Orex Minerals Inc.

Published : January 11th, 2010

Expands Mineral Concessions at Coneto Project Request for Proposals Issued for Diamond Drilling

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Keywords :   Canada | Diamond | G Mexico | Gold | K Street | Mexico | Recovery | Silver |

 

January 11, 2010

TSX Venture Exchange
Trading Symbol: REX

 

Orex Expands Mineral Concessions at Coneto Project
Request for Proposals Issued for Diamond Drilling

Vancouver, B.C. ? Orex Minerals Inc. ? (REX: TSXV) is pleased to present a second progress report on the geological program at the Coneto silvergold mining camp in Durango State, Mexico.

In December, 2009, Orex applied for and was awarded an increase in the size of the mineral concession holdings in the Coneto camp, bringing the total holdings to 15,906 hectares. The addition of the ?Lomas 3? mineral concession adds 12,610 hectares and spans over 16 km strike length of the main mineralized corridor.

In addition, the surface geological and geochemical mapping and sampling program has continued to yield high grade gold and silver results on multiple veins. A request for proposal has been issued to several diamond drilling companies for a PhaseI drilling program planned for 5,000 metres.

Gary Cope, President of Orex, says; ?We are very pleased with the surface results to date for gold and silver. These results demonstrate strong mineralization in many veins at Coneto. We anticipate awarding a diamond drilling contract in February.?

In order to better define drilling targets, the southeastern and central regions of the property have undergone extensive surface examination. This testing clearly illustrates parallel mineralized structures carrying gold and silver, as well as other pathfinder elements.

As of midDecember, regional geology mapping at 1:10,000 scale covered about 35 km2 and detailed structural geology mapping at 1:500 scale covered15 km2. Fortynine linekilometres of geochemical sampling, both for soil and rock channel/chip/grab, total 1,794 samples. An initial update of results was published in a news release dated 17 November 2009. The highlights in the table below are in addition to those previously released.

Key highlights include channel samples on the Sauce, Palma, and Pobre Sur veins in the central region of the camp, plus favourable signs of mineralization from prospecting related grab samples in the Loma Verde area on the west region of the camp.

Sauce vein sample #4946 yielded true width 1.0 m grading gold 17.60 g/t and silver 222.0 g/t for a silverequivalent of 1,278 g/t and sample #4948 yielded 2.0 m grading gold 7.75 g/t and silver 242.0 g/t for a silverequivalent of 707.0 g/t.

Palma vein sample #5152 yielded 1.2 m grading gold 6.08 g/t and silver 497.0 g/t for a silverequivalent of 861.8 g/t and sample #5098 yielded 1.6 m grading gold 2.49 g/t and silver 564.0 g/t for a silverequivalent of 713.4 g/t.

Suite 1180 ? 999 West Hastings Street, Vancouver, BC, Canada V6C 2W2 Phone: 604.687.6310 Fax: 604.687.6365 Email: info@orexminerals.com Web : www.orexminerals.com

On a projection of the Pobre vein, herein named Pobre Sur, sample #487 yielded 1.0 m grading gold 12.50 g/t and silver 78.0 g/t for a silverequivalent of 828.0 g/t. Grab samples from old rock piles in the Loma Verde area include #5819 which yielded gold 15.90 g/t and silver 1,750.0 g/t for a silverequivalent of 2,704 g/t, and #5811 which yielded gold 2.60 g/t and silver 830.0 g/t for a silverequivalent of 986.0 g/t.

Rock sampling highlights ? November 1 to December 15, 2009 Maps of the geochemical program can be found on the Orex website at the following address:

