MONTREAL, June 17 /CNW Telbec/ - Argex Silver Capital Inc. (TSX-V:RGX) is pleased to announce that it has hired Groupe BBA Inc.- one of Canada's leading firms of independent engineering professionals in the mining and metals sector - to help the Company in its preparations for the scoping study on its La Blache properties scheduled for year-end 2010. The scoping study should include an economic analysis of the potential viability of the mineral resources, which may include forecast mine production rates, capital costs to develop and sustain the mining operation, operating costs, and projected cash flows prior to the completion of a preliminary feasibility study.
"Preliminary lab work has been very positive," commented Michael Dehn, President and CEO of Argex. "Now we must choose from among the various proposed metallurgical processes the most efficient and economic technology available for the particulars of our deposit. We believe that in this way, significant value can be created for our shareholders."
The La Blache properties (wholly-owned by Argex) comprise three known lenses of massive titaniferous magnetite (Fe-Ti-V) mineralization: West Hervieux, East Hervieux and Schmoo Lake. A historic (non-compliant) estimate of the property is 79 million tons at 48% Fe, 20.5% TiO2, and 0.36% V2O5. The Company has announced previously that it had contracted Met-Chem Canada Inc. of Montreal, Quebec to complete a National Instrument 43-101 compliant technical report on the mineral resource estimate for the La Blache Properties, which is expected later this year.
Mr. Dehn added, "BBA's involvement will provide the marketplace with confidence backed by their highly respected and objective assessment that the metallurgical process chosen by the Company is the correct one for the suite of mineral products to be marketed by Argex and in order to maximize its long-term shareholder value".
Established in 1979, BBA is an independent Canadian consulting engineering firm with over 450 employees. BBA offers engineering services across Canada and around the globe with a high level of expertise, focusing on the mines, metals and energy sectors. From a project's definition to commissioning, BBA offers a complete range of multi-disciplinary engineering services including feasibility studies, management consulting, process/energy audits, detailed engineering, EPCM and start up assistance. The company is headquartered in Mont-Saint-Hilaire, Quebec and has offices in downtown Montreal and Vancouver. www.bba.ca.
Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Quebec, Canada. Headquartered in Montreal, Quebec, the Company is committed to the interests of its shareholders, with plans to rapidly advance towards titanium production at the 100% owned La Blache deposit located near Baie-Comeau, Quebec. For additional information please visit our website at www.argex.ca.
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.
SOURCE Argex Titanium Inc.
For further information: For further information: Michael Dehn, President and CEO, Argex Silver Capital Inc, 514-788-8923, firstname.lastname@example.org; Paradox Public relations, 514-341-0408, 1-866-460-0408