VANCOUVER, British Columbia - Orko Silver Corp. (TSX.V - OK) is pleased to announce that it has received further assay results from its on-going diamond drilling program at La Preciosa Project in Durango, Mexico.
Of particular note is a thick, high-grade intercept for the Martha Vein in hole BP08-270. This hole is located 400 metres further southeast than any previously reported holes. Hole BP08-270 yielded a true thickness of 11.03 metres grading 0.716 g/t gold and 302.0 g/t silver for a silver-equivalent of 345.0 g/t, plus lead 1.80 % and zinc 0.68 %.
Gary Cope, President of Orko, adds, "The Company has reduced the number of drill rigs on La Preciosa from 4 to 2. This measure was taken in order to conserve cash until there is visibility in the global capital markets. The Company remains well funded and as such our management team has evaluated multiple scenarios going forward and will act accordingly to protect the interests of shareholders. The decision to temporarily scale back drilling was taken as a response to the global financial crisis and is not a reflection of a change in the Company's belief in La Preciosa project and the strength of the Martha Vein as clearly demonstrated by hole BP08-270."
Exploration at La Preciosa is proceeding at a high level as diamond drilling continues to intercept the Martha vein in a grid pattern to the southeast and down dip. The drilling has passed hole number BP08-340. There are approximately 80 holes being logged, sampled, at the assay labs, or being interpreted, which will provide a steady stream of news on the expanding deposit.
The Resource Estimate being conducted by Mine Development Associates, an independent consulting firm, is expected in November.
Key Martha Vein intercepts added for this release:
A few of the holes were drilled along the periphery of the main mineralized trend in Martha and do not make either the thickness, or the cut-off grade, requirements for the Martha vein. These include BP08-200, BP08-202, BP08-221, BP08-230 and BP08-231.
A complete table of drill results is available on our website at the link below:
Ben Whiting, P.Geo., is the Qualified Person and takes responsibility for the technical disclosure in this news release. Full details of the Company's sampling protocols and QA/QC program can be located at our website at the link below:
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% for the silver-equivalent value. Base metal values are not included in the silver-equivalent.
About Orko Silver Corp.
Orko Silver Corp. is a professional 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, 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.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 684-4691 or
Via email at or visit 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. 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 SEC's website at http://www.sec.gov/edgar.shtml.