VANCOUVER, BRITISH COLUMBIA, Jun 11, 2012 (MARKETWIRE via COMTEX) — Argentum Silver Corp. /quotes/zigman/4040617 CA:ASL +10.00% (“Argentum” or the “Company”) is pleased to announce assay results from eight additional diamond drill holes recently completed on the El Tajo and Bocancha veins at its Coyote property, located in Jalisco state, Mexico.
Highlights include 5.2 metres of 438 g/t silver (Ag) from hole 2012-23, with a higher grade core of 2.0 metres grading at 899 g/t Ag. Hole 2012-22 also intersected a second, shallower vein grading 424 g/t Ag over 1.0 metres. Highlights of the El Tajo and Bocancha drill holes numbered are as follows:
FROM TO WIDTH SILVER GOLD LEAD ZINC
HOLE ID(i) VEIN (m) (m) (m)(ii) (g/t) (g/t) (%) (%)
2012-10 EL TAJO 106.0 107.0 1.0 142 0.33 0.21 0.61
2012-22 EL TAJO 22.8 23.8 1.0 424 0.21 0.38 0.08
2012-22 EL TAJO 87.0 89.8 2.8 266 0.60 0.33 1.29
2012-23 EL TAJO 72.0 72.6 0.6 303 0.66 0.12 0.11
2012-23 EL TAJO 84.5 89.7 5.2 438 0.18 0.35 0.33
including EL TAJO 86.8 88.8 2.0 899 0.17 0.44 0.48
2012-20 BOCANCHA 51.9 53.0 1.1 269 0.06 0.35 0.40
2012-20 BOCANCHA 67.5 70.5 3.0 51 0.05 0.19 0.24
(i) Drill holes 2012-15, 2012-16, 2012-21, 2012-24 did not intercept
significant assay values.
(ii) True widths are estimated to be roughly 70% of drill intercept length.
The positive results from the deep intercepts from holes 2012-10, 22 and 23 indicate the El Tajo vein has excellent potential for bonanza grades at significant depths. Highlights from the previously completed drill holes 2012-1 through 7 on the El Tajovein included an intercept of 2,745 g/t Ag over 2.0 metres on hole 2012-3 and 1.20 metres of 1,645 g/t Ag on hole 2012-7. To date, a total of 11 holes have been drilled on the El Tajo vein which test the strike length of the vein for more than 500 metres. Complete highlights from the previous seven drill holes are available in our news releases dated February 29, 2012 and March 6, 2012.
The 1,053 hectare Coyote property contains dozens of individual low sulfidation epithermal silver-gold veins and stockworkings. 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. Local areas of stockworking can exceed 35 metres wide. Over 100 historic workings and prospects explored and partially developed the district through the early 1900s. Historic production concentrated on “bonanza” silver grades with operational depth limitations to 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 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 owns a 100% interest in the Lachiguiri and Silacayoapan properties, all located in Oaxaca, Mexico, formally 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
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.
Argentum Silver Corp.
Director of Investor Relations