Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) (“Orex“), is pleased to announce that additional trenching and reconnaissance channel sampling have extended the target for over 1.6 kilometres strike-length on the Impulsora structures of the Coneto Gold-Silver Project in Durango, Mexico. Results from the northernmost 380 metres were released on 20 August 2013. The following results are in addition to the previously released results and are all to the southeast. A technical committee, with representation of Orex and its project partner Fresnillo plc (LSE:FRES) (“Fresnillo”), is managing the Coneto exploration program.
Trench Impul-104 yielded an intercept of 1.50 metres (true thickness 1.47 metres) grading Au 28.0 g/t and Ag 5 g/t for a gold-equivalent of 28.1 g/t, or a silver-equivalent of 1,545 g/t.
Reconnaissance channel #329281 yielded an intercept of 0.85 metres (true thickness 0.83 metres) grading Au 0.39 g/t and Ag 452 g/t for a gold-equivalent of 8.61 g/t, or a silver-equivalent of 473 g/t.
According to Orex’s President, Gary Cope, “The strike-length of the Impulsora Structures is impressive. Further drilling of this target area is warranted. 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. It has been tested in 131 trenches and 60 reconnaissance outcrop channel samples. Results from the first 93 trenches were announced in the 20 August 2013 news release. 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).
Southwesterly striking normal faults are interpreted to have disrupted the main Impulsora area from Impulsora-SE area and Impulsora-Sur area. Based on the reconnaissance channel sampling results, there is a stronger silver signature in the Impulsora-SE area and a stronger gold signature in the Impulsora-Sur area.
The following table highlights key intercepts along the trenching and reconnaissance channel sampling of the Impulsora structures. Full details and a trenching location map have been prepared for the Orex website.
Data presented here for the Impulsora structure trenching program are also 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-V: 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
Trench Impul-104 yielded an intercept of 1.50 metres (true thickness 1.47 metres) grading Au 28.0 g/t and Ag 5 g/t for a gold-equivalent of 28.1 g/t, or a silver-equivalent of 1,545 g/t.
Reconnaissance channel #329281 yielded an intercept of 0.85 metres (true thickness 0.83 metres) grading Au 0.39 g/t and Ag 452 g/t for a gold-equivalent of 8.61 g/t, or a silver-equivalent of 473 g/t.
According to Orex’s President, Gary Cope, “The strike-length of the Impulsora Structures is impressive. Further drilling of this target area is warranted. 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. It has been tested in 131 trenches and 60 reconnaissance outcrop channel samples. Results from the first 93 trenches were announced in the 20 August 2013 news release. 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).
Southwesterly striking normal faults are interpreted to have disrupted the main Impulsora area from Impulsora-SE area and Impulsora-Sur area. Based on the reconnaissance channel sampling results, there is a stronger silver signature in the Impulsora-SE area and a stronger gold signature in the Impulsora-Sur area.
The following table highlights key intercepts along the trenching and reconnaissance channel sampling of the Impulsora structures. Full details and a trenching location map have been prepared for the Orex website.
| Structure | Channel No. | Length (m) | True Width (m) | Au (g/t) | Ag (g/t) | Au-Eq (g/t) | Ag-Eq (g/t) |
|---|---|---|---|---|---|---|---|
| TRENCH | |||||||
| Impulsora | Impul-95 | 1.25 | 1.23 | 1.54 | 37 | 2.22 | 122 |
| Imp-SE | Impul-104 | 1.50 | 1.47 | 28.00 | 5 | 28.10 | 1,545 |
| Imp-SE | Impul-106 | 0.85 | 0.84 | 0.94 | 124 | 3.20 | 176 |
| Imp-Ramal | Impul-110 | 1.25 | 1.00 | 1.31 | 29 | 1.83 | 101 |
| Imp-SE | Impul-118 | 2.15 | 2.11 | 0.83 | 126 | 3.12 | 172 |
| Imp-SE | Impul-119 | 0.65 | 0.64 | 0.88 | 129 | 3.23 | 178 |
| Imp-SE | Impul-120 | 0.95 | 0.93 | 0.77 | 92 | 2.45 | 134 |
| Imp-SE | Impul-121 | 0.75 | 0.74 | 0.71 | 92 | 2.78 | 131 |
| Imp-SE | Impul-122 | 1.05 | 1.03 | 0.78 | 98 | 2.56 | 141 |
| Imp-SE | Impul-123 | 1.35 | 1.33 | 1.57 | 115 | 3.66 | 201 |
| Imp-SE | Impul-124 | 0.65 | 0.64 | 0.36 | 102 | 2.21 | 122 |
| Imp-SE | Impul-126 | 1.10 | 1.08 | 0.98 | 51 | 1.91 | 105 |
| Imp-SE | Impul-127 | 1.00 | 0.98 | 1.02 | 80 | 2.46 | 136 |
| Imp-SE | Impul-128 | 0.90 | 0.88 | 0.54 | 72 | 1.84 | 101 |
| Imp-Bajo2 | Impul-129 | 1.15 | 1.12 | 0.30 | 86 | 1.86 | 102 |
| Imp-Bajo1 | Impul-130 | 1.30 | 1.27 | 2.06 | 1 | 2.07 | 114 |
| Imp-SE | Impul-131 | 0.95 | 0.93 | 0.47 | 81 | 1.95 | 107 |
| RECON. | |||||||
| Imp-SE | 329281 | 0.85 | 0.83 | 0.39 | 452 | 8.61 | 473 |
| Imp-SE | 329283 | 0.80 | 0.78 | 0.18 | 110 | 2.18 | 120 |
| Imp-SE | 329287 | 0.85 | 0.83 | 0.95 | 108 | 2.92 | 160 |
| Imp-SE | 329301 & 2 | 2.60 | 2.55 | 0.62 | 120 | 2.79 | 154 |
| Includes | 329301 | 1.35 | 1.32 | 0.31 | 173 | 3.46 | 190 |
| Imp-S | 329318 | 1.00 | 0.98 | 1.58 | 42 | 2.35 | 129 |
| Imp-S | 329326 & 7 | 2.20 | 2.15 | 2.46 | 33 | 3.06 | 168 |
| Includes | 329326 | 1.30 | 1.27 | 3.74 | 39 | 4.45 | 245 |
| Imp-S | 329328 | 0.60 | 0.59 | 1.81 | 10 | 1.99 | 109 |
| Imp-S | 329338 | 1.60 | 1.57 | 1.35 | 40 | 2.09 | 115 |
| Imp-S | 329339 | 0.90 | 0.88 | 2.25 | 49 | 3.15 | 173 |
| Imp-S | 329342 | 1.00 | 0.98 | 3.48 | 26 | 3.95 | 217 |
| Imp-S | 329343 | 1.15 | 1.13 | 1.68 | 19 | 2.02 | 111 |
Data presented here for the Impulsora structure trenching program are also 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-V: 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
For further information, please contact Orex Minerals Inc. at (604) 687-8566,
email [email protected] or visit our website 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 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.
email [email protected] or visit our website 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 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.
