Argentum Silver Intercepts 4.0 Metres of 1,470 g/t Silver Including 2.0 Metres of 2,745 g/t Silver at Coyote Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/29/12 -- Argentum Silver Corp. ('Argentum' or the 'Company') (TSX VENTURE: ASL) is pleased to announce assay results from the first four diamond drill holes completed on the El Tajo vein at its Coyote property, located in Jalisco, Mexico.
Highlights from holes number 2012-1 through 2012-4 include 4.0 metres of 1,470 g/t silver (Ag), including 2.0 metres of 2,745 g/t Ag from hole 2012-3. This high-grade intercept is part of a 7.0 metre wide zone where drilling encountered 0.80 metres of historic underground workings. Hole 2012-1 intercepted 6.10 metres of 128 g/t Ag. This second intercept is part of a 9.15 metre wide zone where the hole encountered 3.05 metres of historic underground workings. Intercept highlights are as follows:
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INTERCEPT
HOLE FROM TO WIDTH Silver Gold Lead Zinc
ID (m) (m) (m)(i) (g/t) (g/t) (%) (%)
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2012-1 75.70 81.80 6.10 128 0.21 0.07 0.12
81.80 84.85 3.05 old working were encountered - no sample
84.85 86.80 1.95 58 0.03 0.03 0.07
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2012-2 97.00 99.80 2.80 180 1.00 2.89 5.86
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2012-3 68.00 72.00 4.00 1470 0.57 0.69 1.15
Including 70.00 72.00 2.00 2745 0.83 1.27 2.13
72.00 72.80 0.80 old working were encountered - no sample
72.80 75.00 2.20 300 0.17 0.09 0.14
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2012-4 47.60 50.60 3.00 312 0.60 0.17 0.41
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(i) All intersections are reported as drilled widths.
The four angled drill holes totaled 284 metres and tested a 215 metre strike length of the El Tajo vein, intercepting the vein at depths ranging from about 45 to 95 metres vertically below surface. Five more holes are being drilled as part of the current program to test an additional 250 metres of the vein, bringing a total strike length of 465 metres being drill tested at the El Tajo vein. This first phase drill program will also test portions of three other mineralized zones within the property area, including La Florida, Bocancha and La Colorada. This drill program was initially planned for 19 holes totaling 2,000 metres. However, with these initial encouraging results, the Company is considering expanding the drill program.
The 1053-hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockworking. Most of the mineralization occurs within six defined zones within an area of approximately 1.5 x 2.6 kilometres. Vein widths typically range from 1 to over 5 metres. Zones of stockworking have locally been surfaced mapped over widths exceeding 35 metres. Over one hundred historic workings and prospects explored and partially developed the district through the early 1900s. Historic production concentrated on 'bonanza' silver grades with operational depths limited by the high water table.
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). Jim Robinson, C.P.G., the Company's Senior Geological Consultant and Advisor and a Qualified Person under National Instrument 43-101, has designed and supervised the program, and reviewed and approved the contents of this press release.
About the 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 an option to earn a 100% interest from Soltoro Ltd. in the Coyote silver-gold project and the Victoria property, each located in Jalisco, Mexico. Argentum also holds the right to acquire a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, under an option agreement with Arco Resources Corp. For further information, please go to www.argentumsilvercorp.com.
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.
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.
Ian Tootill
Director of Investor Relations
604.661.2110
604.909.1818 (FAX)
ian@argentumsilvercorp.com
www.argentumsilvercorp.com