Vancouver, B.C., January 28, 2009 -- Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to provide an update on reconnaissance fieldwork completed at its Plata Leon property, which adjoins our Pinguino property to the northwest. Recently completed fieldwork has identified multiple gossanous outcrops at Plata Leon that appear to be similar to outcrops located at Pinguino which, when drilled to depth, were found to be deep-penetrating sulphide-rich polymetallic veins.
“Argentex continues to use effective, low-cost methods to expand the drill-defined polymetallic mineralization at the Pinguino deposit into adjacent areas along the Tranquilo Trend,” said Ken Hicks, President of Argentex. “Our early-stage exploration model at Pinguino suggested there might be a close association between the northwest-trending Tranquilo fault and local epithermal mineralization. This led us to acquire the 24,710-acre (10,000-hectare) Plata Leon property through staking. Our discovery of gossans and vein outcrops at Plata Leon supports our original exploration model and expands the overall potential. We believe that this gives us an even greater foothold in what is turning out to be a very prospective area.”
Follow-up exploration is currently being planned for the new veins discovered at Plata Leon. A total of 14 veins have been discovered in three areas. Two of those areas are located along the Tranquilo Trend and are associated with possible intrusions at depth. Both Plata Leon and Pinguino are located on the Tranquilo Trend, a major regional structural break that Argentex believes is an important factor in the formation of epithermal mineralization in the area. Argentex is the largest holder of mineral rights along the Tranquilo Trend.
Selected grab samples from Plata Leon have been collected and submitted for analysis. Analytical results are pending and further investigation is anticipated.
Quality Assurance
Samples selected for analysis are sent to Acme Analytical Laboratories’ sample preparation lab in Mendoza, Argentina. From there sample pulps are sent to Santiago, Chile for fire assay gold analysis and to Vancouver, Canada for Group 1DX multi-element MS-ICP analysis. Samples with over-limit zinc, lead, silver and/or copper are reanalyzed using an ore-grade high detection limit 7AR analysis, also conducted in Vancouver. Acme Analytical Laboratories is an accredited ISO 9000:2001 full-service commercial laboratory with its head office in Vancouver. Referee analyses will be carried out by Alex Stewart (assayers) Argentina S.A. in Mendoza, Argentina. Argentex, Acme and Alex Stewart all maintain comprehensive and independent Quality Control/Quality Assurance programs.
ABOUT ARGENTEX:
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. The company owns 100% mineral rights to more than 30 properties with over 377,490 acres (152,766 hectares) of prospective land located in the Santa Cruz and Rio Negro provinces of Argentina. Shares of Argentex common stock trade under the symbol AGXM on the OTCBB and on the TSX Venture Exchange under the symbol ATX.
Exploration on the Plata Leon property is being conducted under the supervision of Mr. Kenneth Hicks, P.Geo., Argentex's President and a "qualified person" as defined by Canada’s National Instrument 43-101. Mr. Hicks has read and approved the contents of this release.
FURTHER INFORMATION:
Ken Hicks, President
Argentex Mining Corporation
1-866-594-7687
[email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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 css/casts_of_future_results__estimates_of_amounts_not_yet_determined_and_assumptions_of_management._nbsp_pbkci28t7fyied0438tajq.css; Forward-looking statements in this news release include statements about the expectation that the gossanous outcrops located at Plata Leon are similar to those at Pinguino that, when drilled to depth, turned out to be sulphide-rich polymetallic veins; the company’s belief that there might be an association between the Tranquilo Trend and epithermal mineralization; that the discoveries at Plata Leon supports the company’s original exploration model and expands the overall potential, giving Argentex an even greater foothold in what is turning out to be a very prospective area.” 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, competition for qualified personnel and risks that are inherent in Argentex's operations including the risk that the Company may not find any minerals in commercially feasible quantity. These and other risks are described in the Company's Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.
