ARGEX'S WEST HERVIEUX TARGET DEMONSTRATE LARGE MINERIALIZED TITANIUM IRON AND VANDIUM RICH ZONE

  • Significant new results include:
    • 114.20 m of  0.43% V2O5, 64.45% Fe2O3 and 19.35% TiO2
    • 152.40 m of  0.42% V2O5,  64.18% Fe2O3 and 19.31% TiO2
    • 150.90 m of  0.43% V2O5,  61.91% Fe2O3 and 18.69% TiO2
    • 114.30 m of  0.44% V2O5,  64.24% Fe2O3 and 19.41% TiO2
  • Hole HW-10-043 intersected a new zone of mineralization 142.9m downhole which averaged  0.45% V2O5,  66.76% Fe2O3 and 20.05% TiO2 over 10.1 m

MONTREAL, April 1 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSX-V: RGX) (FSE: ASV) (OTCBB: ARGEF) reports additional final results intersected from drilling at the La Blache property, West Hervieux target. Results from the drilling is being included in a National Instrument 43-101 compliant technical report on the mineral resource estimate for the La Blache Project currently being completed by Met-Chem Canada Inc of Montreal Quebec.

Drilling on West Hervieux was carried out in two phases. Phase I consisted of holes HW-10-001 to HW-10-040, and Phase II consisted of holes HW-10-041 to HW-10-060. Selected results are available in Table 1 below. A complete list of results from West Hervieux is available at the end of this release in Table 2.

Table 1: Selected intersections from West Hervieux

HOLE # From
(m)
Length
along core
(m)
Fe % Ti % V % Fe2O3
%
TiO2
%
V2O5
%
*HW-10-001 7.5 161.25 42.62 11.04 0.27 61.86 18.29 0.48
*HW-10-007 10.0 121.50 43.34 11.16 0.27 61.96 18.61 0.48
*HW-10-029 4.6 105.40 43.34 10.70 0.28 61.92 17.85 0.50
*HW-10-031 4.0 107.00 44.99 11.68 0.29 64.33 19.48 0.52
HW-10-046 3.0 114.20 45.08 11.60 0.24 64.45 19.35 0.43
HW-10-050 68.1 152.40 44.89 11.57 0.24 64.18 19.31 0.42
HW-10-052 47.4 150.90 43.30 11.21 0.24 61.91 18.69 0.43
HW-10-059 29.9 114.30 44.94 11.64 0.25 64.24 19.41 0.44

*previously released, final assay

"We are excited to see the rather homogenous grades of mineralization with the titaniferous magnetite and ilmenite intersected in drilling at West Hervieux" comments Argex's president and CEO Michael Dehn. "With the wide intersections of mineralization often right at or near surface it should allow us excellent access for a bulk sample."

A drill plan of the holes, as well as cross sections can be viewed at:
http://www.argex.ca/la-blache_west_hervieux.php

On the La Blache Property, the first outcrops of titaniferous magnetite found in an anorthosite were discovered at Schmoo Lake in 1952 by Anglo-Canadian Pulp and Paper Mills Ltd., which later founded the Bersimis Mining Company. From 1951 to 1954, the Bersimis Mining Company performed airborne and ground dip-needle magnetic surveys, geological mapping, surface sampling and assaying, as well as metallurgical testing. Four iron lenses distributed over a distance of 15 kilometres were identified: West Hervieux, East Hervieux, Schmoo Lake and La Blache East. This was followed by twenty (20) exploration drill holes done in 1964 which showed several intersections of major strength containing more than 45% Fe and 15% TiO2.

In 2009, work carried out by Argex consisted of a helicopter-borne survey of the La Blache Property. This 418.5-line-kilometre survey conducted in November 2009 by Géophysics GPR International of Longueuil, Québec, consisted of a magnetic, electromagnetic (VLF) and spectrometric survey. Based on analysis of the survey results, Argex decided to carry out a diamond drilling program on the showings in the East Hervieux and West Hervieux.

