Encouraging results reported by Orex at Onitap property

A drill core sample from the Goldboro property in Nova Scotia assayed 1.42 oz gold per ton (uncut) over 25 ft, Orex Exploration (ME) reports.

Orex may earn a 50% interest in the property from Onitap Resources (TSE) by bringing the project to the final feasibility stage by the end of 1989.

The above assay was from 1106 hole BR-59. Other results included 10 ft of 0.36 oz from hole BR-52, 29.5 ft of 0.25 oz from hole BR-56, and 22.5 ft of 1.34 oz (uncut) from hole BT-58.

The property’s Boston-Richardson belt was mined, partially, between 1893 and 1912. Orex says it will be able to recalculate actual reserves by including the tons in the possible category, based on the well defined sections of the known zones and past production of the Boston-Richardson mine in an identical geological context.

Work at the property includes rehabilitation of an existing shaft. Surface infrastructures have been installed, a ramp started and the shaft collar is near completion.

Orex says it will drill an additional 40,000 ft this summer to increase the proportion of probable reserves and obtain enough information on some of the other belts to include them in the possible category.