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| March 21, 2005 Orko commences drilling on La Preciosa Mineral Project, Durango State, Mexico | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vancouver, BC, Orko Gold Corp., ("Orko" or the "Company"), (TSXV-OK), is pleased to announce that it has commenced a minimum 5,000 metre diamond drill program to complete 12 to 15 holes on selected targets on La Preciosa Silver/Gold project in Mexico. As previously announced, Major Drilling Group International Inc. has been engaged to complete the drill program. Mr. Ben Whiting, M.Sc., P. Geo, the Company's consulting geologist conducted an initial mapping and sampling program which outlined eight separate targets on the property. The Company also completed an IP survey to further assist in determining drilling targets, results are expected next week. La Preciosa is a classic Mexican style low-sulphidation epithermal system that can be traced over 4.5 kilometres in length with well-defined individual veins exceeding 800 metres in length. The drill targets include Mina La Preciosa, the site of the old mine which contains 2.5 kilometers of drifts and crosscuts completed in the 17th century. An exploration program initiated in the early 1980s by Luismin S.A. de C.V. ("Luismin"), resampled the underground workings and identified high grade zones over significant thickness. In addition, Luismin completed seven diamond drill holes in the area of principal workings. The following drill intercepts (drill intervals reported, not true widths) were among those encountered by Luismin:
It is estimated that Luismin spent approximately US$2,000,000 at the site. At La Preciosa, the vein trend is principally northwesterly, although there are subordinate mineralized vein systems that run in the east-west direction. These east-west veins typically have higher gold values. The veining typically averages 2.5 metres true width. Veta Abundancia trends north-south and dips in a westerly direction between 400 and 600. Mining has traced Veta Abundancia, over roughly 150 metres vertically, from the uppermost surface breakthrough, to the lowest working, approximately 70 metres beneath the 2,065 Level. Veta Gloria lies to the west of Abundancia and is almost vertical, to steep west dipping. The 17th century underground work has traced Veta Gloria, over roughly 110 metres from the uppermost surface breakthroughs, to the lowest workings, which are along the 2,065 Level. A third vein called Luz Elena in a west dipping vein that was cut in one of the drill holes (No. 7). All veins are interpreted to converge at depth with an increased width, which is the principal target of the current drill program. Typically, silver grades in the Mexican low-sulphidation epithermal systems increase with depth, work done to date has supported this model and the current drilling program will be testing for a further increase in precious metal grades at increased depths. For a schematic diagram of the vein structures, please visit our website at View Cross Section. Previously, no drifting below the 2,065 metre level has taken place, however the Company will drill below this level to try to intersect the merging of known veins. The drilling program is budgeted at approximately US$600,000. Drilling will be conducted under the supervision of Ben Whiting, M.Sc., P.Geo. Mr. Whiting is a registered geoscientist with an international consulting practice for planning and conducting projects from concept, through to underground exploration, feasibility studies and development. Mr. Whiting is also an adjunct Professor at Queen's University. His research involves resource and reserve estimation methodologies and reporting standards, feasibility studies and geological models. He serves on the Masters of Mineral Exploration Program Committee. Mr Whiting 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 the Kottmeier Resolution Group at (604) 689 7422 or via email at [email protected] 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: Tue May 17, 2005, Orko Gold Confirms High Grade Silver In Shallow Drill Core at La Preciosa, Mexico; Additional Drill Results Expected You can view the Previous News Releases item: Wed Mar 16, 2005, ORKO announces Brokered Private Placement with Haywood Securities Inc. You can return to the main News Releases page, or press the Back button on your browser. |
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