News again -- more great drilling results
Argex provides second drilling update andresults
4/7/2010 11:50 AM - Canada NewsWire
MONTREAL,Apr 7, 2010 (Canada NewsWire via COMTEX News Network) --
<< - Intersection of up to 161m of massive titaniferousmagnetite - More than 6000 m completed - Current program stillplanned for 13,000 m of drilling >>
Argex SilverCapital Inc. (TSX-V:RGX) ("Argex" or the "Company") reports additionalpreliminary intersected titaniferous magnetite at the La Blacheproperty, West Hervieux occurrence. The widest massive titaniferousmagnetite intersections reported to date are 161.25 m in hole HW-10-001,122 m in hole HW-10-007 and 85.8 m in hole HW-10-003. All results aredrill intersections along the length of the core and may not berepresentative of the true thickness. See the intersection andpreliminary results table below (all results are preliminary other thanhole HW-10-001):
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Length Hole
HOLE along length
No. From To core (m) (m)
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*HW-10-001 7.5 168.75 161 200
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HW-10-002 12 17.45 5.45 99
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HW-10-003 9.4 95.2 85.8
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HW-10-003 130.5 150.3 19.8 198
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HW-10-003 164.45 171 6.55
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HW-10-004 39.8 77 37.2 111
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HW-10-005 NSV 162
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HW-10-006 13 38.6 25.6
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HW-10-006 47.1 97 50 150
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HW-10-006 119.3 124 5
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HW-10-007 10 131.5 122 139
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HW-10-008 34.85 106.9 72
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HW-10-008 114.6 134.8 20
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HW-10-009 58.2 74.35 16.15 99
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HW-10-010 NSV 150
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HOLE
No. Fe Ti V Fe2O3 TiO2 V5O2
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*HW-10-001 42.62 11.04 0.27 61.86 18.29 0.48
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HW-10-002 34.50 7.50 pending 49.36 12.54 pending
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HW-10-003 42.14 10.73 pending 60.25 17.90 pending
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HW-10-003 47.20 12.08 0.30 67.47 20.15 0.54
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HW-10-003 46.65 11.73 0.31 66.69 19.57 0.54
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HW-10-004 43.51 10.80 0.26 62.21 18.01 0.47
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HW-10-005 NSV NSV
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HW-10-006 42.41 10.96 pending 60.65 18.28 pending
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HW-10-006 43.31 11.17 pending 61.92 18.64 pending
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HW-10-006 46.71 12.19 pending 66.78 20.33 pending
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HW-10-007 43.34 11.16 0.27 61.96 18.61 0.48
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HW-10-008 Pending Pending
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HW-10-008 Pending Pending
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HW-10-009 Pending Pending
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HW-10-010 Pending Pending
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*previously released, final assay
NSV - No Significant Values
>>
Drilling on the La Blache Properties has now seen in excessof 41 holes totaling more than 6000 metres completed at the WestHervieux occurrence. A 7000m drill program is planned to commence on theEast Hervieux occurrence, located approximately 2 km east and 1.25 kmnorth of the West Hervieux Occurrence.
Samples for the first 19holes are currently out for analysis and once results have been receivedby the Company, a drilling update with these results will be issued.
Photosof the drill core for hole HW-10-001 can be viewed on the company'swebsite (www.argex.ca).
On April 6, 2010 Argex announced that itis has engaged Process Research Ortech Inc. (PRO) to develop aneffective and economically viable process for the recovery of titaniumdioxide from its 100% owned La Blache deposit's ore.
PRO hasextensive experience in titanium processing with several patents issuedand pending. For its Canadian patent application on its proprietarymixed chloride technology to treat titanium containing ores to producetitanium dioxide, the patent allowance has been made. The process hasbeen previously demonstrated for other titanium containing ores fromCanada and overseas with an extraction efficiency in excess of 90% forboth titanium and iron as well as production of over 99.8 % puretitanium dioxide.
On March 25, 2010 Argex announced that it hascontracted Met-Chem Canada Inc. of Montreal, Quebec to complete aNational Instrument 43-101 compliant technical report on the mineralresource estimate for the La Blache Project. The La Blache Projectincludes the West Hervieux, East Hervieux and Schmoo targets.
Met-Chemis an internationally renowned consulting engineering firm establishedin 1969 to provide all phases of geology, mining, mineral processing andengineering services throughout the world. From its headquarters inMontreal, Met-Chem offers the mining industry professional expertisethat covers scoping, pre-feasibility and feasibility studies, basic anddetailed engineering, procurement and construction management, training,start-up, commissioning and operations assistance.
Below isexerts from the December 4, 2008 NI 43-101 Technical Report covering theMouchalagane and La Blache Properties. This report is available forreview at www.sedar.com under the company profile for Argex SilverCapital Inc., and filed on April 15, 2009, as well as at www.argex.ca.
"In1954, three claim blocks held by the Bersimis Mining were visited bythe Ressources naturelles et de la Faune du Qu?bec (MNRFQ) (GM03107).The MRNFQ published a report and map jointly with Bersimis Mining thatlocated and described the East Hervieux and West Hervieux occurrences(RP374) revealing the presence of medium to coarse grained magnetite inanorthosite. According to estimates made by Bersimis Mining at the time"these deposits contained 135,000,000 tons of ore up to a depth of 300feet. It is reported that the average content of the ore is of 49percent iron and 21 percent of TiO2." This estimate is historical innature, non-compliant to NI 43-101 Mineral Resources and MineralReserves, and therefore should not be relied upon, but should only beconsidered as an indication of the iron-titanium mineral potential andnot necessarily indicative of the mineralization on the La BlacheProperty.
The drill program was planned and is being supervisedby Jean-S?bastien Lavall?e, P.Geo (OGQ #773), Consul-Teck ExplorationInc., of Val d'or, Qu?bec, Argex's Silver Capital Inc. consultinggeologist and qualified person since 2007, as well as reviewing andapproving this release. The drilling is being completed Major DrillingGroup International Inc, with crews being based out of the Val d'or,Qu?bec office Samples were sent for analysis in sealed containers to theChemex laboratory in Val-d'Or by employees of the Company. Chemex isthe laboratory used for analysis of all samples from programs on theLaBlache property. The samples are weighed and identified prior tosample preparation. The samples are crushed to 70% minus 2 mm, thenseparation and pulverized to 85% passing 75 (micro)m. All samples areanalyzed using ICP-81 (Iron-Titanium) and using ME-XRF-10 for Vanadium.
AboutArgex
Argex is a junior titanium, iron, vanadium and magnesiumexplorer 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 additionalinformation please visit our website at www.argex.ca.
<< Forward-Looking Statements -------------------------->>
This news release contains discussion of items thatmay constitute forward-looking statements within the meaning ofsecurities laws that involve risks and uncertainties. Although theCompany believes the expectations reflected in such forward-lookingstatements are based on reasonable assumptions, it can give noassurances that its expectations will be achieved. Factors that couldcause actual results to differ materially from expectations include theeffects of general economic conditions, actions by governmentauthorities, uncertainties associated with contract negotiations,additional financing requirements, market acceptance of the Company'sproducts and competitive pressures. These factors and others are morefully discussed in Company filings with Canadian securities regulatoryauthorities
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy ofthis release.
SOURCE: ARGEX SILVER CAPITAL INC.
MichaelDehn, President and CEO, Argex Silver Capital Inc, (647) 477-2382,michael@avantimac.com; Paradox Public relations, (514) 341-0408,1-866-460-0408
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