Orex Minerals Inc.: Drilling Program to Start in May for Over 10,000 Metres on
the Coneto Gold-Silver Project in Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/14 -- Orex
Minerals Inc. - (TSX VENTURE:REX) ("Orex"), is pleased to announce
that the 2014 diamond drilling program will begin in May on the
Coneto Gold-Silver Project in Durango State, Mexico. The program will
consist of approximately 10,800 metres in 28 holes, located in five
areas on the Coneto property. A technical committee, with
representation of both Orex and its project partner Fresnillo plc
(LSE:FRES) ("Fresnillo"), is planning the Coneto exploration program,
with Fresnillo as the operator.
According to Orex's President, Gary Cope, "Following the results of
the first two drilling phases, this new drilling program will expand
our understanding and lead to the discovery of new gold and silver
mineralization at Coneto. We look forward to continuing success on
the Coneto Project."
Previously announced Phase-I and Phase-II drilling programs consisted
of 17,000 metres in 52 drill holes. This new Phase-III drilling
program has been planned for 28 diamond drill holes in five areas,
including La Bufa-Santo Nino-Reliz, La Palma, Descubridora-El Indio,
Loma Verde and Impulsora-Promontorio. The two objectives of this
program are to continue to test mineralization along the known veins,
and to test, with deeper holes, the unconformity contact between the
Tertiary andesitic volcanics and the underlying Cretaceous
Exploration programs have also begun on Orex's Los Crestones
Gold-Copper-Silver Project in Sinaloa State, Mexico. Orex has
commissioned MPX Geoservices Ltd. to complete a helicopter-borne
geophysical survey over Los Crestones. The proposed airborne magnetic
and radiometric survey totals 993 line-km and will test the entire
4,168 hectare property at 50m line spacing. The survey is scheduled
to be flown in mid-April.
Orex has decided to terminate the option agreement on the Persistence
Copper-Gold Property in northwestern British Columbia, Canada, and
have notified the vendor Cazador Resources Ltd.
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. The project is located in the Mesa Central, on the eastern
flank of the Sierra Madre Occidental Mountains.
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
LOS CRESTONES GOLD-COPPER-SILVER PROJECT - SINALOA, MEXICO
Orex Minerals Inc. owns 100% of Los Crestones Project, a gold, copper
and silver property in the "Gold-Silver Trend" on the western slope
of the Sierra Madre Occidental mountains, northern Sinaloa, Mexico.
It is east of El Gallo, north of Tameapa and southeast of San Jose de
Gracias. The current interpretation of mineralization is that of
north-south oriented structural zones hosting quartz veins, quartz
stockworks and breccia fill, associated with dykes and porphyry-style
mineralization. Three structural zones, Corona, Bohemia and Indio,
are elongate structures recognized on surface as erosion-resistant
silicified ribs or "crestons". In addition several other sub-parallel
structures are known on the property.
The 4,168 hectares property is currently undergoing geological and
geochemical mapping and sampling, which will be followed by a
geophysical program and a Phase-II diamond drilling program. Results
of the Phase-I diamond drilling program at Los Crestones were
summarized in a news release on 15 January, 2014.
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.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX VENTURE:REX) is a Canadian-based junior
exploration company comprised of highly qualified mining
professionals. The Company has several current projects: the Barsele
Gold Project in Sweden, the Los Crestones Gold-Silver Project in
Sinaloa, Mexico, the 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
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.
Orex Minerals Inc.
(604) 687-8566 x227
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