DAILY NEWS Feb 11, 2013 4:07 PM - 0 comments

GOLD: Orex counts more gold, high grade at Goldboro

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NOVA SCOTIA – Orex Exploration of Montreal reports a 32% jump in measured and indicated ounces as well as a 20% jump in inferred gold ounces at its Goldboro project 175 km northeast of Halifax. All told, the property is estimated to contain 886,100 oz of gold and a preliminary economic assessment is in the works.

At a cut-off of 2.0 g/t Au, the measured and indicated resource at Goldboro is 2.6 million tonnes at 5.59 g/t Au and the inferred resource is 2.5 million tonnes at 5.15 g/t Au.

Orex noted in a news release: "Gold mineralization at Goldboro occurs in a tightly folded sequence of Cambro-Ordovician greywacke and slate of the Goldenville Formation. Quartz vein systems associated with the hinge zone of the moderately east plunging Upper Seal Harbour anticline are the most important hosts for gold in this district, but gold values are also present in slate units adjacent to vein contacts. Mineral resources reported above occur in three spatially contiguous zones along the Upper Seal Harbour anticline. These comprise the total 'Goldboro deposit' and consist of the Boston Richardson zone, the East Goldbrook zone and the West Goldbrook zone. Each zone is characterized by stacked, gold bearing quartz veined stratigraphic intervals that can be correlated both along strike and down dip."

More information is available at OrexExploration.ca.

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