Vancouver, BC -- Orex Minerals Inc. -- (TSX-V: REX) ("Orex"), is pleased to announce that the Phase-I diamond drilling program has been completed and Phase-II is well underway on the Sandra Escobar Project in Durango, Mexico. Assays for the remaining seven drill holes from the Phase-I program are now available. Drill results include holes SA-16-011 to SA-16-017 in the southeastern region of the project. In addition, select samples were submitted for laboratory testing and this early stage work has identified "native silver" as the main disseminated silver bearing mineral. Analytical work is ongoing. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. -- (TSX.V: CLZ) ("Canasil").
Highlighting this batch of holes is SA-16-015, which yielded 44 metres core length (36 m true thickness) grading 129 g/t silver, starting 26 metres vertically below surface. Within this is a sub-interval of 5 metres (4.1 m true thickness) grading 252 g/t silver.
Orex's President, Gary Cope says, "The identification of native silver as the predominant silver phase, is exciting news. Drilling continues in Phase-II, with the drill rig currently on hole SA-16 027. We are encouraged that all holes drilled to date have hit the mineralized horizon."
| Sandra Escobar Project -- 2015-2016 Diamond Drilling Program -- Holes 11 to 17 | |||||
|---|---|---|---|---|---|
| Hole | From (m) | To (m) | Core Length (m) | True Thick. (m) | Ag (g/t) FA |
| SA-16-011 | 9.00 | 61.00 | 52.00 | 48.00 | 74 |
| Includes | 11.00 | 27.00 | 16.00 | 14.77 | 106 |
| Includes | 11.00 | 17.00 | 6.00 | 5.54 | 138 |
| Includes | 12.00 | 13.00 | 1.00 | 0.92 | 175 |
| SA-16-012 | 8.00 | 49.00 | 41.00 | 28.99 | 89 |
| Includes | 11.00 | 41.00 | 30.00 | 21.21 | 101 |
| Includes | 32.00 | 38.00 | 6.00 | 4.24 | 141 |
| Includes | 33.00 | 34.00 | 1.00 | 0.71 | 206 |
| SA-16-013 | 43.00 | 102.00 | 59.00 | 41.72 | 93 |
| Includes | 46.00 | 90.00 | 44.00 | 31.11 | 102 |
| Includes | 54.00 | 59.00 | 5.00 | 3.54 | 132 |
| Includes | 54.00 | 55.00 | 1.00 | 0.71 | 245 |
| SA-16-014 | 35.00 | 64.00 | 29.00 | 28.01 | 63 |
| Includes | 35.00 | 54.00 | 19.00 | 18.35 | 80 |
| Includes | 36.00 | 48.00 | 12.00 | 11.59 | 84 |
| Includes | 44.00 | 45.00 | 1.00 | 0.97 | 122 |
| SA-16-015 | 32.00 | 76.00 | 44.00 | 36.04 | 129 |
| Includes | 48.00 | 74.00 | 26.00 | 21.30 | 156 |
| Includes | 67.00 | 72.00 | 5.00 | 4.10 | 252 |
| Includes | 70.00 | 72.00 | 2.00 | 1.64 | 329 |
| SA-16-016 | 11.50 | 41.00 | 29.50 | 22.60 | 97 |
| Includes | 22.00 | 40.00 | 18.00 | 13.79 | 123 |
| Includes | 22.00 | 32.00 | 10.00 | 7.66 | 135 |
| Includes | 30.00 | 31.00 | 1.00 | 0.77 | 166 |
| SA-16-017 | 13.50 | 41.00 | 27.50 | 21.07 | 69 |
| Includes | 21.00 | 27.00 | 6.00 | 4.60 | 101 |
| Includes | 24.00 | 27.00 | 3.00 | 2.30 | 107 |
| Includes | 24.00 | 25.00 | 1.00 | 0.77 | 118 |
Kingston Geosciences Ltd. and Vancouver GeoTech Labs, have identified the main silver-bearing mineral as "native silver" (Ag), which was identified by scanning electron microprobe -- energy dispersive spectrometry, with X-ray diffraction, on polished thin sections of select rock samples from the southeast region of the Sandra Escobar Project.
The Phase-II drilling program, consisting of 3,000 metres in about 20 to 25 drill holes, commenced on March 16th 2016, with hole SA-16-018. Kluane Drilling Ltd. provides the drilling services utilizing an environmentally low-impact KD-1000 man-portable diamond drill rig.
Drilling of silver-bearing mineralization has to date only taken place on the north side of a rhyolite volcanic dome. In this area, an altered and highly permeable volcaniclastic 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 and a sample cross section are 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 SGS Mineral Services. Silver values are determined by fire assay with an atomic absorption 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
For further information, please contact Orex Minerals Inc. at (604) 687-8566 x227, email
or visit our website at
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.
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