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Oremex Reports Positive Results from Geotechnical Review for Tejamen Silver Property
Oremex Reports Positive Results from Geotechnical Review for Tejamen Silver Property.
About this update from Monarca Minerals Inc.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Oct. 30 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the\n\"Company\") is pleased to announce that it has received an Initial Evaluation\nof the proposed pit slopes for its Tejamen silver property in Mexico from Call\n& Nicholas, Inc. (\"Call & Nicholas\") of Tucson, Arizona.\nThe evaluation concludes that overall geotechnical conditions observed in\nthe field, and drill holes are very favourable. Laboratory rock strength tests\nindicate a high rock quality. The findings generally support the pit slope\nangles utilized in the independent Preliminary Assessment Study completed by\nSnowden Mining Industry Consultants (\"Snowden\"). (Please refer to news release\ndated October 3, 2006.)\n\"The Call & Nicholas study represents another important step to advancing\nthe Tejamen property,\" said Linda Thorstad, CEO.\nThe Company's most advanced projects are its Tejamen silver property and\nits San Lucas polymetallic property, both located in Mexico. An independent\nresource study (NI 43-101 compliant, as reported in April 11, 2006 news\nrelease) concluded that the Tejamen property contains a silver-equivalent\nresource of 50.8 million ounces in a total of 22.6 million tonnes, grading a\nsilver-equivalent of 69.8 grams per tonne (2.04 ounces per ton).\nThe independent Preliminary Assessment Study prepared by Snowden has\nconcluded that a 10,000 tonne per day open pit mining and heap leach\nprocessing mining operation at the Tejamen property can support a profitable\noperation when silver prices average US$8 per ounce and silver recoveries\nexceed 65 percent. Metallurgical testwork to date indicates recoveries for\nsilver in excess of 70 percent.\nIn other news, the Company has met the requirements for a Tier 1 company\nin accordance with TSX Venture Exchange Policy 2.5 and the Company's\nclassification has changed to Tier 1 Mining Issuer effective Oct. 24, 2006.\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy and accuracy of this release.\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 reser...