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Oremex Provides Update on Tejamen Silver Property
Vancouver, Canada (ots/PRNewswire) - Oremex Resources Inc. (TSX-V: ORM) (the "Company") today announced an update on progress at its Tejamen Silver Property in the State of Durango, Mexico. The Company's representatives are continuing discussions with the Ejido of Tejamen, which holds the surface rights to the Tejamen Silver Property. Discussions are progressing well and the Company is confident that a settlement that will benefit both parties can be achieved.
A NI 43-101 compliant preliminary assessment study completed in October 2006 by Snowden Industry Mining Consultants ("Snowden") scoped the project as a 10,000 tonne per day heap leach operation with open pit mining from the two mineralized zones, Cerro Prieto and Los Mantos. As a portion of the village of Tejamen lies between the two zones, Snowden considered an early move of the village to be an important component in advancing the project to production. Management has now completed an internal analysis based on data and cost estimates from the Snowden report that supports initial production from Los Mantos, the southern zone of mineralization, which would preclude the need to move the village of Tejamen in the near term. Disturbance to the village would be minimal under this plan of operations and production could proceed for a minimum of four years. The Los Mantos Zone contains approximately 70 percent of the silver content defined to date on the property. It also offers significant exploration potential for the addition of silver resources on the property. Under the guidance of the Company's new project development manager, options for commencement at Los Mantos with follow-up mining at the Cerro Prieto Zone are under consideration.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.
National Instrument 43-101 requires the following statement: that the preliminary assessment is preliminary in nature, that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.
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.
ots Originaltext: Oremex Resources Inc.
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