MINING MARKETS & INVESTMENT NEWS — Kobex lists on Vancouver

Kobex Resources (KBX-V) has been called for trading on the Vancouver Stock Exchange. The Vancouver-based company raised $1.2 million in its initial public offering, which consisted of 2 million shares priced at 60 cents, and currently has 8.9 million shares issued and outstanding.

The company is exploring historic polymetallic and precious metals mining camps in the Mexican states of Durango, Nayarit and Zacatecas.

Kobex’s Jarvis concession encompasses six properties covering more than 2,600 ha in Durango and Zacatecas.

Among the most advanced of the properties is the Cerro Prieto, for which Luisman calculated a possible resource of 7 million tonnes grading 1.32% lead, 1.82% zinc and 174 grams silver per tonne.

Los Mantos, a silver property, supported a 30-tonne-per-day mine run by the Mexican government in the 1970s. The property hosts six deposits and 32 veins, 11 of which returned more than 500 grams silver during channel sampling.

The San Lucas de Ocampo gold-silver property was explored by both Luisman and Echo Bay, whose 2-line chip sampling program returned 0.88 gram gold and 31.4 grams silver over 30.5 metres and 0.44 gram gold and 31.2 grams silver over 30 metres. Drilling is planned.

Chip and channel sampling on five mineralized structures by a Mexican agency at the Mezquital polymetallic property returned 102-247 grams silver, 2-8% lead, and 0.5-11.79% zinc.

A small underground silver mine has been operating adjacent to the Chalchiuites property, in Zacatecas state, and three veins are known to exist there. Mapping and a geophysical survey will attempt to delineate the known structures and identify new ones.

The remaining Jarvis property, La Parrilla, has been explored little in recent years, but the area has a history of polymetallic production.

Kobex also controls the Gallo de Oro gold property in Nayarit state, and has 3-year option deal to acquire the Corral gold-silver property in Durango state.