Orko thinks Martha vein intercept a good thing

Vancouver – With recent drill results from Orko Silver‘s (OK-V, OKOFF-O) La Preciosa project in Durango State, Mexico cutting a number of mineralized intercepts, the company is optimistic it can further grow the silver resource.

Hole BP07-102 intersected five mineralized vein structures with the deepest, 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 per tonne. Within that, an 8-metre section ran 567.8 grams silver including an even higher-grade 3-metre portion of 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, stated Orko Silver president, Gary Cope.

Higher in the same hole, the Abundancia vein was cored from 151.5 to 179.3 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 versus 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 oz. silver) using a cut-off 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.

Following a halt for release of the May 10th drill results, shares of Orko jumped as much as 28% before closing the day up 9, about 10%, at 95 apiece on trading volume of over 2 million.