Orex Minerals Inc. has signed a non-binding Letter-of-Intent with Fresnillo PLC respecting the proposed formation of a joint venture to explore and develop as one large project their respective mineral concessions in the Coneto gold-silver mining district in northern Durango State, Mexico.
Orex Minerals Inc. present a progress report on the geological program at the Coneto gold-silver mining camp in Durango State, Mexico. In this fourth installment of rock surface sampling, the focus is on the La Bufa sector, 2.5 kilometres northwest of the Loma Verde sector and the village of Coneto de Comonfort. An interpretation of the Phase-I drilling results at Loma Verde and Impulsora is also presented. Reconnaissance surface results include La Bufa #7715 with a true width 1.5 m grading gold 0.051 g/t and silver 632 g/t for a silver-equivalent of 635 g/t, or gold-equivalent of 10.58 g/t. La Bufa #7817 yielded 1.2 m grading gold 5.654 g/t and silver 82 g/t for a silver-equivalent of 421 g/t, or gold-equivalent of 7.02 g/t. A Phase-II diamond drilling program is currently being planned.
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