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Orex Minerals Inc.
Summary
| Project: | Sandra Escobar | |
|---|---|---|
| Deposit: | Puma Ridge | |
| Location: | Mexico | |
| Commodities: | Silver | |
| Date: | 11/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-11-2016: Orex Minerals Inc. announces an Exploration/Drilling Update report for its Puma Ridge deposit at the Sandra Escobar project. Drilling results incl. 10.89m @ 55g/t Ag from 2.48m. Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) (“Orex”), has co | |
| Resources: | (Resource, Inf): 9.8Mt @ 106g/t Ag for 33.3Moz Ag contained | |
| CP/QP: | [Overall Report]: Ben Whiting, Dale Brittliffe (Internal) | |
| ABSTRACT: | Vancouver, BC – Orex Minerals Inc. – (TSX-V: REX) (“Orex”), has commenced a new round of diamond drilling on the Sandra Escobar Silver Project in northern Durango State, Mexico. This Phase-IV drilling program will utilize two drill rigs and consist of approximately 4,000 metres in 10 to 15 drill holes. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. – (TSX.V: CLZ) (“Canasil”). To date, Orex has drilled 8,372 metres in 62 diamond drill holes in the southeastern region of the project. The first 59 diamond drill holes formed the basis for an initial Resource Estimate on the “Boleras Silver Deposit.” At a “Base Case” of 45 g/t Ag cut-off, the Inferred Resource Estimate yielded 9.8 million tonnes grading 106 g/t Ag for a total of 33.3 million ounces of silver (See Orex news release of 31 October 2016). Orex’s President, Gary Cope says, “We are pleased that diamond drilling is once again underway on Sandra Escobar. This next phase will include both drilling adjacent to the current Boleras Silver Deposit, as well as several deeper reconnaissance drill holes.” Assay results are now available for the final two reconnaissance drill holes from the Phase-III diamond drilling program. Hole SA-16-061 is located along Puma Ridge, 300 metres southeast of the Burro Zone and 250 metres southwest of the Main Zone. SA-16-061 yielded 14.52 metres core length (10.89 metres true thickness) from surface, grading 55 g/t Ag, including 4 metres core length (3 metres true thickness) grading 111 g/t Ag. More drilling is warranted in the Puma Ridge Zone. | |
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