Vancouver, Canada (ots/PRNewswire)
- Oremex Resources is pleased
to announce that additional drilling in 2005 has resulted in an
increase of twenty-five percent (25%) in the silver resource in its
Tejamen deposit located in the State of Durango, Mexico.
Wardrop Engineering Inc. has just completed a Technical Report in
the format set out in National Instrument (NI) 43-101, and the
inferred mineral resources (at a cut-off grade of 20 grams of silver
per tonne) are summarized in the following table:
Grams/ Grams/ Tonne Silver
------ ------ ----- ------
Tonnes Of Tonne Tonne Silver Equiv(1).
--------- ----- ----- ------ ---------
Resource Silver Gold Equiv. Ounces
-------- ------ ---- ------ ------
Uncapped: 22.6 million 66.9 0.05 69.8 50.8 million
Capped: 22.3 million 65.4 0.03 67.2 48.2 million
(1) The Silver Equivalent (AgEq) is AgEq (equal sign) Ag g/t (x) 64.56.
Metallurgical recoveries were not considered.
As a result of the foregoing, and the recent excellent results
from metallurgical testing as reported in a News Release dated March
21, 2006, an independent mining consulting firm will be retained to
commence a preliminary economic assessment of the Tejamen project as
an open-pit heap- leach operation.
In the near future, Oremex also plans to recommence drilling with
a view to adding to the resource (which is open in several
directions), providing in-fill holes where appropriate, and
subsequently preparing a feasibility study. To date, Oremex has
drilled 217 rotary percussion reverse circulation drill holes for a
total of 36,139 meters. The drilling was laid out on 50 metre lines
with drill stations at every 30 metres.
It should be noted that the Tejamen property is just one of eight
owned by Oremex in Mexico. Drilling on the San Lucas property by
Oremex last year (19 reverse circulation drill holes totaling about
3,000 meters) indicated a large disseminated zinc, lead, silver, and
gold system. One of the other properties (La Parilla) was recently
sold for cash and shares (which, at today's prices, would be valued
at over CDN$800,000). The other properties are being evaluated, and
additional property acquisitions are expected.
Ross Glanville, P.Eng., M.B.A is the qualified person responsible
for the contents of this News Release.
The TSX Venture Exchange has not reviewed or does not accept
responsibility for the adequacy or accuracy of this release. 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.
TSX V: ORM
ots Originaltext: Oremex Resources Inc.
Im Internet recherchierbar: http://www.presseportal.ch
For further information: Don Smith, Telephone: +1-(604)-683-5651,
Fax: +1-(604)-630-0141, or send questions and comments to: