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| | April 21, 2010
Argus Update on Kaituma Gold-Uranium Exploration Project
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| | NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES
Vancouver, B.C., April 21, 2010 - Argus Metals Corp. (the "Company") provides an update on the 2010 Kaituma Project exploration program located in Northwest Guyana. The Kaituma Gold-Uranium Project represents a large scale, bulk tonnage uranium exploration target with three (3) coincident, "kilometer scale" gold anomalies. Gold assays on the Project have returned "gold in soil" values of up to 827 ppb.
The Phase I exploration program is designed to determine drill site selection for the uranium targets as well as to further define the grade and distribution of gold mineralization previously identified on the Kaituma Project. The exploration Program will be conducted over the entirety of the Kaituma Project, encompassing the Kaituma East Prospecting License ("PL") (S53/2009) and the Kaituma West PL (S35/2005). A 15 kilometre ground based (grid) scintillometer survey within PL S53/2009 is the main focus of the Phase I program. The survey will also afford the Company final groundtruthing of the target and allow for updated access assessment. In addition, the Company intends to excavate and sample profile trenches and pits on the project to greater constrain uranium and gold mineralization within the leached saprolitic cap which overlies the entire Project area. Additional sampling, mapping and prospecting will be conducted on the three (3) gold targets focusing in particular on the shear hosted mineralization and in the historic "4 Mile" mining camp within PL 35/2007.
A 15-man exploration camp is currently being built and provisioned to support this work program. This camp infrastructure will be sufficient to support both the Phase I orientation and exploration program as well as the Phase II drilling program.
Access and infrastructure are readily accessible on the Project with a deep water port, all weather access road and a resource focused town of ~3,000 people on the northern property boundary.
Michael Collins, President of Argus Metals Corp. stated "Argus has achieved an on-the-ground presence at the Kaituma Project, and can now move to demonstrate the potential of this large scale Project. This work phase will culminate in the collaring of the first drill hole ever on the Kaituma Project, and Argus is excited to be the first company to advance it to this level."
Maps and additional project and geological information may be found on the corporate web site at: http://www.argusmetalscorp.com/s/KaitumaGuyana.asp
Paul D. Gray P.Geo., a Director of the Company is a Qualified Person as defined by National Instrument 43-101, has read and approved the contents of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins
President and CEO
For further information, please contact:
Argus Metals Corp.
350-580 Hornby St,
Vancouver BC, V6C 3B6
Telephone: (604) 687-2471
Facsimile: (604) 687-2472
Website: www.argusmetalscorp.com
Neither the 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 news release.
FORWARD LOOKING INFORMATION DISCLAIMER
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable securities legislation, including statements concerning our plans to raise private placement funds and settle debts. Each of these activities involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Risks include delays in obtaining or failure to obtain required TSXV or shareholder approvals. There is no assurance the Company will be able to raise any equity financing. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise. |
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| | You can view the Next News Releases item: Wed May 26, 2010, Argus Metals Corp Incentive Options Issued
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