A newly commissioned preliminary assessment study is expected to provide Oremex Resources (ORM-V, ORXRF-O) with a first-pass look at the potential economics of its Tejamen silver property in Durango state, within the mineral-rich Sierra Madre Occidental geological province of central Mexico.
The project contains 50.8 million silver-equivalent oz. hosted within an inferred resource of 22.6 million tonnes averaging 66.9 grams silver and 0.05 gram gold per tonne, or 69.8 grams silver-equivalent. This estimate by Wardrop Engineering is compliant with National Instrument 43-101 disclosure standards, and was based on 217 rotary percussion reverse-circulation drill holes totalling 36,139 metres.
The preliminary assessment being undertaken by Snowden Mining Industry Consultants will use the previously calculated resource estimate to develop a range of capital and operating costs for a potential open-pit, heap-leach mine. The scope of the study will also include a financial analysis of costs, silver prices and annual production rates.
Drilling will continue in the meantime to expand and upgrade resources and advance Tejamen to the feasibility stage. The project is accessible by paved and gravel roads.
In May, Oremex released results of column-leaching tests that showed 78% average silver extraction for two columns after 106 days of leaching for one of the columns and 162 days for the other. Additional metallurgical testing is planned.
Oremex has other properties in Mexico, and recently sold some of its non-core assets to other companies for shares and cash. One of its more advanced remaining assets is the San Lucas polymetallic property, also in Durango state. Exploration has focused on testing and defining a large disseminated zinc-lead-silver-gold system. Highlights of last year’s 19-hole drilling program include 4 metres of 9.26 grams gold and 233 grams silver per tonne, and 6 metres of 203 grams silver.
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