Orex Hits 67 Metres Grading 192 g/t Silver on the Sandra Escobar Project in Durango, Including 2 Metres Grading 1,216 g/t Silver
VANCOUVER, Aug. 29, 2016 - Orex Minerals Inc. – (TSX-V: REX – OTC: ORMNF) ("Orex"), is pleased to announce that the Phase-III diamond drilling program continues to intercept silver mineralization on the Sandra Escobar Project in Durango, Mexico. Assays for five more drill holes are now available. These include holes SA-16-039 to SA-16-043 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-16-041, which yielded 67 metres core length (58 m true thickness) grading 192 g/t silver, starting from surface. Within this is a sub-interval of 2 metres (1.73 m true thickness) grading 1,216 g/t silver.
Hole SA-16-039 is located in a faulted corridor between the Main Zone and Burro Zone. Hole SA-040 is a 50 metres step out to the south side of the Main Zone. Holes SA-16-041, 042 and 043 are in-fill drill holes in the Main Zone to tighten section spacing to 50 metres. The in-fill drilling was performed at the request of the mining consultants who are preparing the initial resource estimate.
Orex's President, Gary Cope says, "Drilling continues to yield thick intercepts of disseminated silver mineralization showing strong continuity in the Main Zone of the Boleras Deposit."
| Sandra Escobar Project – 2015-2016 Diamond Drilling Program – Holes 39 to 43 | |||||
| Hole | From (m) | To (m) | Core Length (m) | True Thick. (m) | Ag (g/t) FA |
| SA-16-039 | 55.00 | 63.00 | 8.00 | 7.25 | 67 |
| Includes | 56.00 | 60.00 | 4.00 | 3.63 | 74 |
| Includes | 59.00 | 60.00 | 1.00 | 0.91 | 91 |
| MAIN ZONE | |||||
| SA-16-040 | 67.00 | 117.00 | 50.00 | 45.32 | 90 |
| Includes | 68.00 | 108.00 | 40.00 | 36.25 | 104 |
| Includes | 80.00 | 84.00 | 4.00 | 3.63 | 195 |
| Includes | 83.00 | 84.00 | 1.00 | 0.91 | 373 |
| SA-16-041 | 2.00 | 69.00 | 67.00 | 58.02 | 192 |
| Includes | 12.00 | 59.00 | 47.00 | 40.70 | 241 |
| Includes | 23.00 | 32.00 | 9.00 | 7.79 | 449 |
| Includes | 23.00 | 25.00 | 2.00 | 1.73 | 1,216 |
| (lower int.) | 112.50 | 117.00 | 4.50 | 3.90 | 51 |
| Includes | 112.50 | 114.00 | 1.50 | 1.30 | 76 |
| SA-16-042 | 27.00 | 83.00 | 56.00 | 48.50 | 129 |
| Includes | 65.00 | 79.00 | 14.00 | 12.12 | 256 |
| Includes | 67.00 | 77.00 | 10.00 | 8.66 | 299 |
| Includes | 68.00 | 69.00 | 1.00 | 0.87 | 680 |
| (lower int.) | 127.50 | 132.00 | 4.50 | 3.90 | 40 |
| SA-16-043 | 40.00 | 95.00 | 55.00 | 47.63 | 56 |
| Includes | 43.00 | 83.00 | 40.00 | 34.64 | 60 |
| Includes | 43.00 | 55.00 | 12.00 | 10.39 | 84 |
| Includes | 53.00 | 54.00 | 1.00 | 0.87 | 114 |
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 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 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.
Contact
please contact Orex Minerals Inc..at (604) 687-8566 x227, email info@orexminerals.com or visit our website at www.orexminerals.com