shown early potential and requires further prospecting and drilling to confirm. The Company has the opportunity to quickly grow the potential of the Coyote Project".
Assaying of the chip samples 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 designed and supervised the program, and reviewed and approved the contents of this press release.
About the Coyote Silver Project
The 1,053 hectare Coyote property contains dozens of individual intermediate 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 1.0 to over 5.0 metres. Surface exposures of stockworking have been mapped and sampled over widths exceeding 35 metres.
The Coyote project is located near the town of Chilacayote, within the state of Jalisco, Mexico. Road access and infrastructure are excellent. The property is approximately 150 kilometres southwest of the capital city of Guadalajara, 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 holds 100% interest in the Coyote and Victoria properties located in Jalisco, Mexico, and the Lachiguiri and Silacayoapan properties located in Oaxaca, Mexico. 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
Argentum Silver Corp.
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.
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.