Business
Oremex Provides Update on Tejamen Silver Property
Oremex Provides Update on Tejamen Silver Property.
About this update from Monarca Minerals Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, June 25 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the\n"Company") today announced an update on progress at its Tejamen Silver\nProperty in the State of Durango, Mexico. The Company's representatives are\ncontinuing discussions with the Ejido of Tejamen, which holds the surface\nrights to the Tejamen Silver Property. Discussions are progressing well and\nthe Company is confident that a settlement that will benefit both parties can\nbe achieved.\n\n\nA NI 43-101 compliant preliminary assessment study completed in October\n2006 by Snowden Industry Mining Consultants ("Snowden") scoped the project as\na 10,000 tonne per day heap leach operation with open pit mining from the two\nmineralized zones, Cerro Prieto and Los Mantos. As a portion of the village of\nTejamen lies between the two zones, Snowden considered an early move of the\nvillage to be an important component in advancing the project to production.\n\n\nManagement has now completed an internal analysis based on data and cost\nestimates from the Snowden report that supports initial production from Los\nMantos, the southern zone of mineralization, which would preclude the need to\nmove the village of Tejamen in the near term. Disturbance to the village would\nbe minimal under this plan of operations and production could proceed for a\nminimum of four years. The Los Mantos Zone contains approximately 70 percent\nof the silver content defined to date on the property. It also offers\nsignificant exploration potential for the addition of silver resources on the\nproperty. Under the guidance of the Company's new project development manager,\noptions for commencement at Los Mantos with follow-up mining at the Cerro\nPrieto Zone are under consideration.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy and accuracy of this release.\n\n\nNational Instrument 43-101 requires the following statement: that the\npreliminary assessment is preliminary in nature, that it includes inferred\nmineral resources that are considered too speculative geologically to have the\neconomic considerations applied to them that would enable them to be\ncategorized as mineral reserves, and there is no certainty that the\npreliminary assessment will be realized.\n\n\nForward-Looking Statements: The above contains f...