"We are pleased to add Peter to our senior management team," said Ken Hicks, President of Argentex. "Peter's diverse background and extensive knowledge of the mining industry on all fronts, coupled with his extensive investor relations and corporate development experience, industry contacts and proven track record, will play a key role as the Company continues to expand its excellent pipeline of advanced exploration assets and focuses to increase shareholder wealth."
Also on March 11, 2011 and pursuant to a written consulting agreement with Mr. Ball, Argentex has granted to Mr. Ball options to purchase 150,000 shares of its common stock at an exercise price of US$1.04, being the closing price (last sale of the day) on the OTC-BB on March 10, 2011. These options are for a term of three years from the date of grant, vesting quarterly in four equal installments, with the first installment vesting June 1, 2011.
Argentex Mining Corporation is an exploration company focused on the discovery of silver, gold and polymetallic deposits on its advanced late-stage exploration projects in the Patagonia region of southern Argentina.In 2011, through an extensive targeted exploration program, Argentex is currently advancing its highly prospective projects, specifically its 100% controlled Pinguino project, located in Santa Cruz province. An early 2011 drill program of approximately 17,000 meters is underway at Pinguino, where Argentex plans to drill test the extents of previously identified high-grade silver targets discovered in 2010. More than 6,300 meters of the proposed 17,000-meter program have so far been completed. The new discoveries being drill tested include the Tranquilo and Luna veins at Pinguino, which returned high-grade results in previous drill programs, including 6.0 meters of over 2,400 g/t silver and 0.22 g/t gold and 6.4 meters of 486.6 g/t silver and 1.91 g/t gold. More than 50 individual veins have so far been discovered at Pinguino, with a combined strike length in excess of 75 line kilometers. Only a small percentage of veins and potential targets have been drill tested in the 42,300 meters of drilling completed at Pinguino to date.