Category: Silver / Gold

Oro Silver Resources Ltd ( OSR )

Published: 16 November 2008
TSX Venture   Mining   Drill Results  

ORO SILVER DISCOVERS NEW VEIN SYSTEM & CONFIRMS STRUCTURAL DEPTH EXTENSION OF VETAGRANDE VEIN SYSTEM, ZACATECAS, MEXICO

Oro Silver Resources Ltd. (“Oro Silver”) (TSX-V: OSR) has received all final assay results for the summer 2008 Vetagrande drilling program which was completed in August 2008. The objectives of the drilling program were to test the structural down-dip extension of the historic Vetagrande mine vein system, and to test the exploration potential for additional sub-parallel vein systems.

The drilling program consisted of 6 deep core holes for a total of 3,552 metres. The drill holes spaced between 200 to 350 metres apart along the Vetagrande vein structure, aimed at intersecting the structure between 250 and 600 metres below surface, or between 30 to 150 metres below the deepest production level of the historic mine. All holes successfully intersected the Vetagrande structure within 10 metres of where it was predicted, but due in part to the nature of the mineralized shoots, the style of mineralization, and drill hole spacing, the continuity of silver grade was not encountered although base metal values are typical of historic grade.

 

Of significant interest are the multiple, relatively narrow but high grade silver, veins intersected in DDH 06VGX006, the westernmost hole. These veins are in the structural hanging wall of the Vetagrande structure and appear to be open at depth and along strike. These results demonstrate the significant exploration potential at Vetagrande, a conclusion also supported by surface geological mapping and geochemical sampling completed earlier this year.
“Although the results from the first phase of drilling did not return the silver values we were anticipating, we successfully met the main objectives of the program by confirming the depth extension of the Vetagrande vein and demonstrating the exploration potential of the property with the discovery of additional, high-grade silver veins,” stated Herve Thiboutot, CEO & VP Exploration.
Table 1 provides a summary of the best intercepts from the 2008 drilling program, while a complete assay results table is available on Oro Silver’s website. Drill hole locations are shown on the appended figures.
  
Table 1 - Summary Results: Vetagrande 2008 Drill Program
VEINS / TARGETS
FROM (M)
TO       (M)
DOWN HOLE LENGTH (M)
GOLD (g/t)
SILVER (g/t)
LEAD    (%)
ZINC    (%)
COPPER (%)
08VGX001B
HW
240.81
241.09
0.28
0.06
26.1
0.91
2.35
0.04
 
HW
306.83
307.00
0.17
0.08
16.1
1.12
1.90
0.06
 
Vetagrande
415.21
419.52
4.31
0.14
24.6
0.28
0.33
0.07
 
FW
481.32
481.87
0.55
0.02
27.7
1.24
0.70
0.13
08VGX003
HW
369.51
369.89
0.38
0.04
2.8
0.00
1.17
0.01
 
Vetagrande
445.20
450.57
5.37
0.15
54.6
0.20
0.51
0.03
 
FW
470.99
472.11
1.12
0.38
25.2
0.45
1.33
0.05
08VGX004
FW
162.34
162.67
0.33
0.71
24.1
0.20
1.49
0.02
 
FW
169.70
176.49
3.85
0.23
9.9
0.61
1.12
0.03
 
Vetagrande
386.65
???
Intersected underground working – no recovery
08VGX005
HW
395.50
398.49
2.99
0.29
169.7
0.46
0.96
0.11
 
Vetagrande
557.36
557.55
0.19
0.01
0.2
0.00
0.01
0.00
08VGX006
HW
91.75
92.14
0.39
0.05
125.0
0.01
0.03
0.00
 
HW
134.76
137.17
2.41
0.40
193.9
0.01
0.04
0.01
 
HW
146.63
146.81
0.18
0.89
590.3
0.23
2.10
0.02
 
HW
160.89
161.38
0.49
0.16
918.2
0.07
0.29
0.02
 
HW
289.52
292.00
2.48
0.53
120.6
0.03
0.05
0.01
 
HW
291.00
292.00
1.00
0.19
241.4
0.02
0.09
0.01
 
HW
379.89
380.19
0.30
0.83
36.0
1.23
7.10
0.10
 
HW
421.61
421.91
0.30
0.42
16.8
0.54
2.30
0.02
 
Vetagrande
458.85
463.98
5.13
0.13
18.1
0.62
0.44
0.07
 
Including
463.10
463.98
0.88
0.23
71.3
2.51
1.70
0.24
 
FW
476.50
477.23
0.73
0.03
12.8
1.38
0.26
0.06
 
FW
482.00
483.50
1.50
0.01
34.2
2.53
2.26
0.17
HW = hanging wall to Vetagrande vein
FW = footwall to Vetagrande vein
 
Oro Silver’s generative and exploration programs are supervised by Mr. Herve Thiboutot, P. Eng., Chief Executive Officer and Vice-President Exploration. Mr. Thiboutot is a qualified person as defined by National Instrument 43-101. Mr. Thiboutot has reviewed the content of this press release.
Quality control
Oro Silver maintains a strict quality control program. All samples results generated by Oro Silver were submitted directly to Inspectorate de Mexico, S.A de C.V., for preparation in Mexico, and analysis in Reno, Nevada. Analysis was conducted on 1 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 atomic absorption, with a gravimetric finish on samples exceeding 200 g/t silver. Samples exceeding 10,000 part per million for copper, lead, or zinc were analyzed by a gravimetric finish.  Triple acid digestion was used on all samples.
About Oro Silver
Oro Silver is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in Mexico.  Oro Silver's strategy is to develop properties towards silver production through strategic business arrangements and development plans focused on advanced-stage projects with known silver resources that exhibit potential for expansion.
ON BEHALF OF THE BOARD OF DIRECTORS,
Herve Thiboutot
Chief Executive Officer
Suite 1400-625 Howe Street, Vancouver BC V6C 2T6
Telephone: 604 646-1588 Facsimile: 604 642-2411
www.orosilver.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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.