Orko Silver Releases the Results of a New Engineering Study
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/02/12 -- Orko Silver Corp. (TSX VENTURE: OK) ("Orko") is pleased to provide a synopsis of the results of a new engineering study recently completed on our 100% owned La Preciosa project by our independent consultant AMEC Americas Limited ("AMEC").
AMEC carried out a Preliminary Mineability Assessment ("PMA") on the La Preciosa deposit, covering both open pit and underground mining options as presented in the Preliminary Economic Assessment ("PEA") previously released by Orko and our former partner Pan American Silver Corp., on August 11, 2012.
AMEC's PMA is based on a detailed examination of selected drill cores during two site visits in January and February, of 2012. As the result of their work, AMEC concludes "that there is no readily identifiable reason to suppose that both open pit and underground mining could not productively and safely be carried out in the La Preciosa deposit. There are persistent joint planes that trend parallel to the average dip and strike of individual veins, but the instability potential that could arise from these structures could readily be controlled through the use of appropriate support types, densities and strategies". The full PMA will be posted on the Company's website in the near future.
The results presented in the PMA are preliminary. More detailed geotechnical investigations and characterizations are still required, at the pre-feasibility level of project development, before firm and final conclusions can be derived concerning the details of access, open pit slope configurations, stoping strategies, layouts and support systems. Full recommendations to complete the pre-feasibility study will be included as part of the new independent AMEC authored PEA that is anticipated in August or September.
Gary Cope, President and CEO of Orko noted, "We have always had faith that all criteria essential to a successful mining operation exist at La Preciosa. With this study, AMEC has taken us one step closer to that eventuality."
Orko is anticipating the results of a new independent resource estimate currently being prepared by Mining Plus, an international mining consulting firm. This resource estimate scheduled to be completed and released in May, will be an integral component of the new PEA.
Orko currently has approximately $12 million in cash and short-term investments and is well funded to continue to advance the project. Orko will take over as operator and is in the planning stages of further optimization on the project.
George Cavey, P.Geo., is the Qualified Person for Orko Silver Corp. and takes responsibility for the technical disclosure in this news release.
About Orko Silver Corp.
Orko Silver Corp. is developing one of the world's largest undeveloped 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
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 and Orko undertakes no obligation to update such statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Orko Silver Corp.
Gary Cope
President
(604) 687-6310
www.orkosilver.com
