Kincora Copper

Orex Minerals Commences Phase-IV Diamond Drilling at Sandra Escobar Project

Nov. 7, 2016 - Orex Minerals Inc. (TSX-V: REX) ("Orex"), has commenced a new round of diamond drilling on the Sandra Escobar Silver Project in northern Durango State, Mexico. This Phase-IV drilling program will utilize two drill rigs and consist of approximately 4,000 metres in 10 to 15 drill holes. The Sandra Escobar Project is being advanced by Orex under an option agreement with Canasil Resources Inc. (TSX.V: CLZ) ("Canasil").

To date, Orex has drilled 8,372 metres in 62 diamond drill holes in the southeastern region of the project. The first 59 diamond drill holes formed the basis for an initial Resource Estimate on the "Boleras Silver Deposit." At a "Base Case" of 45 g/t Ag cut-off, the Inferred Resource Estimate yielded 9.8 million tonnes grading 106 g/t Ag for a total of 33.3 million ounces of silver (See Orex news release of 31 October 2016).

Orex's President, Gary Cope says, "We are pleased that diamond drilling is once again underway on Sandra Escobar. This next phase will include both drilling adjacent to the current Boleras Silver Deposit, as well as several deeper reconnaissance drill holes."

Assay results are now available for the final two reconnaissance drill holes from the Phase-III diamond drilling program. Hole SA-16-061 is located along Puma Ridge, 300 metres southeast of the Burro Zone and 250 metres southwest of the Main Zone. SA-16-061 yielded 14.52 metres core length (10.89 metres true thickness) from surface, grading 55 g/t Ag, including 4 metres core length (3 metres true thickness) grading 111 g/t Ag. More drilling is warranted in the Puma Ridge Zone.

Sandra Escobar Project – 2015-2016 Diamond Drilling Program – Holes 61 to 62
Hole From (m) To (m) Core Length (m) True Thick. (m) Ag (g/t)
           
PUMA RIDGE ZONE
           
SA-16-061 2.48 17.00 14.52 10.89 55
  Includes 8.00 16.00 8.00 6.00 72
  Includes 8.00 12.00 4.00 3.00 111
  Includes 9.00 11.00 2.00 1.50 157
           
RECON DRILLING – (No Zone Assigned)
           
SA-16-062 No Significant Intercepts

Silver mineralization is hosted in a rhyolite volcanic dome. An altered and highly permeable crystal lithic tuff unit contains disseminations of silver bearing minerals and domains with broadly spaced stockwork veinlets. The current working model has a porphyritic rhyolite unit, with andesite sills, as an impermeable cap, which may have focused mineralizing fluids into the host permeable volcaniclastic unit. 

Orex maintains a QA/QC sampling protocol for the diamond drilling program, including the insertion of commercial analytical standards and blank samples. Analytical testing has been performed by SGS Minerals Services and Bureau Veritas. Silver values are determined by fire assay with a gravimetric finish. Multi-element analyses are also determined using a 4-acid digestion and ICP-MS (Inductively Coupled Plasma Mass Spectrometry).

The service provider, Kluane Mexico S.A. de C.V., a subsidiary of Kluane Drilling Ltd. ("KDL") is an experienced diamond drilling company, with a service and supply office in Durango, Mexico. KD-1000 and KD-2000 man-portable drill rigs will be used for HTW and NTW sized wireline core diamond drilling.  These portable rig designs minimizes the social and environmental impact of the planned drilling program.

Sandra Escobar Silver-Gold Project, Durango, Mexico

Sandra Escobar is situated north of the town of Tepehuanes, Durango, in the heart of the "Mexican Silver Trend", midway between the mining districts of Tovar and Guanacevi and is 75 km west of Silver Standard's La Pitarrilla. This prolific trend hosts some of the world's largest silver camps and deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles and Zacatecas.

The project consists of 6,333 hectares of mineral concessions and covers multiple mineralized epithermal quartz veins and breccia structures. These veins form a high level silver-gold-base metals system, hosted in andesitic and rhyolitic rocks, centered on a large rhyolite dome complex in the north and silver systems in smaller rhyolite dome complexes to the southeast. All within a large caldera complex. Intense alteration zones and fluid flooding in permeable formations indicates the presence of bulk tonnage targets. Excellent infrastructure exists in the Sandra Escobar area, including paved road access, electrical power, water and manpower from nearby communities.

The technical disclosures contained in this news release have been approved by Dale Brittliffe, P.Geo., and Ben Whiting, P.Geo., both being "Qualified Persons" as defined in NI 43-101 on behalf of Orex.

ABOUT OREX MINERALS INC.

Orex is a Canadian-based junior exploration company comprised of highly qualified mining professionals. Orex has several current projects: the Coneto Gold-Silver Project in Durango, Mexico, a joint venture with Fresnillo PLC, the Jumping Josephine Gold-Silver Project in British Columbia, Canada, plus this newest Sandra Escobar Silver Project in Durango, Mexico, with Canasil Resources Inc.

Source: Orex Minerals

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TriStar Gold

TriStar Gold

TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is the Castelo de Sonhos in Pará State, Brazil, which is host to a robust PEA outlining a small capex, high IRR production profile. Tristar and Royal Gold recently completed an $8 million financing package to advance Castelo de Sonhos through feasibility in 2020... LEARN MORE

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