DOX.V News - Starts Drilling on Lumby Bufo
DOREX MINERALS INC.
#705-1060 Alberni Street
Vancouver, Canada, BC
V6E 2K4
dorexinc@gmail.com
TSX-V: DOX
FSE : A9L
NEWS RELEASE
DOREX & BELMONT START DRILLING ON LUMBY/BUFO PROPERTY
Vancouver, BC November 23, 2010 - Dorex Minerals Inc. - TSX.V- “DOX” (the “Company” or “Dorex”) and Belmont Resources Inc. (“Belmont”) are pleased to announce that they have commenced a minimum 2,450 meter drilling program on the Lumby/Bufo Property (the “Property”) consisting of 23 contiguous claims (3,040 ha) located approximately 35 km northeast of the town of Atikokan, Ontario.
The drilling has commenced and will consist of eight or more holes, focusing on four drilling targets. The first drill target consisting of three holes is focused on testing an 800-meter long Max Min and VLF EM conductor under the north portion of Bufo Lake located on the west part of the property.
Belmont’s five-hole spring 2010 drill program completed on the south portion of Bufo Lake was successful in defining a 200 meter wide multiple gold bearing system contained in sheared, carbonitized, sericitized, silicified and sulphide bearing (pyrite and chalcopyrite) quartz-carbonate veins contained within the east-west striking mafic and felsic volcanic and intrusive rocks located near the Lumby Lake volcanic- Marmion Granite contact. Two east-west striking gold and base metal bearing felsic strata can now be traced easterly on this part of property from Bufo Lake to the east end of Spoon Lake a total strike length of 8.5 km. The 2010 drilling program within the southern most horizon returned gold values up to 17.87 g/t over 1.5 meters and silver values up to 11.65 g/t over 0.55 meters. The high grade silver–base metal showing at the east end of Lumby Lake forms part of this southerly gold-bearing felsic horizon intersected in the 2010 spring drilling.
The northeast structure located under Bufo Lake is suspected of being one of several gold-bearing structures which hosts the Osisko Hammond Reef deposit. These northeast structures intersect the gold and silver-base metal bearing felsic strata located near the Marmion Batholith-Lumby Lake Meta-volcanic contact.
To earn an initial 49% interest in the Property, Dorex will complete $1,500,000 in exploration expenditures by December 31, 2011 of which $500,000 must be incurred by February 28, 2011.
The Lumby-Bufo Property is contiguous with and on strike to the north-northeast with the Hammond Reef deposit, where Osisko is presently focused on expanding their gold resources. A preliminary assessment (“PA”) study was completed on Hammond Reef on November 12, 2009, resulting in a NI 43-101 compliant Inferred Resource estimate of 6.7 million ounces of gold (259.4 million tonnes @ 0.8 g/t gold, using a 0.3 g/t Au cutoff).
This press release has been reviewed and approved by Raymond A. Bernatchez, P.Eng. Consulting Geologist and a qualified person as defined in NI 43-101.
About Dorex Minerals
Dorex Minerals Inc. is a base and precious metals exploration and development Company listed on the TSX Venture, Frankfurt Exchange under the symbol "DOX" and code "A9L". The Company is focused on discovering and advancing mineral properties by utilizing modern geological science. Managed by a team of experienced professionals, the Company's corporate philosophy is to build shareholder wealth through the acquisition and development of high quality exploration projects. Dorex's portfolio is currently focused in Canada and the Slovak Republic.
Further information about Dorex can be obtained from the website www.dorex.ca, email dorexinc@gmail.com or by phoning 604-688-1160.