VANCOUVER, April 22, 2015 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), in conjunction with their project partner Fresnillo PLC (LSE: FRES) ("Fresnillo"), have commenced drilling on a Phase-IV exploration diamond drilling program of approximately 4,500 metres on the Coneto Gold-Silver Project in Durango, Mexico.
The contract has been awarded to Kluane Drilling Ltd. ("KDL"), a highly experienced international diamond drilling company, with a regional service and supply office in Durango. They utilize modularized mobile drilling equipment, in order to keep to a minimum the social and environmental impact.
Orex's President, Gary Cope says, "We are looking forward to this new drilling program on the Coneto Project and anticipate it leading to a preliminary Resource Estimate."
The first three phases of drilling, totaling 28,700 metres in 82 holes, targeted multiple mineralized structures throughout the Coneto Mining District. This fourth phase is intended to test down dip and along strike from gold-silver intercepts on the La Bufa, Santo Niño, Loma Verde, Impulsora, Durazno and Promontorio structures in about 100 metre step-outs.
The Santo Niño, La Bufa, Loma Verde, Durazno and Impulsora are steeply dipping, sub parallel epithermal quartz veins. Promontorio is a quartz-hematite stockwork zone, with veining. These structures are hosted in Tertiary andesites of the Lower Volcanic Sequence, exposed in a window below the Upper Volcanic Sequence rhyolites. Veins are in a northwest oriented corridor extending for over 17 kilometres.
Coneto Mining District – Durango, Mexico
The historic Coneto Mining District is situated in the heart of the "Mexican Silver Trend", on the Mesa Central, stretching from Guanajuato in the southeast, through to the states of Zacatecas and Durango. 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.
Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approximately 17,600 hectares and cover multiple mineralized epithermal quartz veins.
Ben Whiting, P.Geo., is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified international mining professionals. The Company has several active projects: the Los Crestones Gold-Silver-Copper Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, the Barsele Gold Project in Sweden (currently being transferred to a joint-venture with Agnico Eagle Mines Ltd.) and the Coneto Gold-Silver Project in Durango, Mexico, which is under option to Fresnillo plc.
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.
For further information: please contact Orex Minerals Inc. at (604) 687-8566 x227, email [email protected] or visit our website at www.orexminerals.com