Argentum Silver Advised of 4-5 Million Ounce Silver Potential Open to Depth and Along Strike at the Coyote Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/13 -- Argentum Silver Corp. (TSX VENTURE: ASL) has received an independent study and evaluation on a 600 metre portion of the El Tajo vein at the Coyote Silver Project in Jalisco, Mexico. The report states a minimum target potential of between 482,000 and 876,000 tonnes at a cut-off grade between 50 and 20 grams per tonne, for a potential of between 4,000,000 and 5,000,000 ounces silver.
At the Coyote Project, the El Tajo Vein has been traced on surface over 1.1 Km. In 2012, the Company drill tested the high-grade El Tajo silver vein over a 600 metre strike length with 25 diamond drill holes for a total of 3,013 metres. The drilling was designed to demonstrate thickness and grade continuity along strike, with drill holes and section fences roughly 50 metres apart and a vertical distance of 140 meters. Results from the independent target deposit estimate prepared by GeoVector Management Inc. ("GeoVector") are as follows:
Target Deposit Calculations - El Tajo Vein - April 2013
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Potential Tonnage Cut-off Silver Grade Potential Silver
Range Grade Range Range Inventory
(tonnes) Ag (gpt) (gpt) (ounces)
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482 - 876 Thousand 20 to 50 67 - 95 4.0 to 5.0 Million
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Warren McIntyre, President of Argentum states: "Initial drilling demonstrates that the El Tajo vein at the Coyote Project hosts the potential for an underground high-grade silver deposit with minor gold and base metal credits. Further drilling is required to test the structure at depth and along strike. El Tajo represents one vein system on the Coyote property with 6 other vein systems totaling over 6.6 km of total strike length yet to be properly tested. This initial target deposit calculation provides Argentum with a solid base from which to build future resources."
Technical Analysis
Geo Vector of Nepean, Ontario was contracted to conduct an independent assessment of the deposit based on information from 25 diamond drill holes, drilled in 2012. The database includes drill hole locations, whole orientations, lengths and survey data, down-hole lithology information and assay data from ALS Chemex, for the 25 holes.
Geo Vector calculated a range of potential target deposits estimates, to reflect multiple mining scenarios. These ranges were calculated using 20-50 g/t Ag cut-off grades for the "bulk" modeled scenario, and 50-150 g/t for the "high grade" modeled scenario. In the bulk modeled and high grade modeled scenarios and minimum width of 4.5 metres to 3.0 metres were used respectively.
The independent report concluded that "To further test El Tajo's potential it is suggested that Argentum should carry out a program of aggressive drilling, looking +/- 100m down dip below current drilling, and on 100 meter sections extending along strike in both the northeast and southwest directions. Argentum has excellent potential to increase its high grade tonnage base, both down dip and along strike. It is conceivable, based on current drilling and the mineralized trend indicated on Argentum's map that expansion drilling could bring the total El Tajo mineralized structure to approximately 1.0 km long and to a depth of 250 metres."
The reader should be cautioned that the potential quantities and grades reflected above and in the target deposit potential table are conceptual in nature, that there has been insufficient exploration to define mineral resources and that it is uncertain if further exploration will result in the target being delineated as a mineral resource.
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.
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.
Neither 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.
Contacts:
Argentum Silver Corp.
Warren McIntyre
President and CEO
778.383.1828
warren@argentumsilvercorp.com
www.argentumsilvercorp.com