Montréal, Québec (FSCwire) - Argex Titanium Inc. (TSX:RGX) (“Argex” or the “Corporation”) is pleased to announce new results from its exploration campaign of 2017/ 2018 at its 100% owned Lac Brûlé property, located 64 km from Labrieville, north of the Forestville on Quebec’s North Shore (see map). The 636 metres drill program targeted the southern extension of a hemo-ilmenite massive lens in the Block A area, immediately east of Lac Lise on the Lac Brûlé property (see map and core sample).  Eleven of the twelve diamond drill holes (DDH) intercepted massive hemo-ilmenite lenses with significant assays results.

 

Highlights from the new results in Block A southern extension include:

 

• 35.8% TiO₂ and 0.37% V₂O₅ over 28.2 metres from DDH LB-18-32;
• 35.02% TiO₂ and 0.37% V₂O₅ over 20.7 metres from DDH LB-18-26

 

“We are very impressed by these results. In the context of increasing ilmenite feedstock prices around the world, the Lac Brûlé property warrants further exploration. The vanadium assay results on this discovery at Lac Brûlé property are also very interesting since the Argex process could refine vanadium and we could sell it as a by-product. In these drill results assays, the new lenses indicate interesting vanadium grade,” said Mazen Alnaimi, Chairman and CEO of Argex Titanium.

 

Table of Results

Hole Id	From (m)	To (m)	Interval (m)*	Fe2O3 %	TiO2%	Ti %	V2O5%	V%	Lens Id
LB-18-23	4.50	11.40	6.90	58.13	35.56	21.32	0.373	0.209	Lens 1
LB-18-24	2.00	18.93	16.93	54.73	33.52	20.10	0.345	0.194	Lens 1
LB-18-25	12.95	25.65	12.70	57.84	35.41	21.23	0.370	0.207	Lens 1
LB-18-26	28.78	49.52	20.74	58.59	35.02	20.99	0.369	0.207	Lens 1
LB-18-27	3.30	6.76	3.46	25.37	14.77	8.85	0.154	0.086	Lens 2
LB-18-27	25.88	43.10	17.22	58.05	34.71	20.81	0.366	0.205	Lens 1
LB-18-28	5.50	15.25	9.75	57.16	34.05	20.41	0.359	0.201	Lens 2
LB-18-28	18.46	36.81	18.35	58.31	35.07	21.03	0.368	0.206	Lens 1
LB-18-30	12.65	29.00	16.35	58.08	35.49	21.28	0.368	0.206	Lens 1
LB-18-31	20.77	43.20	22.43	56.97	34.03	20.40	0.361	0.202	Lens 1
LB-18-32	3.00	13.50	10.50	51.00	30.97	18.57	0.317	0.177	Lens 2
LB-18-32	30.90	59.12	28.22	58.16	35.80	21.47	0.370	0.207	Lens 1
LB-18-33	34.00	50.30	16.30	58.27	35.23	21.12	0.373	0.209	Lens 1

*Width believed to be close to true width

 

The mineralization is hosted in at least two massive hemo-ilmenite tabular lenses intruded in the Labrieville anorthosite layered complex. The lenses are trending in the NW direction and gently dipping 25° ENE. They outcrop in a cliff along the Lac Lise road and are intercepted at surface and at a depth of 30 metres below surface in the drill holes. The mineralization is outlined by a VTEM^plus electromagnetic anomaly of 2.5 km in length. In the field, the near-surface mineralization could be easily detected by an electromagnetic Beep-mat detector. Another electromagnetic VTEM^plus anomaly is found 2.4 km northwest of the Block A deposit. This anomaly was explored in 2013 and grab samples were taken at three different locations which gave results of up to 35.5% TiO₂. The anomaly remains to be further investigated.

 

Representative mineralized core from the 2017/2018 drilling campaign has been sent to Corem Labs in order to do some mineralogical evaluation. All the results from the 2014, 2016 and 2017/2018 exploration programs were sent to MRB Consulting for a NI 43-101 resource estimate. The results of this resource calculation will be provided in the near future.

 

Additional claims have been taken by Argex in 2018 in order to protect the current exploration zones and other zones of interest on the Lac Brûlé property. Argex intends to investigate the mineralization potential of the Lac Brûlé property by doing more exploration and metallurgical works in 2018.

 

Louis Caron, P.Geo, is the Qualified Person who has reviewed this press release and approved its content. Assay protocols and analyses were performed based on NI 43-101 guidelines.

 

About Argex Titanium

 

Argex Titanium Inc. has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO₂) for use in high-quality paint, plastics, cosmetics and other TiO₂ applications. The Corporation’s unique proprietary process uses relatively inexpensive and plentiful source material from a variety of potential vendors to produce TiO₂, along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO₂ production methods.

 

To stay informed on Argex Titanium, join our Investor Group on 8020 Connect at www.8020connect.com/groups/argex-titanium-inc.

 

Forward-Looking Statements

 

This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including additional closings of the private placement referred to above, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in Argex’s Annual Information Form for the fiscal year ended December 31, 2017, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

 

Contact:

Mazen Alnaimi

Chairman and Chief Executive Officer | Argex Titanium Inc.

info@argex.ca

To view the original release (with media), please click here

Source: Argex Titanium Inc. (TSX:RGX, OTC Pink:ARGEF, FWB:ASV)

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