Orko Silver Corp. (TSX VENTURE: OK) is pleased to announce that
excellent progress is being made in the technical studies to
advance the "La Preciosa" Project in Durango, Mexico. The project
also continues to yield favourable results from the ongoing diamond
drilling program being completed by our joint venture partner, Pan
American Silver Corp. (TSX - PAA).
Pan American Silver is examining various scenarios for the
economic evaluation of La Preciosa, including coordinating the work
of external engineering studies. These studies have been completed,
or are soon to be completed, and are being incorporated into the
overall project 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.
Gary Cope, President of Orko, states; "The additional excellent
drilling results and engineering studies will lead to a Preliminary
Economic Assessment (PEA), to be released by Pan American Silver,
which is expected to be ready for the end of the year, or early
first quarter 2011. The project is on schedule."
In the Resource area, more high-grade values have been
intercepted, such as hole BP10-539, which yielded a true thickness
of 7.71 metres in the Gloria vein grading Au 0.646 g/t and Ag 648.0
g/t for a silver-equivalent of 686.8 g/t. This included 3.59 metres
grading Au 0.894 g/t and Ag 986.7 g/t for a silver-equivalent of
1,040.3 g/t.
Highlights of Recent Resource Diamond Drilling on La
Preciosa
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Au Ag Ag-Eq
Hole/Vein From To Core Length True Width (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BP10-539
---------------------------------------------------------------------------
Abundancia 268.55 271.10 2.55 2.51 0.327 166.6 186.2
---------------------------------------------------------------------------
Includes 269.70 270.20 0.50 0.49 0.529 288.0 319.7
---------------------------------------------------------------------------
BP10-546
---------------------------------------------------------------------------
Abundancia 150.50 160.35 9.85 9.70 0.184 173.9 184.9
---------------------------------------------------------------------------
Includes 151.60 157.75 6.15 6.06 0.235 232.4 246.5
---------------------------------------------------------------------------
Includes 157.35 157.75 0.40 0.39 0.477 1,041.0 1,069.6
---------------------------------------------------------------------------
BP10-551
---------------------------------------------------------------------------
Abundancia 130.65 136.50 5.85 5.49 0.094 294.1 299.8
---------------------------------------------------------------------------
Includes 130.65 131.50 0.85 0.80 0.146 906.0 914.8
---------------------------------------------------------------------------
BP10-539
---------------------------------------------------------------------------
Gloria 177.75 186.65 8.90 7.71 0.646 648.0 686.8
---------------------------------------------------------------------------
Includes 179.95 184.10 4.15 3.59 0.894 986.7 1,040.3
---------------------------------------------------------------------------
Includes 181.95 182.70 0.75 0.65 1.086 1,345.0 1,410.2
---------------------------------------------------------------------------
BP10-546
---------------------------------------------------------------------------
Martha 308.90 316.05 7.15 7.12 0.584 101.8 136.8
---------------------------------------------------------------------------
Includes 309.75 313.10 3.35 3.34 0.769 141.8 188.0
---------------------------------------------------------------------------
Includes 312.20 313.10 0.90 0.90 0.992 320.0 375.3
---------------------------------------------------------------------------
BP10-551
---------------------------------------------------------------------------
Martha 316.65 325.65 9.00 8.97 0.198 159.7 171.6
---------------------------------------------------------------------------
Includes 319.40 325.65 6.25 6.23 0.263 200.1 215.9
---------------------------------------------------------------------------
Includes 323.25 324.65 1.40 1.39 0.479 374.0 402.7
---------------------------------------------------------------------------
BP10-566
---------------------------------------------------------------------------
Unnamed 236.65 239.70 3.05 2.87 0.321 191.0 210.3
---------------------------------------------------------------------------
Martha 276.50 285.95 9.45 8.88 0.493 393.7 423.3
---------------------------------------------------------------------------
Includes 277.10 283.35 6.25 5.87 0.632 562.8 600.7
---------------------------------------------------------------------------
Includes 278.10 279.25 1.15 1.08 1.270 1,714.0 1,790.2
---------------------------------------------------------------------------
BP10-577
---------------------------------------------------------------------------
Martha 270.70 275.30 4.60 4.53 2.183 315.4 446.4
---------------------------------------------------------------------------
Includes 271.85 273.45 1.60 1.58 5.656 683.1 1,022.4
---------------------------------------------------------------------------
Includes 272.90 273.45 0.55 0.54 10.760 1,340.0 1,985.6
---------------------------------------------------------------------------
BP10-578
---------------------------------------------------------------------------
Martha 107.00 110.30 3.30 3.29 0.163 660.0 669.8
---------------------------------------------------------------------------
Includes 107.00 108.95 1.95 1.94 0.248 1,061.2 1,076.1
---------------------------------------------------------------------------
Includes 108.40 108.95 0.55 0.55 0.292 3,201.0 3,218.5
---------------------------------------------------------------------------
BP10-605
---------------------------------------------------------------------------
Martha 296.45 303.00 6.55 6.45 0.708 217.4 259.9
---------------------------------------------------------------------------
Includes 297.10 300.00 2.90 2.86 0.925 390.1 445.6
---------------------------------------------------------------------------
Includes 297.10 298.00 0.90 0.90 1.151 633.0 702.1
---------------------------------------------------------------------------
BP10-596
---------------------------------------------------------------------------
Transversal 205.70 208.40 2.70 2.66 0.196 232.7 244.5
---------------------------------------------------------------------------
Includes 206.60 208.40 1.80 1.77 0.219 319.4 332.5
---------------------------------------------------------------------------
Includes 207.15 207.80 0.65 0.64 0.485 564.0 593.1
---------------------------------------------------------------------------
BP10-600
---------------------------------------------------------------------------
Transversal 138.75 145.00 6.25 6.04 0.208 125.5 138.0
---------------------------------------------------------------------------
Includes 141.60 145.00 3.40 3.28 0.225 166.6 181.9
---------------------------------------------------------------------------
Includes 144.55 145.00 0.45 0.43 0.075 348.0 352.5
---------------------------------------------------------------------------
---------------------------------------------------------------------------
In exploration diamond drilling beyond the main resource area,
11 drill holes have been completed in the El Orito Norte sector and
12 holes have been completed in the Nancy sector. Current
exploration drilling is being conducted along a trend 8 km
northwest of the resource area.
