I want to thank you for taking the time to learn more about Argentex and our focus on the impressive mineral potential of Argentina's Patagonia region. We are very excited by the results of our recently released mineral resource estimate for our 100%-owned polymetallic Pinguino deposit located in Argentina's Santa Cruz province. In 2004 Argentex was a little-known junior exploration company that had acquired a large package of grassroots mineral exploration properties in Argentina. We had a dedicated team of professional geologists with some worthy geological theories but many naysayers were more than willing to share with us the industry axiom that "only one in 1,000 mineral properties ever becomes a mine." We raised the venture capital required to begin work on Pinguino, a property with compelling geological features that is situated within the Deseado Massif, an area with several operating precious-metal mines. Our team began methodically combining detailed mapping, geophysics, geochemistry and trenching data into a consistent geological model and then testing our model through drilling. This resulted in the discovery hole into the Pinguino silver-zinc-indium deposit, which was the first of its kind in the region. By August 2009, we had invested almost US$7 million in Pinguino, with more than 30,000 meters (98,500 feet) of diamond drilling, testing 15 of the 47 veins found on the property to date. The results of our first 43-101 mineral resource estimate were a significant milestone for the company. At a cutoff grade of 50 g/t (1.6 oz/t) silver equivalent, the mineral resource estimate includes: - 35.4 million tonnes at 123.63 g/t (4.0 oz/t) silver equivalent (inferred category) and
- 7.32 million tonnes at 169.64 g/t (5.5 oz/t) silver equivalent (indicated category)
Silver equivalency combines individual silver, gold, lead, zinc and indium grades at a specific cutoff grade and category into a single "silver equivalent" number. Additional details are available in our news release dated September 14, 2009. Our geological model was refined by our exploration results as well as academic research in our cooperation with Argentine geologists from La Plata University in Buenos Aires. Through our working association and cooperation with La Plata University, Argentex has become one of the largest employers of geological students in Ar www.argentexmining.com/presidentsmessage.php ----------- www.diesistkeineaufforderungzuirgendetwas.de
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