Orex Exploration Inc: Corporate Update
30.03.2012 | Marketwired
MONTREAL, 03/30/12 - Orex Exploration Inc. (TSX VENTURE: OX) (FRANKFURT: O5D) would like to inform shareholders that the Company has engaged Mercator Geological Services of Dartmouth, Nova Scotia, to review all of the technical information relating to the Company's 100%-owned Goldboro Gold Property in Nova Scotia. Mercator is a geological consulting firm that offers expertise in project design and management, mineral resource estimation and evaluation, drilling program management and design, GIS-based compilation and mapping, quality assurance and quality control studies, and NI 43-101 technical reporting.The mandate given to Mercator by Orex comprises several specific elements. The immediate priority for Orex is to have a review of all technical information, which will lead to a bulk sample being done at the Goldboro Gold Property. Once Mercator has completed its review of the data and recommended to Orex which areas would be most suitable for such a bulk sample, the Company will then present this plan to the Nova Scotia Department of Natural Resources, and other interested departments, with the objective of securing a bulk sample permit.
In addition, Orex has asked Mercator to update its 2009 NI 43-101- compliant Mineral Resource Estimate to include the data from the 2010 and 2011 drilling campaigns; this will likely include data that will be generated as a result of the bulk sample. Furthermore, Orex would like to follow-up a new NI 43-101-compliant Mineral Resource Estimate with a Preliminary Economic Assessment, which will examine the economic feasibility of a production scenario at Goldboro.
About Orex Exploration Inc.
Orex Exploration Inc. is a Canadian-based junior resource and exploration company trading under the symbol OX on the TSX Venture Exchange and O5D on the Frankfurt Stock Exchange. The Company holds a 100% interest in the Goldboro Gold Project in Nova Scotia.
Neither the 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 news release. The statements made in this news release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.
Contacts:
Orex Exploration Inc.
Mark Billings, President & CEO
(514) 296-1641;
mark@marengomgt.com
www.orexexploration.ca
