Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) ("Orex"), is pleased to announce that early surface work on the Sandra Escobar Silver Project in Durango, Mexico, has confirmed highly anomalous silver mineralization related to a rhyolite dome complex in the southeast sector. Sandra Escobar Project is a joint venture with Canasil Resources Inc. – (TSX.V: CLZ) ("Canasil").
Orex has commenced an orientation sampling program on Sandra Escobar, including check sampling of key showings, surface soil geochemistry and geological mapping (see Orex Sept 15th 2015 news release). Of immediate interest to Orex is the southeast sector of the project. This target area is characterized by a series of mineralized showings, with historical, small-scale excavations, along an approximately 700 metres long trend on the northern flank of the dome. The workings appear to loosely follow the upper contact of a grey, altered rhyolitic tuff with an overlying porphyritic rhyolite unit.
In October 2015, Orex collected 11 representative rock chip samples and one composite dump sample from workings in the target area. All of these returned highly anomalous silver, up to and including 1,128 g/t Ag over 1.30 m from sample #13103 and 920 g/t Ag over 4.5 m from sample #13104. Mineralization reported herein is related to epithermal, banded quartz veins emplaced within and cross cutting the rhyolitic tuff, breccias and flow-banded porphyritic rhyolites. Three specific areas were tested along the trend and results indicate wall-rock silver enrichment within the tuff unit. Samples were taken from within mineralized showings and are not indicative of true widths across the total apparent thickness. Given the presence of silver mineralization within the wall-rock, Orex expects true widths to exceed those quoted herein. This suggests a significant potential for bulk-tonnage silver targets.
Orex's President, Gary Cope says, "We are very pleased with the silver results to date and we will be diamond drilling targets on Sandra Escobar in the very near future."
| Sample | Width (m) | Au (g/t) | Ag (g/t) | Ba (ppm) | Cu (ppm) | Pb (ppm) | Zn (ppm) |
|---|---|---|---|---|---|---|---|
| 13101 | 5.50 | <0.010 | 189 | 3639 | 12 | 305 | 145 |
| 13102 | 1.40 | <0.010 | 210 | 1504 | 7 | 295 | 121 |
| 13103 | 1.30 | <0.010 | 1,128 | 7488 | 22 | 1900 | 697 |
| 13104 | 4.50 | <0.010 | 920 | 6874 | 37 | 2090 | 274 |
| 13105 | Dump | <0.010 | 1,436 | 8114 | 58 | 1260 | 233 |
| 13106 | 1.00 | <0.010 | 367 | 7565 | 635 | 8110 | 434 |
| 13107 | 1.20 | <0.010 | 566 | 5097 | 350 | 11200 | 516 |
| 13108 | 1.00 | <0.010 | 988 | 7783 | 201 | 978 | 350 |
| 13109 | 2.20 | <0.010 | 230 | 3166 | 135 | 3610 | 182 |
| 13110 | 1.10 | <0.010 | 705 | 7658 | 339 | 1330 | 401 |
| 13111 | 0.80 | <0.010 | 400 | >10000 | 1760 | 3480 | 1140 |
| 13112 | 0.40 | <0.010 | 370 | 5969 | 280 | 6410 | 340 |
Chip samples were obtained at each site using chisel and maul, with material collected on a clean tarpaulin prior to bagging. Care was taken to ensure a representative sample across the chosen interval and in the case of larger intervals where more than 2 kg of sample was obtained, rock chips were broken down to <3 cm size by hand, mixed manually on the tarpaulin then coned and quartered until a 2 kg sample was obtained. Samples were bagged and tagged and transported to SGS Mineral Services in Durango for analysis. In addition to multi-element ICP analysis, samples were submitted for high-grade 30g Gravimetric fire-assay analysis for silver.
Sandra Escobar Silver-Gold Project, Durango, Mexico
Sandra Escobar 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 and is 75 km west of Silver Standard's La Pitarrilla. 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.
The project consists of over 8,100 hectares of mineral concessions and covers multiple mineralized epithermal quartz veins and breccia structures. These veins 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 and silver systems in smaller rhyolite dome complexes to the southeast. Intense alteration zones and fluid flooding in permeable formations may also indicate the presence of bulk tonnage targets.
Excellent infrastructure exists in the Sandra Escobar area, including paved road access, electrical power, water and manpower from nearby communities.
Dale Brittliffe, P.Geo., and Ben Whiting, P.Geo., are Qualified Persons, as defined in NI 43-101, and take responsibility for the technical disclosure contained within this news release.
ABOUT OREX MINERALS INC.
Orex is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Orex has several current projects: the Coneto Gold-Silver Project in Durango, Mexico, a joint venture with Fresnillo PLC, Los Crestones Gold-Silver-Copper Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, Canada, plus this newest Sandra Escobar Silver Project in Durango, Mexico, with Canasil Resources Inc.
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 atwww.orexminerals.com
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.
