Oremex confirms find at San Lucas

Vancouver — Oremex (ORE-V) has outlined a zone of disseminated gold-silver mineralization with associated lead and zinc values at the San Lucas project, near the Mexican city of Durango.

The region’s geology is similar to Oremex’s Tejamen silver property, which has a known resource of 10.1 million tonnes grading 123.46 grams silver-equivalent per tonne.

At San Lucas, the company tested a large zone of alteration and mineralization. Chip-sampling returned encouraging values, including 71.9 grams silver and 2.49 grams gold.

More recent mapping, followed by 19 reverse-circulation drill holes, traced the favourable zone along a strike length of more than 1,700 metres. About 3,000 metres were drilled on 100-metre stepouts along the trend of mineralization.

Highlights from drilling include: 4 metres grading 9.26 grams gold and 232.85 grams silver per tonne plus 3.05% zinc and 1.45% lead, and 6 metres of 0.09 gram gold, 203 grams silver, 1.69% zinc and 0.66% lead. Seventeen of the 19 holes intersected mineralization.

The program defined an 800-to-900-metre strike length of better-grade mineralization in andesites and rhyolite. Based on work to date, a carbonate unit is projected to intersect the mineralized zone 100 metres below the present drilling.

Next, drilling will evaluate the potential for “replacement-type” mineralization and the expansion of known zones.