Orex reports initial 19Moz silver and 286Koz gold resources at Coneto
According to the company's statement, an initial resource estimate contains an Inferred Resource of 286,000 oz of gold and 19,111,000 oz of silver for a gold equivalent of 538,000 oz.
The mineral resource estimate was prepared by Fresnillo, the company's joint venture partner.
President and CEO Ben Whiting said, "It is always an exciting milestone in the advancement of a project to announce the maiden mineral resource estimate. We are very pleased that this first estimate of the Coneto project exceeds half a million ounces of gold-equivalent."
Coneto is situated around the town of Coneto de Comonfort, Durango, in the heart of the "Mexican Silver Trend". The project consists of approximately 4,997 hectares (11,860 acres) of contiguous mineral concessions and covers over 40 discrete mineralized low to intermediate-sulphidation epithermal quartz veins.
Orex Minerals is a mineral exploration company focused on precious and base metals exploration in Mexico and Canada. Orex has several current projects: Two projects are located in Durango State, Mexico, the Sandra silver-gold project with Pan American Silver and the Coneto gold-silver project with Fresnillo PLC. The third project is the Jumping Josephine gold project in British Columbia, Canada.