santa cruz silver

Don't know if there is any nearology rub-off, but this company seems to be onto something -

Argentex Defines 23.6 Million Ounces Ag Eq. @ 132.4 g/t Ag Eq. Indicated Mineral Resource Estimate at Pingüino Silver-Gold Project

Vancouver, BC, Canada – January 31, 2013 - Argentex Mining Corporation ("Argentex" or the "Company") (TSX-V: ATX, OTCQB: AGXMF) is pleased to announce the preliminary results of a National Instrument (“NI”) 43-101 compliant Mineral Resource Estimate (the Report) by Mine Development Associates ("MDA") of Reno, Nevada for the Company’s 100%-owned Pingüino Silver-Gold Project, located in Santa Cruz province, Argentina.

"These results confirm management’s belief that the Pingüino Project contains a significant high-grade silver and gold resource in veins that outcrop at surface,” commented Mike Brown, President and CEO of Argentex. “With close to 84% of the resource falling into the Indicated category, we are accelerating internal engineering studies and completing initial metallurgical studies. Our decision to prepare a new Preliminary Economic Assessment based on this Report will depend upon the outcomes of these studies. Our immediate goal is to determine Pingüino’s economic potential as an open pit mining operation. We are confident that we can continue to add high grade near surface mineral resources as we continue to drill the known vein systems, although this is not an immediate priority.”

Highlights include:

23.6 million ounces of silver equivalent (84% of the total reported resource) in the Indicated category at a grade of 102.8g/t Ag and 0.59g/t Au
4.7 million ounces silver equivalent in the Inferred category at a grade of 58.0g/t Ag and 0.74g/t Au
Only eight of the 36 veins drill tested to date have been used to populate the resource model
60+ veins remain to be fully tested in vein structures that remain open in all directions
Mineralisation outcrops at surface, allowing the prospect for an open pit mine operation
Low elevation and excellent local infrastructure, including extensive road network, sea ports, and new power grid currently under construction proximal to site
Polymetallic mineralisation provides potential for additional economic upside