Company Information for Oro Silver Resources Ltd

Company stock charts - 6 Month chart

TSX.V; OSR View full financial data

Company Statement

Oro Silver Resources Ltd. is a silver exploration company pursuing early and advanced stage silver-based opportunities primarily in Mexico. The company is focused on: 

• Developing resources and optimizing the milling processes at its El Compas Mine project in Zacatecas, Mexico 
• Completing additional strategic acquisitions 
• Rapidly advancing active projects towards new discoveries

CORPORATE OVERVIEW

Oro Silver Resources Ltd. was founded in February 2007 to explore and develop advanced stage silver projects located in the western hemisphere. The company’s goal is to become a mid-tier silver producer through an aggressive acquisition and development plan, focused on projects with known silver resources exhibiting potential for expansion.

CORPORATE HIGHLIGHTS

• Options to acquire 100% interest of El Compas, a producing silver-gold mine in Zacatecas, Mexico
• El Compas Mine Project: 2008 drill intercepts of 15.3 g/t Gold 76.0 g/t Ag Silver over 6.6m.
• Completed a Resource Estimate (NI-43-101 compliant) on El Compas:
  
  - Indicated: 65,000 oz gold eq. (310,000 tonnes @ 6.52 g/t)
  - Inferred: 41,200 oz gold eq. (234,000 tonnes @ 5.48 g/t)
• Zacatecas is one of the largest historic silver districts in the world with past production estimated at 1.0 billion ounces*
• Additional +20 properties with small-scale and historic production; strategically located in prolific silver-rich belts in Mexico
• Management consist of former Placer Dome senior executives – directly associated with the definition of +50 million ounces of gold (and gold equivalent precious metals)

Oro Silver’s strategy is rooted in the principles of mine-site exploration and optimization. The company seeks to create value in two ways: (1) by expanding known silver resources through a systematic exploration and development plan, and (2) by optimizing production processes, thereby increasing recovery rates and maximizing return on investment.

Current Operations

EL COMPAS MINE

Project Highlights:

• El Compas Resource (NI-43-101):
  o 65,000 oz gold eq. Indicated (310,000 tonnes @ 6.52 g/t)
  o 41,200 oz gold eq. inferred (234,000 tonnes @ 6.52 g/t)
• 10 vein zone targets in district
• Potential for 100,000 – 150,000 oz gold per zone
• 4 – 8m wide veins 
• 5 – 8 g/t gold eq. average grade
• Small-scale gold production potential to create cash flow

2009 Work Plan:

• Drilling on the 34 km2 El Compas property to further expand the El Compas and El Orito vein zones, and to test additional vein targets in the district
• Finalize a preliminary mine design, planning, and cost estimation to complete a preliminary economic assessment in Q2 of 2009
• Complete the environmental due diligence process and obtain required permits
• Identify milling options
• Update the resource estimate on El Compas

Property Description:

• El Compas project is located 4km south of the Zacatecas State capital
• Consists of 10 concessions covering 2,158 hectares 
• Average grade of El Compas “ore” is approximately 6-7 g/t AuEq (50-80 g/t Ag), with average vein thickness at +4m 
• El Compas is a low sulphidation epithermal system with typical “bonanza” Au and Ag grades 
• Deal payments are spread over 2 years: 60% paid to date; 51% interest acquired in 2008; 100% interest by June 2009

MULEROS

Project Highlights:

• Historic mining dating back to the 1900’s.
• 100% interest acquired in July 2007.
• 2 sub-parallel, 1-2 metres wide veins mapped on surface.
• Controlling +1km of veins strike extend.

2009 Work Plans:

• Geological mapping.
• Trenching and surface sampling.

Property Description:

• Project located 4 km north of the town of Vetagrande.
• Consist of 3 concessions covering 46 hectares: Acquisition of Ampliacion
• Al Descubrimiento pending first right of refusal under agreement with Contracuna SA. de C.V.
• Excellent access and infrastructure.
• No indication of any modern exploration work.
• Surface samples grading up to 1,058 g/t silver.

OROCUÑA PROPERTIES

Project Highlights:

• In 2008, acquired a 51% interest in 18 mining concessions located within the Zacatecas/Fresnillo districts.
• Retained the right to acquire the remaining 49%.
• Historic mining on all properties; limited exploration perform on most properties

2009 Work Plans:

• Geological mapping.
• Trenching and surface sampling.

Property Description:

• Properties located within a 50km radius from Zacatecas.
• Excellent access and infrastructure.
• Globally, the 18 missing concession cover a 685 hectares area.
• Best results from surface sampling completed so far (La Blanca concession) include : (1) 83.8 g/t silver and 2.45 % copper; (2) 174.3 g/t silver, 1.09 % zinc, 0.66 % copper; and 184 g/t silver, 1.79% zinc, and 5.12 % lead.

