News out: Additional High-Grade Intercepts!Orko Silver Corp.-Engineering StudiesAdvance on La Preciosa Silver Project: Additional High-Grade InterceptsInclude 3.59 Metres Grading 1,040 g/t Silver-Equivalent10/18/2010 9:16:36 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Oct 18, 2010 (MARKETWIRE via COMTEX News Network) --
OrkoSilver Corp. (TSX VENTURE: OK) is pleased to announce that excellentprogress is being made in the technical studies to advance the "LaPreciosa" Project in Durango, Mexico. The project also continues toyield favourable results from the ongoing diamond drilling program beingcompleted by our joint venture partner, Pan American Silver Corp. (TSX -PAA).
Pan American Silver is examining various scenarios for theeconomic evaluation of La Preciosa, including coordinating the work ofexternal engineering studies. These studies have been completed, or aresoon to be completed, and are being incorporated into the overallproject review:
-- Golder Associates Ltd. (Canada) has been contracted to conduct
geotechnical engineering for both underground and open pit mine design;
-- M-3 Engineering (USA) has been contracted for plant and tailings design,
as well as infrastructure costing;
-- Quantitative Group Pty. Ltd. (Australia) has been contracted to conduct
geostatistical evaluation and resource modeling;
-- SGS Mineral Services (Mexico) has been contracted to conduct additional
metallurgical studies; and
-- Clifton Associates Ltd. (Canada) has been contracted for environmental
studies.
GaryCope, President of Orko, states; "The additional excellent drillingresults and engineering studies will lead to a Preliminary EconomicAssessment (PEA), to be released by Pan American Silver, which isexpected to be ready for the end of the year, or early first quarter2011. The project is on schedule."
In the Resource area, morehigh-grade values have been intercepted, such as hole BP10-539, whichyielded a true thickness of 7.71 metres in the Gloria vein grading Au0.646 g/t and Ag 648.0 g/t for a silver-equivalent of 686.8 g/t. Thisincluded 3.59 metres grading Au 0.894 g/t and Ag 986.7 g/t for asilver-equivalent of 1,040.3 g/t.
Highlights of Recent Resource Diamond Drilling on La Preciosa
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Au Ag Ag-Eq
Hole/Vein From To Core Length True Width (g/t) (g/t) (g/t)
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BP10-539
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Abundancia 268.55 271.10 2.55 2.51 0.327 166.6 186.2
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Includes 269.70 270.20 0.50 0.49 0.529 288.0 319.7
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BP10-546
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Abundancia 150.50 160.35 9.85 9.70 0.184 173.9 184.9
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Includes 151.60 157.75 6.15 6.06 0.235 232.4 246.5
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Includes 157.35 157.75 0.40 0.39 0.477 1,041.0 1,069.6
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BP10-551
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Abundancia 130.65 136.50 5.85 5.49 0.094 294.1 299.8
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Includes 130.65 131.50 0.85 0.80 0.146 906.0 914.8
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BP10-539
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Gloria 177.75 186.65 8.90 7.71 0.646 648.0 686.8
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Includes 179.95 184.10 4.15 3.59 0.894 986.7 1,040.3
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Includes 181.95 182.70 0.75 0.65 1.086 1,345.0 1,410.2
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BP10-546
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Martha 308.90 316.05 7.15 7.12 0.584 101.8 136.8
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Includes 309.75 313.10 3.35 3.34 0.769 141.8 188.0
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Includes 312.20 313.10 0.90 0.90 0.992 320.0 375.3
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BP10-551
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Martha 316.65 325.65 9.00 8.97 0.198 159.7 171.6
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Includes 319.40 325.65 6.25 6.23 0.263 200.1 215.9
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Includes 323.25 324.65 1.40 1.39 0.479 374.0 402.7
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BP10-566
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Unnamed 236.65 239.70 3.05 2.87 0.321 191.0 210.3
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Martha 276.50 285.95 9.45 8.88 0.493 393.7 423.3
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Includes 277.10 283.35 6.25 5.87 0.632 562.8 600.7
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Includes 278.10 279.25 1.15 1.08 1.270 1,714.0 1,790.2
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BP10-577
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Martha 270.70 275.30 4.60 4.53 2.183 315.4 446.4
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Includes 271.85 273.45 1.60 1.58 5.656 683.1 1,022.4
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Includes 272.90 273.45 0.55 0.54 10.760 1,340.0 1,985.6
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BP10-578
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Martha 107.00 110.30 3.30 3.29 0.163 660.0 669.8
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Includes 107.00 108.95 1.95 1.94 0.248 1,061.2 1,076.1
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Includes 108.40 108.95 0.55 0.55 0.292 3,201.0 3,218.5
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BP10-605
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Martha 296.45 303.00 6.55 6.45 0.708 217.4 259.9
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Includes 297.10 300.00 2.90 2.86 0.925 390.1 445.6
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Includes 297.10 298.00 0.90 0.90 1.151 633.0 702.1
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BP10-596
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Transversal 205.70 208.40 2.70 2.66 0.196 232.7 244.5
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Includes 206.60 208.40 1.80 1.77 0.219 319.4 332.5
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Includes 207.15 207.80 0.65 0.64 0.485 564.0 593.1
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BP10-600
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Transversal 138.75 145.00 6.25 6.04 0.208 125.5 138.0
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Includes 141.60 145.00 3.40 3.28 0.225 166.6 181.9
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Includes 144.55 145.00 0.45 0.43 0.075 348.0 352.5
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Inexploration diamond drilling beyond the main resource area, 11 drillholes have been completed in the El Orito Norte sector and 12 holes havebeen completed in the Nancy sector. Current exploration drilling isbeing conducted along a trend 8 km northwest of the resource area.
