Argentex Drills 5.76 Meters Grading 675.7 g/t Ag and 5.99 g/t Au Within Oxide Zone at 100% Owned Pinguino Project, Argentina
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VANCOUVER, BRITISH COLUMBIA--(May 25, 2011) - Argentex Mining Corporation (TSX VENTURE:ATX) (OTCBB:AGXM) is pleased to release additional drill results from its 2011 exploration program, and to announce the expansion of that drill program. The Companys original plans for 2011 called for approximately 17,000 meters of drilling at its 100% owned Pinguino Project, in Santa Cruz, Argentina but positive results to date coupled with the receipt of additional funds from the exercise of approximately $1.6 million worth of share purchase warrants since January, 2011 have enabled the Company to expand the drill program to include up to an additional 2,500 meters of drilling.
Argentex has now completed 18,673 meters of drilling to-date in the 2011 program with a total of 201 holes. Results below are from the most recent 16 holes from the Marta Este, Marta Sur and Marta Centro veins:
Drill Hole
From
(m)
To
(m)
Interval
(m)*
Gold
(g/t)
Silver
g/t
Marta Este vein
P369-11
27.77
89.56
61.79
0.94
88.8
including
82.80
88.56
5.76
5.99
675.7
P370-11
94.10
149.40
55.30
0.10
11.3
including
94.10
97.10
3.00
0.46
63.7
and including
132.60
135.05
2.45
0.33
35.8
and including
147.00
149.40
2.40
0.60
61.8
Marta Sur vein
P371-11
37.20
55.00
17.80
1.14
38.8
including
37.20
38.80
1.60
6.03
10.5
and including
49.40
52.90
3.50
2.46
58.5
P372-11
43.30
49.00
5.70
0.02
22.2
Marta Centro vein
PR091-11
10.00
39.00
29.00
1.33
92.9
including
12.00
21.00
9.00
3.83
271.3
PR092-11
11.00
50.00
39.00
0.34
41.4
including
11.00
22.00
11.00
1.03
112.7
PR098-11
9.00
16.00
7.00
0.26
16.1
PR100-11
12.00
19.00
7.00
0.07
23.7
PR101-11
2.00
21.00
19.00
0.52
17.4
including
14.00
15.00
1.00
6.35
126.0
PR103-11
2.00
26.00
24.00
0.41
47.9
including
12.00
13.00
1.00
3.21
322.0
PR104-11
5.00
23.00
18.00
0.16
29.4
including
18.00
19.00
1.00
0.95
111.0
P375-11
307.40
322.40
15.00
0.51
34.1
including
315.00
317.40
2.40
2.74
101.4
P376-11
282.40
304.26
21.86
0.05
16.1
including
297.70
303.12
5.42
0.12
36.6
P377-11
24.15
86.80
62.65
0.13
21.4
including
24.15
36.80
12.65
0.33
63.0
and including
30.00
33.00
3.00
0.72
138.0
P386-11
63.45
77.45
14.00
0.08
19.8
including
75.45
77.45
2.00
0.39
60.7
P387-11
88.60
120.75
32.15
0.07
13.8
including
119.55
120.75
1.20
0.16
56.2
*True widths are estimated to be 85-90% of the stated interval
"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."
Results
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
In addition, between May 20 and May 24, 2011 one of the Companys investors exercised share purchase warrants pursuant to which it purchased 500,000 of the Companys common shares at an exercise
