Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) ("Orex"), is pleased to announce that assay results for the first hole of the 2015-2016 diamond drilling program on the Sandra Escobar Project have been received. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) ("Canasil").
Hole SA-15-001 has yielded a 61 metres core length (43.1 metres true thickness) intercept grading 359 g/t silver, starting from surface. Within this is a sub-interval of 18 metres (12.7 metres true thickness) grading 748 g/t silver.
Orex's President, Gary Cope says, "This excellent high-grade and thick drilling result is the first hole in the southeastern region of the Sandra Escobar Project. Silver mineralization starts from surface in this hole. While it is still early in the program, silver has been detected in outcrops over a strike length of 700 metres."
|Sandra Escobar Project SA-15-001 Drill Hole Intercepts — 2015-2016 Program|
|Hole||From (m)||To (m)||Core Length (m)||True Thick. (m)||Ag (g/t)|
Silver mineralization is hosted on the north side of a rhyolite volcanic dome. An altered and highly permeable volcaniclastic unit contains disseminations of silver bearing minerals and broadly spaced stockwork veinlets. The current working model has a porphyritic rhyolite unit as an impermeable cap, which may have focused mineralizing fluids into the host permeable volcaniclastic unit.
Orex maintains a QA/QC sampling protocol for the diamond drilling program, including the insertion of commercial analytical standards and blank samples. Of the 61 samples included in the above intercept, 60 of the samples exceeded 100 g/t silver, thus demonstrating a strong continuity of mineralization. The detailed table of assays is included on page 3. As part of an early stage exploration program, the above results do not contain any top end truncation (capping). The diamond drilling was contracted by Kluane Drilling Ltd. and analytical testing was performed by SGS Mineral Services. Silver values were determined by fire assay with an atomic absorption finish. Multi-element analyses were also determined using a 4-acid digestion and ICP-MS (Inductively Coupled Plasma Mass Spectrometry).
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 6,976 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, the 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
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.