Dorex updates on Carmelita IOCG project

Dorex Minerals Inc., 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, has received the analytical results from the first two of seven widely spaced diamond drill core holes from Carmelita property.

The property is located within the Chilean “Iron Belt” at the south end of the Atacama Desert, Chile. This belt is host to significant copper and iron mines over a 350 kilometers length.

The Candelaria and Manto Verde copper mines with iron bi-products are located in the northern end of the belt.

Further to the south nearer Carmelita there are significant iron producers like El Tofo, El Pelito and El Romeral. These are all classified as Iron Oxide Copper Gold (IOCG) deposits.

Providing drilling details of the hole CA-01, the company said that intersected Propylitic altered volcanics (epidote and chlorite) from surface to end of hole (131.6 m) with disseminated magnetite from 10.1 to 129.0 meters.

High grade magnetite between 91.8 and 98.6 meters returned weighted average of 18.9% iron, 0.68% copper and 0.12 g/t gold.

The company further said that the hole CA-05 was drilled 3.2 km to the northeast and intersected Propylitic altered volcanics (epidote) from surface to end of hole (100.7 m) with a weighted average of 4% iron.

Higher grade copper mineralization was intersected from 47 to 50 m with weighted average of 0.44% copper.

Peter Walton, President and CEO, said that the geology and analytical results are encouraging for a classic IOCG style mineralization.

It is especially encouraging that the mineralization style has been intersected by all the holes within an 11 square kilometer area tested during this drilling. The remaining results will be announced when available, concluded Mr. Walton.