Business
Orex Signs a Non-Binding Letter of Intent to Acquire 100% of the Valenciana Gold-Silver Project in Zacatecas State, Mexico
Orex Signs a Non-Binding Letter of Intent to Acquire 100% of the Valenciana Gold-Silver Project i...
About this update from Orex Minerals Inc.
[{"type":"text","content":"\n \n \n \n Orex Signs a Non-Binding Letter of Intent to Acquire 100% of the Valenciana Gold-Silver Project in Zacatecas State, Mexico\n \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 Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Oct. 3, 2023\n \n \n /CNW/ -\n \n Orex Minerals Inc.\n \n (TSXV: REX) (OTCQB: ORMNF)\n \n (\"Orex\"\n \n or the\n \n \"Company\")\n \n is pleased to announce the signing of a non-binding Letter of Intent (the \"\n \n LOI\n \n \") with Exploraciones El Cairo S.R.L. de C.V. (\"\n \n EEC\n \n \"), a Mexican registered private company, to acquire 100% of the Valenciana Gold-Silver Project in Zacatecas State,\n \n Mexico\n \n (the \"\n \n Valenciana Property\n \n \").\n \n \n The Valenciana Property hosts high-grade epithermal gold and silver veins, with base metals of lead and zinc, in Cretaceous sedimentary units and Tertiary rhyolitic and monzonitic intrusive rocks. It is located on the Mesa Central within the prolific \"Silver Trend\" of\n \n Mexico\n \n .\n \n \n Orex's President & CEO,\n \n Ben Whiting\n \n , P.Geo., said;\n \n \"The discovery potential of the Valenciana District was recognized by geologists\n \n Perry Durning\n \n and\n \n Bud Hillemeyer\n \n back in 1996. Drilling later that year yielded excellent results, however, a worldwide exploration slowdown took place in 1997 and the main vein intercepts did not receive further work. This is an excellent opportunity to restart exploration at Valenciana.\"\n \n \n \n \n VALENCIANA GOLD-SILVER PROJECT,\n \n ZACATECAS, MEXICO\n \n \n \n \n Located north of the village of Valenciana in northern Zacatecas State, approximately 30 kilometres north of the Nieves Mining District and 33 kilometres southeast of the town of\n \n Juan Aldama\n \n , the Valenciana Property consists of 277.18 hectares of mineral concessions. The central target area covers about 2.7 kilometres of the main east-southeast Valenciana vein system. There are signs of early production, with old mine shafts and adits, but no historic production documentation is available.\n \n \n Hydrothe...