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Orko Silver Corp. (TSX-V: OK.V) is developing one of the world's largest primary silver deposits, La Preciosa, located near the city of Durango, in Durango State, Mexico. The La Preciosa silver project and adjacent mineral concessions cover 32,400 hectares (80,000 acres) of contiguous mining claims.
Orko Silver says PA for La Preciosa rescheduled for Q2
Orko Silver Corp. (CVE:OK) announced today that the preliminary assessment (PA) for its La Preciosa deposit in Durango, Mexico has been rescheduled to allow for more time to examine various mining methods.
The move is a result of the recent spike in silver prices, which is expected to significantly impact the economics of La Preciosa.
The preliminary assessment, now scheduled for the second quarter 2011, will examine alternate mining methods and extraction scenarios.
The three main scenarios to be studied will be an underground operation, a combined underground and open-pit operation, and a large open-pit approach.
"This rescheduling of the PA for a few months is a logical step to ensure that multiple choices in design are available for the resource model, mine layout and processing plant," said president Gary Cope.
La Preciosa is under a joint venture agreement with Pan American Silver (TSE:PAA), which has the option to earn a 55% interest in the property by bringing the deposit into production. Orko retains a 45% interest carried to production.
As at the end of November, Pan American had completed more than 88,000 metres of diamond drilling at La Preciosa.
