- 41 holes completed on West Hervieux Occurrence - 17 holes intersected Massive Titaniferous Magnetite - Wide drill hole intersections of 161.25m , 121.5m, 107.0m and 105.3m of Massive Titaniferous Magnetite - Massive Titaniferous Magnetite mineralization identified over a strike 600m - Argex plans to drill an additional 2000m at West Hervieux in 2010
MONTREAL, April 13 /CNW Telbec/ - Argex Silver Capital Inc. (TSX-V:RGX) (Argex or the Company) reports that the initial planned drilling at the La Blache property, West Hervieux occurrence has now been completed. This drilling has better defined the geometry and potential size of the West Hervieux Occurrence. Based on the holes drilled to date, an additional 2000m of drilling is expected to commence at West Hervieux once the 7000m East Hervieux drilling is completed. Massive Titaniferous Magnetite occurs over a strike length of 600m. The widest massive titaniferous magnetite intersections reported to date are 161.25 m in hole HW-10-001, 122 m in hole HW-10-007, 105.4 m in hole HW-10-029 and 107.0 m in hole HW-10-031. All results are drill intersections along the length of the core and may not be representative of the true thickness. A summary of drilling at Hervieux West is provided in the table below:
------------------------------------------------------------------------- Length along Hole Description of core length the mineralized HOLE No. From To (m) (m) intersection ------------------------------------------------------------------------- *HW-10-001 7.5 168.75 161.25 200 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-002 12 17.45 5.45 99 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-003 9.4 95.2 85.8 Massive Titaniferous Magnetite --------------------------------------- ------------------------ *HW-10-003 130.5 150.3 19.8 198 Massive Titaniferous Magnetite --------------------------------------- ------------------------ *HW-10-003 164.45 171 6.55 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-004 39.8 77 37.2 111 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-005 NSV 162 ------------------------------------------------------------------------- *HW-10-006 13 38.6 25.6 Massive Titaniferous Magnetite --------------------------------------- ------------------------ *HW-10-006 47.1 97 49.9 150 Massive Titaniferous Magnetite --------------------------------------- ------------------------ *HW-10-006 119.3 124 4.7 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-007 10 131.5 121.5 139 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-008 34.9 106.9 72 Massive Titaniferous Magnetite --------------------------------------- 144 ------------------------ *HW-10-008 114.6 134.8 20.2 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-009 58.2 74.35 16.15 99 Massive Titaniferous Magnetite ------------------------------------------------------------------------- *HW-10-010 NSV 150 ------------------------------------------------------------------------- HW-10-011 60.9 66.35 5.45 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-011 74 112.4 38.4 153 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-011 116.8 130 13.2 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-012 107.9 108.7 0.8 177 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-013 3.8 71.8 68 Massive Titaniferous Magnetite --------------------------------------- 111 ------------------------ HW-10-013 84.5 91 6.5 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-014 3 12.5 9.5 42 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-015 NSV 36 ------------------------------------------------------------------------- HW-10-016 68.6 79.8 11.2 Massive Titaniferous Magnetite --------------------------------------- 144 ------------------------ HW-10-016 85.25 124.5 39.25 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-017 NSV 126 ------------------------------------------------------------------------- HW-10-018 23.2 23.7 0.5 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-019 48.5 49.45 0.95 Massive Titaniferous Magnetite --------------------------------------- 150 ------------------------ HW-10-019 53.15 55 1.85 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-020 NSV 141 ------------------------------------------------------------------------- HW-10-021 13.4 14.3 0.9 141 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-022 NSV 150 ------------------------------------------------------------------------- HW-10-023 41.3 47 5.7 150 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-024 18.2 18.6 0.4 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-024 45.45 45.9 0.45 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-024 47.75 48.4 0.65 Massive Titaniferous 159 Magnetite --------------------------------------- ------------------------ HW-10-024 73.6 84.3 10.7 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-024 129.85 131.45 1.6 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-025 NSV 156 ------------------------------------------------------------------------- HW-10-026 74 75.5 1.5 153 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-027 NSV 198 ------------------------------------------------------------------------- HW-10-028 9.5 12.1 2.6 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-028 78.1 80.1 2 150 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-028 101.5 102.25 0.75 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-029 4.6 110 105.4 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-029 119.7 120.9 1.2 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-029 128.3 128.6 0.3 Massive Titaniferous 201 Magnetite --------------------------------------- ------------------------ HW-10-029 133.5 146.55 13.05 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-029 150.6 153.2 2.6 