Argentex Mining, which has diligently put together an incredible portfolio of 100% mineral rights on over 35 gold and silver properties (just under 308k acres total, with Cerro Contreras, Condor, and Pinguino being the primary ones) in Argentina’s mineral-rich Santa Cruz and Rio Negro provinces, was happy to report that their 2013 resource development drilling program kicked off yesterday at the Pinguino project.
Pinguino hosts Ag-Au epithermal veins in structurally controlled quartz, as well as intrusive polymetallic (zinc-silver-indium-lead-gold) epithermal veins and there is a near-surface oxide zone that shows supergene sulfide, or secondary enrichment (164 feet deep on average). This is an advanced project with a whopping 216.5k plus feet of drilling to date in over 677 holes and we have an extensive NI 43-101 Technical Report (PDF) from this January detailing the upwards of 70 distinct, identified individual vein segments comprising a massive 70.2 line-mile strike length.
President and CEO of AGXMF, Michael Brown, emphasized the engagement of Major Drilling Group International division, Major Perforaciones S.A., who has worked at the project already and thus will represent logistical continuity, to complete the just under 9.8k feet of reverse circulation drilling slated for the resource development program. The primary target of the program will be the addition of the higher-grade oxide material to the extant silver-gold resource estimate, as disclosed in the Jan 31 report, a report which also featured juicy project highlights like the 23.6M oz of Ag (84% of the total resource) in the indicated category at a grade of 102.8 g/t with 0.59 g/t Au.
A secondary goal for the program will be some 16.4k feet of trenching designed to map and validate vein extensions to surface. Having regional heavyweight Major Perforaciones on hand to do this next phase of exploration will mean great success for AGXMF as they set out to delineate the medium-grade to high-grade oxide material and the fact that the veins are already identified means the probability that this thing could go open pit are higher than ever before.
To get a closer look at Argentex Mining, visit www.ArgentexMining.com
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