Oro Silver Intersects High-Grade; 909.9 g/t Silver and 4.70 g/t Gold Over 1 Metre at El Compas Project, Zacatecas, Mexico
16 Fevereiro 2010 - 10:30AM
Marketwired
Oro Silver Resources Ltd. ("Oro Silver or the "Company") (TSX
VENTURE: OSR) has received assay results from two more drill holes
at the El Compas project near Zacatecas, Mexico. The property is
located within the Fresnillo Trend, known as the world's largest
silver producing region. The highlight of the recent drilling was
an intersection from Hole 09COM054 (Hole 54):
-- 364.7 g/t silver and 1.66 g/t gold over 3.10 metres, including 909.9 g/t
silver and 4.70 g/t gold over 1.0 metre in drill hole 09COM054, located
approximately 160 metres vertically below and to the north of the El
Compas underground workings (from 207.0-210.1m downhole).
Darren Bahrey, President of Oro Silver stated: "Looks like we
are onto something very significant, the results of Hole 54 extend
mineralization at the El Compas vein target to its deepest level
yet. The silver grades in Hole 54 shows we can correctly predict
the location of the ore shoot and that our conceptual model for
high-grade silver mineralization at depth is testing true. This
intersection increases the potential to discover larger deposits
like MAG Silver's recent discovery at nearby Juanicipio project.
What we need to do now is vector in on potential wider zones below
Hole 54, on both NS and NW structures, and in particular at points
where these two structural trends intersect, and this is precisely
where our upcoming drill program is focused."
Drilling results
The Hole 54 intercept confirms the continuity of the El Compas
ore shoot to its deepest level yet (160m below mine portal
elevation) and improves the Company's understanding of El Compas
vein mineralization and its ore shoot geometry. Hole 54 is also the
Company's first attempt at drilling beneath the El Compas Mine with
a focus on targeting silver-rich mineralization. The fact that high
grade silver (but still with appreciable gold) was intersected in
this hole demonstrates that mineralization is becoming more
silver-rich with depth. This compares favorably with an historical
drill hole (HOLE-1) by Hochschild Mining, located 1 km to the
southeast of the El Compas vein, which tested the NW trending
Escuadra fault, intersecting a 0.9 metre wide quartz vein that
returned 703 g/t silver and 4.07 g/t gold at a vertical depth of
425 metres below surface (see Map 1). The location of Hole 54 was
guided by the results of recently completed induced polarization
and magnetic geophysical surveys, in addition to clay sample
spectral analysis (see press release dated February 11, 2010).
The El Compas Mine is located at the top of an epithermal vein
system. The deposit is open to the south and at depth and there
remains discovery potential in these areas as suggested by the hole
54 results. The targeted areas for the upcoming 2,500 metre drill
program will focus on surface-mapped structures coincident with
geophysical anomalies along the projection of veins being mined at
El Compas (and El Orito). Now that silver-rich mineralization has
been confirmed at depth along both NS and NW trending structures,
the intersection of these two structural elements could represent
target zones with enhanced potential for thicker vein development
and higher-grade mineralization and will also be drill tested.
Hole 56 tested the El Compas vein approximately 700 metres south
of the El Compas mine, down dip of a surface grab sample of
outcropping vein material that returned 11.25 g/t gold. The hole
intersected a 1.13 metre wide, banded quartz vein hosted in the
upper rhyolite unit that returned 0.76 g/t gold and 5 g/t silver,
and while not high grade this intercept suggests good continuity of
the vein.
A short summary of recent holes from drilling from the El Compas
project is given below outlining the significant widths and grades
at the project (see press releases dated November 10 and 17, 2009
and January 15 and 27, 2010):
--------------------------------------------------------------------------
Hole No. Interval Gold Silver
--------------------------------------------------------------------------
09COM054 1.0 m 4.70 g/t 909.9 g/t
--------------------------------------------------------------------------
09COM052 17.0 m 3.02 g/t 42.1 g/t
--------------------------------------------------------------------------
including 4.0 m 9.88 g/t 109.2 g/t
--------------------------------------------------------------------------
09COM048 5.9 m 19.95 g/t 166.3 g/t
--------------------------------------------------------------------------
09COM047 3.3 m 1.08 g/t 16.2 g/t
--------------------------------------------------------------------------
including 0.4 m 4.05 g/t 93.5 g/t
--------------------------------------------------------------------------
09COM046 8.2 m 5.20 g/t 87.7 g/t
--------------------------------------------------------------------------
09COM046 2.6 m 15.20 g/t 242.0 g/t
--------------------------------------------------------------------------
09COM043 4.3 m 193.20 g/t 1263.0 g/t
--------------------------------------------------------------------------
Quality Control
Oro Silver maintains a strict quality control program. All
sample results generated by Oro Silver were submitted directly to
Inspectorate Assay Laboratory, for preparation in Durango, Mexico,
and analysis in Reno, Nevada. All samples submitted for analysis
were of half-sawn core. Analysis was conducted on 2 assay ton
samples for gold and silver, with standards and blanks inserted
every 30 samples. Analysis of gold was by fire assay, with a
gravimetric finish on samples exceeding 3 g/t gold. Analysis of
silver was by 4-acid digestion with an ICP finish, and with a
gravimetric finish on samples exceeding 100 g/t silver. Due to the
common occurrence of native gold that may lead to a "nugget effect"
and subsequent under-reporting of gold values metallic analysis is
being performed samples containing visible gold and/or returning
greater than 5 g/t Au by gravimetric method. Mr. Thomas Bagan, P.
Eng is a qualified person as defined by National Instrument 43-101
and has reviewed the content of this press release.
About Oro Silver
Oro Silver is a silver exploration company pursuing early and
advanced stage silver-based opportunities in Mexico. Oro Silver's
mandate is to develop properties toward silver production through a
strategic business arrangement and development plan focused on
advanced-stage projects with known silver resources that exhibit
potential for expansion. The El Compas mine continues to be the
cornerstone for Oro Silver's growth strategy in the Zacatecas
silver district. The Zacatecas Fresnillo silver trend (known to
have produced several billion ounces of silver) is well known for
its silver production as the Fresnillo Mine 45km to the northwest
held by Industrias Penoles currently produce over 31 million ounces
of silver annually from high-grade (23 oz/T Ag plus up to 0.1 oz/T
Au) veins. Fresnillo commenced mining around the year 1560 and has
produced about 800 million ounces of silver (see,
http://www.penoles.com.mx).
ON BEHALF OF THE BOARD OF DIRECTORS,
Tom Bagan, P.Eng., Chief Operating Officer
Some statements in this release may contain forward-looking
information. These statements include, but are not limited to,
statements with respect to future exploration, resource estimation,
development and production activities and future expenditures.
These statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such factors
include, among others, the time and success of future exploration,
development and production activities and the timing and amount of
expenditures.
To view Map 1: El Compas Drilling Successes, please visit the
following link:
http://media3.marketwire.com/docs/osr_0216_map_1.pdf
To view Map 2: El Compas Section and 2010 Target Area, please
visit the following link:
http://media3.marketwire.com/docs/osr_0216_map_2.pdf
To view Map 3: Fresnillo Trend and Mining District Analogy,
please visit the following link:
http://media3.marketwire.com/docs/osr_0216_map_3.pdf
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Oro Silver Resources Ltd. Ariel Cobangbang (604)
646-1586 Oro Silver Resources Ltd. Suite 1400-625 Howe Street,
Vancouver, BC V6C 2T6 (604) 646-1585 (604) 642-2411 (FAX)
www.orosilver.com
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