Delineation Drilling by Pan American Confirms Orko Results 32.7 Metres of 267.9 g/t Ag Eq Silver Intercepted
September 08 2009 - 8:30AM
Marketwired Canada
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:
-------------------------------------------------------------------------
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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
---------------------------------------------------------------------------
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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.
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