Orex Minerals Inc. – announces completion of an airborne geophysical survey at its Los Crestones precious metal project, Sinaloa, Mexico. The 4,168 hectare helicopter-borne radiometric and magnetic survey was flown at 50m line spacing by MPX Geoservices Ltd. Data are being processed and results are expected in the coming weeks. In addition, Orex has signed a contract with Quantec Geoscience Ltd (“Quantec”) to undertake an 18 line-kilometre TITAN 24 DCIP (Direct Current resistivity and Induced Polarization chargeability) ground geophysical survey.
The proposed survey comprises 5 lines, each 3.6km long and 400m apart and will be the first ground geophysical survey to be conducted at Los Crestones. During the work Quantec will also collect MT (Magnetotelluric resistivity) data on the central grid line. Scheduled to commence mid-May, the survey is centred over mineralized structures previously tested by shallow diamond drilling in 2011. Orex expects the results to augment existing geophysical, geochemical and geological datasets and intends to use the results to identify additional areas for drill testing later in 2014. Surveying and clearing of grid lines is currently underway.
According to Orex’s President, Gary Cope, “The known mineralized structures may be only a portion of the bigger picture at Los Crestones. Utilization of airborne and deep penetrating surface geophysics at this stage of exploration will allow our geological team to refine drill targets for testing in the latter half of 2014. “
The property was drilled previously by Astral Mining Corporation (“Astral”) now merged with Orex (news release February 12th, 2013). In late 2011 Astral completed 2,618m of HQ and NQ diameter core drilling in 18 holes. Drilling tested three mineralized structures which outcrop at surface. Significant intercepts were identified in many of the holes and may be viewed at www.orexminerals.com/s/Drilling-LosCrestones.asp. Reported results included a best intercept of 5m averaging 39.1 g/t Au, 93.3 g/t Ag and 2.13% Cu from 55m depth in HQ drillhole 11LD011. True width of this interval from the Bohemia structure is approximately 3.53m.
LOS CRESTONES GOLD-SILVER-COPPER PROJECT SINALOA, MEXICO
The Los Crestones project totals 4,168 hectares and is prospective for economic gold, silver and copper mineralization. Mineralization includes north-south oriented structural zones hosting quartz veins, quartz stockworks and breccia fill possibly related to a deeper porphyry and/or diatreme system. Three main structural zones were targeted in the first phases of work. Corona, Bohemia and Indio are elongate structures recognized on surface as erosion-resistant silicified ribs or “crestons”. The airborne and ground geophysical programs commissioned by Orex are designed to complement ongoing geological mapping and geochemical sampling. Orex intends to develop drill targets over the summer; diamond drilling is scheduled for late 2014.
Geology and Mineralization
The property is underlain primarily by volcanic and intrusive rocks. At lower elevations andesite and dacite are seen within an erosional window in creeks and drainages and are representative of the “Lower Volcanic Sequence” commonly recognized throughout western Mexico. At higher levels the sequence is capped by rhyolites of the “Upper Volcanic Sequence”. Felsic to intermediate intrusive rocks are also observed over a large proportion of the property. The INEGI 1:50,000 G13-C12 map sheet depicts two intrusive bodies on Los Crestones though Orex geologists have observed outcropping intrusive material across the property.
Mineralization is concentrated within a series of silicified, north-south trending quartz stockwork and breccia zones most prominent in the southern half of the property. Three structures subject to the most work to date are named “Corona”, “Bohemia” and “Indio”. Historically these structures have been tested in small pits and underground workings, many of which are still accessible today, the largest comprising some 40 m of development. Additional mineralized structures have also been identified and require follow up work.