Argex aquires property to target additional vanadium, iron and titanium
- Acquired by staking 165 km2 property surrounding Consolidated Thompson Iron Mines Ltd.'s (CLM) Lac Brule Property - Drill core intersections from 2004 returned up to 23.09m (true width) of 59.72% Fe2O3 and 31.97 % TiO2
MONTREAL, June 21 /CNW Telbec/ - Argex Silver Capital Inc. (TSX-V:RGX) is pleased to announce that it has aquired by staking a 100% interest in the Lac Brule region, the Lac Brulé Property. The Lac Brulé region is underlain by the Labrieville anorthosite (˜1010 Ma), which is part of the allochtonous polycyclic belt of the Grenville geological province.
"The proximity of the newly staked Lac Brule Property to Argex's La Blache property is approximately 50 kms. In the Lac Brule region Fe2O3 grades appears to be slightly lower that at La Blache where in contrast TiO2 grades appears to be 150% of the grades at La Blache. Argex's Lac Brule property is approximately 600m away from the drilling reported by Quinto Technology Inc."
Drill Core results reported by Quinto Technology Inc. on the claims now owned by Consolidated Thompson Iron Mines Ltd. in the December 23, 2005 43-101 technical report entitled "GEOLOGICAL AND DRILLING PROGRAM REPORT LAC BRULÉ PROJECT" included:
------------------------------------------------------------------------- Hole TiO2 Fe2O3 Length True Number of No. (%) (%) (m) Thickness (m) Samples ------------------------------------------------------------------------- F04 01 32.04 55.71 24.92 22.69 9 ------------------------------------------------------------------------- F04 02 31.8 59.45 16.16 14.71 6 ------------------------------------------------------------------------- F04 03 31.94 61.99 15.84 14.41 6 ------------------------------------------------------------------------- F04 04 32.2 61.1 26.4 24.02 9 ------------------------------------------------------------------------- F04 05 31.8 59.39 12.27 11.17 4 ------------------------------------------------------------------------- F04 05 32.16 59.68 6.48 5.9 3 ------------------------------------------------------------------------- F04 06 28.95 54.91 10.16 9.25 4 ------------------------------------------------------------------------- F04 08 31.52 59.89 12.19 11.09 4 ------------------------------------------------------------------------- F04 08 32.76 61.72 5.6 5.1 2 ------------------------------------------------------------------------- F04 08 32.71 61.76 14.76 13.43 6 ------------------------------------------------------------------------- F04 09 31.86 59.26 5.04 4.59 2 ------------------------------------------------------------------------- F04 09 31.49 59.06 5.66 5.15 2 ------------------------------------------------------------------------- F04 10 31.97 59.72 25.37 23.09 10 ------------------------------------------------------------------------- F04 10 30.96 57.91 3.06 2.78 2 ------------------------------------------------------------------------- F04 11 33.42 57.52 7.3 6.64 3 ------------------------------------------------------------------------- F04 11 30.76 54.43 10.87 9.89 5 ------------------------------------------------------------------------- F04 11 32.04 59.37 4.93 4.49 3 ------------------------------------------------------------------------- F04 12 29.33 56.41 4.59 4.18 2 ------------------------------------------------------------------------- F04 12 28.86 55.78 2.7 2.46 2 -------------------------------------------------------------------------
Jean-Sébastien Lavallée, P.Geo (OGQ #773), Consul-Teck Exploration Inc., of Val d'or, Québec, Argex's Silver Capital Inc. consulting geologist and qualified person since 2007, has reviewed and approved this release.
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.
For further information: Michael Dehn, President and CEO, Argex Silver Capital Inc, 514-788-8923, [email protected]; Paradox Public relations, 514-341-0408, 1-866-460-0408
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