Phase I Drill Results released this morningOrex drills 1.4 m of 330.5 g/t Ag at Santa Cruz
2009-06-25 08:49 ET - News Release
Mr. Gary Cope reports
OREX COMPLETES PHASE-I DIAMOND DRILLING AT SANTA CRUZ
Phase I diamond drilling program has been completed at Orex Minerals Inc.'s Santa Cruz project in Durango state, Mexico, a joint venture with Silverex SA de CV.
Diamond drilling was performed by Major Drilling Group International Inc. and took place in the Western structural district. This initial phase of drilling consisted of 3,070 metres in 12 holes, starting in the Zambranena area and continuing northwest toward the Carmen area.
The Zambranena structure is interpreted to be a fault zone, with quartz veining at the contact between an andesite unit and an altered dioritic intrusive. The intrusive also contains multiple zones of quartz veinlet and stringer mineralization. All 12 drill holes hit the target structure, but most were low grade. The best Zambranena intercept was in hole SC-09-08 which yielded 1.40 metres (true thickness 0.90 metre) grading Au 0.596 g/t and Ag 330.5 g/t for a silver-equivalent of 336.2 g/t.
Within the dioritic intrusive were intervals of 2.60 metres (true thickness 1.67 metres) grading 3.900 g/t Au and 78.6 g/t Ag for a silver-equivalent of 312.6 g/t, plus 2.70 metres (true thickness 1.74 metres) grading 0.199 g/t Au and 206.4 g/t Ag for a silver-equivalent of 218.3 g/t.
Considering the intrusive as a potential bulk tonnage target, hole SC-09-08 yielded 62.60 metres (true thickness 40.23 metres) grading 0.302 g/t Au and 42.1 g/t Ag for a silver equivalent of 60.2 g/t.
SUMMARY TABLE OF INTERCEPTS Core True From To length width Au Ag Ag-EqHole m m m m g/t g/t g/tSC-09-01 76.05 78.60 2.55 1.96 0.122 47.3 62.3SC-09-02 83.40 85.40 2.00 1.53 0.066 4.1 8.0SC-09-03 132.20 135.80 3.60 1.80 0.468 105.9 134.0SC-09-04 139.30 141.90 2.60 1.30 0.097 13.1 18.9SC-09-05 154.85 159.30 4.45 3.72 0.036 10.5 12.6SC-09-06 222.60 226.00 3.40 1.95 0.080 11.1 15.9 247.80 249.10 1.30 0.75 0.077 163.8 168.4 SC-09-07 132.80 133.20 0.40 0.35 0.197 60.0 71.8 184.10 185.40 1.30 0.65 0.183 124.5 135.5 243.70 244.70 1.00 0.87 0.152 147.0 156.1 272.40 272.90 0.50 0.43 0.110 293.0 299.6 SC-09-08 193.50 194.90 1.40 0.90 0.596 330.5 336.2 202.90 205.60 2.70 1.74 0.627 115.7 153.4 210.40 213.00 2.60 1.67 3.900 78.6 312.6 219.10 221.80 2.70 1.74 0.199 206.4 218.3 229.30 229.90 0.60 0.39 0.382 204.0 226.9 239.40 240.30 0.90 0.58 0.144 185.0 193.6 252.50 256.10 3.60 2.31 0.986 117.1 176.2 300.80 301.30 0.50 0.32 0.725 171.0 214.5 SC-09-09 113.50 114.60 1.10 0.95 0.062 19.1 22.8SC-09-10 160.00 160.80 0.80 0.51 0.024 2.8 4.2SC-09-11 148.35 155.50 7.15 6.72 0.097 33.4 39.2SC-09-12 207.90 214.90 7.00 4.50 0.076 10.3 14.9
Located in the Sierra Madre Occidental Mountains, Otaez municipality, midway between Tayoltita (San Dimas) and Topia mining camps, the Santa Cruz project is in one of the world's most prolific mineral belts. Santa Cruz is an epithermal gold-silver camp divided into three structural districts, Eastern, Central and Western, as well as the previously operating Santa Cruz mine.
Silver-equivalent (Ag-Eq) for the purposes of this sampling program is defined as silver grade plus 60 times gold grade. Metallurgical recoveries and net smelter returns are assumed to be 100 per cent for the silver-equivalent value. Base metal values are not included in the silver-equivalent.
Ben Whiting, PGeo, is the qualified person and takes responsibility for the technical disclosure in this news release.
We seek Safe Harbor.