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Orex Minerals Inc. (TSX Venture Exchange: REX, U.S.: ORXIF) is focused on exploration and development of their gold property in Sweden and gold-silver properties in Mexico. The most advanced project is the Barsele Gold project near Storuman, Sweden. A 43-101 compliant resource estimate was released for this property on February 28, 2011. Orex has plans to spend at least $3,000,000 US over the next few years to explore the property and work to try to expand the known resource, starting with an airborne geophysical survey to spot targets for drilling. Over 400 diamond drill holes were completed since 1985. A large bulk sample of 100 tonnes is also planned.
The second property is the Coneto gold-silver project. This property is centrally positioned in the 'Mexican Silver Trend', in the Mesa Central on the eastern side of the Sierra Madre Occidental mountains. The largest silver-gold mine in the world - Fresnillo - is located in this trend. This trend hosts many other major deposits, including Guanajuato, Real de Angeles, San Agustin, La Colorada, Zacatecas, La Preciosa and La Pitarrilla.
Coneto has excellent infrastructure. The village of Coneto de Comonfort, adjacent to the mining camp, is on the national electric grid and provides local services and labour. There are about 4000 people in the municipal area. A paved road leads to the center of the Coneto project and there are many gravel access roads. The nearest major highway is 35 kilometres to the east. The city of Durango is about 100 kilometres south of Coneto. Orex has 100% ownership of 16,300 hectares (41,700 acres) of mineral concessions at Coneto.
With a history of more than 400 years, Coneto has been a mining camp since the days of the Conquistadores. Over 40 veins of silver and gold have been documented in the Coneto mining camp, some over 20 metres wide and 1 kilometre long. Very little diamond drilling has occurred on the property. The central vein system was mined in the 1970's by private companies. Mining on several veins has only gone down as far as the water table, yet the veins continue below that level. No modern exploration programs have occurred in the mining camp prior to Orex's involvement. Orex is excited about our joint venture with Fresnillo to explore the property further.
The third property is Las Mesas, a large grassroots exploration project located along an altered portion of a major regional fault structure, with associated geophysical and geochemical anomalies. A Phase-1 diamond drilling program starting in March, 2011 is planned to evaluate target areas on the property for the first time.
The management team at Orex Minerals has more than 150 years of cumulative experience in all aspects of mining. Team members have worked with some of the largest mining companies in the world and have been successful in discovery, exploration, and development of multiple mining projects.
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