Fieldwork Commences on the San Luis del Cordero Silver-Copper-Zinc Project in Durango, Mexico
September 10, 2018
Fieldwork Commences on the San Luis del Cordero Silver-Copper-Zinc Project in
Durango, Mexico
Vancouver, BC -- Orex Minerals Inc. -- (TSXV: REX -- OTCQX: ORMNF) ("Orex"), is pleased to
announce that fieldwork has commenced on the San Luis del Cordero Project in Durango,
Mexico. This project is a skarn and epithermal vein hosted silver-copper-zinc district, located 155
kilometres northeast of the City of Durango in the Mesa Central of northcentral Mexico.
Orex has an option to acquire 100% interest in the project from Exploraciones del Altiplano S.A.
de C.V. (“Altiplano”), as outlined in a news release dated 26 January 2018. Environmental
impact reports and biological survey assessment have been submitted to the Mexican federal
agency SAMARNAT.
Orex's President, Gary Cope says, "We look forward to the start of a new exploration program
on this promising silver-copper-zinc project in the prolific Silver Trend of Mexico."
Project Description
The Cordero project has undergone several phases of exploration, with multiple targets yet to
be explored. Mineral concessions cover 2,825 hectares and include the full extent of the known
mineralization. Old mine workings and mineralized showings wrap around a Tertiary quartz-
feldspar-porphyry intrusive. Jurassic and Cretaceous country rock formations include limestone
and calcareous sandstone and shale units. Diamond drilling of 62 holes from the period 2000 to
2016 total approximately 16,400 metres.
There is a Technical Report on a Mineral Resource Estimate for the project, compliant with NI43-
101 and dated 2014, containing an Indicated Resource of 662,600 tonnes grading Ag 121 g/t, Cu
0.78 % and Zn 1.06 %, for a silver-equivalent of 240 g/t and 5.1 million ounces silver-equivalent.
In addition, there is an Inferred Resource of 2,785,300 tonnes grading Ag 144.4 g/t, Cu 0.75 %
and Zn 1.45 %, for a silver-equivalent of 273 g/t and 24.4 million ounces silver-equivalent.
For the purposes of silver-equivalent in the 2014 report, metal prices of Ag=$19/oz, Cu=$3.00/lb
and Zn=$0.90/lb were applied. This resource estimate was performed using a cut-off of 85 g/t
silver equivalent. The technical report was written by T.W. Hodson, P.Geo., an independent
Qualified Person, and has an effective date of 1 October 2014.
Orex considers the 2014 resource estimate as a “Historical Resource Estimate” performed by
previous operators. There has been drilling since that date, and as such this resource estimate
should not be relied upon as current. However, it is useful as an exploration guide for future
programs.
Geological comparisons have been drawn between the San Luis del Cordero skarn and vein
hosted mineralization and the mineralization styles at Cerro de las Minitas of Southern Silver
Exploration Corp in Durango State and the San Martin – Sabinas mining district of Industrias
Peñoles in Zacatecas State. Both of these mining districts are also on the Mesa Central.
Technical Information and Qualified Person
Ben Whiting, P.Geo., Vice President of Exploration for Orex Minerals Inc., is a Qualified Person as
defined in NI 43-101 and takes responsibility for the technical disclosure contained within this
news release.
Community Relations
As a part of ongoing community relations, surface access agreements have been signed with the
Ejido of San Luis del Cordero, as well as individual ranch owners. Orex has also provided for the
construction of public toilet facilities near the Plaza des Armas (central square) of the town of
San Luis del Cordero.
Granting of Options
Orex announces that it has granted 500,000 incentive stock options to consultants to purchase
an aggregate of up to 500,000 common shares in the capital of Orex. The incentive stock options
have an exercise price of $0.10 per share, expire five years from the date of grant and vest
immediately. As a result of this option grant, Orex has stock options outstanding that are
exercisable for up to 10,430,000 common shares, representing 9.2% of the current issued and
outstanding share capital.
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: Three projects are located
in Durango State, Mexico, including the Coneto Silver-Gold Project as a joint venture with
Fresnillo PLC, the Sandra Escobar Silver Project as a joint venture with Pan American Silver Corp.
and Canasil Resources Inc., and the San Luis del Cordero Silver-Copper-Zinc Project. The
Company’s fourth project is the Jumping Josephine Gold Project in British Columbia, Canada.
Orex is under the management provided by the experienced Belcarra Group Management Ltd.
(“Belcarra Group”). The Belcarra Group is comprised of highly qualified mining and financial
professionals.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
For further information, please contact Orex Minerals Inc. at (604) 687-8566 x227,
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.
Note: Mineral Resources are not Mineral Reserves and thus have not demonstrated economic viability.
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.