(MENAFN- ProactiveInvestors - N.America) Orex Minerals Inc. (CVE:REX) said on Monday it has begun a new round of diamond drilling on the Sandra Escobar silver project in northern Durango state, Mexico.
This phase IV drilling program will utilize two drill rigs and consist of approximately 4,000 metres in 10 to 15 drill holes. The Sandra Escobar project is being advanced by Orex under an option agreement with Canasil Resources Inc (CVE:CLZ).
To date, Orex has drilled 8,372 metres in 62 diamond drill holes in the southeastern region of the project. The first 59 diamond drill holes formed the basis for an initial resource estimate on the Boleras silver deposit. At a base case of 45 grams per tonne silver cut-off, the inferred resource estimate yielded 9.8 million tonnes grading 106 grams per tonne silver for a total of 33.3 million ounces of silver. Read more.
"We are pleased that diamond drilling is once again under way on Sandra Escobar. This next phase will include both drilling adjacent to the current Boleras silver deposit, as well as several deeper reconnaissance drill holes," said Orex's president, Gary Cope.
Assay results are now available for the final two reconnaissance drill holes from the phase III diamond drilling program. Hole SA-16-061 is located along Puma Ridge, 300 metres southeast of the Burro zone and 250 metres southwest of the Main zone. SA-16-061 yielded 14.52 metres core length (10.89 metres true thickness) from surface, grading 55 grams per tonne silver, including four metres core length (three metres true thickness) grading 111 grams per tonne silver. More drilling is warranted in the Puma Ridge zone.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.