On the West Hervieux showing, the helicopter-borne survey revealed a magnetic anomaly with a different shape. This anomaly is oriented north-south, and is 700 metres long by 400 metres wide. Magnetic highs aligned with the regional structure lie on either side. The electromagnetic survey did not reveal any conductors corresponding to the ilmenite mineralization. The holes were oriented toward the northwest or southeast, depending on the topography. Hole HW-10-043 was drilled toward the east to see whether the mineralization might extend under the lake, and Hole HW-10-039 was drilled at N230° to intersect the mineralized sections. The plunge was generally at -50°, with the exception of certain holes plunging at -70° or -87° to test for mineralization at depth.

A total of 20,294 metres were drilled on the La Blache Property, including 10,936 metres on East Hervieux and 9,358 metres on West Hervieux. The drilling campaign was aimed at confirming the historical values of the 1964 drilling campaign. The two mineralized zones on the La Blache Property are made up of massive titaniferous magnetite, black in colour, with a high density of around 4.5. Greenish, semi-massive zones are also found, likely consisting of serpentine. The host rock is an anorthosite containing over 90% labradorite crystals and/or gabbroic anorthosites richer in amphibolites and/or pyroxenes. The iron content ranges from 35% to 47% Fe, titanium from 7% to 12% Ti and vanadium from 0.17% to 0.30% V.

Results for East Hervieux will be out shortly once composite assays intersection calculations have been completed.

Argex also would like to thank Michael Curtis, who has resigned from the board of directors, for his past dedication to the company, and wish him success as he takes on new endeavors.

The drill program was planned and is being supervised by Jean-Sébastien Lavallée, P.Geo (OGQ #773), Consul-Teck Exploration Inc., of Val d'or, Québec, Argex's Mining Inc. consulting geologist and qualified person since 2007, as well as  reviewing and approving this release. The drilling is being completed by Major Drilling Group International Inc, with crews being based out of the Val d'or, Québec office Samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d'Or by employees of Consul-Teck Exploration Inc.  Chemex is the laboratory used for analysis of all samples from programs on the La Blache property.  The samples are weighed and identified prior to sample preparation.  The samples are crushed to 70% minus 2 mm, then separation and pulverized to 85% passing 75 μm.  All samples are analyzed using ICP-81 (Iron-Titanium) and using ME-XRF-10 for Vanadium.

About Argex

ARGEX MINING INC. is a transitioning from a titanium, iron and vanadium explorer to a development company with projects in Quebec, Canada. The Company is committed to its strategic plan of rapidly advancing towards profitable production at its 100% owned La Blache deposits located near Baie-Comeau, Quebec. For additional information please visit our website at www.argex.ca.

Forward-Looking Statements

This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

TABLE 2: All results are drill intersections along the length of the core and may not be representative of the true thickness. See the intersection and results table below (all results are final):

