VANCOUVER, Jan. 28 /CNW/ - Argentex Mining Corporation (TSX-V: ATX,
OTCBB: AGXM) is pleased to provide an update on reconnaissance fieldwork
completed at its Plata Leon property, which adjoins our Pinguino property to
the northwest. Recently completed fieldwork has identified multiple gossanous
outcrops at Plata Leon that appear to be similar to outcrops located at
Pinguino which, when drilled to depth, were found to be deep-penetrating
sulphide-rich polymetallic veins.
"Argentex continues to use effective, low-cost methods to expand the
drill-defined polymetallic mineralization at the Pinguino deposit into
adjacent areas along the Tranquilo Trend," said Ken Hicks, President of
Argentex. "Our early-stage exploration model at Pinguino suggested there might
be a close association between the northwest-trending Tranquilo fault and
local epithermal mineralization. This led us to acquire the 24,710-acre
(10,000-hectare) Plata Leon property through staking. Our discovery of gossans
and vein outcrops at Plata Leon supports our original exploration model and
expands the overall potential. We believe that this gives us an even greater
foothold in what is turning out to be a very prospective area."
Follow-up exploration is currently being planned for the new veins
discovered at Plata Leon. A total of 14 veins have been discovered in three
areas. Two of those areas are located along the Tranquilo Trend and are
associated with possible intrusions at depth. Both Plata Leon and Pinguino are
located on the Tranquilo Trend, a major regional structural break that
Argentex believes is an important factor in the formation of epithermal
mineralization in the area. Argentex is the largest holder of mineral rights
along the Tranquilo Trend.
Selected grab samples from Plata Leon have been collected and submitted
for analysis. Analytical results are pending and further investigation is
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
Argentex Mining Corporation is a junior mining exploration company with
significant holdings in the Patagonia region of Argentina. The company owns
100% mineral rights to more than 30 properties with over 377,490 acres
(152,766 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 Plata Leon 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.
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 the expectation that the
gossanous outcrops located at Plata Leon are similar to those at Pinguino
that, when drilled to depth, turned out to be sulphide-rich polymetallic
veins; the company's belief that there might be an association between the
Tranquilo Trend and epithermal mineralization; that the discoveries at Plata
Leon supports the company's original exploration model and expands the overall
potential, giving Argentex an even greater foothold in what is turning out to
be a very prospective area." 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. These and other risks are described in the Company's Annual
Report on Form 10-K and other filings with the Securities and Exchange
For further information:
For further information: Ken Hicks, President, Argentex Mining
Corporation, 1-866-594-7687, firstname.lastname@example.org