Orko Silver Corporation

Published : June 22nd, 2009

Pan American Silver and Orko Silver Begin Comprehensive Drilling and Development Program at La Preci

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PAN AMERICAN SILVER and ORKO SILVER BEGIN COMPREHENSIVE DRILLING AND DEVELOPMENT PROGRAM AT "LA PRECIOSA"

 

Vancouver, British Columbia - June 22, 2009 - Pan American Silver Corp. ("Pan American") (PAAS: NASDAQ; PAA: TSX) and Orko Silver Corp.  ("Orko") (OK: TSX.V) are pleased to announce that this week they commenced  a comprehensive exploration and delineation drilling program at the La Preciosa silver project in Mexico.

The Companies expect to complete approximately 30,000 meters of drilling on the property between now and the end of December of this year.  The initial delineation drilling is specifically designed to upgrade Martha Vein inferred resources to measured and indicated status, while the exploration drilling will focus on several untested prominent vein structures within the joint venture property, that had been previously discovered by Orko.

Pan American, operator of the La Preciosa joint venture, plans to spend a total of US $5.7 million in 2009, to complete the drill programs, as well as to initiate other project development related activities, including advanced metallurgical testing.

Drilling activities will be carried out by Major Drilling S.A. de CV of Hermosillo.  The first rig is now drilling and a second rig is scheduled to commence drilling in the next 10 days.  Assay testing will be performed by SGS Mineral Services in Durango, Mexico. 

Gary Cope, President and CEO of Orko said, "We are extremely pleased to resume drilling at La Preciosa.  Pan American and Orko have jointly developed a program to further delineate the Martha vein while testing for down dip and along strike extensions.  But, perhaps more exciting is that we also will begin drill testing several other vein targets that we know exist on the property and we look forward to regularly disclosing drill results, over the balance of the year."

Geoff Burns, President and CEO of Pan American added, "We have assembled a project development team and put together an aggressive drilling program for La Preciosa for 2009.  We are set up, we are in the field working and I am extremely optimistic about the potential for a meaningful expansion of the resource base." 

On April 14th, 2009 Pan American and Orko jointly announced an agreement to create a joint venture to develop the La Preciosa silver project in Mexico.  The La Preciosa and adjacent mineral concessions of Santa Monica and San Juan cover 32,422 hectares of contiguous mining claims.  Orko had previously defined an indicated resource estimated at 10,637,000 tonnes grading 185 grams of silver per tonne and 0.27 grams of gold per tonne for a total of approximately 63,000,000 ounces of silver and 94,000 ounces of gold.  In addition, the property hosts an inferred resource estimated to comprise 12,087,000 tonnes, grading 185 grams of silver per tonne and 0.25 grams of gold per tonne, for a total of approximately 71,700,000 ounces of silver and 97,000 ounces of gold.

The Joint Venture partners have agreed to delay the completion of a Preliminary Economic Assessment until the 2009 drilling and metallurgical test program has been completed.  This will allow them to accumulate more extensive resource and metallurgical detailed data that will form the basis of the comprehensive Preliminary Economic Assessment.

 

George Cavey, P.Geo., Orko's Vice-President, Exploration, is the Qualified Person who takes responsibility for the technical disclosure in this news release.

 


About Pan American Silver

Pan American Silver's mission is to be the world's largest and lowest cost primary silver mining company, and to achieve this by increasing its low cost silver production and its silver reserves.  The Company has eight operating silver mines in Mexico, Peru, Argentina and Bolivia.

About Orko Silver

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.

 

Information Contacts

Pan American Silver Corp.

Kettina Cordero

Coordinator, Investor Relations

(604) 684-1175

info@panamericansilver.com

www.panamericansilver.com

Orko Silver Corp.

