Business
Argentex: Management summary of mineral resource estimate and highlights of Pinguino project developments
Argentex: Management summary of mineral resource estimate and highlights of Pinguino project deve...
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\nSep. 28, 2009 (Canada NewsWire Group) -- VANCOUVER, Sept. 28 /CNW/ -- Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to summarize its recently completed mineral resource estimate with highlights from the core diamond drilling completed to date on its Pinguino property in Santa Cruz, Argentina.Pinguino Resource EstimateIn a recent press release (dated September 14, 2009), Argentex announced the completion of its first-ever National Instrument 43-101-compliant mineral resource estimate for Pinguino, its 100%-owned polymetallic property in Santa Cruz province, Argentina.At a cutoff grade of 1.6 oz/t silver equivalent, the mineral resource estimate includes:- 35.4 million tonnes at 4.0 oz/t silver equivalent (inferred category)and- 7.32 million tonnes at 5.5 oz/t silver equivalent (indicatedcategory)The silver equivalency calculation combines individual silver, gold, lead, zinc and indium grades at a specific cutoff grade and category into a single \"silver equivalent\" number. Argentex believes that this provides a simpler representation of the nine individual veins with differing mineralogy used in the recently completed mineral resource estimate at Pinguino. For additional details, please refer to the September 14, 2009, news release.Mineralization at Pinguino has a strong geophysical signature from its sulphide-rich mineralization within the vein itself (typically higher-grade material) as well as the wide envelope of disseminated and veinlet mineralization (typically lower-grade material) surrounding the veins. Nine veins of a total of 15 drill tested veins had sufficient density to be used in the mineral resource estimate. More than 47 veins have been mapped to date on the property and numerous geophysical targets remain to be tested.\"Our first mineral resource estimate was a significant milestone in our company's development as it confirms our confidence in Pinguino,\" said Ken Hicks, President of Argentex. \"Furthermore, we have many targets that remain untested and provide excellent exploration potential for new discoveries. We look forward to advancing Pinguino to the next level through a preliminary economic assessment and an aggressive exploration program to commence shortly.\"Silver and Gold Highlights\"Significant silver and gold drill intersections form part of the body of data that was used...