Cipher Resources Inc DREXF

DOX News 18.9% Fe, 0.7% Cu

[GDAWG77]

Dorex drills 6.8 m of 18.9% Fe, 0.7% Cu at Carmelita

2008-06-16 15:40 MT - News Release

Mr. Peter Walton reports

DOREX INTERSECTS 18.9% IRON AND 0.7 % COPPER OVER 6.8 METRES ON ITS CARMELITA IOCG PROJECT, CHILE

Dorex Minerals Inc. has received the analytical results from the first two of seven widely spaced diamond drill core holes from its 100-per-cent-owned Carmelita property. The property is located within the Chilean iron belt at the south end of the Atacama Desert, Chile. This belt is host to significant copper and iron mines over a 350-kilometre length. The Candelaria and Manto Verde copper mines with iron byproducts are located in the northern end of the belt. Farther to the south, nearer Carmelita, there are significant iron producers like El Tofo, El Pelito and El Romeral. These are all classified as iron oxide-copper-gold (IOCG) deposits.

Peter Walton, president and chief executive officer, states: "The geology and analytical results are encouraging for a classic IOCG-style mineralization. It is especially encouraging that the mineralization style has been intersected by all the holes within an 11-square-kilometre area tested during this drilling. The remaining results will be announced when available."

[GDAWG77]

so 23 feet of 19% Iron, .7% copper and ALSO there was .12g/t of Au to add to that. Rest of the holes will be sweet!

[bullorbear1]

"It is especially encouraging that the mineralization style has been intersected by all the holes within an 11-square-kilometre area tested during this drilling."All holes have IOCG mineralization, that's 7 out 7 = 100% success .... not too many Jr.'s can do that !This is a new discovery of an IOCG type deposit and a great step for Dorex.Congratulations DOX and all shareholders !

[GDAWG77]

Im trying to find out the price of iron per pound, but I cant find it. I keep seeing China high demand for iron, iron and coal 2008 hot commodities, everything else that is good! This is awsome!

[bluestar]

not bad at all. the next 5 holes should be good as well. they will do further drilling for sure. should see some increase in sp on these results.remember that there are very few shares for sale.