Oremex Release Results From Diamond Drill Program at Tejamen Silver Property
Vancouver, Canada (ots/PRNewswire)
Oremex Resources Inc. (TSX-V:
ORM) (the "Company") announces that it has received final results of
a ten-hole drill program completed at its Tejamen Silver Property
("Tejamen") in 2006. Receipt of assay results for these holes was
delayed due to administrative difficulties in Mexico. The holes were
drilled to twin some of the reverse circulation drill holes, provide
samples for rock strength testing on the periphery of the proposed
pits, and to provide samples for metallurgical testing in the two
mineralized zones. Diamond drill ("DD") holes DD-1 to DD-4 tested
the Cerro Prieto zone, diamond drill holes DD-5 and DD-6 tested
mineralization within the Los Mantos zone while holes DD-7 to DD-10
were primarily drilled to provide samples for rock mechanics
testing.Hole DD-1 was sited between reverse circulation ("RC") holes RC-1
and RC-2, and showed good correlation with mineralized intercepts in
both holes as follows: Ag
Drill Interval Metres Ag (grams (ounces
Hole (metres) (feet) per tonne) per ton)
DD-1 18-84 66 (216.5) 59.5 1.74
Incl. 38-50 12 (39.1) 127.5 3.72
RC-1 16-82 66 (216.5) 78.5 2.30
Incl. 24-36 12 (39.4) 113.0 3.31
RC-2 16-108 92 (301.8) 39.1 1.15
Incl. 26-54 28 (91.8) 50.0 1.46
Incl. 88-116 28 (91.8) 54.1 1.58
Hole DD-2 twinned Hole RC-7 and also showed good correlation with
respect to grades and thicknesses as follows:
Ag
Drill Interval Metres Ag (grams (ounces
Hole (metres) (feet) per tonne) per ton)
DD-2 36-96 60 (196.8) 138.4 4.05
Incl. 48-76 28 (91.3) 253.7 7.40
And 112-128 16 (52.5) 32.1 0.94
RC-7 36-102 66 (216.5) 104.5 3.05
And 130-140 10 (32.8) 176.2 5.15
And 150-164 14 (45.9) 35.1 1.02
Hole DD-3 was drilled 25 metres south of Hole RC-8:
Ag
Drill Interval Metres Ag (grams (ounces
Hole (metres) (feet) per tonne) per ton)
DD-3 62-78 16 (52.5) 38.6 1.13
98-114 16 (52.5) 52.7 1.54
Incl. 102-104 2 (6.6) 135.5 3.96
Incl. 112-114 2 (6.6) 216.2 6.32
RC-8 84-104 20 (65.4) 118 3.45
Hole DD-4 was drilled between holes RC-28 and RC-29:
Ag
Drill Interval Metres Ag (grams (ounces
Hole (metres) (feet) per tonne) per ton)
DD-4 24-110 86 (280.4) 26.8 0.78
Incl. 52-58 6 (19.6) 51.3 1.50
Incl. 70-74 4 (13.1) 48.6 1.41
Incl. 106-110 4 (13.1) 48.0 1.40
RC-28 14-82 68 (223.0) 81.6 2.38
RC-29 56-80 24 (78.7) 114.2 3.34
In the Los Mantos zone, Hole DD-5 was drilled between holes RC-97 and
RC-98:
Ag
Drill Interval Metres Ag (grams (ounces
Hole (metres) (feet) per tonne) per ton)
DD-5 0-36 36 (118.1) 49.5 1.45
Incl. 28-32 4 (13.1) 168.6 4.91
48-60 12 (39.4) 34.0 1.00
RC-97 14-152 138 (452.6) 105.5 3.08
RC-98 0-4 4 (13.1) 57.5 1.68
32-54 22 (72.2) 24.3 0.71
Hole DD-6 was drilled between Holes RC-78 and RC-79:
Ag
Drill Interval Metres Ag (grams (ounces
Hole (metres) (feet) per tonne) per ton)
DD-6 8-24 16 (52.5) 19.7 0.57
And 42-60 18 (59.0) 50.7 1.48
RC-78 62-78 16 (52.5) 549.4 16.09
And 110-150 40 (131.2) 84.1 2.46
RC-79 64-82 18 (59) 71.4 2.09
And 116-154 38 (124.6) 88.1 2.50Holes DD-7 to DD-10, drilled near the proposed pitwalls for the open pit in the Los Mantos zone, encountered relatively narrow widths of silver mineralization. Core samples taken from these holes were utilized by Call & Nicholas of Tuscon, Arizona for completion of their geotechnical review of the Tejamen property. Their report concluded that overall geotechnical conditions are favourable at the property and their findings generally supported the pit slope angles utilized in the independent Preliminary Assessment Study completed by Snowden Mining Industry Consultants in 2006.
All intercepts are reported as drilled; true widths have not been calculated. Diamond drill samples were collected, logged and split following standard industry practice and were analyzed by Inspectorate America Corporation using 30 element ICP with a fire assay technique with a gravimetric finish for gold and silver. Linda Thorstad, P. Geo., is the qualified person who reviewed the data as received from the assay lab.
The Tejamen deposit remains open at depth and in several directions for future exploration. The Company is continuing discussions with the Ejido for long term access to surface rights at the project.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
Forward-Looking Statements: The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
Contact:
For further information: Linda Thorstad, M.Sc., P.Geo. Chief
Executive Officer, T: +1-604-683-5651, E: linda.thorstad@oremex.com