Orko Silver Corp. (TSX VENTURE: 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:
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Vein From To Core True Au Ag Ag-Eq
(metres) (metres) Length Width (g/t) (g/t) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
-------------------------------------------------------------------------
BP09-355 280.06 314.05 33.99 33.99 0.216 147.5 160.4
-------------------------------------------------------------------------
BP09-356 298.10 313.10 15.00 14.94 0.551 302.3 335.3
-------------------------------------------------------------------------
BP09-357 283.25 320.00 36.75 36.19 0.272 170.3 186.7
-------------------------------------------------------------------------
BP09-358 289.25 312.90 23.65 23.56 0.346 126.5 147.3
-------------------------------------------------------------------------
BP09-359 356.00 393.00 37.00 34.77 0.278 202.4 219.1
-------------------------------------------------------------------------
BP09-360 281.00 288.60 7.60 7.48 0.091 52.4 57.9
-------------------------------------------------------------------------
BP09-361 271.85 286.70 14.85 14.85 0.137 145.6 153.8
-------------------------------------------------------------------------
BP09-362 338.02 377.25 39.23 38.63 0.226 107.7 121.2
-------------------------------------------------------------------------
BP09-363 277.00 285.55 8.55 8.26 0.099 85.6 91.5
-------------------------------------------------------------------------
BP09-364 293.00 315.65 22.65 22.56 0.238 194.3 208.6
-------------------------------------------------------------------------
BP09-365 337.85 363.00 25.15 23.63 0.505 98.3 128.6
-------------------------------------------------------------------------
BP09-366 265.20 310.15 44.95 44.78 0.314 128.5 147.4
-------------------------------------------------------------------------
BP09-367 411.75 430.15 18.40 17.29 0.380 154.6 177.4
-------------------------------------------------------------------------
BP09-368 266.20 278.65 12.45 12.45 0.509 171.0 201.5
-------------------------------------------------------------------------
BP09-369 327.37 337.20 9.83 9.68 0.194 162.4 174.1
-------------------------------------------------------------------------
BP09-370 308.85 314.75 5.90 5.54 0.262 87.6 103.3
-------------------------------------------------------------------------
BP09-371 228.55 243.95 15.40 15.34 0.364 118.8 140.6
-------------------------------------------------------------------------
BP09-372 199.20 222.00 22.80 22.45 0.509 289.0 319.5
-------------------------------------------------------------------------
BP09-373 187.40 207.45 20.05 19.75 0.183 99.1 110.1
-------------------------------------------------------------------------
BP09-374 221.00 253.80 32.80 32.68 0.376 245.4 267.9
-------------------------------------------------------------------------
-------------------------------------------------------------------------
In addition to targeting the Martha vein, some of the
westernmost holes also passed through the Abundancia vein.
Summary of Abundancia Intercepts
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Vein From To Core True Au Ag Ag-Eq
(metres) (metres) Length Width (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BP09-362 49.50 53.70 4.20 4.20 0.061 333.8 337.5
---------------------------------------------------------------------------
BP09-367 161.80 166.40 4.60 4.53 0.160 273.9 283.5
---------------------------------------------------------------------------
BP09-369 58.80 63.30 4.50 4.50 0.120 124.5 131.8
---------------------------------------------------------------------------
---------------------------------------------------------------------------
A complete table of drill results is available on our website at
the link below:
http://www.orkosilver.com/i/pdf/drillresultsnews.pdf
A detailed drill plan map is available on our website at the
link below:
http://www.orkosilver.com/i/pdf/drillplanmapnews.pdf
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
Gary Cope, President
For further information, contact Orko Silver Corp. via our
website on line at www.orkosilver.com.
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 economically 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for this News Release.
Contacts: Orko Silver Corp. (604) 684-4691 (604) 684-4601 (FAX)
Email: info@orkosilver.com Website: www.orkosilver.com
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