Diamond Drilling Resumes on the Sandra Silver-Gold Project in Durango, Mexico
Diamond Drilling Resumes on the Sandra Silver-Gold Project in
Durango, Mexico
VANCOUVER, BC
,
June 22, 2022
/CNW/ -
Orex Minerals Inc.
– (TSXV: REX) (OTCQB: ORMNF) ("
Orex
") is pleased to announce the
resumption of diamond drilling on the Sandra Silver-Gold Project in northwestern Durango State,
Mexico
. This is a joint venture between
Pan American Silver Corp. (60%) and Orex Minerals Inc. (40%). Phase-I of this new drilling program will consist of approximately 2,500 to
3,000 metres.
Orex's President & CEO,
Ben Whiting
, P.Geo., states:
"It is always exciting to start a new phase of exploration and diamond drilling is
one of the most important steps. We and our joint venture partners look forward to advancing the Sandra Silver-Gold Project."
The drilling contract has been awarded to Globexplore, an experienced diamond drilling service company, utilizing low environmental
impact, man-portable drill rigs. Globexplore has an excellent environmental, community and safety record in
Mexico
.
Throughout 2021 and into early 2022, Orex conducted a geological mapping and lithogeochemical sampling program over the combined
6,970 hectares of the Project. This program was carried out under strict COVID-19 safety protocols and was assisted by the consulting
group Geotech Evaluation Services ("GES"), who will also be assisting on this new drilling program.
To date, there have been two drilling programs on the Sandra Project. The 2011 program consisted of 11 exploratory holes for 1,849
metres and the 2015-2016 program consisted of 65 exploratory and resource definition holes for 9,821 metres, which lead to the
identification of the Boleras Silver Deposit in the southeast sector. There are multiple, untested drill targets identified on the property.
SANDRA SILVER-GOLD PROJECT,
DURANGO, MEXICO
Sandra 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
. It is also 75 km west of Endeavour Silver's La Pitarrilla deposit. 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
.
(Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Sandra Property.)
The Project covers almost 70 square kilometres of contiguous mineral concessions and includes multiple mineralized epithermal quartz
veins, disseminated horizons and breccia structures. These mineralized features 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, intrusive related vein systems to the west, and
silver-bearing 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.
An initial mineral resource estimate at Sandra was released in 2016 for the disseminated silver discovery of the Boleras Deposit. Located
at surface in the southeastern part of the Project, the Boleras Deposit contains an Inferred Resource Estimate of 9.8 million tonnes,
grading 106 g/t Ag, for a total of 33.3 million ounces of silver (see news release
31 October 2016
).
Excellent infrastructure exists in the Sandra area, including paved road access, electrical power, water and manpower from nearby
communities. Community engagement is an important part of the ongoing Environmental, Social and Governance (ESG) efforts.
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 in this news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. is a mineral exploration company focused on precious and base metals exploration in
Mexico
and
Canada
. Orex has
several current projects: Two projects are located in Durango State,
Mexico
, the Sandra Silver-Gold Project with Pan American Silver
Corp. and the Coneto Gold-Silver Project with Fresnillo PLC. The third project is the Jumping Josephine Gold Project in
British Columbia,
Canada
. Orex is managed by the experienced Belcarra Group Management Ltd. (the "
Belcarra Group
"), comprised of highly qualified
mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS
Ben Whiting
. P.Geo.
President and CEO
FORWARD LOOKING STATEMENTS
This News Release may contain forward-looking statements including, but not limited to, statements with respect to the planned program
and budget for the Project. 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.
For additional information on risks and uncertainties, see the Company's most recently filed annual management discussion and analysis
("MD&A"), which is available on SEDAR at
www.sedar.com
and on the Company's website at
www.orexminerals.com
. The risk factors
identified in the MD&A are not intended to represent a complete list of factors that could affect the Company.
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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https://www.prnewswire.com/news-releases/diamond-drilling-resumes-on-the-sandra-silver-gold-project-in-durango-mexico-301573070.html
SOURCE
Orex Minerals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2022/22/c0638.html
%SEDAR: 00013850E
For further information:
Orex Minerals Inc, at 604-687-8566 x228, email [email protected] or [email protected], or visit our
website www.orexminerals.com
CO: Orex Minerals Inc.
CNW 09:00e 22-JUN-22