Orex Minerals (REX-V) big volume day, speculating newsletter writer gave it a hump.
May 9, '16 - NR
Orex Minerals , is pleased to announce that the Phase-II diamond drilling program continues to intercept silver mineralization on the Sandra Escobar Project in Durango, Mexico. Assays for five more drill holes are now available. These include holes SA-16-018 to SA-16-022 in the southeastern region of the project. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources (CLZ-V).
Highlight for this batch of holes is SA-16-019, which yielded 60 metres core length (49.2 m true thickness) grading 205 g/t silver, starting 16 metres vertically below surface. Within this is a sub-interval of 15 metres (12.3 m true thickness) grading 375 g/t silver.
Orex's President, Gary Cope says, "Drilling at Sandra Escobar continues to yield thick intercepts of disseminated silver mineralization. Discussions with consulting firms have started for metallurgical testing and resource estimation studies."
Sandra Escobar Project – 2015-2016 Diamond Drilling Program – Holes 18 to 22
| Hole
| From (m)
| To (m)
| Core Length (m)
| True Thick. (m)
| Ag (g/t) FA
|
|
|
|
|
|
| SA-16-018 a
| 50.00
| 89.00
| 39.00
| 31.95
| 119
| Includes
| 60.00
| 85.00
| 25.00
| 20.48
| 146
| Includes
| 61.00
| 64.00
| 3.00
| 2.46
| 224
| Includes
| 61.00
| 62.00
| 1.00
| 0.82
| 285
| SA-16-018 b
| 120.50
| 137.00
| 16.50
| 13.52
| 46
| Includes
| 131.00
| 137.00
| 6.00
| 4.91
| 72
|
|
|
|
|
|
| SA-16-019
| 24.00
| 84.00
| 60.00
| 49.15
| 205
| Includes
| 42.70
| 74.00
| 31.30
| 25.64
| 284
| Includes
| 59.00
| 74.00
| 15.00
| 12.29
| 375
| Includes
| 60.00
| 61.00
| 1.00
| 0.82
| 1,550
|
|
|
|
|
|
| SA-16-020
| 46.00
| 113.00
| 67.00
| 63.50
| 88
| Includes
| 46.00
| 77.00
| 31.00
| 29.38
| 114
| Includes
| 50.00
| 68.00
| 18.00
| 17.06
| 139
| Includes
| 53.00
| 55.00
| 2.00
| 1.90
| 228
|
|
|
|
|
|
| SA-16-021
| 44.50
| 75.00
| 30.50
| 28.50
| 110
| Includes
| 49.00
| 74.00
| 25.00
| 23.36
| 116
| Includes
| 49.00
| 62.00
| 13.00
| 12.14
| 132
| Includes
| 52.00
| 53.00
| 1.00
| 0.93
| 184
|
|
|
|
|
|
| SA-16-022
| 69.00
| 94.00
| 25.00
| 24.00
| 70
| Includes
| 71.00
| 85.00
| 14.00
| 13.44
| 86
| Includes
| 76.00
| 79.00
| 3.00
| 2.88
| 142
| Includes
| 76.00
| 77.00
| 1.00
| 0.96
| 189
|
|
|
|
|
|
|
Kluane Drilling Ltd. provides the drilling services utilizing an environmentally low-impact KD-1000 man-portable diamond drill rig.
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.
True thicknesses are estimated based on structural and stratigraphic interpretations. A map showing the locations of the drill holes and a sample cross section are available on the Orex website.
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 a gravimetric 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 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.
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 within this news release.
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 |
