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Oremex Drilling Extends Los Mantos Zone at Tejamen Silver Project
in Mexico
13:00 EST Monday, January 30, 2006
VANCOUVER, Jan. 30 /CNW/ - 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.
<<
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Los Mantos Zone
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Hole No. From To Intercept Silver Intercept Silver
(Metres) (gm/tonne) (Feet) (oz./ton)
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210 50 52 2 147.0 6.6 4.73
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60 62 2 60.9 6.6 1.96
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90 92 2 42.5 6.6 1.37
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211 54 58 4 35.2 13.1 1.13
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120 122 2 77.2 6.6 2.48
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160 162 2 32.6 6.6 1.05
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212 50 52 2 254.0 6.6 8.17