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Sector NewswireTM Sector: Mining - Metals and Minerals : Sub sector: Precious Metals :
News Release - April 24, 2009 05:34 PM ET
Special Situation Advisory - Orex Exploration’s New Resource Estimate Report Imminent and Projected Well in Excess of 2M Oz Gold
New gold resource estimate expected ~mid May 2009 is projected to be well in excess of 2M Oz gold. Orex Exploration is employing protocols and metallic screen assays which incorporate the extreme gold nugget effect native to Goldboro.
NEW YORK, NY, April 24, 2009 /Sector Newswire/ - Precious Metals Review of Orex Exploration Inc. (TSX-V: OX) (Frankfurt: O5D) provides insight into the opportunity afforded investors as Orex is on the verge of completing a new NI 43-101 resource estimate report on their 100% owned Goldboro Property in Nova Scotia, Canada.
The full Precious Metals Review / Valuation Alert Special Situation Advisory with chart may be seen at http://sectornewswire.com/PMRoxApr09.pdf
Excerpts: "Orex Exploration Inc. (TSX-V: OX) is a Canadian-based gold mining exploration and development company listed on the TSX Venture Exchange (ticker symbol OX) (Frankfurt: O5D). The Company has come to our attention due, in part, to the fact Orex is on the verge of completing a new NI 43-101 resource estimate report on their 100% owned Goldboro Property in Nova Scotia, Canada and the resulting extraordinary opportunity afforded to prospective investors. A research mining journal sourced for this Precious Metals Review is confident Orex’s new resource estimate will reveal a sizeable increase in the resource estimate, exceeding 2M ounces of gold. It appears OX.V is highly undervalued relative to the inherent nature of the Goldboro property and its potential. It appears OX.V is highly undervalued relative to the inherent nature of the Goldboro property and its potential. Equally as important, Orex has a highly experienced and talented management team dedicated to maximizing shareholder value."
"The best place to find a gold mine is beneath an old mine. Historic production yielded ~55K ounces at an average grade of 4.5g/t and ceased in ~1912. Historically this mine only found the first top belt, the Boston-Richardson belt; they drilled down 40 or 50m, hit sandstone, and figured that's it. In 2005 Orex drilled down to 200m and at about 50 or 60m hit the next belt system - Orex has not yet found the depth or breadth of this."
"Orex Exploration Inc. (TSX-V: OX) is on the verge of completing a new NI 43-101 mineral resource estimate on their 100% owned Goldboro Property in Nova Scotia, Canada. Due out ~mid May 09, it is believed this report will reveal a sizeable increase in the resource estimate; The research mining journal thru its research projects a resource estimate well in excess of 2M ounces. Management of Orex contacted by the research mining journal were able to confirm the journal was not out of line in its expectations based on the fact the previous resource estimate Orex is building on, was over a 225m strike length and now the strike length is up to 1km. Additionally, Orex will have a much better definition of the grade, employing not only fire assays but also protocols and metallic screen assays which incorporate the nugget effect native to Goldboro. The NI 43-101 report is being produced at the 60% mark of their drilling campaign (12,000m have been done out of 20,000m planned) and interpreted data of the belt systems will dramatically add to the 3D model developed in 2006 that this campaign is built upon."
"Valuation Analysis/Commentary:
The full Precious Metals Review / Valuation Alert Special Situation Advisory with chart may be seen at http://sectornewswire.com/PMRoxApr09.pdf
This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.
SOURCE: Sector Newswire per: Precious Metals Review
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