Oro Silver Resources Ltd.
TSX VENTURE : OSR

Oro Silver Resources Ltd.

October 06, 2010 08:15 ET

Drilling Commenced at Oro Silver's El Compas Project, Zacatecas, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2010) - Oro Silver Resources Ltd. ("Oro Silver or the "Company") (TSX VENTURE:OSR) has commenced drilling on its El Compas gold project near Zacatecas, Mexico. This phase of drilling is designed to increase the near- surface gold resource at both the El Compas and El Orito veins. Drilling will define the shape and orientation of the high-grade gold portion of the vein zones. 

The last drill campaign returned excellent grades and widths and good continuity at both the El Compas and El Orito vein targets. The best vein intercepts include the following:

  • El Compas vein: 193.2 g/t gold and 1,263.9 g/t silver over 4.3 metres (true width) in hole COM43 (see press release dated November 10, 2009)
  • El Orito vein: 20.0 g/t gold and 166.3 g/t silver over 5.9 metres (downhole length) in hole COM48 (see press release dated January 15, 2010)

Refer to the appended plan map and sections at the bottom of this release.

Drilling was initiated on the El Orito vein target. Three holes (COM 61 to 63) have been completed in the area of hole COM48. The first hole (COM61) was designed to define and extend the high-grade gold ore shoot in the El Orito vein, and intersected a quartz vein zone from 42 to 57 metres in downhole. This zone exhibited well developed banded and bladed vein textures with disseminated black, silver sulphide and visible gold mineralization (see photos posted on web site). Holes 62 and 63 are expected to extend the high grade gold zones at the El Orito vein. Core samples from the vein zones in the holes completed at El Orito have been submitted for assaying and results are pending. The drill program also includes completing additional holes at the El Compas vein target.

Upcoming plans

  • Resource expansion drilling
  • Completion of El Compas and El Orito geological resource model
  • Updated NI 43-101 resource estimate
  • Final compilation of the exploration surface results showing additional vein targets identified on the El Compas property, which remain to be drill-tested 
  • Scoping studies completed by an independent consultant

ON BEHALF OF THE BOARD OF DIRECTORS,

Darren Bahrey, President and & CEO

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 "Figure 1 – Plan Map of El Compas Gold Targets", please visit: http://media3.marketwire.com/docs/osrfig1.pdf.

To view "Figure 2 – El Orito Long Section", please visit: http://media3.marketwire.com/docs/osrfig2.pdf.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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