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-030 3.8 40.65 36.85 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-030 50.9 102.8 51.9 201 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-030 108.5 167.3 58.8 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-031 4 111 107 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-031 117 122 5 Massive Titaniferous Magnetite --------------------------------------- 156 ------------------------ HW-10-031 130 137.4 7.4 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-031 144 144.5 0.5 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-032 NSV 102 ------------------------------------------------------------------------- HW-10-033 NSV 69 ------------------------------------------------------------------------- HW-10-034 4.3 60 55.7 Massive Titaniferous Magnetite --------------------------------------- 200 ------------------------ HW-10-034 70.4 75.3 4.9 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-035 7 7.9 0.9 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 11.9 18 6.1 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 29.8 31 1.2 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 40.3 41.2 0.9 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 41.55 43.6 2.05 105 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 46.8 58.5 11.7 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 64.85 73 8.15 Massive Titaniferous Magnetite --------------------------------------- ------------------------ HW-10-035 79.3 80.5 1.2 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-036 17.6 98.8 81.2 151 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-037 NSV 41 ------------------------------------------------------------------------- HW-10-038 NSV 138 ------------------------------------------------------------------------- HW-10-039 53.5 58.7 5.2 Massive Titaniferous Magnetite --------------------------------------- 210 ------------------------ HW-10-039 127.1 194.2 67.1 Massive Titaniferous Magnetite ------------------------------------------------------------------------- HW-10-040 NSV 57 ------------------------------------------------------------------------- HW-10-041 NSV 90 ------------------------------------------------------------------------- *previously released
Argex is moving rapidly with drilling in order to complete a National Instrument 43-101 compliant technical report on the mineral resource estimate for the La Blache Project in 2010.
Complete results for the first 19 holes are expected to be available late next week and once results have been received by the Company, a drilling update with these results will be issued. A plan of the holes in this release will be available at www.argex.ca in the coming days.
On March 7, 2010 Argex announced that it is has engaged Process Research Ortech Inc. (PRO) to develop an effective and economically viable process for the recovery of titanium dioxide from its 100% owned La Blache deposit's ore.
PRO has extensive experience in titanium processing with several patents issued and pending. For its Canadian patent application on its proprietary mixed chloride technology to treat titanium containing ores to produce titanium dioxide, the patent allowance has been made. The process has been previously demonstrated for other titanium containing ores from Canada and overseas with an extraction efficiency in excess of 90% for both titanium and iron as well as production of over 99.8 % pure titanium dioxide.
On March 25, 2010 Argex announced that it has contracted Met-Chem Canada Inc. of Montreal, Quebec to complete a National Instrument 43-101 compliant technical report on the mineral resource estimate for the La Blache Project. The La Blache Project includes the West Hervieux, East Hervieux and Schmoo targets.
Met-Chem is an internationally renowned consulting engineering firm established in 1969 to provide all phases of geology, mining, mineral processing and engineering services throughout the world. From its headquarters in Montreal, Met-Chem offers the mining industry professional expertise that covers scoping, pre-feasibility and feasibility studies, basic and detailed engineering, procurement and construction management, training, start-up, commissioning and operations assistance.
The drill program was planned and is being supervised by Jean-Sebastien Lavallee, P.Geo(OGQ #773) since 2007, Consul-Teck Exploration Inc., of Val d'or, Québec, Argex's Silver Capital Inc. consulting geologist and qualified person, as well as reviewing and approving this release. The drilling is being completed Major Drilling Group International Inc, with crews being based out of the Val d'or, Quebec office Samples were sent for analysis in sealed containers to the Chemex laboratory in Val-d'Or by employees of the Company. Chemex is the laboratory used for analysis of all samples from programs on the LaBlache property. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70% minus 2 mm, then separation and pulverized to 85% passing 75 (micro)m. All samples are analyzed using ICP-81 (Iron-Titanium) and using ME-XRF-10 for Vanadium.
About Argex
Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Quebec, Canada. Headquartered in Montreal, Quebec, the Company is committed to the interests of its shareholders, with plans to rapidly advance towards titanium production at the 100% owned La Blache deposit located near Baie-Comeau, Quebec. For additional information please visit our website at www.argex.ca.
Forward-Looking Statements --------------------------
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Michael Dehn, President and CEO, Argex Silver Capital Inc, (647) 477-2382, [email protected]; Paradox Public relations, (514) 341-0408, 1-866-460-0408
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