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| May 17, 2005 Orko Gold Confirms High Grade Silver In Shallow Drill Core at La Preciosa, Mexico; Additional Drill Results Expected | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vancouver, BC, Orko Gold Corp., ("Orko" or the "Company"), (TSXV-OK), is pleased to announce that it has received assay results from first hole of a 13 hole, 5000m diamond drill program on its La Preciosa property currently under option from Goldcorp in Durango, Mexico. This first hole confirms previously reported high grade silver mineralization as intersected by Luismin S.A. de C.V. Drilling is ongoing to test for anticipated increasing mineralization at depth. Additional results from completed holes are expected shortly. The first hole was designed to test areas of the La Preciosa system previously outlined by Luismin. The first hole intercepted the three vein targets where expected. As a shallow hole, the first hole was designed to confirm the Luismin drill results (see March 21, 2005 news release for Luismin results). Subsequent holes are designed to test for deeper, wider, higher grade vein deposition at or below where company geologists believe the known high grade veins converge. The following table summarizes the results from the 365m hole BP-05-01: BP05-01
The overall drill program is designed to test the La Preciosa low-sulphidation silver vein system at depth and along strike to the north where it disappears under recent volcanic cover. Known strike length from the current Orko drill program is now 200m and is anticipated to increase as drilling progresses. The vein system consists of a central, near-vertical vein (the "La Gloria" vein), with two 450 dipping veins (the "Abundancia" vein and the "Luz Elena" vein) that converge with the La Gloria vein at depth. The Gloria and Abundancia veins consist of quartz veins, druzy quartz, and brecciated quartz in an altered, silicified volcanic unit with associated galena and argentite and occasional sphalerite. The Luz Elena consists of a small manganese altered quartz vein hosted at the contact between meta-sediments and meta-volcanics and although it is not a wide vein its detection is important in locating the structure, which elsewhere has yielded appreciable grades and thickening. Gary Cope, President of Orko Gold, says: "We are very pleased with the program and results so far at La Preciosa. Our model is that the intersections will get wider and that the grades will improve with depth. Our work to date is proving this to be true. This program will test extensions of the veins to the north and at greater depths. All drill holes so far have intercepted the veins as anticipated." George Cavey P.Geo., company director, is a Qualified Person and takes responsibility for the technical disclosure in this news release. ON BEHALF OF THE BOARD OF DIRECTORS Gary Cope, President For further information, please contact investor relations at (604) 689-7422 or the Company at (604) 684-4691 or via email at [email protected]. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
You can view the Next News Releases item: Fri May 20, 2005, ORKO announces $1,000,000 non brokered private placement and withdrawal of Brokered Private Placement with Haywood Securities You can view the Previous News Releases item: Mon Mar 21, 2005, Orko commences drilling on La Preciosa Mineral Project, Durango State, Mexico You can return to the main News Releases page, or press the Back button on your browser. |
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