Orex Exploration
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Public (TSX-V: OX) |
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| Industry | Mining |
| Founded | 1987 |
| Headquarters | Montreal, Canada |
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Key people
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Mark Billings, President & CEO Jacques Levesque, CFO Julie Godard, Corporate Secretary Michael A. Dehn, Director David Hatchette, Director Louis A.-Lapointe, Director Claude Poulin, Director |
| Products | Gold |
| Revenue | $0(2009) |
 $ million |
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| Total assets | $10.191 million(2009) |
| Total equity | $15.489 million (2009) |
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Number of employees
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1 |
| Website | www.orexexploration.ca |
Orex Exploration is a Canadian advanced stage junior gold exploration company headquartered in Montreal, Quebec. It operates in Nova Scotia, Canada with a focus on exploring former gold mines and properties in the Goldboro, Nova Scotia, and surrounding areas of Guysborough County, Nova Scotia.
The properties owned by Orex were the sites of the former Boston Richardson Mine, Dolliver Mountain Mine, West Goldbrook Mine, and East Goldbrook Mine which operated between 1892 and 1912.
Orex's Goldboro main property consists of 37 contiguous claims (600 hectares) held under license from the Province of Nova Scotia. It is located along the eastern shore of Nova Scotia and is wholly owned by Orex. The property is situated 185 kilometers northeast of Halifax and is accessible by a 2.5 kilometer unpaved road from Highway 316 which links the village of Goldboro, Nova Scotia to the town of Antigonish, NS. The main project location is found at Latitude: 45° 10´ North ; Longitude: 61° 40´ West (NTS 11F/04)
On November 26, 2009, following a Joint Venture Agreement with Osisko Mining, Orex staked hundreds of additional contiguous claims which cover 960.8 square kilometers surrounding the Goldboro strike area. The current map of these claims highlighted in yellow is below. Initial exploration on these claims is now underway.
In September 2009, Orex published a Mineral Resource Estimate compliant with National Instrument 43-101 standards. They presented the resource estimate with a variety of cut off grades, the two most notable are represented below:
With a cut-off grade of 0.5 g/t Au, the Mineral Resource was as follows:
The Measured, Indicated and Inferred Resource represents a total of 15,866,000 tonnes grading 2.21 g/t Au (1,085,600 ounces).
The Results of the 2009 Mineral Resource Estimate with a cut-off grade of 1.50 g/t Au are as follows:
The Measured, Indicated and Inferred Resource represents a total of 2,711,000 tonnes grading 4.56 g/t Au (803,100 ounces).
A major issue with this estimate was that 96 DD samples used in previous reserve estimates were assigned a value of 0 g/t in the model due to less than complete historic sampling required for the new geological model being used. This resulted in a significantly lower than expected resource. Orex is currently resampling the areas that these holes covered as well as new areas.
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Wikipedia