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http://oremex.com/
Oremex is a Canadian-based exploration company with a focus on the acquisition and development of mineral properties in Mexico. The Company's Tejamen project has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (Wardrop Engineering Report NI 43-101 compliant April 2006). Snowden Mining Industry Consultants completed a Preliminary Assessment Study (NI 43-101 compliant October 2006) demonstrating that the project can support a 10,000 tonne per day open pit, heap leach mining operation.
The Tejamen Silver Property (“Tejamen”) is the Company’s most advanced project and principal focus for development. As outlined in a Wardrop Engineering Inc. Technical Report dated April 13, 2006, Tejamen has an Inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne (“gpt”).
According to an independent Preliminary Assessment Study conducted by Snowden Mining Industry Consultants Inc. (“Snowden”) (as announced in news release October 3, 2006), Tejamen, a potential open pit heap leach project, has an estimated net present value of US$97.4 million at US$12 per ounce silver and US$155.5 million at US$15 per ounce silver (at a 7% discount).
To date, Oremex has completed 240 drill holes for a total of 37,500 metres of drilling on the property. The Company believes that substantial opportunity remains to increase the resource base through additional drilling programs. The Tejamen mineral resource remains open at depth and along trend.
Tejamen consists of 22 exploration concessions covering 1,672 hectares. The property is located approximately 130 kilometres northwest of the city of Durango, Mexico and is easily accessed by paved highway from Durango to the municipality of Nuevo Ideal and then by good gravel road from Nuevo Ideal to the village of Tejamen. The mineral concessions are held by Minera Montana S. de R.L. de C.V. (“Minera Montana”), a wholly owned Mexican subsidiary of Oremex Resources Inc.
In April 2006, the Company released results of a NI 43-101 compliant Technical Report prepared by Wardrop Engineering Inc. The report concluded that Tejamen has an Inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 gpt in two zones, Los Mantos and Cerro Prieto.