In El 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 and Ag 396.3 g/t for a silver-equivalent of 408.9 g/t. On
the north margin of the Nancy drilling, hole BP10-595 yielded a
true thickness of 2.41 metres grading Au 1.123 g/t and Ag 157.1 g/t
for a silver-equivalent of 224.5 g/t. More exploration testing is
planned.
Highlights of Recent Exploration Diamond Drilling on La Preciosa
- El Orito and Nancy
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Au Ag Ag-Eq
Hole/Vein From To Core Length True Width (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BP10-576
---------------------------------------------------------------------------
El Orito 359.60 361.90 2.30 2.30 0.023 141.5 142.9
---------------------------------------------------------------------------
Includes 360.70 361.90 1.20 1.20 0.040 204.1 206.5
---------------------------------------------------------------------------
Includes 360.70 361.45 0.75 0.75 0.044 221.0 223.6
---------------------------------------------------------------------------
BP10-584
---------------------------------------------------------------------------
El Orito (Sup) 321.10 327.05 5.95 5.93 0.009 90.0 90.6
---------------------------------------------------------------------------
Includes 322.65 324.65 2.00 1.99 0.011 141.3 141.9
---------------------------------------------------------------------------
Includes 323.40 324.65 1.25 1.25 0.014 167.0 167.8
---------------------------------------------------------------------------
El Orito (Inf) 331.00 334.75 3.75 3.74 0.035 87.5 89.5
---------------------------------------------------------------------------
Includes 331.00 332.50 1.50 1.49 0.054 140.4 143.7
---------------------------------------------------------------------------
Includes 331.50 332.50 1.00 1.00 0.073 164.0 168.4
---------------------------------------------------------------------------
BP10-598
---------------------------------------------------------------------------
El Orito 327.45 329.95 2.50 2.49 0.209 396.3 408.9
---------------------------------------------------------------------------
Includes 328.65 329.95 1.30 1.30 0.265 591.5 607.4
---------------------------------------------------------------------------
Includes 328.65 329.15 0.50 0.50 0.534 906.0 938.0
---------------------------------------------------------------------------
BP10-603
---------------------------------------------------------------------------
El Orito 245.70 246.20 0.50 0.50 0.136 291.0 299.2
---------------------------------------------------------------------------
BP10-607
---------------------------------------------------------------------------
El Orito 133.60 134.10 0.50 0.50 0.589 91.2 126.5
---------------------------------------------------------------------------
BP10-592
---------------------------------------------------------------------------
Nancy 64.55 67.50 2.95 2.91 0.160 132.0 141.6
---------------------------------------------------------------------------
Includes 64.55 66.90 2.35 2.31 0.134 142.4 150.4
---------------------------------------------------------------------------
Includes 66.55 66.90 0.35 0.34 0.339 319.0 339.3
---------------------------------------------------------------------------
BP10-595
---------------------------------------------------------------------------
Nancy 89.00 91.50 2.50 2.41 1.123 157.1 224.5
---------------------------------------------------------------------------
Includes 90.50 91.50 1.00 0.97 2.387 250.0 393.2
---------------------------------------------------------------------------
BP10-601
---------------------------------------------------------------------------
Nancy 104.00 106.05 2.05 2.04 0.634 48.7 86.7
---------------------------------------------------------------------------
Includes 104.00 104.80 0.80 0.80 1.460 104.0 191.6
---------------------------------------------------------------------------
---------------------------------------------------------------------------
As of the end of August, Pan American has completed over 76,000
metres of diamond drilling on La Preciosa in 2009-2010. Combined
with Orko's 2005-2008 drilling of 154,000 metres, the project has
now passed the 230,000 metre mark.
Results from Pan American's Phase-I, Phase-II and part of
Phase-III were reported in news releases dated September 08 and
October 21, 2009, plus April 29 and July 7, 2010. The information
here is in addition to these earlier news releases. It covers
17,142 metres of diamond drilling in 71 holes (BP10-538 to
BP10-608), the data for which has been received from Pan American
Silver. Exploration holes represent 23 of the 71 holes. Diamond
drilling is still underway.
The delineation drilling results from the new holes are mainly
located in the known Martha vein structure and were drilled at
approximately 18 metre and 50 metre spacing in an area previously
drilled by Orko at 100 metre spacing. This data again confirms
Orko's previously reported results, and forms the basis of a
geostatistical study, toward ultimate reserve definition.
A complete table of drill results is available on our website at
the link below:
http://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:
http://www.orkosilver.com/i/pdf/drillplanmap.pdf
A printer friendly PDF format of this news release is available
at the link below:
http://www.orkosilver.com/i/pdf/OrkoPR2010-04-28.pdf
Ben Whiting, P.Geo., is the Qualified Person for Orko Silver
Corp. and takes 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. This 60:1 ratio
was determined from the ten-year averages of gold and silver prices
from the London Metal Exchange. 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 developing one of the world's largest
primary silver deposits, La Preciosa, located near the city of
Durango, in the State of Durango, Mexico.
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.
(i) 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for this News Release.
Contacts: Orko Silver Corp. (604) 687-6310 (604) 687-6365 (FAX)
info@orkosilver.com www.orkosilver.com
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