Gary Cope

President

(604) 684-4691

info@orkosilver.com

www.orkosilver.com

 

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This NEWS RELEASE contains "forward-looking STATEMENTS" within the meaning of the UNITED STATES Private Securities Litigation reform act of 1995 and "fORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements.  When used in this news release, the words "anticipate", "believe", "estimate", "expect", "intend", "target", "plan", "forecast", "strategies", "goals", "objectives", "budget", "may", "schedule" and other similar words and expressions, identify forward-looking statements or information. SUCH FORWARD-LOOKING STATEMENTS AND INFORMATION INCLUDE, BUT ARE NOT LIMITED TO, STATEMENTS AS TO: THE TERMS AND CONDITIONS OF THE JOINT VENTURE, WHICH MAY BE AMENDED BY FUTURE NEGOTIATIONS BETWEEN PAN AMERICAN AND ORKO; STATEMENTS AS TO PAN AMERICAN'S FUTURE EXPENDITURES AND ACTIVITIES FOR THE BENEFIT OF THE JOINT VENTURE, WHICH ARE CONDITIONAL TO PAN AMERICAN MAINTAINING ITS INTEREST IN THE JOINT VENTURE; LA PRECIOSA ACHIEVING FUTURE PRODUCTION; VALUE CREATION AND GROWTH FOR PAN AMERICAN'S AND ORKO'S SHAREHOLDERS; DEFINITION OF A LARGER MINERAL RESOURCE AT LA PRECIOSA; AND TSX VENTURE EXCHANGE ACCEPTANCE OF THE PRIVATE PLACEMENT.  Pan american and orko do not intend, and do not assume any obligation to, update such forward-looking statements or information, other than as required by applicable law.

forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Pan American, orko or their respective operations to be materially different from those expressed or implied by such statements.  Such factors in relation to pan american include, among others:  fluctuations in the spot and forward price of silver, gold, base metals or certain other commodities (such as natural gas, fuel oil and electricity); fluctuations in the currency markets (such as the Peruvian sol and Mexican peso versus the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru, Mexico, Argentina, Bolivia, the United States or other countries in which pan american may carry on business in the future; operating or technical difficulties in connection with mining or development activities; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of mineral reserves as properties are mined; business opportunities that may be presented to, or pursued by pan american; pan american's ability to successfully integrate acquisitions; and challenges to pan american's title to properties; as well as those factors described in the section "risk related to Pan American's business" contained in PaN AMERICAN'S most recent form 40f/annual information form filed with the sec and canadian provincial securities regulatory authorities.  Although pan american and orko have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.  There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information.  Accordingly, readers should not place undue reliance on forward-looking statements or information.

 

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Orko Silver Corporation

DEVELOPMENT STAGE
CODE : OK.V
CUSIP : 685930
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Orko Silver is a silver development stage company based in Canada.

Orko Silver develops silver and gold in Mexico, and holds various exploration projects in Mexico.

Its main asset in development is LA PRECIOSA in Mexico and its main exploration properties are SAN JUAN and SANTA MONICA in Mexico.

Orko Silver is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.8 millions as of today (US$ 1.4 millions, € 1.2 millions).

Its stock quote reached its highest recent level on July 22, 2011 at CA$ 3.25, and its lowest recent point on February 08, 2019 at CA$ 0.02.

Orko Silver has 73 760 000 shares outstanding.

