grassroots Exploration objectives for our Coneto Silver-Gold Project are similar to our sister project - Orko Silver Corp's La Preciosa Silver-Gold Deposit. Orex is exploring for a target deposit size of more than 100 million oz of silver equivalent.
ASSOCIATION AGREEMENT WITH FRESNILLO PLC
Orex has signed an Association Agreement with Fresnillo PLC to explore the Coneto Silver-Gold Project. Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approx. 17,600 ha (43,000 acres) and cover more than 40 known mineralized epithermal quartz veins. A joint technical committee, with both Orex and Fresnillo representation, will manage Coneto.
Fresnillo PLC will complete the following work:
- High-resolution mapping
- Negotiate community permits
- Continue environmental studies
- Conduct airborne geophysical survey
Fresnillo plans to spend up to US $6,000,000 on exploration on the Coneto Silver-Gold Project in the next 3 years in order to earn 55% ownership, and has the right to earn 70% ownership by advancing Coneto to the pre-feasibility stage, or by spending US $21,000,000.