Orko Silver Corp.-Engineering Studies Advance on La Preciosa Silver Project: Additional High-Grade Intercepts Include 3.59 Metres Grading 1,040 g/t Silver-Equivalent
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2010) - 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
Hole/Vein
From
To
Core Length
True Width
Au (g/t)
Ag (g/t)
Ag-Eq (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