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Corporate Presentations of Orko Silver Corporation
9/9/2008MARTHA THINNING OUT TO SOUTH… BUT THEN?
4/18/2008Research notes
1/16/2008La Preciosa Thins to the North and Continues to the Southeas...
11/20/2007Drilling Hits Best Hole to Date on La Preciosa
10/9/200773.1 MILLION OUNCES SILVER EQUIVALENT RESOURCE IN DURANGO ST...
8/9/2007Martha Tips the Silver Balance at Preciosa
4/2/2007Orko takes nino steps in Mexico
10/13/2006Keeps drills turning at La Preciosa
5/19/2006New recommandation
5/1/2006Article of ICMJ Mining Journal
In the News and Medias of Orko Silver Corporation
6/27/2011Announces Update on Postal Strike and AGM
2/27/2008Follow up N° 7
1/15/2008 Expands the Martha Vein to the Southeast at La Preciosa
Annual reports of Orko Silver Corporation
2009 Annual Report
2007 Annual Report
Project news of Orko Silver Corporation
4/16/2013Coeur Completes Acquisition of Orko Silver Corp.
2/16/2012(La Preciosa)Provides an Update of Activities at La Preciosa
2/9/2011(La Preciosa)has Retained the Services of AMEC for a Review of La Precios...
4/29/2010(La Preciosa)More drill results at La Preciosa
6/22/2009(La Preciosa)Pan American Silver and Orko Silver Begin Comprehensive Dril...
2/18/2009(La Preciosa)Increases and Upgrades La Preciosa Resource Estimate
7/22/2008(La Preciosa)Reports Multiple Hits into Martha Vein at La Preciosa
2/28/2008Drilling Hits Best Martha to Date and a New High-Grade Vein ...
11/19/2007(La Preciosa)Hits 16.55 metres grading 377.7 g/t silver-equivalent on Mar...
10/10/2007(La Preciosa) Adds Fourth Drill Rig
10/1/2007(La Preciosa)Increases Resource Estimate by 86% to 73.1 Million Ounces Si...
9/19/2007(La Preciosa)Continues to Hit Wide High Grade Intercepts at La Preciosa
9/19/2007(La Preciosa)Reports High Grade Assay Results from Transversal Vein
6/5/2007(La Preciosa)Continues to Hit Major Silver-Gold Intercepts at La Preciosa
5/30/2007(La Preciosa) Intercepts 19.05 metres of 239.6 g/t Silver-Equivalent
5/9/2007(La Preciosa)Hits Major Intercept in Martha Vein at La Preciosa
4/18/2007(La Preciosa)Delivers More Positive Drilling Results from La Preciosa
2/21/2007(La Preciosa)Santa Monica Project Yields Excellent Gold and Silver Values...
Corporate news of Orko Silver Corporation
4/10/2013Shareholders Approve Arrangement with Coeur
3/18/2013Mails Meeting Materials
2/20/2013Announces Agreement With Coeur D'Alene
2/13/2013Announces Superior Proposal
11/8/2012(La Preciosa)Announces Filing of NI 43-101 Technical Report for its La Pr...
10/10/2012& Commonwealth Silver | Today, October 10th, 2012
10/4/2012Up close and personal with Orko Silver | Wednesday October 1...
9/20/2012=?windows-1252?Q?Orko_Announces_a_Significant_Upgraded_Resou...
9/12/2012(La Preciosa)Commences Exploration in the Esmeralda Targets Area of La Pr...
5/23/2012REMINDER: Timmins Gold and Orko Silver | Investors Forum May...
5/15/201210 days left until our next event in Vancouver: Timmins Gold...
5/15/2012Quest Rare Minerals, Orko Silver and REBgold Corp | Investor...
5/10/2012Timmins Gold and Orko Silver Investors Forum, May 24th 2012
5/7/2012Quest Rare Minerals, Orko Silver and REBgold Corp Investors...
5/2/2012Releases the Results of a New Engineering Study
8/11/2011(La Preciosa)Pan American Silver and Orko Silver Release Positive Prelimi...
8/11/2011(La Preciosa)Commentary on recently released La Preciosa Preliminary Econ...
6/1/2011President's Update
1/7/2009Provides 2008 Year End Summary
12/2/2008Drills 3.99 metres of 1 Kilogram per ton Silver Equivalent
11/26/2008Delays Resource Estimate until January 2009
6/5/2008Exhibit at World Resource Investment Conference 2008 in Vanc...
3/31/2008 Increases Resource Estimate by 41% to 103.2 Million Ounces ...
2/27/2008 Hits Massive Intercept on Martha Vein
2/1/2008Provides Video Update
10/5/2007Research Capital Updates Coverage on Orko Silver
7/19/2007C ontinues to Hit Martha Vein; Adds Third Drill Rig to Proje...
3/27/2007Announces Two Major Developments at La Preciosa
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TSX-V (OK.V)FRANKFURT (OG3.F)
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