Orex Minerals Inc., is pleased to announce that on the 26th of June, 2013, it signed an option agreement (the "Option Agreement") providing Orex with an option (the "Option") to earn a 100 percent interest in certain mineral claims (the "Persistence Claims") from Cazador Resources Ltd., a private British Columbia corporation ("Cazador").
The Persistence Claims occur in two separate blocks, totaling 3,082.38 hectares and lie peripheral to the western and eastern flanks of highway 37, northwestern British Columbia; 11.5 km south southwest from the North ROK Property, where Colorado Resources Ltd.'s, recent discovery hole yielded 242 meters of 0.63% Cu and 0.85 g/t Au.
As well, the Persistence Claims lie 11 km west southwest from the site of the Red Chris Deposit, presently being prepared for production by Imperial Metals Corp. The Red Chris Proven and Probable Reserves are 301 million tonnes grading 0.359% copper and 0.274 grams per tonne gold. Additionally, the claims lie 8.0 km east from the GJ Property, owned by NGEx Resources Inc., and presently under option to Teck Resources Ltd. The GJ 43-101 compliant Measured and Indicated resource is 153.3 million tonnes grading 0.321% copper and 0.369 grams per tonne gold.
The Persistence Claims occur within the highly prospective "Stikine Arch" area of northwestern British Columbia, host to a number of world-class copper gold porphyry deposits. Within the claims, a British Columbia Government survey has mapped Early Jurassic intrusive rocks that host the porphyry-style Red Chris and GJ deposits. Government sampling of altered rocks has also revealed the presence of anomalous precious and base metal values within the claims. Six samples were collected within the Persistence Claims returning values up to 64 ppb gold, 3.2 ppm silver, 14 ppm copper, 46 ppm lead, 112 ppm zinc and 170 ppm arsenic. One sample collected at the North ROK discovery area yielded a result of 418 ppb gold, 1.5 ppm silver, 3,330 ppm copper, 7 ppm lead, 36 ppm zinc and 13 ppm arsenic. Orex has done no independent sampling to verify the government results.
Orex's President, Gary Cope states, "We are excited to have a significant and strategic land position in this area of future copper and gold production in British Columbia. We hope our exploration efforts yield positive results."
Source: http://www.orexminerals.com