VANCOUVER, Jan. 30 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the
"Company"), announces that it will commence drilling on its San Lucas Property
80 km north of Durango in the State of Durango, Mexico. The Company has
mobilized its recently purchased drill rig to the property and engaged Tiger
Drilling ("Tiger") to operate and maintain the drill rig. A director of the
Company is the majority shareholder of Tiger. In addition, the Company has
secured a second drill rig.
At the San Lucas Property, a 19-hole drill program completed in 2005
outlined a high grade silver-gold mineralized system with lead and zinc in
volcanic rocks over a two-kilometre strike length. Preliminary surface mapping
and sampling have traced the zone for an additional two kilometres along
strike from the original drilling. Highlights of the 2005 drill program
included intercepts of 9.26 grams per tonne ("gpt") of gold and 233 gpt silver
over 4 metres in Hole 3 and 203 gpt silver over 6 metres in Hole 4. Mapping
and sampling have also identified a separate mineralized structure. A
5,000- metre program of drilling will test extensions of mineralization along
strike and below previously drilled mineralization at the property.
The Company also reported that drilling has been delayed on the Tejamen
Silver Property pending renewal of a surface access permit from the local
village authority. The Company has been engaged in communication with the
village authority and anticipates that approval will be granted next month.
An independent resource study (NI 43-101 compliant, as reported in the
April 11, 2006 news release) has concluded that the Tejamen Silver Property
contains a silver-equivalent resource of 50.8 million ounces in a total of
22.6 million tonnes, grading a silver-equivalent of 69.8 grams per tonne
(2.04 ounces per ton).
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
National Instrument 43-101 requires the following statement: that the
preliminary assessment is preliminary in nature, that it includes inferred
mineral resources that are considered too speculative geologically to have the
economic considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
preliminary assessment will be realized.
Forward-Looking Statements: The above contains forward-looking statements
that are subject to a number of known and unknown risks, uncertainties and
other factors that may cause actual results to differ materially from those
anticipated in our forward-looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues
and mineral recovery processes. Although we believe the expectations reflected
in our forward-looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance or
For further information:
For further information: Linda Thorstad, M.Sc., P.Geo. Chief Executive
Officer, T: (604) 683-5651, E: firstname.lastname@example.org