Sector Sample Rock Sample True Au Ag AgEq
Number Type Type Width (m) (g/t) (g/t) (g/t)
Impulsora Sur 366 VEIN Channel 1.1 0.65 67.0 105.8
Impulsora 408 BRXX Channel 1.0 1.51 73.0 163.6
Impulsora 410 VEIN Channel 1.8 3.39 143.0 346.4
Promentorio 422 STWK Channel 1.6 2.29 7.0 144.4
Promentorio 424 STWK Channel 3.3 3.63 4.0 221.8
Promentorio 429 VEIN Channel 1.0 1.70 139.0 241.0
Pobre Sur 487 VEIN Channel 1.0 12.50 78.0 828.0
Pobre Sur 488 VEIN Channel 0.6 4.32 42.0 301.2
Pobre Sur 489 VEIN Channel 0.5 2.65 15.0 174.0
Pobre Sur 490 VEIN Channel 1.0 1.44 68.0 154.4
Consuelo 494 VEIN Grab n/a 1.19 720.0 791.4
Consuelo 495 VEIN Grab n/a 1.97 530.0 648.2
Durazno 4691 VEIN Channel 2.0 1.27 193.0 269.2
Durazno 4692 VEIN Channel 2.0 2.59 191.0 346.4
Estrella 4868 STWK Channel 1.5 1.10 36.0 102.0
Estrella 4873 VEIN Channel 0.8 1.08 21.0 85.8
Estrella 4874 ANVT Channel 2.0 1.62 43.0 140.2
Estrella 4875 BRXX Channel 0.7 1.02 90.0 151.2
Tres Amigos 4905 ANVT Channel 2.0 3.91 129.0 363.6
Tres Amigos 4909 BRXX Channel 0.5 1.48 102.0 190.8
Tres Amigos 4922 BRXX Channel 0.5 0.54 108.0 140.1
Sauce 4945 STWK Channel 1.5 0.37 107.0 128.9
Sauce 4946 VEIN Channel 1.0 17.60 222.0 1278.0
Sauce 4948 VEIN Channel 2.0 7.75 242.0 707.0
Pobre 4957 ANVT Channel 1.0 0.64 70.0 108.2
Pobre 4962 ANVT Channel 1.1 0.91 92.0 146.5
Sauce 4969 STWK Channel 1.2 1.33 143.0 222.8
Sauce 5009 ANVT Channel 1.5 4.78 128.0 414.8
Sauce 5010 VEIN Channel 2.0 4.15 87.0 336.0
Sauce 5086 VEIN Channel 2.0 0.27 131.0 147.3
Palma 5092 VEIN Channel 1.1 2.09 117.0 242.4
Palma 5093 ANVT Channel 1.7 2.16 12.0 141.6
Palma 5094 ANVT Channel 2.0 1.38 7.0 89.8
Palma 5096 ANVT Channel 2.0 3.41 66.0 270.6
Palma 5097 VEIN Channel 2.3 2.34 97.0 237.4
Palma 5098 VEIN Channel 1.6 2.49 564.0 713.4
Sauce 5132 ANVT Channel 1.9 0.27 129.0 145.0
Sauce 5142 VEIN Channel 2.0 6.34 137.0 517.4
Sauce 5143 VEIN Channel 2.0 0.73 67.0 111.0
Palma 5152 VEIN Channel 1.2 6.08 497.0 861.8
Palma 5153 ANVT Channel 1.6 1.55 50.0 143.0
Loma Verde 5811 ANVT Grab n/a 2.60 830.0 986.0
Loma Verde 5819 VEIN Grab n/a 15.90 1750.0 2704.0

www.orexminerals.com

The first and second interim reports cover 428 Bhorizon soil, 657 rock channel, 656 rock chip and 9 rock grab totaling 1,794 samples, ranging from trace to 17.60 g/t for gold and trace to 1,750 g/t for silver. SGS Mineral Services, a certified commercial laboratory in Durango, Mexico, performed the analytical testing by fire assay with atomic absorption finish, and multielement inductively coupled plasma analyses. A QA/QC program is in place for sample collection through to laboratory analysis. Host rock is primarily andesite of the Triassic Lower Volcanic Group. Sample rock type abbreviations used in this news release are ANVT andesite with quartz veinlets, BRXX breccia, STWK stockwork, VEIN quartz vein, VNBX vein breccias and VNST vein stockwork.

Located in the Mesa Central on the eastern flank of the Sierra Madre Occidental Mountains, Coneto is centrally positioned in the ?Mexican Silver Trend?. This silver trend, stretching from Guanajuato in the southeast, through the states of Zacatecas and Durango, hosts some of the World?s largest silver deposits, including the Real de Angeles, Zacatecas, Fresnillo, La Preciosa, and La Pitarrilla mining camps.

Over 40 epithermal silvergold vein structures have been identified at Coneto. The initial Orex program consists of detailed structural geology mapping and geochemical sampling in the central, west and southeast areas. This program is designed to guide a diamond drilling program.

Ben Whiting, P.Geo., is the Qualified Person and takes responsibility for the technical disclosure in this news release.

Silverequivalent for the purposes of this news release is defined as silver grade plus 60 times gold grade. Metallurgical recoveries and net smelter returns are assumed to be 100% for the silverequivalent value. Base metal values are not included in the silverequivalent value.

About Orex Minerals Inc.

Orex Minerals Inc. is a junior mineral exploration company comprised of highly qualified mining professionals with a focus on the exploration of prospective gold and goldsilver properties in Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Cope President

For further information, contact Orex Minerals Inc. at (604) 6876310, email info@orexminerals.com or visit our website at www.orexminerals.com

This News Release may contain forwardlooking 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. Forwardlooking 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. Orex relies upon litigation protection for forwardlooking statements.

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.

Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Orex Minerals Inc.

EXPLORATION STAGE
CODE : REX.V
ISIN : CA68616X1006
CUSIP : 68616Q
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Orex Minerals is a silver and gold exploration company based in Canada.

