5 more drill holes released from Orex Minerals (REX : TSX-V) on the Sandra Escobar Project continue to show good silver grades. I wrote about the first hole results just under a month ago on January 26th – click here to read that report.

These 5 holes released help confirm that hole SA-15-001 was not a fluke. Hole 2 (coded SA-15-002) and hole 6 (SA-15-006) both showed similar grades to that of hole 1. Here is a break down of the grades compared to hole 1.

• Hole 1 = 359 Ag (g/t) over 43.13 meters
• Hole 2 = 218 Ag (g/t) over 45.00 meters
• Hole 6 = 328 Ag (g/t) over 33.50 meters
• (all meters are in true thickness)

The largest grades of these 5 holes came from hole 6 which is 350 meters east of hole 1. While the grades from all 5 holes are lower than hole 1 as a whole I take this to still be positive for the expansion of the resource. More exploration is needed to understand just how big this could be.

To answer the question in the title… Not yet but it is positive moving forward.

There are 11 more holes to be released by Orex. The new release does not state a time line but depending on the share movements we could see a couple more holes released before the PDAC which runs March 6 – 9th. I say depending on the share price because if we see the Orex stock move higher throughout this week and next the company may ride that wave into PDAC before any additional holes are released.

Orex is proving to be the exploration story that gold bulls can look to as a potential driver moving forward. As stated in my prior report the Company has sufficient funds to continue this dill program for 2016 – again click here for the full recap in our prior post.

This is a story to watch!

Click here for the full Orex Minerals new release.

*** Do not constitute this as investment advice. I (the author, Cory Fleck) hold shares in Orex and am a personal friend of management. I was not paid for this article in any form. Please do not use this article as a reason to buy or sell any shares. I am working to keep our listeners up to date on major news in the mining industry. Do your own due diligence.