Orex Intercepts 41 Metres Grading 108 g/t Silver in Drilling on the Sandra Escobar Project in Durango, Mexico

Mittwoch, 19.10.2016 16:40 von

PR Newswire

VANCOUVER, Oct. 19, 2016 /PRNewswire/ - Orex Minerals Inc. – (TSX-V: REX – OTCQX: ORMNF) ("Orex"), is pleased to announce that the Phase-III diamond drilling program on the Sandra Escobar Project in Durango, Mexico, has been completed up to hole SA-16-062.  Results for holes SA-16-054 to SA-16-060, drilled in the Main and Cerro Chato Zones in the southeastern region of the project, are presented in the table below. Drilling for Phase-IV is due to start in early November. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) ("Canasil").

Highlight for this batch of holes is SA-16-057 in the Main Zone, which yielded 41.00 metres core length (33.58 m true thickness) grading 108 g/t silver, starting 45 metres below surface. This includes 11.00 metres core length (9.01 m true thickness) grading 237 g/t silver.

Holes SA-16-054 and 055 are reconnaissance holes on the eastern side of the Cerro Chato Zone, which confirms that the favourable horizon in this area is silver mineralized. Holes SA-16-057 to 060 are from the southern side of the Main Zone.

Additional activities on the Sandra Escobar exploration program include an Aeromagnetic and Radiometric Survey being flown by Geotech Ltd. and an initial Resource Estimate being prepared by Mining Plus, due for completion around the end of October. Metallurgical work is also being conducted, under the direction of Blue Coast Metallurgy. Initial testing shows that the native silver and silver halides are amenable to cyanidation, whereas the argentiferous manganese oxides will require a reductive leach process stage. These manganese oxides have responded well for the liberation of silver in reductive leaching during the preliminary testing phases. The metallurgical program is currently underway.

Orex's President, Gary Cope says, "This is an active time for the exploration of the Sandra Escobar Project. We are encouraged by the early stage metallurgical tests and look forward to the initial resource estimate. A new phase of diamond drilling is being scheduled for November-December."

Sandra Escobar Project – 2015-2016 Diamond Drilling Program – Holes 54 to 60

Hole

From (m)

To (m)

Core Length (m)

True Thick. (m)

Ag (g/t)







CERRO CHATO ZONE







SA-16-054

5.00

21.00

16.00

12.26

36

  Includes

9.00

13.00

4.00

3.06

48

  Includes

10.00

11.00

1.00

0.77

65

(Lower Interval 1)

89.00

98.00

9.00

6.89

46

  Includes

92.00

97.00

5.00

3.83

53

  Includes

93.00

94.00

1.00

0.77

75

(Lower Interval 2)

128.00

131.00

3.00

2.30

31







SA-16-055

7.00

17.00

10.00

7.66

32

  Includes

10.00

13.00

3.00

2.30

52

  Includes

10.00

11.00

1.00

0.77

63







MAIN ZONE







SA-16-056

Hole Abandoned Short of Target Depth







SA-16-057

62.00

103.00

41.00

33.58

108

  Includes

69.00

92.00

23.00

18.84

152

  Includes

69.00

80.00

11.00

9.01

237

  Includes

71.00

74.00

3.00

2.46

394







SA-16-058

101.00

115.00

14.00

11.47

28

  Includes

106.00

113.00

7.00

5.73

39

  Includes

108.00

112.00

4.00

3.28

50

  Includes

110.00

111.00

1.00

0.82

62

(Lower Interval)

151.50

162.00

10.50

8.60

18

  Includes

157.50

159.00

1.50

1.23

24







SA-16-059

52.50

55.00

2.50

2.05

24

  Includes

52.50

54.00

1.50

1.23

30

(Lower Interval)

72.00

85.00

13.00

10.65

16

  Includes

77.00

81.00

4.00

3.28

22

  Includes

77.00

78.00

1.00

0.82

29







SA-16-060

72.00

112.00

40.00

32.76

55

  Includes

78.00

101.00

23.00

18.84

69

  Includes

79.00

83.00

4.00

3.29

122

  Includes

80.00

81.00

1.00

0.82

185







 

Kluane Drilling Ltd. provides the drilling services utilizing an environmentally low-impact KD-1000 man-portable diamond drill rig.

Silver mineralization is hosted in a rhyolite volcanic dome. An altered and highly permeable crystal lithic tuff unit contains disseminations of silver bearing minerals and broadly spaced stockwork veinlets. The current working model has a porphyritic rhyolite unit as an impermeable cap, which may have focused mineralizing fluids into the host permeable volcaniclastic unit. 

True thicknesses are estimated based on structural and stratigraphic interpretations. A map showing the locations of the drill holes is available on the Orex website.

Orex maintains a QA/QC sampling protocol for the diamond drilling program, including the insertion of commercial analytical standards and blank samples. Analytical testing is performed by Bureau Veritas. Silver values are determined by fire assay with a gravimetric finish. Multi-element analyses are also determined using a 4-acid digestion and ICP-MS (Inductively Coupled Plasma Mass Spectrometry).

Sandra Escobar Silver-Gold Project, Durango, Mexico

Sandra Escobar is situated north of the town of Tepehuanes, Durango, in the heart of the "Mexican Silver Trend", midway between the mining districts of Tovar and Guanacevi and is 75 km west of Silver Standard's La Pitarrilla. This prolific trend hosts some of the world's largest silver camps and deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles and  Zacatecas.

The project consists of 6,976 hectares of mineral concessions and covers multiple mineralized epithermal quartz veins and breccia structures. These veins form a high level silver-gold-base metals system, hosted in andesitic and rhyolitic rocks, centered on a large rhyolite dome complex in the north and silver systems in smaller rhyolite dome complexes to the southeast. Intense alteration zones and fluid flooding in permeable formations indicates the presence of bulk tonnage targets. Excellent infrastructure exists in the Sandra Escobar area, including paved road access, electrical power, water and manpower from nearby communities.

Dale Brittliffe, P.Geo., and Ben Whiting, P.Geo., are Qualified Persons, as defined in NI 43-101, and take responsibility for the technical disclosure contained within this news release.

ABOUT OREX MINERALS INC.

Orex is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Orex has several current projects: the Coneto Gold-Silver Project in Durango, Mexico, a joint venture with Fresnillo PLC, the Jumping Josephine Gold-Silver Project in British Columbia, Canada, plus this newest Sandra Escobar Silver Project in Durango, Mexico, with Canasil Resources Inc. 

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope
President

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Orex undertakes no obligation to update such statements, except as required by law.

Neither 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 release.

SOURCE Orex Minerals Inc.