Orex and Fresnillo award a 12,000 metre diamond drilling contract for the Coneto silver-gold project in Durango
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 18, 2012) – Orex Minerals Inc. – (TSX VENTURE:REX) ("Orex"), in conjunction with their project partner Fresnillo PLC (LSE:FRES) ("Fresnillo"), have selected Kluane Drilling Ltd. ("KDL") as the service provider for a 12,000 metre drilling program on the Coneto Silver-Gold Project in Durango, Mexico.
KDL is a highly experienced international diamond drilling company, with a regional service and supply office in Durango. They utilize modularized mobile drilling equipment, in order to keep to a minimum the social and environmental impact.
Phase II Diamond Drilling Program
Gary Cope, President of Orex, says, "We are anticipating the drill will be turning in the next few weeks as soon as the environmental permit is obtained and the field crews ready the drill pads. This 12,000 metres is Coneto's Phase II drilling program, following our successful Phase I reconnaissance drilling. The joint technical committee has approved a $2.5 million exploration budget for this season."
Collectively, Orex and Fresnillo hold extensive contiguous mineral concessions totaling over 17,600 hectares in the heart of the historic Coneto mining district. These concessions cover more than 40 known mineralized epithermal quartz veins. A technical committee, in which both Orex and Fresnillo have representation, will jointly manage the Coneto Project.
The Coneto Project is located in the Mesa Central, on the eastern flank of the Sierra Madre Occidental Mountains. Coneto is in the heart of the "Mexican Silver Trend", which stretches 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 the Real de Angeles, Zacatecas, Fresnillo, La Preciosa, and La Pitarrilla mining camps.
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 Silver-Gold Project situated in Durango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
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 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.