Orex Minerals and Pan American Silver have agreed to form a joint venture to further explore and develop the Sandra project, formerly the Sandra-Escobar project, in Durango, Mexico. The project is a consolidation of two groups of claims controlled by the companies. Orex and Pan American will own 40% and 60% interests, respectively, in a new joint-venture company that will be formed for the project.
Orex will be the initial operator of the project. The Sandra project is located north of the town of Tepehuanes in Durango state. The project consists of the Sandra property of 6,335 ha and Escobar property of 635 ha of mineral concessions.