Orex Minerals Inc.: Additional Gold and Silver Results Received from Trenching on the Impulsora Structure, Coneto Project, Durango, Mexico
August 20, 2013 (Source: Marketwired) — Orex Minerals Inc. (TSX VENTURE:REX) (“Orex“) is pleased to announce that the results from additional trench channel sampling along a 380 metres strike-length of the Impulsora structure have been received on the Coneto Gold-Silver Project in Durango, Mexico. A technical committee, with representation of Orex and its project partner Fresnillo plc (LSE:FRES) (“Fresnillo”), is managing the Coneto exploration program.
Trench Impul-3 yielded an intercept of 1.30 metres (true thickness 1.28 metres) grading Au 22.10 g/t and Ag 592 g/t for a gold-equivalent of 32.86 g/t, or a silver-equivalent of 1,808 g/t.
Trench Impul-48 yielded an intercept of 2.55 metres (true thickness 2.51 metres) grading Au 2.98 g/t and Ag 287 g/t for a gold-equivalent of 8.19 g/t, or a silver-equivalent of 451 g/t.
According to Orex’s President, Gary Cope, “Our colleagues at Fresnillo have confirmed with Orex that to date their expenditures have reached $US 3.4 million and they will be proceeding with year two of the Coneto program. We look forward to more success on the Coneto Project.”
Impulsora is a northwest-southeast striking, steeply dipping epithermal vein, 3 km southeast of the village of Coneto, which has been tested in 93 trenches. Some trenches are on the main Impulsora structure, with additional trenches in the hanging-wall (Imp-Alto), footwall (Imp-Bajo), and on splay veins (Imp-Ramal).
The following table highlights key intercepts along the trenching of the Impulsora structure. Full details and a trenching location map have been prepared for the Orex website.
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Data presented here for the Impulsora structure trenching program are in addition to the trenching results released for the Loma Verde and Santo Niño structures trenching program (dated: 2013-07-10).
Silver-equivalent, for the purposes of this news release, is defined as silver grade plus 55 times gold grade. Gold-equivalent is defined as gold grade, plus silver divided by 55. The 55:1 ratio is based on the rolling 2013 averages of spot prices of silver and gold. Metallurgical recoveries and net smelter returns are assumed to be 100% for the equivalent values. Base metal values are not included in the equivalent values.
Coneto Mining District – Durango, Mexico
The historic Coneto Mining District is situated in the heart of the “Mexican Silver Trend”, stretching from Guanajuato in the southeast, through to the states of Zacatecas and Durango. The trend hosts some of the world’s largest silver deposits, including Fresnillo, Guanajuato, La Pitarrilla, Real de Angeles, and Zacatecas mining camps.
Orex and Fresnillo hold contiguous mineral concessions in the Coneto Mining District, which collectively total approximately 17,600 hectares and cover an extensive area of known mineralized epithermal quartz veins. The project is located in the Mesa Central, on the eastern flank of the Sierra Madre Occidental Mountains.
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. Trench channel samples were taken using the same QA/QC protocols as the diamond drilling program, with the insertion of analytical standards, blanks and duplicates. Analyses were performed in the laboratories of ALS Chemex. These surface trench results are in agreement with the tenor of mineralization in the diamond drilling results of Impulsora, as announced in news releases (dated: 2013-03-25 and 2010-08-09).
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX VENTURE:REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has several current projects: its flagship property, the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Persistence Gold-Copper Project and 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
Gary Cope, President
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>