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Orex and Pan American Silver Corp. Agree to Form Joint Venture for the Sandra Project
Orex and Pan American Silver Corp. Agree to Form Joint Venture for the Sandra Project ...
About this update from Orex Minerals Inc.
[{"type":"text","content":"\n\n\n\nOrex and Pan American Silver Corp. Agree to Form Joint Venture for the Sandra Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 26, 2020\n\n\n\nVANCOUVER, March 26, 2020 /CNW/ - Orex Minerals Inc. – (TSX-V: REX – OTCQB: ORMNF) (\"Orex\") is pleased to announce that it has entered into an agreement to form a Joint Venture with Pan American Silver Corp. – (TSX: PAAS – NASDAQ: PAAS), through its subsidiary Plata Panamericana S.A. de C.V. (\"Pan American\"), to further explore and develop the Sandra Project, formerly the Sandra-Escobar Project, in Durango, Mexico (the \"Project\").  Terms of the Joint Venture arrangement are based on a Letter Agreement signed in July of 2019, (see Orex News Release July 8th, 2019).  \n\n \n \n \n \n \n \n\n \nThe Sandra Project is a consolidation of two groups of claims, each controlled by the two participant parties.  Orex and Pan American will own a 40% and 60% interest, respectively, in a new joint venture company that will be formed for the Project. Each of Pan American and Orex will be obligated to make contributions to the joint venture company in proportion to their respective ownership interests and Orex will be the initial operator of the Project, subject to the terms and conditions of the shareholders agreement between the parties.  Orex intends to finalize an initial program and budget with Pan American and commence work on the Project as soon as possible. \nOrex's President, Gary Cope said \"We are very pleased that we have finalized this new joint venture arrangement, which allows Orex and Pan American to continue the advancement of the Sandra-Escobar project, previously initiated in our joint venture with Canasil Resources Inc.\".\nSandra Escobar Silver-Gold Project, Durango, Mexico\nSandra Escobar is situated north of the town of Tepehuanes, Durango, in the heart of the \"Mexican Silver Trend\", midway between the mining districts of Tovar and Guanacevi and is 75 km west of Silver Standard's La Pitarrilla. This prol...