VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 13, 2013) - Argentex Mining Corporation ("Argentex" or the "Company") (TSX VENTURE:ATX)(OTCQB:AGXMF) is pleased to announce that on September 12th the 2013 resource development drilling program commenced at its Pingüino silver-gold project in Santa Cruz province, Argentina.
The Company has engaged Major Perforaciones S.A., a division of Major Drilling Group International, to complete a 3,000 metre reverse circulation resource development program. The Company is focused on adding higher grade oxide material to the silver-gold mineral resource estimate, disclosed in its news release dated January 31, 2013. Additionally, up to 5,000 metres of trenching is underway to test vein extensions to surface.
"We are pleased commence this next phase of exploration at the Pingüino project. We have several higher grade targets to follow up from previous work and our goal is to delineate additional medium to high grade oxide material in known veins that is potentially is open pittable as we advance the project towards the next stage of development. Major Perforaciones, S.A, who have worked at the project, will undertake this next stage that will provide continuity to the program," commented Michael Brown, President and CEO of Argentex.
The Pingüino system has grown to 70+ individual veins, with a combined strike length approaching ~113 line-kilometres. The Pingüino project is unique within the Deseado Massif region of Santa Cruz province in that it contains two different and spatially distinct types of mineralisation, one precious metal and the other sulphide-rich polymetallic.
Technical content of this press release has been reviewed and approved by Michael Brown, MAIG, the President and CEO of Argentex Mining Corporation, and a Qualified Person as defined by National Instrument 43-101.
Argentex Mining Corporation is an exploration company focused on developing its advanced Pingüino silver-gold project located in Santa Cruz, Patagonia, Argentina. In total, Argentex owns 100% of 100,000+ hectares of highly prospective land located in the Santa Cruz and Rio Negro provinces. Shares of Argentex common stock trade under the symbol ATX on the TSX Venture Exchange and under the symbol AGXMF on the OTCQB. Neither 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.
On behalf of Argentex Mining Corporation:
Michael Brown, President and CEO
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include the scope of the proposed drill program, the Company's anticipation that it can add to the silver and gold resource at Pingüino and advance the Pingüino project, the possibility that any resources added from the proposed drill program would be suitable for an open pit operation. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, management's assumptions about the availability of the necessary consultants and capital and the risks inherent in Argentex's operations, including the risks that the Company may not find any minerals in commercially feasible quantity or raise enough money to fund its exploration plans. These and other risks are described in the Company's Annual Information Form and other public disclosure documents filed on the SEDAR website maintained by the Canadian Securities Administrators and the EDGAR website maintained by the Securities and Exchange Commission.