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Orko Gold Corporation is a junior mineral exploration and development company comprised of highly qualified mining professionals focusing primarily on prospective silver and/or gold properties located in Mexico. Optioned a couple of adjacent properties in Durango State out of Wheaton River's LUISMIN portfolio.

Orko Gold Corporation   OK   (TSXV)

La Preciosa Property, Durango. Includes the adjacent Santa Monica Property in Municipio de Panuco de Coranado, also optioned from Luismin.

Upwards of 2.5 kilometres of underground development has been carried out at the site. Originally, a private operator exploited the mine. There is a winze that creates access to workings 70 metres beneath the 2065 Level. There are also many stopes that break through to surface along the trends of the two principal vein systems.  In 1981, LUISMIN secured the option and proceeded to slash the majority of the development along the 2065 Level, to apparently define the extent and width of the veining and to complete an underground channel sampling program. Channel sampling was carried out at 2.0 metre intervals. Detailed surface channel sampling programs were also completed along the surface expressions of the La Preciosa veins, as well as further to the east in an area known as Zona Oriente. Most of this work took place in the early to mid 1980’s. Along with this work, some drill testing was carried out, to assist in the definition of ore shoots that had been partially exploited by earlier mining and confirmed by LUISMIN channel sampling. There were 7 holes drilled in the area of the principal workings. One additional hole was drilled further to the east in the Zona Oriente, to test a series of siliceous breccias in domal bodies (silica caps), with acid leached vuggy silica and with linear vein expressions. This hole was stopped short of the target. It is estimated that LUISMIN has spent $US 2,000,000.00 at the site.

La Preciosa hosts epithermal vein systems of intense and multi-pulsaic, densely packed silicification, with little apparent sulphide mineralization in the old workings; but hosting substantial quantities of barite and minor quantities of galena. There is significant pyrite and base metal sulphide expression in the deeper core holes. It is likely a high temperature system as the crystalinity is coarse.

Host rocks are from oldest to youngest: andesitic agglomerate, basalt and finally agglomeratic basalt. All mine development is in andesite and all rocks are a red oxide colouration, in the underground workings-a reflection of near surface oxidation. Between veins, green, east dipping tuffaceous andesites were noted.

The principal commodity at La Preciosa is silver; a reflection of the anomalous presence of lead, which seems to consistently occur in the 0.2 to 0.3 percent range. Gold is not as significant a commodity as in other areas visited recently. Gold apparently occurs in a free state, while silver mainly occurs as Argentite.

At La Preciosa, the vein trend is principally north south, although there are subordinate, mineralized vein systems that run in an east-west direction. These east-west veins typically have higher gold values. The veining typically averages 2.5 metres width. Veta Abundancia trends north-south and dips in a westerly direction at between 40 and 60 degrees.

Mining has exploited Veta Abundancia, over roughly 150 metres vertically, from the uppermost surface breakthrough, to the lowest working, approximately 70 metres beneath the 2,065 Level. Veta Gloria lies to the west of Abundancia and is almost vertical, to steep west dipping. Mining has exploited Veta Gloria, over roughly 110 metres from the uppermost surface breakthrough’s, to the lowest workings, which are along the 2,065 Level. A third vein called Luz Elena in a west dipping vein that was cut in one of the drill holes (No. 7). All veins are interpreted to converge at depth.

Roughly one kilometre to the east of the historic La Preciosa workings, there is a north-northwest trending zone of silica caps, siliceous breccias and northwest trending vein systems known as the Zona Oriente. Locally the veining here is manganese coated. Barite is ever present. Sampling has revealed anomalies in gold, silver, lead and zinc. There are apparently zones of narrow quartz veining, with barite and calcite, further to the east of the Zona Oriente.

wwwinfo 15Jan05