- Orex Minerals is set to acquire the Valenciana gold-silver project in Mexico
- The property hosts high-grade epithermal gold and silver veins, with base metals such as lead and zinc, in cretaceous sedimentary units and tertiary rhyolitic and monzonitic intrusive rocks
- The Valenciana project consists of 277.18 hectares of mineral concessions
- Shares of Orex Minerals are unchanged at C$0.13 and are down 23.53 per cent year-to-date
Orex Minerals (TSXV:REX) is gearing up to officially acquire 100 per cent of the Valenciana gold-silver project in Mexico.
In a news release, the company stated its newly acquired property hosts high-grade epithermal gold and silver veins, with base metals such as lead and zinc, in cretaceous sedimentary units and tertiary rhyolitic and monzonitic intrusive rocks. Notably, the property is ideally located on the Mesa Central within Mexico’s prolific “Silver Trend.”
“This is a time of opportunities in the Mexican mining industry. As such, we are looking at under-explored prospects in the major mineral belts,” Ben Whiting, CEO of Orex Minerals, said in a statement. “The Valenciana Mining District fits that description, and this is an excellent opportunity to restart exploration at Valenciana.”
Spanning 277.18 hectares of mineral concessions, the Valenciana property is near the village of Valenciana in Mexico’s northern Zacatecas state. The property’s central target area covers 2.7 kilometres of the main east-southeast Valenciana vein system.
A previous exploration completed in 1996 by Pan American Silver and La Cuesta International included 10 diamond drill holes where multiple base and precious metal mineralized intercepts were found.
As recently as 2003, Silver Standard Resources drilled nine shallow reverse-circulation holes.
Based out of Vancouver, Orex Minerals is focused on precious and base metals exploration in Mexico and Canada. Two of its projects are in the Durango state of Mexico, while its third project, the Jumping Josephine Gold project, is in British Columbia.
Shares of Orex Minerals are unchanged at C$0.13 and are down 23.53 per cent year-to-date.
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