Argentex Mining Corporation (TSXV:ATX,AGXM) has struck gold, literally. The company announced on July 15, 2010 that one of the holes drilled in their Pinguino-based Tranquilo Vein intersected a thick zone of oxidized vein breccia material containing 9.9 meters of 2.57 grams per tonne (g/t) gold and 34.5 g/t silver. This hole is located approximately 100 meters southeast of the 14.50-meter-long intersection of 116.9 g/t silver. The Pinguino property proves to be a fruitful location for drilling, as it boasts more than 47 veins and 74 kilometers of strike length. This allows for significant discoveries of Oxidized silver-gold, and it contributes oxidized precious metals as a near-surface resource.
"Drilling of the Tranquilo and Luna veins along Pinguino's Tranquilo Trend continues to expand near-surface gold and silver mineralization. The precious metal grades being returned in recent drilling are multiples higher than the average silver grades published in our first resource calculation," said Ken Hicks, President of Argentex. "This validates our stated goal to further explore and define the precious metal mineralization within Pinguino's property boundaries. These results continue to enhance the potential of our Pinguino project as we await the release of our scoping study in the coming weeks."
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