Dorex Intersects 92.6 Meters of 5.2% Iron Mineralization and 1.9 Meters of 1.4 % Copper, 0.42 g/t Gold, 3.3 g/t Silver on Its Ca
25 Juni 2008 - 12:36AM
Marketwired
VANCOUVER, BRITISH COLUMBIA -
The company is pleased to report analytical results from the
remaining of the seven widely spaced (11 sq km) diamond drill core
holes (DDH) from its 100% owned Carmelita property. The property is
located within the Chilean "Iron Belt" at the south end of the
Atacama Desert, Chile.
Peter Walton President & CEO states "The Company is
encouraged by the intersection of calcite veins with silver in the
holes which suggests that the holes could be drilled into the upper
part of a large classic Iron Oxide Copper Gold (IOCG) style
mineralization."
Highlights are as follows.
CA-02: Hydrothermal and Propylitic altered (epidote) volcanics
that are intermittently recrystalized from the surface to the end
of the hole to a depth of 182.9 meters. This hole intersected
magnetite (Fe2 O4), both disseminated, in bands and quartz veins,
from 18.5 meters to 182.6 meters for a total length of 174.1
meters. The interval from 89.7 to 182.3 meters had a weighted
average of 5.2% iron. A notable 1.9 meters quartz vein with copper
sulphides and magnetite at 167.3 meters had a weighted average of
1.4% copper, 0.42 g/t gold and 3.3 g/t silver.
CA-03: The hole was drilled 2.4 kilometers to the northeast of
CA-02 and intersected Propylitic altered (epidote) and silicified
(chalcedony) volcanics that are intermittently recrystalized from
the surface to the end of the hole to a depth of 93.3 meters. The
hole intersected hematite in bands with quartz plus or minus
calcite vein, as well as quartz veins with copper oxide
(malachite). Below 80 meters the volcanics contain fine
disseminated sulphides. The interval from 21.6 to 64.8 meters had a
weighted average of 4.5% iron. A notable 2.3 meters quartz vein
with oxide copper mineralization at 60.5 meters had a weighted
average of 0.4% copper, 0.05 g/t gold and 29.3 g/t silver.
CA-04: Drilled to a depth of 150 meters; The hole was drilled
1.5 km to the northeast of the CA-03 and intersected Propylitic
altered volcanics (epidote and chlorite) from 100.9 to 130.6 meters
with a weighted average of 5.4% iron. Higher grade copper
mineralization was intersected from 104.9 to 111.5 meters for a
total of 6.6 meters with weighted average of 0.42% copper.
CA-06: The hole was drilled in the southeastern part of the 11
square kilometer area tested during this drilling. It intersected
Hydrothermally and Propylitic altered (epidote) volcanics with
local silicification (chalcedony) and recrystalization from the
collar to the end of hole totaling 199.9 meters. It has
intermittent disseminated magnetite (Fe2 O4) with grades up to 5.5%
iron, and copper oxides with anomalous copper values.
CA-07: The hole was drilled 0.5 km to the southeast of CA-06 and
intersected Hydrothermally and Propylitic altered (epidote)
volcanics with local Potassic metasomatism (adularia) and
recrystalization from the collar to the end of hole totaling 140.0
meters. The interval from 100 to 140 meters had a weighted average
of 4.0% iron.
A summary of sample preparation, QA/QC and method of analysis is
described in the Company's June 16, 2008 news release.
SUMMARY:
The 7 diamond drill holes intersected IOCG style alteration and
mineralization with up to 18.9% iron and 0.7% copper over 6.8
meters.
FUTURE PLANS:
Dorex Minerals will be commissioning Guarachi Ingenieros of
Santiago, a reputable Chilean consulting Engineering group, to
perform bench scale testing on core sample splits for concentration
and extraction of magnetite by magnetic-gravity and
magnetic-pneumatic floatation to establish an approximate grade for
a high grade iron concentrate.
The Company is planning to investigate the economic parameters
to determine the preliminary economic assessment of commercial
extraction of magnetite. The Company estimates that both studies
can be completed in the 3rd Quarter of 2008.
A follow up drilling program will be designed from the
conclusion and recommendations of the bench testing and preliminary
economic assessment studies.
ABOUT CARMELITA PROPERTY:
The Carmelita Iron Oxide (magnetite) project located in the
"Iron Belt" of Chile, a segment of the Atacama Fault System within
the Chilean coastal belt.
The Chilean Iron Belt is host to significant copper and iron
mines over a 350 kilometers length. The Candelaria and Manto Verde
copper mines which produce high grade iron ore concentrate as
bi-products by processing the copper concentrate tailings through
low cost technology are located in the northern end of the belt.
Farther to the south and closer to the Carmelita project there are
significant iron producers like El Tofo, El Pelito and El
Romeral.
All these deposits are classified as IOCG deposits. More recent
IOCG discoveries include Cerro Negro.
Dorex Minerals recently completed diamond drill program (7 holes
for 1,050 meters) tested high magnetic anomalies, areas with
copper-gold mineralization and areas with abundant iron oxides,
mainly magnetite.
The Carmelita project has good infrastructure situated next to
the national railway, adjacent to the national electrical grid and
with access to water.
The railway connects the property to the port of Coquimbo 85
kilometers to the south where Compania Acereo del Pacifico ship
iron ore from their 44,000 tonnes per day El Romeral mine near La
Serena. To feed its pelletizing plant in Huachipato, Compania
Acereo del Pacifico is buying iron ore from adjacent mines like El
Tofo.
The information contained in this news release has been reviewed
and approved by Tor Bruland, P. Geo., a qualified person under the
definitions established by the National Instrument 43-101.
For further information please visit the company's website
www.dorex.ca.
For further updates please send in your email address to
info@dorex.com or call 604-633-9992. We will send out regular
updates and news releases to everyone who requests them.
About Dorex Minerals Inc:
Dorex Minerals Inc. is a base and precious metals exploration
and development company focusing on its 100% interest Carmelita
property located within the prolific mining region of Coastal Belt
of the Andean Cordillera of Chile.
ON BEHALF OF THE BOARD OF DIRECTORS OF DOREX MINERALS INC.
Peter Walton, President / CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
News Release. This release has been prepared by management and no
regulatory authority has approved or disapproved the information
contained herein.
Contacts: Dorex Minerals Inc. Peter Walton President / CEO (604)
688-1160 Dorex Minerals Inc. David Joseph Consultant / Corporate
Development (604) 633-9992 Email: info@dorex.ca Website:
www.dorex.ca
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