Orex Minerals holds various exploration projects in Mexico.

Its main exploration properties are EL TIGRE, LAS SORPRESAS and PAMEL in Peru, BARSELE in Sweden and CONETO, SANTA CRUZ and LAS MESAS DURANGO in Mexico.

Orex Minerals is listed in Canada. Its market capitalisation is CA$ 22.7 millions as of today (US$ 16.7 millions, € 15.0 millions).

Its stock quote reached its highest recent level on August 12, 2016 at CA$ 1.38, and its lowest recent point on August 11, 2023 at CA$ 0.02.

Orex Minerals has 113 430 000 shares outstanding.

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Financings of Orex Minerals Inc.
1/16/2015Announces Private Placement
9/25/2013Announces Non-Brokered Private Placement
9/6/2013Announces Private Placements
4/26/2013Closes Non-Brokered Private Placement
2/18/2013Announces Non-Brokered Private Placement
9/24/2012Closes Non-Brokered Private Placement
9/29/2008=?windows-1252?Q?OREX_ANNOUNCES_$1,200,000_NON-BROKERED_PRIV...
6/2/2008Announces $5,302,500 Brokered Private Placement
Option Grants of Orex Minerals Inc.
4/11/2013Engages Communications and Investor Relations Consultant
10/30/2012Ends Investor Relations Agreement
Project news of Orex Minerals Inc.
4/22/2015(Coneto)Fresnillo Restarts Diamond Drilling on the Coneto Gold-Silve...
3/19/2015(Coneto)Fresnillo Proceeds to Phase-IV Diamond Drilling on the Conet...
2/23/2015(Barsele)and Agnico Eagle sign a Letter of Intent for a Joint Venture...
12/8/2014(Coneto)Drilling Extends Loma Verde and Promontorio Veins on the Con...
10/21/2013(Barsele)Minerals Inc. Closes Amended Barsele Acquisition
10/3/2013(Barsele)Announces Completion of Barsele Acquisition
5/3/2013(Barsele)Amends Barsele Acquisition Agreement to Defer Cash Payment a...
3/25/2013(Coneto)Minerals Inc.: Third Drilling Rig Added to the Coneto Gold-S...
10/9/2012(Coneto)and Fresnillo Add Second Drilling Rig To Coneto Silver-Gold ...
8/27/2012(Coneto)and Fresnillo Commence Drilling at Coneto Silver-Gold Projec...
7/23/2011(Barsele)Orex Completes Airborne Geophysical Survey Over The Barsele ...
5/9/2011(Barsele)Initiates Airborne Geophysical Survey Over Barsele Gold Proj...
5/2/2011(Barsele)Minerals Completes Purchase of Barsele Gold Project
3/31/2011(Las Mesas Durango)Diamond Drilling has Started on Orex’s “Las Mesas” Gold-Silv...
3/23/2011(Barsele)Signs Final Agreement to Acquire Barsele Gold Project
8/9/2010(Coneto)Extends Gold and Silver in the Loma Verde Sector of the Cone...
7/6/2010(Coneto)Progress Report on Orex's Drilling Program at the Coneto Gol...
4/27/2010(Coneto)Diamond Drilling to Commence on Orex’s Coneto Gold-Silver Pr...
2/9/2010(Coneto)Awards Diamond Drilling Contract to Major Drilling for the C...
1/11/2010(Coneto)Expands Mineral Concessions at Coneto Project Request for Pr...
11/17/2009(Coneto)Coneto Project Yields High Gold and Silver Values
Corporate news of Orex Minerals Inc.
7/12/2016Orex Minerals Inc. Joins the OTCQX Market in the United Stat...
7/12/2016Orex Starts a 3,000 Metres Drilling Program on the Sandra Es...
6/20/2016A 5,000 Metres Diamond Drilling Program will be Conducted on...
5/31/2016Orex Hits Silver in a Step-Out Hole 350 Metres West of the M...
5/24/2016Orex Continues to Hit Silver on the Sandra Escobar Project i...
1/30/2016Orex Grants Stock Options
1/25/2016Orex Hits 61 Metres Grading 359 g/t Silver from Surface at t...
9/25/2015Orex and Barsele Announce Completion of the Spin Out of Orex...
9/24/2015Fresnillo has Completed $6 Million Investment in the Coneto ...
9/23/2015Orex Shareholders, Optionholders and Warrantholders Vote in ...
9/18/2015Orex Closes Non-Brokered Private Placement
9/15/2015Orex Options the Sandra Escobar Silver-Gold Project in Duran...
8/10/2015Multiple Structures Yield High Grade Gold-Silver in Step Out...
