Metallurgical Testing Yields 91% Average Silver Recovery
Vancouver, British Columbia -- December 16, 2009 -- Orko Silver Corp. ("Orko") (TSX.V - OK) and Pan American Silver Corp ("Pan American") (TSX -- PAA, Nasdaq -- PAAS) are pleased to announce that phase one metallurgical testing conducted on representative samples of the different veins at the La Preciosa joint venture project in Durango, Mexico have yielded excellent results.
Pan American has completed a first phase detailed metallurgical program, which included: work index tests, abrasion tests, mineralogical studies, gravity tests, floatation tests and cyanide leach tests. The program was a follow-up to the preliminary testing conducted in 2008 by Orko (Orko's news release April 17, 2008). Additional flotation studies are still underway.
Simple cyanide leaching yielded average silver recoveries of 91%, although the use of selective oxidants could further enhance these results. In addition, Pan American has been successful in reducing cyanide consumption to 1.6 kg/t, which is materially lower than the results from the metallurgical work previously completed by Orko. Lastly, the current test work has shown that with the use of oxidants, the leach cycle times can be reduced to 48 hours with minimal impact on ultimate silver recovery.
Gary Cope, president of Orko Silver Corp. stated: "This is excellent news. Confirming the straightforward leaching characteristics of the ore while reducing both cyanide consumption and leach times are clear enhancements to the La Preciosa project."
Also commenting on the metallurgical results, Geoff Burns President and CEO of Pan American Silver said: "These are very good results and better than we expected. We are fully engaged in all aspects of the project and still expect to produce a full feasibility study for La Preciosa by the end of next year."
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - Orko Silver Corp. (TSX VENTURE:OK) is pleased to announce that it continues to receive favorable results from the ongoing drilling program being completed by our joint venture partner, Pan American Silver Corp. (PAA) on the La Preciosa Project in Durango, Mexico.
Diamond drill hole BP09-375 yielded 15.65 metres grading Au 0.579 g/t and Ag 439.4 g/t for a silver-equivalent of 474.1 g/t. Included in this hole is an interval of 5.85 metres grading Au 1.146 g/t and Ag 942.0 g/t for a silver-equivalent of 1,010.7 g/t. Also of note is hole BP09-392 with 16.89 metres grading Au 0.441 g/t and Ag 225.3 g/t for a silver-equivalent of 251.8 g/t.
Gary Cope, President of Orko Silver, states; "We are extremely pleased to see that Pan American's delineation drilling results confirm those initially reported by Orko Silver. The presence of wide high grade intervals is also very encouraging for the project."
The Pan American Phase-I delineation (infill) drilling at La Preciosa consisted of 19 HQ diamond drill holes for a total of 6,316.83 meters and was reported in a news release dated September 08, 2009.
The Phase-II drilling program has commenced and includes further delineation drilling, plus drilling on the previously identified exploration targets located immediately surrounding the La Preciosa deposit. To date, PAA has drilled 40 Phase-II holes, an additional 17 delineation holes and 23 holes on the exploration targets for a total of 9,924.44 meters. Assays for 25 of the Phase-II holes are now available. Delineation drilling is in the Central Area of the La Preciosa Resource. Exploration drilling around the periphery of the Resource includes nine holes from the South Area on the Martha Vein.
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Delineation Drilling by Pan American Confirms Orko Results 32.7 Metres of 267.9 g/t Ag Eq Silver Intercepted.
February 18, 2009
The Company's Resource Estimate VI was released Feb 18, 2009 is based the results all the holes drilled to date including the 2008 drilling of an additional 205 holes (79,021m) that was completed after the date of the last resource estimate. The La Preciosa deposit now comprises 47% Indicated Resources and 53% Inferred Resources. Current Indicated Resources are 10.64 million tonnes grading 0.27 g/t Au and 185 g/t Ag for a Silver-Equivalent grade of 201 g/t. at a cut off grade of 100 g/t. The contained metal equals 63.2 million ounces of Silver and 94,000 ounces of Gold for a Silver Equivalent of 68.9 Million Ounces. Current Inferred Resources are 12.0 million tonnes grading 0.25 g/t Au and 185 g/t Ag for a Silver-Equivalent grade of 200 g/t. at a cut off grade of 100 g/t. The contained metal equals 71.8 million ounces of Silver and 97,000 ounces of Gold for a Silver Equivalent of 77.6 Million Ounces.
March 31, 2008
Drilling continued and Inferred Resource Estimate V was released on 31 March 2008. Inferred Resource Estimate V -- At 100 g/t Ag-Eq cut-off the estimate is 15.35 million tonnes grading 190.0 g/t Ag and 0.321 g/t Au, for a silver-equivalent of 209.2 g/t. At 150 g/t Ag-Eq cut-off the estimate is 6.88 million tonnes grading 256.6 g/t Ag and 0.387 g/t Au, for a silver-equivalent of 279.8 g/t.
October 1, 2007
Drilling continued and Inferred Resource Estimate IV was released on 1 October 2007. Inferred Resource Estimate IV -- At 100 g/t Ag-Eq cut-off the estimate is 10.36 million tonnes grading 199.7 g/t Ag and 0.328 g/t Au, for a silver-equivalent of 219.4 g/t. At 150 g/t Ag-Eq cut-off the estimate is 6.88 million tonnes grading 256.6 g/t Ag and 0.387 g/t Au, for a silver-equivalent of 279.8 g/t.
March 13, 2007
Drilling continued and Inferred Resource Estimate III was released on 13 March 2007. Inferred Resource Estimate III -- At 100 g/t Ag-Eq cut-off the estimate is 5.72 million tonnes grading 192.9 g/t Ag and 0.345 g/t Au, for a silver-equivalent of 213.6 g/t. At 150 g/t Ag-Eq cut-off the estimate is 4.39 million tonnes grading 229.9 g/t Ag and 0.396 g/t Au, for a silver-equivalent of 253.7 g/t.
September 7, 2006
Drilling continued and Inferred Resource Estimate II was released on 7 September 2006. This estimate was up to hole BP06-38 for a total of 16,334 metres in La Preciosa Ridge area, including Abundancia, La Gloria and Abundancia Zona Sur veins. Using a cut-off grade of 100 g/t silver-equivalent, Inferred Resource Estimate II totalled 4.05 million tonnes grading 207.4 g/t Ag and 0.384 g/t Au for a silver-equivalent grade of 230.4 g/t. Alternatively, at a 150 g/t cut-off, Inferred Resource Estimate II totalled 3.42 million tonnes grading 235.0 g/t Ag and 0.435 g/t Au for a silver-equivalent grade of 261.1 g/t.
January 19, 2006
Favourable results from drilling and interpretation of distinct mineral-shoots within the Abundancia and La Gloria veins gave reason for Orko to make a first resource estimate for the property. Using a cut-off grade of 150 g/t silver-equivalent, Inferred Resource Estimate I totaled 2.72 million tonnes grading 227.2 g/t Ag and 0.462 g/t Au for a silver-equivalent grade of 255.0 g/t. Resource Estimate I was released on 19 January 2006 (Gunning and Whiting, 2006).