Austral Gold completed the acquisition of Toronto Venture Exchange listed company, Argentex Mining Corporation (Argentex) on 22 August 2016.
Argentex had assembled an impressive land portfolio in Argentina's Santa Cruz and Rio Negro provinces. In total, Argentex owns 100% mineral rights of more than 37 properties with over 336,278 acres (136,087 hectares) of land. These properties are located within two prominent geographical features, the Deseado and Somuncura Massifs, both of which have proven to host significant epithermal precious metal deposits. The large epithermal vein swarm at Pinguino contains Argentex's discovery of indium-enriched vein-hosted base metal mineralization, which represented a new deposit type for the region, as well as low sulphidation precious metal vein mineralization. The combination of these two types of mineralization within the same property is unique for the province of Santa Cruz and a significant milestone for the company.