Orex Hits High-Grade Again, Including 37 Metres Grading 328 g/t Silver on the Sandra Escobar Project in Durango, Mexico
VANCOUVER, Feb. 23, 2016 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), is pleased to announce assay results from five more diamond drill holes on the Sandra Escobar Project in Durango, Mexico. These include holes SA-15-002 to SA-16-006 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").
Hole SA-16-006 yielded 37 metres core length (33.50 metres true thickness) grading 328 g/t silver, starting 10 metres below surface. Within this is a sub-interval of 14.00 metres (12.68 metres true thickness) grading 596 g/t silver. Hole SA-16-006 is located 350 metres east of previously released hole SA-15-001 (see news release dated 25 January 2016).
Also in this set is hole SA-15-002, which yielded 51.00 metres core length (45.00 metres true thickness) grading 218 g/t silver from surface. Within this is a sub interval of 17.00 metres (15.00 metres true thickness) grading 404 g/t silver.
| Sandra Escobar Project – 2015-2016 Diamond Drilling Program | |||||
| Hole | From (m) | To (m) | Core Length (m) | True Thick. (m) | Ag (g/t) FA |
| SA-15-001 (1) | 1.00 | 62.00 | 61.00 | 43.13 | 359 |
| Includes | 6.00 | 24.00 | 18.00 | 12.73 | 748 |
| Includes | 14.00 | 23.00 | 9.00 | 6.36 | 1,204 |
| Includes | 20.00 | 23.00 | 3.00 | 2.12 | 2,271 |
| SA-15-002 | 1.00 | 52.00 | 51.00 | 45.00 | 218 |
| Includes | 29.00 | 46.00 | 17.00 | 15.00 | 404 |
| Includes | 37.00 | 45.00 | 8.00 | 7.06 | 466 |
| Includes | 44.00 | 45.00 | 1.00 | 0.88 | 1,074 |
| SA-15-003 | 1.00 | 54.00 | 53.00 | 40.60 | 139 |
| Includes | 29.00 | 53.00 | 24.00 | 18.39 | 166 |
| Includes | 43.00 | 48.00 | 5.00 | 3.83 | 325 |
| Includes | 44.00 | 45.00 | 1.00 | 0.77 | 957 |
| SA-16-004 | 2.00 | 49.00 | 47.00 | 39.00 | 91 |
| Includes | 4.00 | 37.00 | 33.00 | 27.38 | 102 |
| Includes | 28.00 | 37.00 | 9.00 | 7.47 | 113 |
| Includes | 36.00 | 37.00 | 1.00 | 0.83 | 217 |
| SA-15-005 | 13.00 | 59.00 | 46.00 | 33.31 | 186 |
| Includes | 24.00 | 54.00 | 30.00 | 21.72 | 252 |
| Includes | 39.00 | 54.00 | 15.00 | 10.86 | 374 |
| Includes | 50.00 | 51.00 | 1.00 | 0.72 | 1,052 |
| SA-15-006 | 13.00 | 50.00 | 37.00 | 33.50 | 328 |
| Includes | 24.00 | 48.00 | 24.00 | 21.73 | 453 |
| Includes | 34.00 | 48.00 | 14.00 | 12.68 | 596 |
| Includes | 42.70 | 45.75 | 3.05 | 2.76 | 1,365 |
(1) Hole SA-15-001 was previously released on 25 January 2016.
Orex's President, Gary Cope says, "The high-grade silver and thick drilling intercepts continue across the target area. Still to come are the results for 11 more holes from the Phase-I drilling program. All of holes drilled to date have hit the strataform host rock unit. Results will be released over the next several weeks."
The KD-1000, man-portable diamond drill rig remains on site for the Phase-II March resumption of drilling. Kluane Drilling Ltd. provides the drilling services.
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 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 may also indicate 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.
Contact
please contact Orex Minerals Inc. at (604) 687-8566 x227, email info@orexminerals.com or visit our website at www.orexminerals.com