September 08, 2009
Original news release on Orko Silver Corp. can be found by clicking here.
VANCOUVER, British Columbia – Orko Silver Corp. (TSX.V – OK) is pleased to announce that it has received the Phase-I delineation drilling assay results from joint venture partner Pan American Silver Corp. (PAA) on La Preciosa Project in Durango, Mexico.
The Pan American Phase-I delineation drilling at La Preciosa consisted of 31 HQ diamond drill holes for a total of 8,850 meters. To date, PAA has received results for approximately 6,300 metres of the drilling. The holes are located in the heart of the Martha vein structure and were drilled at approximately 50 metre spacing in an area previously drilled by Orko at 100 metre spacing. This data confirms La Preciosa results and will form the basis of a geostatistical study, toward ultimate reserve definition. Phase-II diamond drilling is underway.
In addition to the drilling, PAA has completed 57 trenches on regional exploration targets with the resultant collection of 557 samples. These results have encouraged PAA to commence drilling on the exploration targets such as El Vaquero, Nancy, Baritina, Baritina Norte (Martha North) and Orito Norte.
Pan American has also completed 90% of a planned first phase detailed metallurgical program that has included work index tests, abrasion tests, mineralogical studies, gravity tests, cyanide tests and flotation tests. Full results from these studies will be released when they are completed.
Gary Cope, President of Orko, states; “We are extremely pleased to see that Pan American’s delineation drilling results confirm Orko’s drill results. We also look forward to exploration success in future drilling scheduled to test new exploration targets such as Nancy, Vaquero, Orito Norte, Baritina and Baritina Norte.”
The Phase I delineation drill program has been successful in confirming the results from the previous drilling completed by Orko from 2005-2008. The detailed drilling has been completed in a 50m by 50m grid, centered in the vicinity of Orko hole BP-06-75(ext) which returned results of 39.66m of 235.2 g/t Ag, 0.37 g/t Au for a silver equivalent of 257.5 g/t.
Of particular note in the PAA drilling is a thick, high-grade intercept of the Martha Vein in hole BP09-374. This hole yielded a true thickness of 32.68 metres grading 0.376 g/t gold and 245.4 g/t silver for a silver-equivalent of 267.9 g/t. Within this intercept is 3.50 metres grading 2.185 g/t gold and 1,017.7 g/t silver for a silver-equivalent of 1,148.9 g/t.
Also of interest is hole BP09-359, which yielded 34.77 metres grading 0.278 g/t gold and 202.4 g/t silver for a silver-equivalent of 219.1 g/t, and hole BP09-372 which yielded 22.45 metres grading 0.509 g/t gold and 289.0 g/t silver for a silver-equivalent of 319.5 g/t.
In the area of delineation drilling, Martha occurs as a very thick structure, as shown in the following table:
Summary of Martha Vein intercepts added for this release:
In addition to targeting the Martha vein, some of the westernmost holes also passed through the Abundancia vein.
Summary of Abundancia Intercepts:
A complete table of drill results is available on our website at the link below:
A detailed drill plan map is available on our website at the link below:
Ben Whiting, P.Geo., and George Cavey, P. Geo. are the Qualified Persons for Orko Silver Corp. and take responsibility for the technical disclosure in this news release.
Silver-equivalent for the purposes of this drilling program is defined as silver grade plus 60 times gold grade. Metallurgical recoveries and net smelter returns are assumed to be 100% for the silver-equivalent value. Base metal values are not included in the silver-equivalent.
About Orko Silver Corp.
Orko Silver Corp. is a professional exploration company currently involved in the exploration and development of La Preciosa Project, located near the city of Durango, Mexico. This advanced silver and gold project has a defined NI43-101 compliant resource estimate (see news release Feb 18, 2009). Orko has entered into an agreement with Pan American Silver Corp. to jointly develop La Preciosa (see news release Apr 14, 2009).
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 684-4691 or
Via email or visit our website on line at www.orkosilver.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orko relies upon litigation protection for forward-looking statements.
*Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. Mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can econ
omically and legally extract or produce. We use certain terms in this press release, such as “measured”, “indicated”, and “inferred” resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 000-51923, which may be secured from us, or from the SEC’s website at http://www.sec.gov/edgar.shtml.
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