TOP SMALL CAP NEWS - ORKO SILVER - OKOrko Silver Announces Two Major Developments at La Preciosa
Tue Mar 27, 9:01 AM
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2007) - Orko Silver Corp. (TSX VENTURE: OK.V) is pleased to announce that it has received further assay results from the current diamond drilling program in the "Mina La Preciosa" and "La Preciosa Norte" sectors on La Preciosa Project in Durango, Mexico.
1) Orko Silver Drills 3.92 m of greater than One Kilogram/tonne Silver Equivalent
Of particular note is a new substantial width and grade intercept of the Abundancia Vein in "La Preciosa Norte" sector in hole BP06-78. It yielded 6.45 metres true width grading 640.6 g/t Ag and 1.101 g/t Au, for a Silver-Equivalent of 706.7 g/t including 3.92 metres true width grading 981.3 g/t Ag and 1.585g/t Au for a Silver-Equivalent of 1,076.4 g/t. This sector was not included in the previously released Inferred Resource Estimate (13 March 2007).
La Preciosa Norte Sector
BP06-78
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From To True Au Ag Ag-Eq
Vein (metres) (metres) Length Width (g/t) (g/t) (g/t)
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Abundancia 374.40 381.52 7.12 6.45 1.101 640.6 706.7
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Includes 374.40 378.73 4.33 3.92 1.585 981.3 1,076.4
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Includes 375.81 378.13 2.32 2.10 1.530 1,242.2 1,334.0
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Hole BP06-78 was drilled in La Preciosa Norte sector, 200 m east of hole BP05-14, azimuth 070 degrees, dip -45 degrees, on mine-section 15,700 N.
2) Orko Silver Discovers Major New Vein Approaching 10 metres True Width
Mina La Preciosa Sector
The Company is also pleased to report that multiple new veins at depth have been intersected in BP06-77, including one, now named the Martha Vein, with a major thickness of 9.97 metres true width grading gold 0.339 g/t and silver 249.5 g/t for a silver-equivalent of 269.8 g/t. This discovery will alter future drill hole planning for deeper holes.
BP06-77
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From To True Au Ag Ag-Eq
Vein (metres) (metres) Length Width (g/t) (g/t) (g/t)
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Abundancia 116.44 120.51 4.07 3.69 0.152 146.8 155.9
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Includes 116.77 119.83 3.06 2.77 0.138 170.6 178.9
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Unnamed 380.66 380.86 0.20 0.19 0.657 1,620.0 1,659.4
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Unnamed 401.74 405.47 3.73 3.51 0.361 130.6 152.3
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Includes 401.74 404.45 2.71 2.56 0.428 157.1 182.8
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Marthita 426.79 429.58 2.79 2.62 0.360 325.8 347.4
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Includes 427.04 427.34 0.30 0.28 0.660 1,980.0 2,019.6
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Martha 434.89 445.50 10.61 9.97 0.339 249.5 269.8
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Includes 438.52 445.50 6.98 6.56 0.390 296.4 319.8
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Includes 442.65 445.50 2.85 2.68 0.415 490.0 514.9
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Hole BP06-77 was drilled from the northern side of La Preciosa Ridge, azimuth 090 degrees, dip -45 degrees, on mine-section 15,400 N.
Gary Cope, President of Orko, adds, "The increasing grade and thickness of the intercept in the Abundancia Vein and the discovery of a major new vein with a true width approaching 10 meters coupled with substantial grade represent major steps forward at La Preciosa for Orko Silver. These new results were not included in our recently released 43-101 compliant Inferred Resource Estimate which only included results up to hole 76. Given that we are currently drilling holes 105 and 106, we anticipate adding the results of at least 30 additional holes in our next resource estimate. These new developments only serve to increase our confidence level that our minimum goal at La Preciosa will be achieved."
Current Inferred Resource Estimate (March 13, 2007)
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Contained Contained
Cut-off Ag Au Ag-Eq Ag-Eq Ag-Eq
Grade Tonnes (g/t) (g/t) (g/t) grams ounces
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100 g/t 5.72 million 192.9 0.345 213.3 1,223 million 39.3 million
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150 g/t 4.39 million 229.9 0.396 253.7 1,114 million 35.8 million
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BP06-76
The Company also wishes to report on further results from a previously released hole. The top half of BP06-76 was previously announced on March 5th, 2007 and the lower Luz Elena Vein intercept is announced below.
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From To True Au Ag Ag-Eq
Vein (metres) (metres) Length Width (g/t) (g/t) (g/t)
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Unnamed(i) 129.44 129.65 0.21 0.21 0.654 450.0 489.2
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Abundancia(i) 155.25 161.34 6.09 6.00 0.455 217.5 244.8
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Includes(i) 155.25 159.61 4.36 4.29 0.526 258.8 290.4
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Includes(i) 155.25 156.21 0.96 0.94 1.665 386.3 486.2
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Luz Elena 315.77 317.43 1.66 1.58 0.706 236.2 278.5
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(i) Previously released
Hole BP06-76 was drilled from the west side of La Preciosa Ridge, azimuth 090 degrees, dip -45 degrees, on mine-section 15,000 N.
A detailed drill plan map is available at the link below:
https://www.orkosilver.com/i/pdf/drillplanmap.pdf
A complete table of drill results is available at the link below:
https://www.orkosilver.com/i/pdf/drillresults.pdf
Ben Whiting, P.Geo., is the Qualified Person and takes responsibility for the technical disclosure in this news release. Full details of the Company's sampling protocols and QA/QC program can be located at our website at www.orkosilver.com. 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%.
About Orko Silver Corp.
Orko Silver Corp. is an aggressive exploration company with an increasing silver resource. Orko Silver's principal project, La Preciosa, located near the city of Durango, Mexico, is an advanced silver and gold project. The Company is currently drilling at La Preciosa using 2 rigs working 24 hours a day, 7 days a week. The deposit remains open in all directions and to depth. Two additional projects include the Santa Monica east of La Preciosa and the San Juan west of La Preciosa. All are undergoing exploration.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President
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 https://www.sec.gov/edgar.shtml.
The TSX Venture Exchange has not reviewed and does not accept responsibility for this News Release.
Contacts
(604) 684-4691
Orko Silver Corp.
(604) 684-4601 (FAX)
Email:
info@orkosilver.com
Website:
www.orkosilver.com