Argentex Mining shares begin trading on the TSX Venture Exchange under the symbol ATXadmin
Argentex Mining Corporation (TSX-V: ATX, OTCBB: AGXM) is pleased to announce that effective today, Monday, July 28, 2008, its common shares will begin trading on Canada’s TSX Venture Exchange (TSX-V) in addition to the company’s existing listings in the U.S. and Germany. The company’s shares will trade on the TSX-V under the symbol “ATX.”
In 2004 Argentex acquired a large package of prospective exploration properties in the Patagonia region of Argentina. The Pinguino property quickly became the focus of the company’s exploration efforts, which in early 2006 culminated in the discovery of a significant new polymetallic and precious metal occurrence. Since that initial discovery, numerous additional vein systems have been discovered, covering more than 60 kilometers (37 miles) in total strike length, using detailed geological mapping, soil geochemistry, magnetometry and IP geophysics. Diamond drill testing has been successfully carried out on more than eight major Pinguino veins identified to date, returning excellent intersections of mineralization.
“Argentex has made a significant new mineral discovery in the Patagonia region of Argentina. The impressive extent of mineralization at Pinguino together with the indium-enriched zinc-silver-lead chemistry make it a unique discovery in the region,” said Ken Hicks, President of Argentex. “Indium is a high-value strategic metal used in flat-panel LCD-plasma displays and leading-edge solar cell technology and markets for both applications continue to grow at impressive rates. Our discovery at Pinguino continues to attract the interest of numerous major mining and smelting companies. We intend to continue expanding our exploration activities and advancing our engineering studies at Pinguino, a flagship project where we see great future potential.”
Drilling at Pinguino has so far tested only a small portion of near-surface and deeper subsurface targets. Mineralization has been discovered in exposed surface trenches and drilled to a depth of 250 meters (820 feet) below surface. Results showed no change in the strength of sulphide composition with depth and the mineralizing system remains open at depth and along strike. Argentex has so far completed more than 20,000 meters (65,617 feet) of targeted diamond drilling during its 2007-2008 exploration season, for a total of more than 30,000 meters (98,425 feet) to date.
Pinguino displays two distinct styles of mineralization. The first is a northwest-trending structurally controlled epithermal precious metal vein system, with a low sulphide content and enriched in silver and gold. Pinguino also shows a second, distinct high-sulphide style, occasionally massive in sections and containing a suite of higher-temperature elements including tin and tungsten. Typically, massive sulphide mineralization is surrounded by a wide zone of disseminated sulphides. The host tuffs and continental sediments are some of the oldest and deepest rocks exposed in the Deseado Massif.
Within the last 12 months, Argentex has completed two rounds of financing to raise aggregate gross proceeds in excess of five million dollars. The company has used the net proceeds of these financings to advance exploration at Pinguino, to fund exploration of other Santa Cruz mineral properties and for general corporate purposes.
Argentex’s Pinguino property is located in Argentina’s Patagonia region, within the Deseado Massif of Santa Cruz province. The zinc-silver-indium-lead-gold-copper discovery at Pinguino in 2006 marked a major exploration milestone for the company. This was the first discovery of its kind in the region, unique in that it contains both silver-gold and indium-enriched base-metal mineralization. Since 2006, exploration of base-metal-rich targets has expanded to encompass more than eight mineralized zones, including Marta Centro, Yvonne, Yvonne Sur, Yvonne Norte, Sonia, Kasia, Savary and Luna veins, within an area of approximately 8.0 square kilometers (3.0 square miles).
Indium, a significant component of Argentex’s polymetallic discovery at Pinguino, is a high-value metal used in flat-panel (LCD, plasma) displays and in leading-edge thin-film solar cell technology.
Pinguino is easily accessible, situated approximately 400 meters (1,312 feet) above sea level in low-relief topography. An existing system of all-weather roads provides year-round access to the property.
Argentex Mining Corporation is a junior mining exploration company with significant holdings in the Patagonia region of Argentina. It owns 100% of the mineral rights to the Pinguino property and 100% mineral rights to more than 30 other mineral properties with over 377,490 acres (152,766 hectares) in the Santa Cruz and Rio Negro provinces of Argentina. Shares of Argentex common stock trade under the symbol AGXM on the OTCBB and, beginning July 28, 2008, trade on the TSX Venture Exchange under the symbol ATX.
Exploration on the Pinguino property is conducted under the supervision of Mr. Kenneth Hicks, P.Geo., Argentex’s President, a “qualified person” as defined by Canada’s NI 43-101. Mr. Hicks has read and approved the contents of this release.
Source: Argentex Mining Corporation