Orex Commences Phase-IV Diamond Drilling on the Sandra Escobar Project in Durango, Mexico

VANCOUVER, Nov. 7, 2016 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), has commenced a new round of diamond drilling on the Sandra Escobar Silver Project in northern Durango State, Mexico. This Phase-IV drilling program will utilize two drill rigs and consist of approximately 4,000 metres in 10 to 15 drill holes. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) ("Canasil").

To date, Orex has drilled 8,372 metres in 62 diamond drill holes in the southeastern region of the project. The first 59 diamond drill holes formed the basis for an initial Resource Estimate on the "Boleras Silver Deposit." At a "Base Case" of 45 g/t Ag cut-off, the Inferred Resource Estimate yielded 9.8 million tonnes grading 106 g/t Ag for a total of 33.3 million ounces of silver (See Orex news release of 31 October 2016).

Orex's President, Gary Cope says, "We are pleased that diamond drilling is once again underway on Sandra Escobar. This next phase will include both drilling adjacent to the current Boleras Silver Deposit, as well as several deeper reconnaissance drill holes."

Assay results are now available for the final two reconnaissance drill holes from the Phase-III diamond drilling program. Hole SA-16-061 is located along Puma Ridge, 300 metres southeast of the Burro Zone and 250 metres southwest of the Main Zone. SA-16-061 yielded 14.52 metres core length (10.89 metres true thickness) from surface, grading 55 g/t Ag, including 4 metres core length (3 metres true thickness) grading 111 g/t Ag. More drilling is warranted in the Puma Ridge Zone.

Sandra Escobar Project – 2015-2016 Diamond Drilling Program – Holes 61 to 62

Hole

From (m)

To (m)

Core Length (m)

True Thick. (m)

Ag (g/t)







PUMA RIDGE ZONE







SA-16-061

2.48

17.00

14.52

10.89

55

  Includes

8.00

16.00

8.00

6.00

72

  Includes

8.00

12.00

4.00

3.00

111

  Includes

9.00

11.00

2.00

1.50

157







RECON DRILLING – (No Zone Assigned)







SA-16-062

No Significant Intercepts

 

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 domains with broadly spaced stockwork veinlets. The current working model has a porphyritic rhyolite unit, with andesite sills, as an impermeable cap, which may have focused mineralizing fluids into the host permeable volcaniclastic unit. 

Orex maintains a QA/QC sampling protocol for the diamond drilling program, including the insertion of commercial analytical standards and blank samples. Analytical testing has been performed by SGS Minerals 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).

The service provider, Kluane Mexico S.A. de C.V., a subsidiary of Kluane Drilling Ltd. ("KDL") is an experienced diamond drilling company, with a service and supply office in Durango, Mexico. KD-1000 and KD-2000 man-portable drill rigs will be used for HTW and NTW sized wireline core diamond drilling.  These portable rig designs minimizes the social and environmental impact of the planned drilling program.

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 6,333 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. All within a large caldera complex. 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.

The technical disclosures contained in this news release have been approved by Dale Brittliffe, P.Geo., and Ben Whiting, P.Geo., both being "Qualified Persons" as defined in NI 43-101 on behalf of Orex.

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

Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" with the meaning of applicable securities laws, 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 and the filing of a NI 43-101-compliant technical report within 45 days.

Such statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Orex, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or forward-looking information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology. These statements reflect Orex's current expectations regarding future events, performance and results and speak only as of the date of this news release and Orex undertakes no obligation to update such statements, except as required by law.

All such forward-looking statements and information are based on certain assumptions and analyses made by Orex's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements or information, including, but not limited to unexpected changes in laws, rules or regulations, or their enforcement; the failure of parties to contracts to perform as agreed; social or labor unrest; changes in commodity prices; unexpected failure or inadequacy of infrastructure and the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations. Readers are cautioned not to place undue reliance on forward-looking statements or information.

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 news release.

SOURCE Orex Minerals Inc.

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

RELATED LINKS
www.orexminerals.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890