HOLE # From
(m)
Length
along core
(m)
Fe % Ti % V % Fe2O3
%
TiO2
%
V2O5
%
*HW-10-001 7.5 161.25 42.62 11.04 0.27 61.86 18.29 0.48
*HW-10-002 12 5.45 34.50 7.50 0.17 49.36 12.54 0.30
*HW-10-003 9.4 85.8 42.14 10.73 0.26 60.25 17.90 0.46
*HW-10-003 130.5 19.8 47.20 12.08 0.30 67.47 20.15 0.54
*HW-10-003 164.45 6.55 46.65 11.73 0.31 66.69 19.57 0.54
*HW-10-004 39.8 37.2 43.51 10.80 0.26 62.21 18.01 0.47
*HW-10-005 NSV
*HW-10-006 13 25.6 42.41 10.96 0.25 60.65 18.28 0.44
*HW-10-006 47.1 49.9 43.31 11.17 0.28 61.92 18.64 0.50
*HW-10-006 119.3 4.7 46.71 12.19 0.30 66.78 20.33 0.54
*HW-10-007 10 121.5 43.34 11.16 0.27 61.96 18.61 0.48
*HW-10-008 34.9 72 44.38 11.33 0.28 63.45 18.90 0.50
*HW-10-008 114.6 20.2 43.93 11.59 0.28 62.81 19.34 0.50
*HW-10-009 58.2 16.15 46.54 11.90 0.30 66.53 19.85 0.54
*HW-10-010 NSV
*HW-10-011 60.9 5.45 45.29 11.67 0.30 64.75 19.46 0.54
*HW-10-011 74 38.4 46.13 11.88 0.30 65.95 19.81 0.54
*HW-10-011 116.8 13.2 46.50 11.84 0.30 66.48 19.74 0.54
*HW-10-012 107.9 0.8 25.90 14.95 0.07 37.03 24.94 0.12
*HW-10-013 3.8 68 41.72 10.46 0.27 59.65 17.45 0.47
*HW-10-013 84.5 6.5 45.94 11.50 0.29 65.68 17.18 0.52
*HW-10-014 3 9.5 45.43 12.28 0.30 64.95 20.48 0.53
*HW-10-015 NSV
*HW-10-016 68.6 11.2 36.85 9.03 0.24 52.65 15.07 0.43
*HW-10-016 85.25 39.25 39.24 9.85 0.26 56.10 16.44 0.46
*HW-10-017 NSV
*HW-10-018 23.2 0.5 47.10 12.30 0.31 64.34 20.52 0.55
*HW-10-019 48.5 0.95 42.00 12.95 0.26 60.05 21.60 0.46
*HW-10-019 53.15 1.85 39.61 10.32 20.10 56.62 17.21 0.37
*HW-10-020 NSV
*HW-10-021 13.4 0.9 33.50 8.78 0.17 47.90 14.65 0.30
*HW-10-022 NSV
*HW-10-023 41.3 5.7 36.44 9.55 0.26 52.10 15.93 0.46
*HW-10-024 18.2 0.4 23.20 7.10 0.12 33.17 11.84 0.21
*HW-10-024 45.45 0.45 32.40 7.15 0.19 46.32 11.93 0.34
*HW-10-024 47.75 0.65 39.69 9.55 0.26 56.75 15.94 0.46
*HW-10-024 73.6 10.7 42.46 10.99 0.31 60.71 18.33 0.55
*HW-10-024 129.85 1.6 46.90 11.60 0.31 67.05 19.34 0.55
HW-10-025 21.6 1.4 30.00 8.39 0.15 42.89 14.00 0.27
HW-10-026 74 1.5 33.40 10.10 0.17 47.75 16.85 0.30
HW-10-027 NSV
HW-10-028 9.5 1.5 47.20 11.90 0.25 67.48 19.85 0.45
*HW-10-029 4.6 105.4 43.31 10.70 0.28 61.92 17.85 0.50
*HW-10-029 119.7 1.2 43.45 11.14 0.30 62.12 18.58 0.53
*HW-10-029 128.3 0.3 35.30 8.43 0.23 50.47 14.06 0.41
*HW-10-029 133.5 13.0 43.21 11.47 0.29 61.77 19.13 0.52
*HW-10-029 150.6 2.6 43.48 12.64 0.29 62.17 21.08 0.51
*HW-10-030 3.8 36.9 44.21 11.02 0.27 63.20 18.39 0.48
*HW-10-030 50.9 51.9 43.05 11.13 0.28 61.55 18.57 0.50
*HW-10-030 108.5 58.8 37.07 9.29 0.26 53.00 15.50 0.46
*HW-10-031 4 107.0 44.99 11.68 0.29 64.33 19.48 0.52
