Welcome To The Argentex Mining Corp HUB On AGORACOM
Argentex Mining Corporation (TSX-V: ATX; OTCBB: AGXM)
Message: Argentex Drills 5.76 Meters Grading 675.7 g/t Ag and 5.99 g/t Au within oxide zo
|Marta Este vein|
|Marta Sur vein|
|Marta Centro vein|
"P" represents core holes, "PR" represents RC holes
"The discovery of high-grade silver and gold values within the near-surface oxide zone in the upper portions of mineralized veins, which we previously thought of as only primarily polymetallic mineralization, has opened up the precious metal potential of the entire property", commented Ken Hicks, President of Argentex. "We continue to expand this core of high grade mineralization. In many cases, this high grade mineralization is surrounded by a larger envelope of plus 1 gram gold-equivalent mineralization, which is also very promising. For these reasons, we have expanded our original drilling program to continue to test these zones further along strike and to depth."
The table above displays selected analytical results from a total of 16 reverse circulation and core holes; 2 holes from Marta Este, 2 holes from Marta Sur and 12 holes from Marta Centro. A map of drill hole collars is available on our web site at www.argentexmining.com.
In addition, between May 20 and May 24, 2011 one of the Company's investors exercised share purchase warrants pursuant to which it purchased 500,000 of the Company's common shares at an exercise price of $0.15 share for aggregate gross proceeds of $75,000 and two of its investors exercised share purchase warrants pursuant to which they purchased an aggregate of 70,000 of the Company's common shares at an exercise price of CDN$0.90 share for aggregate gross proceeds of approximately $64,400 (CDN$63,000).
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.
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.
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