The Tranquillo Trend, a northwest regional feature that crosscuts 11 km of Argentex Mining‘s (ATX-V, AGXM-O) Pinguino property in Patagonia, Argentina, contains wide intervals of high-grade silver, the company says.
Highlights from fourteen holes drilled on the Tranquillo Trend include 2.7 metres cutting 202.3 grams including 0.7metres of 429 grams silver and 4.8 metres of 82.9 grams silver silver in hole 303-10; 6.4 metres of 486.6 grams silver including 3.7 metres of 725.3 grams silver in hole 308-10; and 14.5 metres of 116.9 grams silver in hole 328-10.
So far Argentex has discovered 74 line km of veins at Pinguino, which the company says is the largest known undeveloped vein system in Santa Cruz province after AngloGold Ashanti’s (AU-N) Cerro Vanguardia mine.
Both of the vein systems fall within the Tranquillo regional fault, a major northwest structural corridor in central Santa Cruz. Argentex has drilled a total of 333 holes for a total of 33,559 meters at the project.
In addition to silver and associated gold values, Argentex reported 4.26% copper over 1.5 metres in hole 314 — the highest copper grade discovered there to date.
Argentex believes mineralization at Pinguino is “unique in the region” because it contains silver, indium, zinc, lead, and gold in multiple zones that remain open-ended along strike and to depth.
Beyond Pinguino, Argentex has grassroots properties in the Deseado Massif region of Santa Cruz province including Condor, a drill-ready epithermal silver-gold discovery about 100 km east of Pinguino, and Cerro Contreras, a gold discovery about 70 km north of Pinguino.
In Rio Negro province, Argentex holds mining rights to 12 properties totaling about 46,028 hectares. Preliminary work has identified epithermal veins and two separate gold discoveries in oxidized outcrops.
Argentex shares closed down 5¢ apiece or 6.3% at 74¢ a share.
Over the last 52 weeks the junior has traded in a range of 58¢-$1.12 and has 44.5 million shares outstanding.