VANCOUVER, BC, May 20, 2021 /CNW/ - Orex Minerals
Inc. (TSXV: REX) (OTC: ORMNF) ("Orex") is pleased to
announce that Exploraciones y Desarrollos Mineros Coneto, SAPI de
CV, a joint venture between 55% Fresnillo plc (LON: FRES) and 45% Orex, has
initiated a work program which will lead to a Resource Estimation
on the Coneto Silver-Gold Project in Durango, Mexico. This estimation will be
compliant with the requirements of Canadian National Instrument
43-101 reporting standards, including the filing of a Technical
Report.
The services of SRK Consulting (Canada) Inc. have been contracted to
conduct the Resource Estimation study. First established in 1978,
SRK Canada is a mining sector focused consulting firm with a strong
background in the evaluation of resources and reserves estimation
and economic viability studies (preliminary economic assessments,
prefeasibility and feasibility studies), amongst other
services.
The database for Coneto includes 106 diamond drill holes
totaling 38,516 metres on 12 vein targets. In addition to this
study, a separate Metallurgical Study will be performed on each of
the mineralized lodes.
Orex's President and CEO, Ben
Whiting, said; "This will be the first NI43-101 Resource
Estimate on the Coneto Project, a significant milestone in the
evaluation of a mining camp. We are very encouraged by this event
and look forward to advancing the project."
Coneto Silver-Gold Project, Durango, Mexico
Coneto is situated around the town of Coneto de Comonfort, Durango, in the heart of
the "Mexican Silver Trend". It is approximately 100 km north of the
City of Durango and 25 km west of Argonaut's El Castillo Gold Mine.
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. (Note: Mineralization hosted on
adjacent and/or nearby properties may not necessarily be indicative
of mineralization hosted on the JV's property.)
The Project consists of approximately 5,000 hectares (12,800
acres) of contiguous mineral concessions and covers multiple
mineralized low to intermediate-sulphidation epithermal quartz
veins. Excellent infrastructure exists in the Coneto area,
including paved road access, electrical power, water and manpower
from nearby communities.
Ben Whiting, P.Geo., and Dale
Brittliffe, P.Geo., are Qualified Persons as defined in NI 43-101
and take responsibility for the technical disclosure contained in
news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. is a mineral exploration company focused on
precious and base metals exploration in Mexico and Canada. Orex has several current projects: Two
projects are located in Durango State, Mexico, the Sandra Silver-Gold Project with
Pan American Silver Corp. and the Coneto Silver-Gold Project with
Fresnillo PLC. The third project is the Jumping Josephine Gold
Project in British Columbia,
Canada. Orex is managed by the experienced Belcarra Group
Management Ltd. (the "Belcarra Group"), comprised of highly
qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS
Ben Whiting. P.Geo.
President and CEO
FORWARD LOOKING STATEMENTS
This News Release may contain forward-looking statements
including, but not limited to, statements with respect to the
planned program and budget for the Project. Forward-looking
statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements and
Orex undertakes no obligation to update such statements, except as
required by law.
For additional information on risks and uncertainties, see
the Company's most recently filed annual management discussion and
analysis ("MD&A"), which is available on SEDAR at www.sedar.com
and on the Company's website at www.orexminerals.com. The risk
factors identified in the MD&A are not intended to represent a
complete list of factors that could affect the Company.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
View original
content:http://www.prnewswire.com/news-releases/work-program-initiated-for-a-resource-estimation-study-on-the-coneto-silver-gold-project-in-durango-mexico-301295972.html
SOURCE Orex Minerals Inc.