TORONTO, May 3, 2012 /CNW/ - Argentium Resources Inc. (CNSX: AOK, OTC: AGTMF) ("Argentium or company") is pleased to provide an update on ongoing exploration of its Sill Lake Property. The Sill Lake Property is composed of nine 100% controlled un-patented mining claims equivalent to 25 claim units, (416 ha). It is located about 52 kms north from Sault Ste. Marie, beneficially close to infrastructure and power.
Data compilation of the historical work indicates that there is a strong potential for the lead on the property to be low alpha. A report by J. Rae, P. Geo in 2005 states that a 100 pound sample from the Sill Lake Mine was sent to Teck Cominco to test for alpha lead potential. Samples are considered low alpha if values are less than 0.05 CPH. The samples taken from the Sill Lake Property assayed at <0.004 CPH.
Three samples were taken recently from the property to confirm the presence of mineralization (see release dated May 2nd, 2012). The assays indicated high grade silver with significant copper and zinc associated with the lead. These associations could lead to the potential for low alpha silver. Argentium has undertaken additional lead isotope testing and has confirmed presence of the low alpha isotope within samples from the main vein. Below are results from vein sampling:
|Pb 204||Pb 206||Pb 207||Pb 208|
The potential of the lead to be low alpha is very encouraging as this category of lead sells at a substantial premium compared to ordinary lead. Currently, the market value of standard lead is $0.93 CAD a pound whereas low Alpha lead can range in value from $25 to over $100 CAD per pound. This has the possibility to increase the value of the property substantially.
The "Alpha" of low Alpha refers to level of radiation strength. Low alpha lead is used by major computer chip manufacturers to avoid memory and logic soft errors. It is also widely used in the electronics industry as a solder for circuit boards. Estimated growth of this industry according to The World Semi-conductor Trades Statistics Organization for the global chip market states that in 2011 there was $314.4 billion dollars spent in the industry with a growth of 5.4% from the previous year. In 2012, $338.4 billion dollars are projected for a predicted growth of 7.64%, and projected for 2013 is $356.6 billion dollars gross for a growth of 5.4%.
As previously announced, the company is moving forward with plans for extensive channel sampling of the exposed vein to obtain fresh samples for low alpha testing. Currently the permitting processes are underway for dewatering of the shaft and for a bulk sampling program.
Assaying was completed by AGAT Laboratories Ltd. (Mississauga). The lead isotope assaying was done using a 4 acid digest followed by a standard Lead Isotopic Ratio Package. Isotope ratios are measured using mass spectrometry, which separates the different isotopes of an element on the basis of their mass-to-charge ratio.
Technical information in this news release has been reviewed by Ms. Lindsay Moss, P. Geo. and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. A 43-101 Technical Report on the Sill Lake property is available on the Company website.
Argentium Resources Inc. pursues silver mining exploration, development and production opportunities within North America and other international jurisdictions. Argentium's project pipeline consists of a balance of high-potential pre-feasibility and early stage exploration properties. The company's goal is to start generating cash flow with highly potential projects which can be used to finance further expansion of resources and exploration of other, untested, high-grade targets. Argentium is well-positioned for sustained growth and performance with a fundamental commitment to both sustainable growth for shareholders and to the environment. Please visit: www.argentiumresources.com
CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This news release contains "forward looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the US. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook. Such statements include, among others, those concerning the Company's anticipated operational plans, planned use of proceeds. Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management's expectations regarding its ab1ity to complete its development work as expected. Actual results could differ materially due to a number of factors, including, without limitation, operational risks in the completion of the Company's continued development work, technical, safety or regulatory issues. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company's securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
For further information:
John Carter, President