*HW-10-031 117 5.0 42.78 11.14 0.28 61.16 18.58 0.50
*HW-10-031 130 7.4 42.43 10.92 0.29 60.66 18.21 0.52
*HW-10-031 144 0.5 45.20 10.85 0.21 64.62 18.10 0.37
HW-10-032 NSV
HW-10-033 NSV
HW-10-034 4.3 55.7 45.77 11.89 0.23 65.44 19.83 0.41
HW-10-034 70.4 4.9 38.52 10.11 0.19 55.07 16.86 0.34
*HW-10-035 7 0.9 40.50 12.35 0.30 57.90 20.60 0.54
*HW-10-035 11.9 6.1 32.95 8.80 0.21 47.10 14.68 0.37
*HW-10-035 29.8 1.2 39.90 10.45 0.27 57.05 17.43 0.48
*HW-10-035 40.3 0.9 41.16 10.85 0.27 58.85 18.09 0.47
*HW-10-035 41.55 2.0 41.56 10.83 0.27 59.42 18.07 0.48
*HW-10-035 46.8 11.7 42.67 10.80 0.29 61.00 18.02 0.52
*HW-10-035 64.85 8.2 43.86 10.97 0.28 62.71 18.29 0.50
*HW-10-035 79.3 1.2 44.39 11.97 0.31 63.47 19.97 0.55
HW-10-036 17.6 81.2 42.64 10.79 0.21 60.96 18.00 0.38
*HW-10-037 NSV
*HW-10-038 NSV
*HW-10-039 53.5 5.2 25.58 6.79 0.16 36.57 11.32 0.29
*HW-10-039 127.1 67.1 41.76 10.83 0.27 59.70 18.07 0.48
*HW-10-040 NSV
*HW-10-041 NSV
HW-10-042 NSV
HW-10-043 142.9 10.1 46.70 12.02 0.25 66.76 20.05 0.45
HW-10-044 NSV
HW-10-045 72.3 9.1 41.32 11.11 0.22 59.07 18.53 0.39
HW-10-045 112.6 1.7 45.38 11.90 0.26 64.88 19.85 0.46
HW-10-045 119.5 1.4 46.31 12.38 0.25 66.21 20.64 0.45
HW-10-046 3 114.2 45.08 11.60 0.24 64.45 19.35 0.43
HW-10-046 137.7 9.7 44.91 11.47 0.24 64.20 19.13 0.43
HW-10-047 NSV
HW-10-048 NSV
HW-10-049 63.2 34 43.63 11.21 0.22 62.38 18.70 0.40
HW-10-049 108 88.3 45.70 11.69 0.25 65.33 19.51 0.44
HW-10-050 68.1 152.4 44.89 11.57 0.24 64.18 19.31 0.42
HW-10-051 71 52.8 39.26 10.25 0.20 56.12 17.10 0.36
HW-10-052 47.4 150.9 43.30 11.21 0.24 61.91 18.69 0.43
HW-10-053 54.9 89.1 42.37 10.94 0.22 60.58 18.25 0.39
HW-10-054 54 75.1 42.60 10.72 0.22 60.90 17.87 0.39
HW-10-054 151 48.7 46.63 11.75 0.26 66.67 19.60 0.47
HW-10-055 55.2 20.8 34.91 9.27 0.16 49.90 15.47 0.29
HW-10-056 41.9 154.9 32.48 8.39 0.18 46.43 13.99 0.32
HW-10-056 123.1 27.3 47.36 12.01 0.26 67.71 20.03 0.47
HW-10-057 69.8 71.2 46.11 11.84 0.24 65.93 19.76 0.43
HW-10-057 163.8 29.3 43.99 11.70 0.24 62.90 19.51 0.43
HW-10-058 216.9 2.1 42.48 11.18 0.21 60.73 18.65 0.37
HW-10-059 29.9 114.3 44.94 11.64 0.25 64.24 19.41 0.44
HW-10-059 178.1 20.0 42.98 10.69 0.24 61.45 17.84 0.43
HW-10-060 188.3 7.5 31.41 8.23 0.17 44.91 13.72 0.31

*previously released, final assay
NSV - No Significant Values

 

 

SOURCE ARGEX MINING INC.

For further information:

Michael Dehn, President and CEO
Argex Mining Inc
647-477-2382
michael@avantimac.com

Or

Paradox Public relations at 514-341-0408 or 1-866-460-0408

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