GUASIMA PROPERTY

Project Highlights:

• 100% interest acquired in 2007: transfer from Oro Gold Resources portfolio.
• Early stage exploration property.
• 8km² soil poly-metallic anomaly identified

2009 Work Plans:

• Basic geological and geochemical survey.
  Compilation.

Property Description:

• Located in the State of Sinaloa, Mexico.
• Consist of 3 concessions totaling 1,809 hectares, adjacent to the Panuco-Copala mining district near Mazatlan.
• The Panuco-Copala district historically host important silver rich veins that are currently being exploited along strike.

MIHUATLAN PROPERTY
Project Highlights:

• Qualifying property; 100% interest acquired in 2007: transfer from Oro Gold Resources portfolio.
• Property optioned out to Silvrex (UK based exploration company) in February 2008
• Silvrex can acquire 60% interest in the Mihuatlan property by spending $3 million and issuing 1 million common shares over a three year period

2009 Work Plans:

• Compilation
• Drill program planned for 2009.

Property Description:

• The Mihuatlan Property is a silver-gold epithermal vein system located in the Sierra Madre Occidental
• It consist of 2 concessions totaling 4,540 hectares
• The property was drilled in the late 1980's by the Mexican government
  Non NI 43-101 compliant resource disclose: 1 million tonnes @ 300 g/t silver & 1.0 g/t gold for app. 10 million oz silver. (Source: Consejo de Recorso Mineral, Mexico)
• Best intercepts of 4.39 meters grading 670 g/t silver and 1 g/t gold

Geographical Spread

The Zacatecas/Fresnillo districts, located in the State of Zacatecas, Central Mexico, host one of the world's largest historic silver belt with past production estimated at 1.5 billion ounces silver.

Board of Directors and Key Management

Darren Bahrey	President
Gregory M. Cox	Chairman
Mark Pryor	Director
Derek White, CA	Director
Gregory Martin	Director
Brian Fowler, P.Geol	Director
Gregory M. Cox	Chairman
Peter Kendrick	Chief Financial Officer
Thomas Bagan	VP of Operations & COO
Robert A. Kendrick	Assistant Manager Admin/Logistics/IT
Eric Grill	Senior Project Manager
Ariel Cobangbang
Robert Cope
Serge Tremblay, D.E.C, GIS / Data / Graphics Specialist

Company Address 1400-625 Howe Street Vancouver, British Columbia, Canada V6C 2T6 Telephone: +1 604 646-1588 Facsimile: +1 604 642-2411 Email: communications[at]orosilver.com Website: http://www.orosilver.com

Additional Address/Key Contact Investor enquiries: Ariel Cobangbang Marketing and Corporate Communications 604.646.1586

Capital SHARES ISSUED 29,270,004 FULLY DILUTED 34,601,029 ESCROW SHARES 450,000 OPTIONS OUTSTANDING 800,000 @$0.27 to February 8, 2012 175,000 @$0.71 to July 5, 2012 195,000 @$0.78 to October 18, 2012 45,000 @$0.99 to December 6, 2012 332,000 @$0.81 to December 20, 2012 480,000 @$0.70 to May 23, 2013 110,000 @$0.70 to June 2, 2013 200,000 @$0.45 to October 15, 2013 WARRANTS 1,769,027 @$1.25 to December 20, 2009 918,000 @$0.45 to October 7, 2010 219,166 @$0.45 to November 12, 2010 (as at 31 January 2009)

Year End 30 April

Related News

28/04/09 - New Money For Oro Silver Means Drilling To Increase The Size Of The El Compas Project In Mexico Can Now Get Underway
25/06/08 - Oro Silver Expands Quickly In Mexico, Helped By Strong Local Relationships

Most Recent Statement

25/06/09 - Oro Silver Provides An Update on Drill Program Completed By JV Partner At Miahuatlan, Mexico
16/06/09 - Oro Silver to Assess Thiosulfate Processing Option at El Compas Property, Zacatecas, Mexico
15/06/09 - Oro Silver Commences Drilling On El Compas Property, Zacatecas, Mexico
12/06/09 - ORO SILVER COMPLETES PRIVATE PLACEMENT AND GRANTS STOCK OPTIONS
02/06/09 - ORO SILVER ANNOUNCES PRIVATE PLACEMENT
29/05/09 - ORO SILVER PRIVATE PLACEMENT OVERSUBSCRIBED AND COMPLETED