VANCOUVER, Oct. 15, 2014 /CNW/ - Orex Minerals Inc. – (TSX-V: REX) ("Orex"), has awarded a 5,000 metre diamond drilling contract to Kluane Mexico S.A. de C.V., a subsidiary of Kluane Drilling Ltd., for the Los Crestones Gold-Silver-Copper Project, 100 km north of Culiacan in Sinaloa, Mexico.
The service provider, Kluane Drilling Ltd. ("KDL") is an experienced diamond drilling company, with a service and supply office in Durango, Mexico. A KD-1000 man-portable drill rig will be used for HTW, NTW and BTW sized wireline core diamond drilling. These rigs are capable of exceeding a depth penetration of 1,000 metres.
Orex's President, Gary Cope says, "We are looking forward to drilling on Los Crestones to test for both the structurally controlled high grade vein-breccia targets and the underlying porphyry intrusives."
This drilling program follows on the results of an airborne Magnetics and Radiometrics survey conducted by MPX Geoservices Ltd. and a TITAN-24 ground geophysical survey conducted by Quantec Geosciences Ltd. The ground geophysics included both Induced Polarization and deep penetration Magnetotellurics. The airborne and ground geophysical programs commissioned by Orex were designed to complement ongoing geological mapping and geochemical sampling.
Los Crestones Gold-Silver-Copper Project, Sinaloa, Mexico
The Los Crestones project totals 4,168 hectares and is prospective for gold, silver and copper mineralization. Mineralization includes north-south oriented structural zones hosting quartz veins, quartz stockworks and breccia fill possibly related to a deeper porphyry and/or diatreme system. Three main structural zones were targeted in the first phases of work. Corona, Bohemia and Indio are elongate structures recognized on surface as erosion-resistant silicified ribs or "crestons".
Ben Whiting, P.Geo, and Dale Brittliffe, P.Geo. are Qualified Persons as defined in NI 43-101 and take responsibility for the technical disclosure contained in this news release.
On a separate matter, Orex also announces the termination of the investor relations agreement with Frontier Management Ltd. effective October 31, 2014.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX-V: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently 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, email [email protected] or visit our website at www.orexminerals.com