| In less than three years, Argentex has advanced Pinguino from a raw prospect to a drill-tested mineralized system with both base metal and precious metal mineralization as well as excellent potential for expansion. During this period, Argentex has discovered a new zinc-lead-silver-copper vein massive sulphide system with wide intervals of anomalous base metal, precious metal and indium mineralization. We believe this is the first discovery of its kind in Patagonia. |
Mineralization on the Pinguino property was first discovered by a major mining company in the mid-1990s. Reconnaissance-level exploration was carried out at Pinguino in 1996 and 1997, but a decision was made to divest the property in 1998. At that time, the price of gold averaged US$290 per ounce and silver averaged US$5.75 per ounce. Since then, commodity prices of gold, silver, zinc, lead, indium and copper have increased significantly. Argentex is the first exploration company to conduct a comprehensive work program on the property since 1998.
