Trench SN-9 yielded an intercept of 3.45 metres grading Au 6.79 g/t and Ag 279 g/t for a gold-equivalent of 11.86 g/t, or a silver-equivalent of 652 g/t.
Trench LV-24 yielded an intercept of 3.20 metres grading Au 1.20 g/t and Ag 240 g/t for a gold-equivalent of 5.56 g/t, or a silver-equivalent of 306 g/t.
According to Orex’s President, Gary Cope, “Detailed surface channel sampling results have confirmed the precious metal potential for structures at Coneto. The Technical Committee has recommended a program for the next 6 months, consisting of geological mapping and sampling, with renewed diamond drilling scheduled for 2014. We look forward to more success on the Coneto Project.”
Loma Verde is a north-south striking, steeply dipping epithermal vein, 1 km west of the village of Coneto, which has been tested in 50 trenches. Santo Niño is a similar structure on the west side of Cerro La Bufa, 3 km northwest of the village of Coneto, which has been tested by 40 trenches. As the veins are near-vertical dip, the channel lengths approximate true thicknesses.
The following table highlights key intercepts along the trenching of the Loma Verde and Santo Niño structures. Full details and a trenching location map have been prepared for the Orex website.
| Channel | Length (m) | Au (g/t) | Ag (g/t) | Au-Eq (g/t) | Ag-Eq (g/t) |
|---|---|---|---|---|---|
| Loma Verde | |||||
| LV-3 | 5.00 | 1.20 | 43 | 1.98 | 109 |
| LV-7 | 10.00 | 0.93 | 75 | 2.29 | 126 |
| LV-14 | 3.30 | 1.00 | 196 | 4.55 | 251 |
| LV-15 | 4.80 | 1.22 | 187 | 4.62 | 254 |
| LV-16 | 6.60 | 0.35 | 86 | 1.92 | 106 |
| LV-19 | 3.40 | 0.43 | 171 | 3.55 | 195 |
| LV-24 | 3.20 | 1.20 | 240 | 5.56 | 306 |
| LV-33 | 7.75 | 1.73 | 97 | 3.49 | 192 |
| LV-36 | 5.00 | 2.33 | 72 | 3.63 | 200 |
| LV-44 | 3.05 | 1.43 | 77 | 2.82 | 155 |
| LV-45 | 3.20 | 1.29 | 85 | 2.84 | 156 |
| LV-48 | 2.10 | 2.43 | 206 | 6.17 | 339 |
| Santo Niño | |||||
| SN-2 | 6.30 | 0.20 | 65 | 1.37 | 76 |
| SN-5 | 7.90 | 0.09 | 64 | 1.25 | 69 |
| SN-7 | 1.95 | 2.52 | 58 | 3.58 | 197 |
| SN-8 | 7.05 | 0.39 | 155 | 3.21 | 176 |
| SN-9 | 3.45 | 6.78 | 279 | 11.86 | 652 |
| SN-14 | 3.75 | 1.18 | 137 | 3.67 | 202 |
| SN-20 | 3.90 | 0.62 | 117 | 2.74 | 151 |
| SN-22 | 2.70 | 0.13 | 113 | 2.18 | 120 |
| SN-36 | 2.55 | 0.52 | 88 | 2.11 | 116 |
| SN-38 | 3.20 | 2.56 | 15 | 2.83 | 156 |
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 extensive 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 Loma Verde, as announced in news releases (dated: 2012-11-07, 2010-08-09 and 2010-07-06)..
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, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo PLC, and two copper-gold projects in British Columbia, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
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.
