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Argentex files independent NI 43-101 mineral resource estimate for silver-zinc-indium Pinguino property, Argentina
Argentex files independent NI 43-101 mineral resource estimate for silver-zinc-indium Pinguino pr...
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\nOct. 29, 2009 (Canada NewsWire Group) -- VANCOUVER, Oct. 29 /CNW/ -- Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that the independent National Instrument 43-101 mineral resource estimate for Pinguino, the company's 100%-owned polymetallic property in Santa Cruz province, Argentina, has been filed on SEDAR (www.sedar.com). The announcement of the resource estimate was made in a news release issued on September 14, 2009.At a cutoff grade of 1.6 oz/t (50 g/t) silver equivalent, the mineral resource estimate includes:- 35.4 million tonnes at 4.0 oz/t (123.63 g/t) silver equivalent(inferred category) and- 7.32 million tonnes at 5.5 oz/t (169.64 g/t) silver equivalent(indicated category)\"Silver equivalent\" grades were calculated from a combination of individual silver, gold, zinc, lead and indium grades using a specific formula and metal pricing referred to in the September 14, 2009 news release.The report recommends a comprehensive two-phase exploration program, metallurgical testing and a preliminary economic assessment (scoping study). The 2009-2010 exploration program is recommended to include 15,000 meters (49,212 feet) of drilling, together with geological mapping, IP geophysics, soil geochemistry and regional airborne magnetometry. Drilling is targeted to test and expand near-surface oxidized silver and gold mineralization as well as the primary sulphide mineralization.\"We are excited about the potential of Patagonian Argentina and Santa Cruz province, which has recently attracted a great deal of attention for base and precious metal exploration projects,\" said Ken Hicks, President of Argentex. \"We recognized the geological similarities between epithermal gold occurrences in Nevada and the under-explored Deseado Massif of Santa Cruz early on and acquired a large number of high-quality grassroots properties. In the past five years, we have made a significant polymetallic discovery at Pinguino. As well, we have a pipeline of emerging silver-gold properties in Santa Cruz, including Condor and Cerro Contreras. These properties show good geological potential for low-sulphidation epithermal silver-gold type deposits. Our objective is to use our expertise and experience to continue to advance our highly prospective portfolio of mineral properties in Santa Cruz.\"About PinguinoArgentex's Pi...