Geological Work Commences on Coneto Silver-Gold Project in Mexico
Vancouver, B.C. - Orex Minerals Inc. - (REX: TSX-V) is pleased to announce that geological field crews have commenced working on the Coneto silver-gold mining camp in Durango State, Mexico.
Located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains, Coneto is centrally positioned in the "Mexican Silver Trend". This silver trend, stretching from Guanajuato in the southeast, through the states of Zacatecas and Durango, hosts some of the World's largest silver deposits, including the Fresnillo, Zacatecas, Real de Angeles, La Preciosa, and La Pitarrilla mining camps.
Gary Cope, President of Orex, says; "We are pleased that an exploration campaign has begun on Coneto. All indications point to the presence of a very large system similar in nature to La Preciosa and La Pitarrilla. Our exploration team is now prioritizing drilling targets, while mapping the large mineral concessions."
Over 30 epithermal silver-gold vein structures have been identified at Coneto. The initial Orex program will consist of detailed structural geology mapping and geochemical sampling in the areas around Calaveras, Colemanito, Promontorio, Loma Verde, Durazno and Impulsora. This program is designed to guide a diamond drilling program scheduled for this year.
Coneto is a mining camp with a history going back over 400 years to the days of the Conquistadores. The epithermal silver-gold quartz veins have been documented in a window of exposed Tertiary Lower Volcanic Sequence andesites underlain by Cretaceous sedimentary rocks. Very little diamond drilling had been carried out in the past, but there is encouragement in the results. For example, records of drilling in the 1970s yielded 3.15 metres grading gold 2.35 g/t and silver 224 g/t for a silver-equivalent of 365 g/t in the Loma Verde area, and 10.97 metres grading gold 2.29 g/t and silver 71.7 g/t for a silver-equivalent of 209 g/t in the Durazno area.
Ben Whiting, Chief Geologist of Orex, states; "Overall, in spite of its long history, Coneto is a very under-tested mining camp and has great exploration potential. Comparative models of the geology of Coneto are similar to La Preciosa and La Pitarrilla mining camps. Thus, we plan to test both gold-silver veins and broader stockwork/replacement targets in future exploration programs."
Ben Whiting, P.Geo., is the Qualified Person and takes responsibility for the technical disclosure in this news release.
About Orex Minerals Inc.
Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and gold-silver properties in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orex Minerals Inc. at (604) 684-4691 or
Via email at or visit our website on line at www.orexminerals.com
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. Orex relies upon litigation protection for forward-looking statements.
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.
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