Argex Mining Inc. Further Increases Mouchalagane Property By Staking
08.02.2011 | CNW
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES- The property has increased to 328% of the original October 2009 size in order to cover additional iron formation targets identified from recently flown airborne survey
MONTREAL, Feb. 8 /CNW Telbec/ - Argex Mining Inc. (Argex) (TSX-V: RGX) (FSE: ASV) (OTCBB: ARGEF) has further increased the size of the Mouchalagane property by staking from an original 101 km2 to 332 km2. This staking was completed following interpretation of the recently reported airborne geophysical survey that identified a 40km long magnetic anomaly that corresponds with iron formations that have previously been mapped and from drilling on the property (press release dated January 24, 2011).
Argex continues to review the results of the recently completed airborne geophysical survey and will announce its future plans for the property shortly.
The iron-rich rocks of the Mouchalagane Property are part of the iron bearing rocks of the southern part of the Labrador Trough. A map that shows the extent of iron formations in the Labrador Trough as they continue in a southwesterly direction towards the Manicouagan Structure in proximity to the Mouchalagane property is available at www.argex.ca. The iron formations are of the Lake Superior type.
Maps of the airborne geophysics are now available at www.argex.ca.
The staking was completed by Consul-Teck Exploration Inc., of Val d'or, Québec.
Jean-Sébastien Lavallée, P.Geo (OGQ #773), Consul-Teck Exploration Inc., of Val d'or, Québec, Argex's Silver Capital Inc. consulting geologist and qualified person since 2007, has reviewed and approved this release.
About Argex Mining Inc.
Argex is a junior titanium, iron, vanadium and magnesium explorer with projects in Québec, Canada. Headquartered in Montreal, Québec with plans to rapidly advance towards titanium production at the 100%-owned La Blache deposit located near Baie-Comeau, Québec. Argex also owns 100% of the Mouchalagane Iron Ore project, 380 kilometres north of Baie-Comeau, Québec and of the same type of deposit as ore bodies currently being mined by Québec Cartier Mining's (Arcelor Mittal) Fire Lake Mine and Consolidated Thompson's Bloom Lake Mine. Recently, Argex expanded its land holdings near Baie-Comeau, Québec surrounding Consolidated Thompson's Lac Brûlé Titanium-Iron-Vanadium deposit. For additional information, please visit our website at www.argex.ca.
Forward-LookingStatements
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 Mining Inc.
647-477-2382
michael@argex.ca
www.argex.ca
Or
Paradox Public Relations at 514-341-0408 or 1-866-460-0408