Diamond drilling begins at Coneto Gold-Silver Project in Durango, Mexico

9 November 2016 (Last Updated November 9th, 2016 18:30)

Orex Minerals has announced that its project partner Fresnillo has started the Phase-V diamond drilling programme at Coneto Gold-Silver Project in Durango, Mexico.

Orex Minerals has announced that its project partner Fresnillo has started the Phase-V diamond drilling programme at Coneto Gold-Silver Project in Durango, Mexico. 

Fresnillo plans to dig approximately 5,000m in 11 holes at the site.

Orex Minerals holds 45% ownership in this Coneto Project, while the reaming 55% is owned by Fresnillo.

Recently, the mineral concessions of both parties in Coneto Mining District were combined into a company, called Exploraciones y Desarrollos Mineros Coneto S.A.P.I. de C.V. 

The newly formed company will advance the project.

"With two diamond drill rigs being mobilised onto the Coneto Project, we look forward to continuing exploration and advancement."

A technical committee is also formed with members from both companies to guide the exploration projects.

The new drilling programme aims to extend the diamond drilling coverage adjacent to gold-silver intercepts in the Zona Norte (La Bufa, Santo Niño and Reliz veins), Zona Oeste (Loma Verde vein), Zona Centro (Descubridora vein) and Zona Sur (Durazno, Impulsora, and Promontorio veins).

Orex president Gary Cope said: “With two diamond drill rigs being mobilised onto the Coneto Project, we look forward to continuing exploration and advancement with our colleagues at Fresnillo."

Kluane Drilling is appointed to provide the drilling services that will use environmentally low-impact KD-1000 man-portable diamond drill rigs.

The Coneto Mining District is situated at the Mesa Central, stretching from Guanajuato in the south-east to the states of Zacatecas and Durango. It includes one of the largest silver camps and deposits in the world.

The silver and gold mineralisation at Coneto is of intermediate sulphidation style epithermal veins hosted in Tertiary andesites and rhyolites.

Through Exploraciones y Desarrollos Mineros Coneto, both companies collectively own 17,600ha in the Coneto Mining District. This covers a number of mineralised epithermal quartz veins.  

Orex and Fresnillo drilled 93 holes in the first four phases that amounts to around 33,400m.