Vancouver, BC -- 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
For further information, please contact Orex Minerals Inc. at (604) 687-8566 x227, email info@orexminerals.com or visit our website at www.orexminerals.com
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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