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| October 18, 2010 Engineering Studies Advance on La Preciosa Silver Project: Additional High-Grade Intercepts Include 3.59 Metres Grading 1,040 g/t Silver-Equivalent | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| VANCOUVER, British Columbia - Orko Silver Corp. (TSX.V - 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:
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
In exploration diamond drilling beyond the main resource area, 11 drill holes have been completed in the El Orito Norte sector and 12 holes have been completed in the Nancy sector. Current exploration drilling is being conducted along a trend 8 km northwest of the resource area. In El Orito Norte, a mineralized dyke was intercepted in hole BP10-598, which yielded a true thickness of 2.49 metres grading Au 0.209 g/t and Ag 396.3 g/t for a silver-equivalent of 408.9 g/t. On the north margin of the Nancy drilling, hole BP10-595 yielded a true thickness of 2.41 metres grading Au 1.123 g/t and Ag 157.1 g/t for a silver-equivalent of 224.5 g/t. More exploration testing is planned. Highlights of Recent Exploration Diamond Drilling on La Preciosa -- El Orito and Nancy
As of the end of August, Pan American has completed over 76,000 metres of diamond drilling on La Preciosa in 2009-2010. Combined with Orko's 2005-2008 drilling of 154,000 metres, the project has now passed the 230,000 metre mark. Results from Pan American's Phase-I, Phase-II and part of Phase-III were reported in news releases dated September 08 and October 21, 2009, plus April 29 and July 7, 2010. The information here is in addition to these earlier news releases. It covers 17,142 metres of diamond drilling in 71 holes (BP10-538 to BP10-608), the data for which has been received from Pan American Silver. Exploration holes represent 23 of the 71 holes. Diamond drilling is still underway. The delineation drilling results from the new holes are mainly located in the known Martha vein structure and were drilled at approximately 18 metre and 50 metre spacing in an area previously drilled by Orko at 100 metre spacing. This data again confirms Orko's previously reported results, and forms the basis of a geostatistical study, toward ultimate reserve definition. A complete table of drill results is available on our website at the link below: http://www.orkosilver.com/i/pdf/geol-postred_DDH_Orko_PAS_210410.pdf A detailed drill plan map is available on our website at the link below: http://www.orkosilver.com/i/pdf/drillplanmap.pdf A printer friendly PDF format of this news release is available at the link below: http://www.orkosilver.com/i/pdf/OrkoPR2010-04-28.pdf Ben Whiting, P.Geo., is the Qualified Person for Orko Silver Corp. and takes responsibility for the technical disclosure in this news release. Silver-equivalent for the purposes of this drilling program is defined as silver grade plus 60 times gold grade. This 60:1 ratio was determined from the ten-year averages of gold and silver prices from the London Metal Exchange. Metallurgical recoveries and net smelter returns are assumed to be 100% for the silver-equivalent value. Base metal values are not included in the silver-equivalent. About Orko Silver Corp. 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. ON BEHALF OF THE BOARD OF DIRECTORS Gary Cope President For further information, contact Orko Silver Corp. at (604) 687-6310 or Via our website on line at www.orkosilver.com 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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