OSR drilling startedOro Silver Resources Ltd.
TSX VENTURE:
OSR
Oct 06, 2010 08:15 ET
Drilling Commenced at Oro Silver's El Compas Project, Zacatecas, Mexico
VANCOUVER,BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Oro Silver ResourcesLtd. ("Oro Silver or the "Company") (TSX VENTURE:OSR) hascommenced drilling on its El Compas gold project near Zacatecas,Mexico. This phase of drilling is designed to increase the near-surface gold resource at both the El Compas and El Oritoveins. Drilling will define the shape and orientation of the high-gradegold portion of the vein zones.
The last drillcampaign returned excellent grades and widths and good continuity atboth the El Compas and El Orito vein targets. The best vein interceptsinclude the following:
- El Compas vein: 193.2 g/t gold and 1,263.9 g/t silver over 4.3 metres (true width) in hole COM43 (see press release dated November 10, 2009)
- El Orito vein: 20.0 g/t gold and 166.3 g/t silver over 5.9 metres (downhole length) in hole COM48 (seepress release dated January 15, 2010)
Refer to the appended plan map and sections at the bottom of this release.
Drillingwas initiated on the El Orito vein target. Three holes (COM 61 to 63)have been completed in the area of hole COM48. The first hole (COM61)was designed to define and extend the high-grade gold ore shoot in theEl Orito vein, and intersected a quartz vein zone from 42 to 57 metresin downhole. This zone exhibited well developed banded and bladed veintextures with disseminated black, silver sulphide and visible goldmineralization (see photos posted on web site). Holes 62 and63 are expected to extend the high grade gold zones at the El Oritovein. Core samples from the vein zones in the holes completed at ElOrito have been submitted for assaying and results are pending. Thedrill program also includes completing additional holes at the ElCompas vein target.
Upcoming plans
- Resource expansion drilling
- Completion of El Compas and El Orito geological resource model
- Updated NI 43-101 resource estimate
- Final compilation of the exploration surface results showing additional vein targets identified on the El Compas property, which remain to be drill-tested
- Scoping studies completed by an independent consultant
ON BEHALF OF THE BOARD OF DIRECTORS,
Darren Bahrey, President and & CEO