Orko Thinks Martha Vein Intercept a Good Thing

Vancouver — Recent drill results from Orko Silver’s (OK-V, OKOFF-O) La Preciosa project in Durango state, Mexico, which cut a number of mineralized intercepts, have the company optimistic about boosting the silver resource.

Hole BP07-102 intersected five mineralized vein structures with the deepest, the Martha vein, turning in an impressive 13.79-metre true-width intercept (from 442 metres depth) grading 376.5 grams silver per tonne and 0.32 gram gold. Within that, an 8-metre section ran 567.8 grams silver, including an even higher-grade 3-metre portion at 1,374 grams silver.

“The recent discovery of the Martha vein, given its initial widths and grades, could potentially change the entire dynamic of the project,” said Orko Silver president Gary Cope.

Higher in the same hole, the Abundancia vein was intercepted at 151.5 metres, delivering a 26.8-metre true-width intercept of 152.3 grams silver and 0.2 gram gold, including a 3.2-metre interval of 366.6 grams silver. The intercept shows an increase in vein width from earlier drilling.

Hole 102 also turned in a 6.55-metre intercept (from 221 metres) of the Chabelita vein, averaging 177.9 grams silver, including 2.4 metres of 257.7 grams silver. A 2.3-metre intersection (from 300 metres depth) of the Luz Elena vein assayed 120.6 grams silver, and a narrow, 0.8-metre interval of an unnamed vein encountered at 391.6 metres depth returned 3,761.7 grams silver.

“These results increase our confidence that we will exceed expectations at La Preciosa,” added Cope. “Hole 102 encompasses the best assay results to date at La Preciosa.”

Additional holes encountered mineralized sections of the Abundancia, Luz Elena and Martha veins.

The company points out that mineralization in the Martha vein was not included in its recent La Preciosa resource estimate that tabled 4.39 million inferred tonnes grading 229.9 grams silver and 0.4 gram gold (about 32.5 million contained ounces silver) using a cutoff grade of 150 grams silver equivalent.

Silver-gold mineralization at La Preciosa is hosted in typical epithermal vein structures within the Sierra Madre Occidental belt.

Orko shares jumped as much as 28% before closing up 10%, or 9 higher, at 95 apiece on trading volume of over 2 million shares.