8/6/2015Orex Executes Definitive Agreement to Spin Out Its Interest ...
8/6/2015IIROC Trading Resumption - REX
8/6/2015IIROC Trading Halt - REX
7/24/2015Orex Applies to Extend Warrants
7/3/2015Orex Grants Stock Options
2/23/2015Orex and Agnico Eagle sign a Letter of Intent for a Joint Ve...
2/23/2015Orex and Agnico Eagle sign a Letter of Intent for a Joint Ve...
1/19/2015Orex Closes Non-Brokered Private Placement
1/16/2015Orex Announces Private Placement
12/19/2014Orex Reports Balance of Drilling Results from 2014 Fieldwork...
12/19/2014Reports Balance of Drilling Results from 2014 Fieldwork on t...
12/19/2014Orex Reports Balance of Drilling Results from 2014 Fieldwork...
12/9/2014Orex Commences Drilling on the Los Crestones Gold-Silver-Cop...
12/9/2014Orex Commences Drilling on the Los Crestones Gold-Silver-Cop...
12/8/2014Drilling Extends Loma Verde and Promontorio Veins on the Con...
12/8/2014Drilling Extends Loma Verde and Promontorio Veins on the Con...
11/18/2014Drilling Continues to the Southeast on the Coneto Gold-Silve...
11/14/2014Orex Concludes 2014 Fieldwork on the Jumping Josephine Gold-...
11/14/2014Concludes 2014 Fieldwork on the Jumping Josephine Gold-Silve...
11/14/2014Orex Concludes 2014 Fieldwork on the Jumping Josephine Gold-...
10/15/2014Orex has awarded a 5,000 Metre Drilling Contract for the Los...
10/15/2014has awarded a 5,000 Metre Drilling Contract for the Los Cres...
10/15/2014Orex has awarded a 5,000 Metre Drilling Contract for the Los...
9/10/2014Orex Grants Stock Options
8/21/2014Fresnillo Proceeding to Second Option Stage on Coneto Projec...
9/18/2013Minerals Inc. (TSX.V:REX) Closes $2-Million Private Placemen...
8/20/2013Minerals Inc.: Additional Gold and Silver Results Received f...
7/10/2013Minerals Inc.: Attractive Gold and Silver Results Received f...
7/3/2013Options Claims Strategically Located Near Colorado Resources...
3/25/2013(Coneto)=?windows-1252?Q?Third_Drilling_Rig_Added_to_the_Coneto_Gold...
3/18/2013Letter from the President
2/13/2013and Astral Announce Completion of Arrangement
2/1/2013Announces Proposed Spin Out
1/21/2013Astral Announces Annual General and Special Meeting
1/7/2013(Coneto)=?windows-1252?Q?Orex_reports_2.7_Metres_Grading_840_g/t_Sil...
12/10/2012and Astral Announce Signing of Arrangement Agreement
11/7/2012(Coneto)=?windows-1252?Q?Orex_reports_10_Metres_Grading_300_g/t_Silv...
11/7/2012(Coneto)Reports 10 Metres Grading 300 g/t Silver-Equivalent on the C...
10/15/2012and Astral Announce Merger by way of Plan of Arrangement
10/9/2012(Coneto)=?windows-1252?Q?Orex_and_Fresnillo_Add_Second_Drilling_Rig_...
7/18/2012=?windows-1252?Q?Orex_and_Fresnillo_Award_a_12,000_Metre_Dia...
4/20/2012BTV Profiles Orex Minerals Inc.
2/22/2012(Barsele)=?windows-1252?Q?Orex_Provides_Results_for_the_First_Diamond...
2/2/2012(Coneto)=?windows-1252?Q?Orex_Minerals_Inc._and_Fresnillo_Plc_Sign_A...
1/4/2012(Barsele)=?windows-1252?Q?Orex_Provides_Update_on_Drilling_at_Barsele...
9/20/2011(Barsele)=?windows-1252?Q?Orex_Completes_First_Phase_Ground_Geophysic...
5/24/2011Engages Sigorex as New Investor Relations Consultant
4/4/2011=?windows-1252?Q?Orex_Awards_Airborne_Geophysical_Survey_Con...
3/4/2011=?windows-1252?Q?Orex_Closes_4,653,000_Unit_Non-Brokered_Pri...
3/3/2011=?windows-1252?Q?Indicated_Mineral_Resources_of_382,000_gold...
5/4/2010Commences drilling on the Coneto Gold-Silver Project
8/31/2009Geological Work Commences on Coneto Silver-Gold Project in M...
7/16/2009Signs Letter of Intent to Purchase 100% of Core Claims in Co...
9/2/2008Commencement of Production at Santa Cruz
5/12/2008Completes Mill Upgrading
1/31/2008Orex Minerals Provides Santa Cruz Project Update
11/19/2007Work Program Underway on Santa Cruz Property
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