Argentum Silver Intersects 2.90 metres of 449 g/t Silver and 1.44 g/t Gold at El Tajo Vein
November 14 2012 - 8:15AM
Marketwired Canada
Argentum Silver Corp. (TSX VENTURE:ASL) has now received results from the final
7 of 17 diamond drill holes recently completed on the 2,164 metre Phase II drill
program at its Coyote silver-gold property in Jalisco, Mexico. Four of the 7
holes explored the El Tajo vein while three explored the La Colorada vein to the
northwest of El Tajo.
Highlights from these 7 new drill holes include two El Tajo intercepts of 2.90
metres of 449 g/t silver (Ag) and 1.44 g/t gold (Au) from Hole 2012-42, and a
lower intercept from Hole 2102-36 of 3.70 metres of 179 g/t silver which was not
previously reported. Mineralized intercepts from these 7 holes are as follows:
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VEIN HOLE FROM TO WIDTH(1) Ag Au AgEQ(2)
ID (m) (m) (m) (g/t) (g/t) (g/t)
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Upper El
Tajo(2)(i) 2012-36 71.70 73.65 1.95 854 0.31 870
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El Tajo(i) 135.80 137.10 1.30 42 0.17 51
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El Tajo 144.00 147.70 3.70 179 0.05 182
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La Colorada 2012-37 130.95 131.35 0.40 85 0.01 86
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La Colorada 2012-38 56.45 60.85 4.40 66 0.04 68
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La Colorada 2012-39 58.00 60.10 2.10 30 0.03 32
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El Tajo 2012-40 114.65 115.65 1.00 85 0.46 109
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El Tajo 2012-41 117.00 118.20 1.20 31 0.06 34
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El Tajo 2012-42 85.50 88.40 2.90 449 1.44 524
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(1) True widths are estimated to be roughly 70% of drill intercept length.
(2) AgEQ = Silver Equivalent based on Au price of US$1756.1/oz and Ag price
of US$33.63/oz.
(i)Previously reported in our October 25, 2012 news release.
The El Tajo vein has been intercepted by drilling to depths ranging from 65 to
120 metres vertical from surface, over a strike length of 600 metres. El Tajo
drill intercepts to date range from 0.85 metres to 11.0 metres (11.0 metres of
288 g/t Ag from Hole 2012-28). Grades range from 31 g/t Ag to 1,470 g/t Ag (4.0
metres of 1,470 g/t Ag from Hole 2012-3). A separate sub parallel hanging wall
vein labeled Upper El Tajo 2 has been intercepted over a strikelength of 350
metres. Upper El Tajo 2 drill intercepts to date range from 0.35 metres to 2.5
metres (2.5 metres of 403 g/t Ag from Hole 2012-7). Grades range from 16 g/t Ag
to 1,083 g/t Ag (0.85 metres of 1,083 g/t Ag from Hole 2012-29).
"Phase 2 of our drill program pulled consistently good results from the El Tajo
vein, and the last few holes being reported here are no different. We are happy
with the results and once final interpretations are completed by our geological
team, we will be putting out a summary news release," said Warren McIntyre,
President of Argentum Silver.
The 1053-hectare Coyote property contains dozens of individual low sulfidation
epithermal silver-gold veins and stockworking. Most of the mineralization occurs
within seven defined zones within an area of approximately 1.5 x 2.6 kilometres.
Vein widths typically range from 1 to over 5 metres. Stockwork zones have
locally been mapped at surface where widths have exceeded 35 metres. Results
released from this drill program have only tested the El Tajo and La Colorada
historic mine areas.
Assaying from this program was completed by ALS Chemex through their office in
Guadalajara, Mexico. Analytical procedures include a 33 element ICP-AES analysis
(ME-ICP61m) and a 50 g FA AA finish for gold (AA-24). Silver assays exceeding
100 g/t are re-assayed by HCL leach with an ICP-AES or AAS finish (OG62). Paul
Cowley, P.Geo. and the Company's Senior Geological Consultant and Advisor, and a
Qualified Person under NI 43-101 has designed and supervised the program, and
reviewed and approved the contents of this press release.
About Coyote Property
The Coyote project is located near the town of Chilicayote, within the state of
Jalisco, Mexico. Road access and infrastructure are excellent. The property is
approximately 150 linear kilometres southwest of the capital city of
Guadalajara, and roughly a 3 1/2 hour drive. Topography is generally gentle to
moderate. A regional electrical power line crosses the property.
About Argentum Silver
Argentum has earned a 100% interest in the Coyote silver-gold project and
Victoria property located in Jalisco, Mexico. Argentum also owns a 100% interest
in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico.
On behalf of the Board of Directors of Argentum Silver Corp.
Warren McIntyre, President and Chief Executive Officer
Argentum Silver Corp.
This News Release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. Argentum relies upon litigation protection for forward-looking
statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Argentum Silver Corp.
Ian Tootill
Director of Investor Relations
604.661.2110
ian@argentumsilvercorp.com
www.argentumsilvercorp.com
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