Vancouver – Continued drilling by Oremex Resources (ORM-V) on its Tejamen project, in the State of Durango, Mexico, has intersected wide zones of high-grade silver in the El Manto zone.
Since December of 2003, the recently-listed silver explorer has been aggressively working on its Mexican projects with most of the focus on Tejamen, situated in the Sierra Madre Occidental Gold Belt. Extensive drilling has confirmed the large zone of high-grade silver on the El Manto area. Oremex expects the mineralized zone is amenable to possible open pit mining.
The latest round of 16 holes brings the total number drilled on the project to 91, since the company commenced its program.
Results from this latest reverse circulation drill program include:
- Hole MMT-097 This RC hole on El Manto intersected a 139 metre section (from 14 metres) grading 105.5 grams silver per tonne, including 8 metres of 383 grams silver near the top of the drill hole and a 44 metre section at the bottom of the hole averaging 174 grams silver;
- Hole MMT-101 An extensive high-grade intercept of 89 metres (from 80 metres) assayed an impressive 621 grams silver, and included yet even higher-grade sections of 4 metres grading 1862.5 grams silver, 8 metres of 989 grams, 10 metres of 1201 grams and the hole bottomed out in 11 metres of mineralization grading 689 grams silver.
Mineralization at the El Manto zone occurs both along and adjacent to an andesite-rhyolite contact as well as in quartz veins associated with a northeast trending series of faults-fractures. The steeply dipping fault structure formed the plumbing for the hydrothermal system to mineralize the fault zone as well as pool, or spread laterally along the andesite-rhyolite contact. A halo of lower grade silver mineralization surrounds the high-grade veins.
Oremex’s drilling is testing the lateral extent of the El Manto mineralization, which remains open in all directions.
The company reports 22.8 million shares outstanding and has recently traded in the 75 per share range.
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