Business
Argentex updates shareholders on anticipated IFC investment, Pinguino drill results and scoping study
Argentex updates shareholders on anticipated IFC investment, Pinguino drill results and scoping s...
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\n Sep. 10, 2010 (Canada NewsWire Group) -- \n\nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nVANCOUVER, Sept. 10 /CNW/ - Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to provide an update on activities, including the anticipated private placement by IFC.\n\nIFC\n\nArgentex continues to work with IFC, a member of the World Bank Group, towards an investment in Argentex, on terms and conditions to be mutually agreed.\n"We anticipate that an investment by IFC will help us achieve significant additional progress at Pinguino and help us enhance our presence in Argentina through new exploration discoveries, positive engineering developments and community involvement," said Ken Hicks, President of Argentex. "IFC's group of experts and specialists provide a wealth of experience that we believe will be invaluable to the long-term growth of our company and the project."\n\nDrill Results\n\nAdditional analytical results from the diamond drilling program at Pinguino's Luna and Tranquilo precious metal veins have been received from Acme Analytical labs. The raw data is being compiled and interpreted by geological staff in Argentina, which enables the company to provide an overview of results for investors. Argentex expects to complete interpretation and provide a summary of these remaining results in the coming days.\n\nPinguino scoping study\n\nArgentex's management and directors are reviewing the geological, engineering and economic data recently compiled by its independent engineering firm on the Pinguino project. These will define the base case and alternatives for the preliminary economic assessment, which is nearing completion. The company looks forward to providing summarized results in a news release later this month and it plans to file a complete technical report on SEDAR within 45 days of publication of the news release reporting the summarized results.\n\nAbout IFC\n\nIFC, a member of the World Bank Group, is the largest global devel...