|By Marketwired .||
|July 9, 2014 09:47 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/09/14 -- Orex Minerals Inc. - (TSX VENTURE:REX) ("Orex"), has awarded a 5,000 metres diamond drilling contract to Dorado Drilling Ltd. ("DDL") for the Jumping Josephine Gold Project, west of Castlegar in southeastern British Columbia, Canada.
DDL is an experienced diamond drilling company, with a service and supply office in Lumby, BC. A Hydracore #2000 skid drill will be used for HQ and NQ sized wireline core diamond drilling, with a depth penetration of up to 1,250 metres.
Orex's President, Gary Cope says, "We are looking forward to drill results adding to the existing NI 43-101 resource estimate at Jumping Josephine. In addition, the program will test other targets which have not previously been drilled. This phase of drilling is the next step toward our target of a minimum of 200,000 ounces gold resource."
Jumping Josephine Gold-Silver Project, British Columbia, Canada
The Jumping Josephine Project totals approximately 11,667 hectares and is located in Southern British Columbia, 20 km west of Castlegar and 25 km north of the historic Rossland Gold Camp. The project, originally assembled in 2004 by Kootenay Silver Inc. ("Kootenay"), was optioned to Astral Mining Corp. ("Astral") in 2005. In 2013, Astral merged with Orex (news release February 3rd 2013) and in 2014 the remaining interest in Jumping Josephine was acquired from Kootenay by Orex (news release February 5th 2014).
Exploration between 2006 and 2011 included surface mapping, geochemistry, geophysics, and the completion of 140 diamond drill-holes. Work on the JJ Main showing culminated in the estimation of a 43-101 compliant resource calculated by Apex Geoscience Ltd. ("Apex").
Apex estimates an Indicated mineral resource of 363,000 tonnes averaging 2.95 g/t Au for 34,000 oz and Inferred mineral resource of 448,000 tonnes averaging 2.08 g/t Au for 30,000 oz. The effective date of the resource is March 24th, 2011. The 43-101 Technical Report authored by A.J. Turner P.Geol, M. Dufresne, P.Geol and S. Nicholls, M.AIG. has been filed by Orex and is available on SEDAR and the Orex website.
Ben Whiting, P.Geo, and Dale Brittliffe, P.Geo. are Qualified Persons as defined in NI 43-101 and take responsibility for the technical disclosure contained in 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 several current projects: the Barsele Gold Project in Sweden, the Los Crestones Gold-Silver Project in Sinaloa, Mexico, the Jumping Josephine Gold-Silver Project in British Columbia, and the Coneto Gold-Silver Project in Durango, Mexico, which is currently under option to Fresnillo plc.
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.
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