A best-practices and increasingly stringent protocol for the collection, preparation and submission of rock samples for analysis was followed throughout the phases of exploration at Pinguino. All samples were analyzed by Acme Analytical Laboratories ("Acme Labs") except for the 2006 drilling of Phase 2 which were sent to Alex Stewart (Assayers), Argentina, S.A. The current analytical protocol, which was largely instituted in 2007 for the Phase V drilling, and which constitutes the bulk of the assay data that contributed to the resource model, begins with all field samples being submitted to Acme Labs' preparation laboratory in Mendoza, Argentina. From there, the sample pulps were sent to its laboratory in Vancouver for multi-element ICP-MS analysis (1DX procedure). Samples overlimit in silver, lead, zinc or copper were rerun by a high-detection limit ICP-ES procedure (Acme Labs code 7AR). Samples overlimit in silver from that procedure and, more recently, all gold assays greater than 300 ppb were rerun by fire assay (G6 procedure). Acme Labs is an accredited ISO 9000:2001 full-service commercial laboratory with its head office in Vancouver. Quality control was maintained by submitting field blanks and duplicates and by reviewing laboratory results of its own replicates, duplicates and analytical standards. The full QA/QC program was further evaluated by J.David Williams, P.Eng. and reviewed by MDA.
Argentex's 10,000-hectare advanced silver and gold exploration Pinguino project is located in Argentina's Patagonia region, within the Deseado Massif of Santa Cruz province. 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.
The Pinguino system has grown to 70+ individual veins, with a combined strike length approaching approx. 113 line-kilometers. The Pinguino project is unique within the Deseado Massif region of Santa Cruz province in that it contains two different and spatially distinct types of mineralization, one precious metal and the other sulphide-rich polymetallic. The Company continues to evaluate the geological model of sulphide-enriched potentially mineralized intrusives at depth, forming the probable source for the polymetallic veins exposed on surface.
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.
The mineral resource estimate was prepared by Steven Ristorcelli, C. P. G., Principal Geologist at Mine Development Associates in Reno, Nevada in accordance with NI 43-101, and he is an independent "Qualified Person" as defined by NI 43-101. Mr. S. Ristorcelli has approved the details of the resource estimate as contained herewith.
All other content of this press release has been reviewed and approved by Mr. J. David Williams, P. Eng., and he is an independent "Qualified Person" as defined by NI 43-101.
The Company expects a complete copy of the Report will be filed on SEDAR within 45 days of this press release.
Argentex Mining Corporation is an exploration company focused on advancing its Pinguino silver-gold project in Santa Cruz, Argentina. In total, Argentex owns 100% of the mineral rights to more than 35 properties located within approximately 307,981 acres (124,636 hectares) of highly prospective land located in the Santa Cruz and Rio Negro provinces.
Shares of Argentex common stock trade under the symbol ATX on the TSX Venture Exchange and under the symbol AGXMF on the OTCQB.
On behalf of Argentex Mining Corporation:
Michael Brown, President and CEO
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 those concerning management's belief that the Pinguino project contains a significant high-grade silver and gold resource, its confidence that it can continue to add high grade near surface mineral resources as it continues to drill the known vein systems, its view that polymetallic mineralization provides potential for additional economic upside, and its belief that there is significant scope for increasing the resource with additional drilling on other veins, with total metal silver-equivalent ounces that could range from four to eight million equivalent ounces, with silver grades ranging from 70 to 90 grams per tonne and gold grades ranging from one to two grams per tonne.
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, the availability of the Company's consultants and risks that are inherent in Argentex's operations including the risks that the Company may not find any minerals in commercially feasible quantity or raise enough money to fund its exploration plans. These and other risks are described in the Company's Annual Information Form and other public disclosure documents filed on the SEDAR website maintained by the Canadian Securities Administrators and the EDGAR website maintained by the Securities and Exchange Commission.
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.
Argentex Mining Corporation
Peter A. Ball
EVP Corporate Development
604-568-2496 (ext. 103) or 1-888-227-5285 (ext. 103)
(604) 568-1540 (FAX)
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