New
Argentex silver-indium-zinc-lead drill results and overlimits further expand
mineralization in four zones at Pinguino
Vancouver,
B.C., February 19, 2009 -- Argentex Mining Corporation (TSX-V: ATX, OTCBB:
AGXM) is pleased to announce additional drill results from the 2008 program at
Pinguino, the company?s polymetallic property in Santa Cruz, Argentina.
The latest findings include overlimit analytical results, which
significantly expand previously published intervals. New intervals
include an 8.6-meter (28.2-foot) intersection at Marta Este that returned 164.7
grams per tonne (g/t) silver, 6.23% combined lead-zinc and 3.9 g/t
indium. Hole P163 at Marta Centro returned 13.52 meters (44.36 feet) of
50.6 g/t silver, 9.52% combined lead-zinc and 46.4 g/t indium.
Both the overlimits
and the new results expand intervals of mineralization in their respective
zones.
Results
Table 1 shows the
expansion of mineralization in two previously published drill holes (see press
release dated September 25, 2008) at Marta Norte and Yvonne Sur.
Overlimit analytical results have been incorporated.
Table 1
Drill
Hole
|
From
(m)
|
To
(m)
|
Length (m)*
|
Indium
(g/t)
|
Gold (g/t)
|
Silver (g/t)
|
Lead (%)
|
Zinc (%)
|
AREA:
MARTA NORTE
|
*Previously
published results
|
*P183-08
|
85.00
|
86.50
|
1.50
|
0.0
|
0.62
|
554.8
|
1.71
|
1.58
|
New results,
incorporating overlimits
|
P183-08
|
85.00
|
93.10
|
8.10
|
0.0
|
0.38
|
178.1
|
0.70
|
0.70
|
and
|
P183-08
|
114.70
|
115.75
|
1.05
|
0.5
|
0.09
|
151.2
|
1.01
|
5.79
|
AREA:
YVONNE SUR
|
*Previously
published results
|
*P200
|
69.84
|
82.33
|
12.49
|
31
|
0.25
|
119.7
|
6.1
|
7.4
|
including
|
*P200
|
77.23
|
81.28
|
4.05
|
24
|
0.28
|
237.0
|
12.3
|
14.1
|
and
|
*P200
|
89.05
|
97.00
|
7.95
|
5
|
0.04
|
10.5
|
0.5
|
1.4
|
New results,
incorporating overlimits
|
P200-08
|
38.63
|
109.98
|
71.35
|
15
|
0.12
|
38.2
|
1.72
|
2.97
|
including
|
P200-08
|
38.63
|
52.90
|
14.27
|
34
|
0.26
|
41.5
|
1.43
|
4.07
|
Table
2 outlines new mineralized intervals from eight 2007-2008 drill holes. These
holes from Marta Centro, Marta Este, and Marta Norte are being disclosed for
the first time.
Table
2
Drill
Hole
|
From
(m)
|
To
(m)
|
Length (m)*
|
Indium
(g/t)
|
Gold (g/t)
|
Silver (g/t)
|
Lead (%)
|
Zinc (%)
|
AREA: MARTA CENTRO
|
P163-08
|
208.80
|
222.32
|
13.52
|
46.4
|
0.35
|
50.6
|
1.61
|
7.91
|
P167-08
|
195.30
|
206.35
|
11.05
|
51.3
|
0.28
|
44.3
|
1.06
|
5.13
|
AREA:
MARTA NORTE
|
P174-08
|
71.10
|
75.10
|
4.00
|
0.0
|
0.21
|
403.7
|
0.99
|
0.47
|
P176-08
|
67.90
|
71.50
|
3.60
|
0.0
|
0.75
|
245.5
|
2.07
|
0.26
|
P177-08
|
87.05
|
88.15
|
1.10
|
0.0
|
0.86
|
529.0
|
0.00
|
0.62
|
P178-08
|
77.35
|
80.20
|
2.85
|
0.0
|
0.20
|
274.3
|
0.14
|
0.17
|
AREA:
MARTA ESTE
|
P208-08
|
104.32
|
112.95
|
8.63
|
3.9
|
0.55
|
164.7
|
1.14
|
5.09
|
P209-08
|
145.50
|
150.00
|
4.50
|
7.7
|
0.35
|
168.4
|
0.60
|
4.98
|
*True widths are estimated to be 85-90% of
the stated core length
Argentex has drilled
269 holes at Pinguino, testing 15
epithermal veins in the process, for a total of 30,000+ meters (98,000
feet). The robust mineralized system remains open in all
directions. Following receipt of all remaining analytical results and
interpretation, Argentex anticipates completing its first-ever National
Instrument 43-101-compliant resource calculation for Pinguino during the
current year.
