Oremex Drilling Extends Los Mantos Zone at Tejamen Silver Project in Mexico
Vancouver, B.C. -- January 30, 2006: The Company is pleased to report assay results from the most recent drilling program in the Los Mantos and Cerro Prieto Zones at its Tejamen Silver Project in Durango State, Mexico.
The Reverse Circulation (RC) drilling program extended the Los Mantos Zone to the southwest by approximately 100 metres and was conducted on 50 metre step-out lines, with collar locations at approximately 30 metre centers.
Oremex CEO, David Duval, states that, "The results further confirm the widespread distribution of silver values in the Los Mantos Zone and expand the silver-bearing horizons to the south and southwest beyond the boundaries of our existing 43-101 compliant resource estimate."
Hole No. 230, which was drilled on the extreme northwestern limit of the known mineralization at Los Mantos, intersected good silver values, indicating that the zone extends further to the north and in fact is still open beyond the confines of what was reported in the 43-101 compliant resource estimate last year.
A geological model proposed for the Tejamen property suggests that mineralizing solutions moved along steep feeder zones until a porous and permeable contact zone was encountered.
"In many cases, we are seeing repetitions of shallow dipping, blanket-style mineralization emanating off these feeders which is highly encouraging from the standpoint of developing block models for scoping study purposes," he emphasized.
This particular geological model appears valid for the Los Mantos Zone which is located along and adjacent to an andesite/rhyolite contact within northeast trending fault-fracture zones that often contain high-grade silver mineralization. An excellent example of such high grade mineralization was evident in Hole No. 101 in the central core of the Los Mantos Zone which returned 19.95 oz. silver per tonne over an interval of 292 feet. (See Oremex news release dated September 8, 2004).
The mineralization at Tejamen consists of galena, sphalerite, pyrite, minor chalcopyrite, tetrahedrite and argentite in a gangue of mainly quartz and clay minerals. "Native silver and free gold have been reported in strongly oxidized areas which could enhance recoveries from heap leach, vat leach and more conventional recovery techniques," Duval said.
"The latest assay results are being incorporated into an updated 43-101 compliant technical report and our intention is to integrate that particular data into a Scoping Study for the Tejamen project in the next few months," he added. In the meantime, the Company is continuing with column leach tests on composite samples from the Tejamen property, with initial results indicating that silver recoveries exceed industry standards.
Assay results exceeding 1.0 ounce silver per tonne from the most recent drill program and results from holes 204 through 209, highlights from which were reported in a news release on September 13, 2005, are presented in the following table. Because of the nature of RC drilling techniques, it is not possible to determine the true width and orientation of the mineralized intersections reported below. However, interpretation of the Mantos structure indicates a low angle dip intersected by a vertical hole, representing what is believed to be an approximate true width.
Los Mantos Zone
| Hole No. |
From |
To |
Intercept
(metres) |
Silver
(gm/tonne) |
Intercept
(Feet) |
Silver
(oz./ton) |
210 |
50 |
52 |
2 |
147.0 |
6.6 |
4.73 |
60 |
62 |
2 |
60.9 |
6.6 |
1.96 |
90
|
92 |
2 |
42.5 |
6.6 |
1.37 |
211 |
54 |
58 |
4 |
35.2 |
13.1 |
1.13 |
120 |
122 |
2 |
77.2 |
6.6 |
2.48. |
160 |
162 |
2 |
32.6 |
6.6 |
1.05 |
212 |
50 |
52 |
2 |
254.0 |
6.6 |
8.17 |
60 |
62 |
2 |
57.6 |
6.6 |
1.85 |
82 |
84 |
2 |
33.8 |
6.6 |
1.09 |
213 |
6 |
16 |
10 |
45.4 |
32.8 |
1.46 |
20 |
24 |
4 |
44.5 |
13.1 |
1.43 |
46 |
48 |
2 |
74.0 |
6.6 |
2.38 |
50 |
52 |
2 |
62.3 |
6.6 |
2.00 |
112 |
114 |
2 |
38.5 |
6.6 |
1.24 |
214 |
0 |
8 |
8 |
47.1 |
26.6 |
1.51 |
10 |
14 |
4 |
35.6 |
13.1 |
1.14 |
18 |
20 |
2 |
77.8 |
6.6 |
2.50 |
24 |
26 |
2 |
43.1 |
6.6 |
1.39 |
68 |
70 |
2 |
32.3 |
6.6 |
1.04 |
215 |
58 |
60 |
2 |
74.4 |
6.6 |
2.39 |
76 |
78 |
2 |
43.1 |
6.6 |
1.39 |
216 |
32 |
38 |
6 |
47.2 |
19.7 |
1.52 |
56 |
72 |
16 |
170.8 |
52.5 |
5.49 |
76 |
78 |
2 |
46.2 |
6.6 |
1.49 |
82 |
84 |
2 |
43.6 |
6.6 |
1.40 |
86 |
90 |
4 |
80.0 |
13.1 |
2.57 |
106 |
108 |
2 |
52.2 |
6.6 |
1.68 |
122 |
124 |
2 |
30.7 |
6.6 |
0.99 |
146 |
148 |
2 |
36.8 |
6.6 |
1.18 |
217 |
62 |
70 |
8 |
69.2 |
26.2 |
2.23 |
218 |
62 |
64 |
2 |
47.5 |
6.6 |
1.53 |
82 |
84 |
2 |
30.4 |
6.6 |
0.98 |
102 |
106 |
4 |
69.65 |
13.1 |
2.24 |
108 |
110 |
2 |
70.6 |
6.6 |
2.27 |
116 |
118 |
2 |
36.5 |
6.6 |
1.17 |
122 |
124 |
2 |
125.0 |
6.6 |
4.02 |
130 |
132 |
2 |
78.8 |
6.6 |
2.53 |
150 |
154 |
4 |
145.6 |
13.1 |
4.68 |
219 |
8 |
10 |
2 |
105.0 |
6.6 |
3.38 |
|
12 |
14 |
2 |
31.6 |
6.6 |
1.02 |
All analytical results in this news release are from samples shipped to the ALS Chemex prep lab in Guadalajara, Jalisco, Mexico. They were prepared in the Guadalajara lab by ALS Chemex and shipped by their facilities in Vancouver, BC for analysis.
Norm Tribe, P.Eng., is the Qualified Person (QP) responsible for oversight of the Tejamen exploration program and has verified the above data.
For more information, please contact:
Linda Thorstad, M.Sc., P.Geo.
Chief Executive Officer
T: (604) 683-5651
Email: linda.thorstad@oremex.com
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.
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