Orex and Fresnillo Commence Drilling at Coneto Silver-Gold Project in Durango
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/27/12 -- Orex Minerals Inc. - (TSX VENTURE: REX) ("Orex"), in conjunction with their project partner Fresnillo PLC (LSE: FRES) ("Fresnillo"), have commenced the Phase-II 12,000 metres diamond drilling program on their Coneto Silver-Gold Project in Durango, Mexico. A joint technical committee, with both Orex and Fresnillo representation, will manage the Coneto project.
The service provider, Kluane Drilling Ltd. ("KDL") is a highly experienced international diamond drilling company, with a regional service and supply office in Durango. KDL utilizes modularized mobile drilling equipment to minimize environmental and social impact, such as the KDHT-1000 drill rig, which is capable of +500 metre depth of large HTW-size core and +800 metre depth of intermediate NTW-size core.
Orex's President, Gary Cope says, "Our Phase-I reconnaissance drilling program at Coneto was very successful, and we look forward to the results from this new phase of diamond drilling. The joint technical committee has approved a $2.5 million exploration budget for this season."
Coneto Mining District - Durango, Mexico
The historic Coneto Mining District is situated in the heart of the "Mexican Silver Trend", stretching from Guanajuato in the southeast, through to the states of Zacatecas and Durango. The trend hosts some of the world's largest silver deposits, including Fresnillo, Guanajuato, La Pitarrilla, La Preciosa, Real de Angeles, and Zacatecas mining camps.
Orex and Fresnillo hold extensive contiguous mineral concessions in the Coneto Mining District, which collectively total approx. 17,600 hectares and cover more than 40 known mineralized epithermal quartz veins. The Coneto Silver-Gold Project is located in the Mesa Central, on the eastern flank of the Sierra Madre Occidental Mountains.
Ben Whiting, P.Geo, is a Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.
ABOUT OREX MINERALS INC.
Orex Minerals Inc. (TSX VENTURE: REX) is a Canadian-based junior exploration company comprised of highly qualified mining professionals. The Company has two current projects: its flagship property, the Barsele Gold Project located in Sweden, and the Coneto Gold-Silver Project situated in Durango, Mexico, currently under option to Fresnillo PLC.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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.
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 release.
Contacts:
Orex Minerals Inc.
Jada Jennings
Sr. Communications/Investor Relations
(604) 684-4691 ext. 227
info@orexminerals.com
www.orexminerals.com
