VANCOUVER, British Columbia -
Orko Silver Corp. (TSX.V - OK) ) is pleased to announce that extensive
float-boulder sampling on the Santa Monica Project in Durango State,
Mexico, has yielded excellent values in the Mesa de los Panuqueos area
in the northeast of the concession. These results, as well as observations
during mapping, have lead to the decision to conduct an IP (Induced
Polarization) geophysical survey.
Santa Monica is a joint venture
between Orko Silver Corp. and Goldcorp, Inc.
The geophysical
surveying company Peter Walcott & Associates has been contracted to
conduct the IP survey. They currently have a crew on the adjacent ground
to the east and plan to mobilize on Santa Monica following completion of
their current program.
Results from the first three batches
totalling 219 samples of rock float-boulders are available. For gold, 90
samples exceeded 100 ppb Au, 44 samples exceeded 200 ppb Au, 14 samples
exceeded 500 ppb Au and 5 samples exceeded 1,000 ppb Au. The highest value
was 2.820 g/t Au.
For silver, 64 samples exceeded 50 g/t Ag, 14
samples exceeded 100 g/t Ag, and 4 samples exceeded 200 g/t Ag. The
highest value was 530 g/t Ag.
The gold and silver results are
similar in magnitude to those collected during the surface sampling at La
Preciosa.
The results for approximately 500 more surface
float-boulders are pending, as well as follow-up soil survey results. A
second region of interest in the northwest area of the Santa Monica
concession has also been sampled.
Gary Cope, President of Orko,
adds, These initial results from Santa Monica are extremely positive and
exciting. The nearby San Sebastian Mine owned by Hecla was discovered
using the very same methods we are employing. Due to the high number of
samples which graded over 100 ppb gold and over 50 g/t silver, we are
diligently working towards beginning our geophysics program as soon as
possible.
This along with the rock and soil sampling should give us
some very prospective drill targets. Our crew that did the float sampling
on Santa Monica (Goldcorp Joint Venture) is now moving to do the same on
San Juan (Silver Standard Joint Venture). Given that La Preciosa, Santa
Monica, and San Juan are contiguous, it is becoming more apparent to us
that we have potentially discovered a very large system of multiple veins
and that exploration on a larger scale is definitely
warranted.
Highlights of Float-Boulder Analyses
The
following results are the highlights of float-boulder sampling in the
Mesa de los Panuqueos area for the first 219 samples. These are the
samples where gold exceeded 500 ppb (0.500 g/t) and silver exceeded 100
g/t.
Sample Number |
Gold (ppb) |
Silver (g/t) |
Silver-Equiv.
(g/t) |
|
|
|
|
15024 |
79 |
132.0 |
136.7 |
15027 |
500 |
57.4 |
87.4 |
15046 |
1,300 |
410.0 |
488.0 |
15049 |
112 |
118.0 |
124.7 |
15065 |
1,440 |
115.0 |
201.4 |
15091 |
290 |
480.0 |
497.4 |
15092 |
650 |
530.0 |
569.0 |
15096 |
2,820 |
133.0 |
302.2 |
15112 |
657 |
42.2 |
81.6 |
15137 |
548 |
78.2 |
111.1 |
15144 |
507 |
41.9 |
72.3 |
15149 |
281 |
176.0 |
192.9 |
15150 |
373 |
106.0 |
128.4 |
15151 |
259 |
144.0 |
159.5 |
15167 |
521 |
26.9 |
58.2 |
15181 |
107 |
113.0 |
119.4 |
15184 |
157 |
109.0 |
118.4 |
15194 |
1,230 |
203.0 |
276.8 |
15195 |
580 |
72.5 |
107.3 |
15196 |
899 |
37.6 |
91.5 |
15198 |
614 |
40.6 |
77.4 |
15202 |
23 |
108.0 |
109.4 |
15209 |
1,550 |
40.7 |
133.7 |
Ben Whiting, P.Geo., is the
Qualified Person and takes responsibility for the technical disclosure in
this news release. The samples are prepared in Durango, Mexico, by SGS
Laboratories and shipped to the SGS laboratory in Toronto, Canada, for
analyses. The Company maintains a diligent QA/QC program using prepared
standards. Silver-equivalent for the purposes of this drilling program is
defined as silver grade plus 60 times gold grade. Metallurgical recoveries
and net smelter returns are assumed to be 100%.
|
Orko Silver Corp. is an
aggressive exploration company with an increasing silver resource. Orko
Silver's principal project, La Preciosa, located near the city of Durango,
Mexico, is an advanced silver and gold project. The Company is currently
drilling at La Preciosa using 2 rigs working 24 hours a day, 7 days a
week. The deposit remains open in all directions and to depth. Two
additional projects include the Santa Monica east of La Preciosa and the
San Juan west of La Preciosa. All are undergoing
exploration. |
The TSX Venture Exchange has
not reviewed and does not accept responsibility for this News Release.
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.
*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. U.S. Investors are urged to consider closely
the disclosure in our Form 20-F, File No. 000-51923, which may be secured
from us, or from the SECs website at http://www.sec.gov/edgar.shtml
. |