During the 2007-2008
exploration program, Argentex completed approximately 20,782.9 meters (68,185
feet) of HQ diamond drilling at Pinguino using two independent drill
contractors. A total of 15 base-metal and precious-metal veins were
tested in 151 new HQ diamond drill holes. Approximately 7,000 core
samples have been collected and submitted to Acme Analytical Laboratories for
analysis. Overlimit analyses of zinc, lead and silver are pending.
Additional results will be reported upon receipt and compilation.
About Pinguino
Argentex?s Pinguino
property is located in Argentina?s
Patagonia region, within the Deseado Massif of Santa
Cruz province. The silver-indium-zinc-lead-gold
discovery at Pinguino in 2006 marked a major exploration milestone for the
company. This was the first discovery of its kind in the region, unique
in that it contains both silver-gold and indium-enriched base-metal mineralization.
This mineralization is contained in multiple zones that remain open-ended along
strike and to depth. Since 2006, exploration of base-metal-rich targets
has expanded beyond discoveries at Marta Centro and Yvonne and now encompasses
15 drill-tested veins from more than 35 veins mapped on the property to date.
Indium, a significant
component of Argentex?s polymetallic discovery at Pinguino, is a high-value
metal used in flat-panel (LCD, plasma) displays, and in leading-edge thin-film
solar cell technology.
Pinguino is easily
accessible, situated approximately 400 meters (1,312 feet) above sea level in
low-relief topography. An existing system of all-weather roads provides
year-round access to the property.
Quality Assurance
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. Drilling in 2008 was
conducted by Boart Longyear Connors Argentina S.A. and Major Perforaciones SA.
ABOUT ARGENTEX:
Argentex
Mining Corporation is a junior mining exploration company with significant
holdings in the Patagonia region of Argentina.
It holds an undivided 100% interest in the mineral rights to the Pinguino
property. In total, the company owns 100% mineral rights to more than 40
properties with approximately 405,987 acres (163,477 hectares) of prospective
land located in the Santa Cruz and Rio Negro
provinces of Argentina.
Shares of Argentex common stock trade under the symbol AGXM on the OTCBB and on
the TSX Venture Exchange under the symbol ATX.
Exploration on the
Pinguino property is being conducted under the supervision of Mr. Kenneth
Hicks, P.Geo., Argentex's President and a "qualified person" as
defined by Canada?s
National Instrument 43-101. Mr. Hicks has read and approved the contents
of this release.
FURTHER INFORMATION:
Ken Hicks,
President
Argentex
Mining Corporation
1-866-594-7687
info@argentexmining.com
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this news release.
Statements in this
news release that are not historical facts are forward-looking statements that
are subject to risks and uncertainties. Words such as ?expects?,
?intends?, ?plans?, ?may?, ?could?, ?should?, ?anticipates?, ?likely?,
?believes? and words of similar import also identify forward-looking
statements. Forward-looking statements are based on current facts and analysis
and on forecasts of future results, estimates of
amounts not yet determined and assumptions of management. Forward-looking
statements in this news release include statements about: Following
receipt of all remaining analytical results and interpretation, Argentex
anticipates completing its first-ever National Instrument 43-101-compliant
resource calculation for Pinguino during the current year. Actual results may differ materially from those currently
anticipated due to a number of factors beyond the Company?s
control. These risks and uncertainties include, among other things,
competition for qualified personnel and risks that are inherent in Argentex's
operations including the risk that the Company may not find any minerals in
commercially feasible quantity or raise funds sufficient to prosecute its
exploration plans. These and other risks are described in the Company's
Annual Report on Form 10-K and other filings with the Securities and Exchange
Commission.