Professional Documents
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S t Cruz
C Returns
R t to
t Production:
P d ti
Exploration Continues in the Santa Cruz
Mining Camp
Camp, Durango,
Durango Mexico
Ben Whiting,
g Douglas
g Cavey
y and Jesus Betancourt
1er Congreso
Tendencias de la Actividad Minera en Mexico”
“Tendencias Mexico
4 – 6 Septiembre 2008
Forward Looking Statements
Santa Cruz Au
Au-Ag-Cu
Ag Cu Project
A joint venture between
Silverex, S.A. de C.V.
Durango, Mexico
and
Orex Minerals Inc.
Vancouver, Canada
People
Main Objectives
1. Explore a highly prospective and very
under-tested epithermal
p Au-Ag g mining
g
camp in the heart of the
“Silver
Silver Lake Trend”
Trend
Sierra Madre Occidental
2. Return to Production
9Santa Cruz,
Cruz like many Mexican mining camps, has a
long history of exploration and production at a small scale
91780s – Earliest phases of small scale mining.
91908 – Santa Cruz Mining Company (SCMC) created.
91910-1917 – Mexican Revolution.
1918 1934 – Intermittent production by SCMC.
91918-1934
91967-1983 – Private – Dougherty Family
91985 present – Private – Salas Family
91985-present
92005 – Short exploration program by Minco
92007 – Orex Minerals joins with Silverex
92008 – Exploration and Production Resume
Current Status
9 Small-scale
Small scale mine extracting tennantite-tetrahedrite
tennantite tetrahedrite (Cu,
(Cu Ag
Ag, Au)
direct-shipping ore being sent to China.
9 Drilling planned for the Santa Cruz vein to identify additional “clavos”
clavos
(mineralized shoots) along strike adjacent to the mine workings.
g
9 Highest g
grab sample
p recorded Au 5,500
, g
g/t and Ag
g 110,000
, g
g/t.
100009 Jesus Maria Chip - 1.00m 10.060 817.0 1420.6 112 470 647
100011 Jesus Maria Chip - 1.10m 1.444 663.6 750.2 114 826 1630
100013 Christian Chip - 1.50m 13.150 929.9 1718.9 134 187 382
100015 Santa Cruz Rock grab 6.500 882.1 1272.1 102000 95 2208
*Silver-equivalent is defined as silver grade plus 60 times gold grade. Metallurgical recoveries and net smelter
returns are assumed to be 100% for this purpose. Base metal values are not included in the silver-equivalent value.
La Christian Showing
Exploration - Current Activities
Di
Diamond
d Drilling
D illi N off H
No. Holes
l 10 6 15
Metres 3000 2000 5000
@ $150/m $450,000 $300,000 $750,000 $1,500,000
Analytical No of Samples
No. 2000 2000 4000
@ $25/sample $50,000 $50,000 $100,000 $200,000
Geol/Tech (Re: Drilling)
@ $10/metre $30,000 $20,000 $50,000 $100,000
Metallurgical Testing $10,000 $10,000 $10,000 $30,000
Licensed Surveying $5,000 $5,000 $5,000 $15,000
Support
pp Services $6,000
$ , $4,000
$ , $10,000
$ , $20,000
$ ,
Report Preparation /Management $10,000 $10,000 $20,000 $40,000
Contingencies @ 10% $56,100 $39,900 $94,500 $190,500
Totals $617,100 $438,900 $1,039,500 $2,095,000
Production - Current Activities
Flotation Cells
Froth Flotation – Santa Cruz Mill
Fire Assay – Santa Cruz Lab
Summary
Share Structure
IIssued:
d 47,391,470
47 391 470
Warrants: 4,048,750
Options: 4,082,000
Fully diluted: 55 522 220
55,522,220
52 Week
W k Low/High
L /Hi h CDN $0.15
$ to $
$0.51
Warrants Outstanding
Warrants Outstanding
Each warrant is exercisable into one common share
* Exercise price presented is a weighted average of all options that expire in the year.
Contact Information
Contact Information