InEl Orito Norte, a mineralized dyke was intercepted in hole BP10-598,which yielded a true thickness of 2.49 metres grading Au 0.209 g/t andAg 396.3 g/t for a silver-equivalent of 408.9 g/t. On the north marginof the Nancy drilling, hole BP10-595 yielded a true thickness of 2.41metres grading Au 1.123 g/t and Ag 157.1 g/t for a silver-equivalent of224.5 g/t. More exploration testing is planned.
Highlights of Recent Exploration Diamond Drilling on La Preciosa - El Orito and Nancy
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Au Ag Ag-Eq
Hole/Vein From To Core Length True Width (g/t) (g/t) (g/t)
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BP10-576
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El Orito 359.60 361.90 2.30 2.30 0.023 141.5 142.9
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Includes 360.70 361.90 1.20 1.20 0.040 204.1 206.5
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Includes 360.70 361.45 0.75 0.75 0.044 221.0 223.6
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BP10-584
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El Orito (Sup) 321.10 327.05 5.95 5.93 0.009 90.0 90.6
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Includes 322.65 324.65 2.00 1.99 0.011 141.3 141.9
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Includes 323.40 324.65 1.25 1.25 0.014 167.0 167.8
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El Orito (Inf) 331.00 334.75 3.75 3.74 0.035 87.5 89.5
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Includes 331.00 332.50 1.50 1.49 0.054 140.4 143.7
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Includes 331.50 332.50 1.00 1.00 0.073 164.0 168.4
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BP10-598
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El Orito 327.45 329.95 2.50 2.49 0.209 396.3 408.9
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Includes 328.65 329.95 1.30 1.30 0.265 591.5 607.4
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Includes 328.65 329.15 0.50 0.50 0.534 906.0 938.0
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BP10-603
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El Orito 245.70 246.20 0.50 0.50 0.136 291.0 299.2
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BP10-607
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El Orito 133.60 134.10 0.50 0.50 0.589 91.2 126.5
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BP10-592
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Nancy 64.55 67.50 2.95 2.91 0.160 132.0 141.6
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Includes 64.55 66.90 2.35 2.31 0.134 142.4 150.4
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Includes 66.55 66.90 0.35 0.34 0.339 319.0 339.3
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BP10-595
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Nancy 89.00 91.50 2.50 2.41 1.123 157.1 224.5
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Includes 90.50 91.50 1.00 0.97 2.387 250.0 393.2
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BP10-601
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Nancy 104.00 106.05 2.05 2.04 0.634 48.7 86.7
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Includes 104.00 104.80 0.80 0.80 1.460 104.0 191.6
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Asof the end of August, Pan American has completed over 76,000 metres ofdiamond drilling on La Preciosa in 2009-2010. Combined with Orko's2005-2008 drilling of 154,000 metres, the project has now passed the230,000 metre mark.
Results from Pan American's Phase-I, Phase-IIand part of Phase-III were reported in news releases dated September 08and October 21, 2009, plus April 29 and July 7, 2010. The informationhere is in addition to these earlier news releases. It covers 17,142metres of diamond drilling in 71 holes (BP10-538 to BP10-608), the datafor which has been received from Pan American Silver. Exploration holesrepresent 23 of the 71 holes. Diamond drilling is still underway.
Thedelineation drilling results from the new holes are mainly located inthe known Martha vein structure and were drilled at approximately 18metre and 50 metre spacing in an area previously drilled by Orko at 100metre spacing. This data again confirms Orko's previously reportedresults, and forms the basis of a geostatistical study, toward ultimatereserve definition.
A complete table of drill results is available on our website at the link below:
https://www.orkosilver.com/i/pdf/geol-postred_DDH_Orko_PAS_210410.pdf
A detailed drill plan map is available on our website at the link below:
https://www.orkosilver.com/i/pdf/drillplanmap.pdf
A printer friendly PDF format of this news release is available at the link below:
https://www.orkosilver.com/i/pdf/OrkoPR2010-04-28.pdf
BenWhiting, P.Geo., is the Qualified Person for Orko Silver Corp. andtakes responsibility for the technical disclosure in this news release.
Silver-equivalentfor the purposes of this drilling program is defined as silver gradeplus 60 times gold grade. This 60:1 ratio was determined from theten-year averages of gold and silver prices from the London MetalExchange. Metallurgical recoveries and net smelter returns are assumedto be 100% for the silver-equivalent value. Base metal values are notincluded in the silver-equivalent.
About Orko Silver Corp.
OrkoSilver Corp. is developing one of the world's largest primary silverdeposits, La Preciosa, located near the city of Durango, in the State ofDurango, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope, President