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Orex Minerals drills silver up to grading 237 grammes

Wednesday, October 19, 2016 12:41
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Canasil Resources Inc. (CVE:CLZ) optionee Orex Minerals Inc. (CVE:REX) has completed the phase III core drilling program at the Sandra-Escobar project in Durango, Mexico, at hole SA-16-062.

Holes SA-16-054 to SA-16-060 were drilled in the Main and Cerro Chato zones in the southeastern region of the project. Drilling for phase IV is planned to start in early November. The project is being advanced by Orex under an option agreement with Canasil announced on Sept. 15, 2015.

A highlight for this batch of holes is SA-16-057 in the south side of the Main zone, which yielded 41 metres core length (33.58 metres true thickness) grading 108 grams per tonne (g/t) silver, starting 45 metres below surface. This includes 11.00 metres core length (9.01 metres true thickness) grading 237 g/t silver.

Holes SA-16-054 and 055 are reconnaissance holes on the eastern side of the Cerro Chato zone, located on a separate hill on the northwestern extension of the Main zone. While these returned generally thinner and lower grade silver intercepts than seen in the Main zone, they confirm that the favourable horizon in this area is mineralized and the structure is similar including both the upper and lower mineralized intervals. Further exploration is warranted in this area.

Drill hole SA-16-056 was drilled from the same collar location as SA-16-057 but was lost just short of the target depth. Holes SA-16-057 to 060 were the farthest step-outs to date on the southern side of the Main zone to test continuity of mineralization toward the south of this zone.

Additional activities reported by Orex on the Sandra-Escobar exploration program include an airborne magnetic and radiometric survey being flown by Geotech Ltd. this week and an initial resource estimate being prepared by Mining Plus, reported to be due for completion around the end of October. Metallurgical work is also currently in progress.

Silver mineralization is hosted in a rhyolite volcanic dome. In this area an altered and highly permeable crystal lithic tuff 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.

Story by ProactiveInvestors


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