VANCOUVER, Feb. 18, 2016 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), is pleased to announce that the initial 2,000 metres diamond drilling in 17 holes have been completed on the Sandra Escobar Project in Durango, Mexico. The diamond drilling program will be extended a further 3,000 metres in Phase-II, commencing in the first week of March. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) ("Canasil").
Results for the first hole were published in a news release (25 January 2016) and subsequent holes will be published in batches as the silver fire assay data becomes available. The first hole SA-15-001 yielded a 61 metres core length (43.1 metres true thickness) intercept grading 359 g/t silver, starting from surface. Within this is a sub-interval of 18 metres (12.7 metres true thickness) grading 748 g/t silver. A map showing the locations of the drill holes is attached for reference.
Orex's President, Gary Cope says, "The high-grade and thick drilling results definitely warrant a continuation of the drilling program in the southeastern region of the Sandra Escobar Project. We have now drilled the mineralized horizon over a strike length of 550 metres. Results will be released over the next several weeks."
The KD-1000, man-portable diamond drill rig remains on site for the 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.
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.
Los Crestones Silver-Gold-Copper Project, Sinaloa, Mexico
Due to the success of the Sandra Escobar Project and the ongoing exploration on the Coneto Project, a joint venture with Fresnillo PLC, Orex has chosen to terminate their Los Crestones Project in Sinaloa, Mexico, and return the claims to the original vendors.
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
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.
Image with caption: "Sandra Escobar Project – Southeastern Region – Phase-I Drilling Program Location Map (CNW Group/Orex Minerals Inc.)". Image available at: http://photos.newswire.ca/images/download/20160218_C8667_PHOTO_EN_623423.jpg
For further information: please contact Orex Minerals Inc. at (604) 687-8566 x227, email email@example.com or visit our website at www.orexminerals.com