Vancouver, BC - Orex Minerals Inc. - (TSX-V: REX) ("Orex"), is pleased to announce that the Phase-II diamond drilling program continues to intercept silver mineralization on the Sandra Escobar Project in Durango, Mexico. Assays for eight more drill holes are now available. These include holes SA-16-023 to SA-16-030 in the southeastern region of the project. 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-16-023, which yielded 46 metres core length (40.5 m true thickness) grading 218 g/t silver, starting 25 metres vertically below surface. Within this is a sub-interval of 4 metres (3.5 m true thickness) grading 820 g/t silver.
Six of the eight holes, SA-16-023 to 027 and SA-16-030, are in the Main Zone. Hole SA-16-030 seems to mark the eastern boundary of the Main Zone.
In addition, prospecting has identified the geological horizon for disseminated silver mineralization on a separate hillside, Cerro Chato, northwest of the Main Zone. Two holes, SA-16-028 and 029, are test reconnaissance holes in the Cerro Chato Zone. These holes have confirmed that Cerro Chato is a favourable target area. More mapping and drilling is being planned for several zones, including Cerro Chato, in the next phase.
Orex's President, Gary Cope says, "Drilling continues to yield thick intercepts of disseminated silver mineralization showing continuity in the Main Zone. Identification of silver on Cerro Chato and in several other areas bodes well for the next phase of exploration."
| Sandra Escobar Project - 2015-2016 Diamond Drilling Program - Holes 23 to 30 | |||||
|---|---|---|---|---|---|
| Hole | From (m) | To (m) | Core Length (m) | True Thick. (m) | Ag (g/t) FA |
| MAIN ZONE | |||||
| SA-16-023 | 44.00 | 90.00 | 46.00 | 40.50 | 218 |
| Includes | 52.00 | 86.00 | 34.00 | 29.93 | 270 |
| Includes | 55.00 | 59.00 | 4.00 | 3.52 | 820 |
| Includes | 56.00 | 57.00 | 1.00 | 0.88 | 1,966 |
| SA-16-024 | 23.00 | 68.00 | 45.00 | 38.50 | 143 |
| Includes | 32.00 | 48.00 | 16.00 | 13.69 | 202 |
| Includes | 32.00 | 35.00 | 3.00 | 2.57 | 384 |
| Includes | 33.00 | 34.00 | 1.00 | 0.86 | 719 |
| SA-16-025 | 37.00 | 57.00 | 20.00 | 19.00 | 133 |
| Includes | 39.00 | 47.00 | 8.00 | 7.60 | 247 |
| Includes | 45.00 | 47.00 | 2.00 | 1.90 | 503 |
| Includes | 45.00 | 46.00 | 1.00 | 0.95 | 673 |
| SA-16-026 | 9.00 | 58.00 | 49.00 | 34.65 | 46 |
| Includes | 25.00 | 44.00 | 19.00 | 13.44 | 61 |
| Includes | 35.00 | 42.00 | 7.00 | 4.95 | 84 |
| Includes | 35.00 | 36.00 | 1.00 | 0.71 | 255 |
| SA-16-027 | 12.00 | 43.00 | 31.00 | 28.54 | 73 |
| Includes | 15.00 | 31.00 | 16.00 | 14.73 | 88 |
| Includes | 19.00 | 24.00 | 5.00 | 4.60 | 117 |
| Includes | 22.00 | 23.00 | 1.00 | 0.92 | 142 |
| SA-16-030 | 3.00 | 6.00 | 3.00 | 2.12 | 51 |
| Includes | 4.00 | 5.00 | 1.00 | 0.71 | 93 |
| CERRO CHATO ZONE | |||||
| SA-16-028 | 10.00 | 46.00 | 36.00 | 25.46 | 39 |
| Includes | 39.00 | 44.00 | 5.00 | 3.54 | 119 |
| Includes | 41.00 | 43.00 | 2.00 | 1.41 | 179 |
| Includes | 42.00 | 43.00 | 1.00 | 0.71 | 238 |
| SA-16-029 | 1.00 | 31.00 | 30.00 | 22.98 | 32 |
| Includes | 17.00 | 31.00 | 14.00 | 10.72 | 36 |
| Includes | 29.00 | 31.00 | 2.00 | 1.53 | 86 |
| Includes | 30.00 | 31.00 | 1.00 | 0.77 | 123 |
Kluane Drilling Ltd. provides the drilling services utilizing an environmentally low-impact KD-1000 man-portable diamond drill rig.
Silver mineralization is hosted on the north side of a rhyolite volcanic dome. 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 sample cross sections 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 and 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
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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