VANCOUVER, BC, Sept. 14,
2023 /CNW/ - Orex Minerals Inc. (the
"Company" or "Orex") (TSXV: REX) (OTCQB: ORMNF) is
pleased to announce that hyperspectral alteration studies are now
underway on the Coneto Gold-Silver Project in central Durango
State, Mexico. The Coneto Project
is operated by Exploraciones y Desarrollos Mineros Coneto SAPI de
CV, a joint venture between Orex Minerals Inc. (45%) and
Fresnillo plc (55%).
Orex's President & CEO, Ben
Whiting, P.Geo., said; "This is a positive step in the
advancement of the Coneto Project. An understanding of the
alteration of host rocks, due to hydrothermal fluid flow, is
important for identifying feeder systems for the gold and silver
mineralization."
Both direct Corescan of selected drill core from silver and gold
mineralized zones, plus a SpecTIR Survey covering district scale
mapping, will be conducted. These methods aid in mineral
identification through Short-Wave Infra-Red (SWIR) and Visible Near
Infra-Red (VNIR) analysis.
CONETO GOLD-SILVER PROJECT, DURANGO, MEXICO
The Coneto Project consists of 4,800 hectares (11,860 acres) of
mineral concessions, covering a low to intermediate sulphidation
vein system, which is hosted in Tertiary age andesites and altered
rhyolites of the Lower Volcanic Series. This is exposed in a 17 km
by 4 km northwesterly oriented erosional window, surrounded by
Upper Volcanic Series rhyolites. Over 40 discrete, steeply dipping
veins have been identified on the property.
Drilling to date by Orex and Fresnillo consists of 106 diamond drill holes
totaling 38,613 metres. This provided the basis for mineralogical
and metallurgical studies, as well as the first independent NI
43-101 Inferred Mineral Resources estimate, prepared by SRK
Consulting, dated 20 October
2021.
Inferred Mineral Resources on six structures totals
5.33 million tonnes, grading gold 1.67 g/t and silver 112 g/t, for
a gold-equivalent of 3.15 g/t. Contained metal totals 286,000
ounces gold and 19,111,000 ounces silver, for a gold-equivalent
of 538,000 ounces.
Ben Whiting, P.Geo., is the
Qualified Person as defined in NI 43-101 and takes responsibility
for the technical disclosure contained in this news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. is a mineral exploration company focused on
precious and base metals exploration in Mexico and Canada. Orex has several current projects: Two
projects are located in Durango State, Mexico, the Sandra Silver-Gold Project with
Pan American Silver Corp. and the Coneto Gold-Silver Project with
Fresnillo PLC. The third project is the Jumping Josephine Gold
Project in British Columbia,
Canada. Orex is managed by the experienced Belcarra Group
Management Ltd. (the "Belcarra Group"), comprised of highly
qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS
Ben Whiting. P.Geo.
President and CEO
FORWARD LOOKING STATEMENTS
This News Release may contain forward-looking statements
including, but not limited to, statements with respect to the
planned program and budget for the Project. 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.
For additional information on risks and uncertainties, see the
Company's most recently filed annual management discussion and
analysis ("MD&A"), which is available on SEDAR
at www.sedar.com and on the Company's website
at www.orexminerals.com. The risk factors identified in the
MD&A are not intended to represent a complete list of factors
that could affect the Company.
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.
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content:https://www.prnewswire.com/news-releases/hyperspectral-alteration-studies-are-underway-on-the-coneto-gold-silver-project-in-durango-state-mexico-301927832.html
SOURCE Orex Minerals Inc.