OROCO COMPLETES AIRBORNE MANETICS SURVEY AND UPDATES 3D IP SURVEY PROGRESS AT SANTO TOMAS
March 03 2021 - 8:00AM
Oroco Resource Corp. (
TSX-V: OCO)
(“
Oroco” or “
the Company”) is
pleased to announce the successful completion of the airborne
component of a helicopter magnetics survey over the Santo Tomas
Project (
“the Project”), and to provide an update on the 3D
induced polarization survey in progress on the Project.
Magnetics Survey. The Company has completed a
helicopter magnetics survey performed by Terraquest Ltd.
(“TQ”) using a high sensitivity cesium vapour magnetometer,
a gamma ray spectrometer and TQ’s proprietary Matrix very low
frequency electromagnetic (“VLFEM”) system. The survey
was completed with the collection of 2,231 line kilometers of data
with an east-west tie-line separation of 50 metres and a
north-south tie-line separation of 500 metres. Independent
quality monitoring of the survey is being provided by Condor
Consulting, Inc. of Lakewood, CO. The Company expects to receive
the processed magnetics, VLFEM and radiometric data from TQ within
the next two months. The Company will then analyze the data to
assist in the mapping of the sub-surface geology of the
Project.
3D IP Survey. Further to its news release of January 27,
2021, the Company has completed the deep, three-dimensional Induced
Polarization geophysical survey (“3D IP”) over the south
eastern extension to the project survey grid on the South Zone of
the Project, closing off the eastern extension of the South Zone
chargeability feature.
The Company has now relocated the survey team to the Brasiles
Zone in the northern part of the grid and commenced the survey of
the continuation of NNE striking, west-dipping, chargeability-high
response which the 3D IP survey has already demonstrated extends
from the North Zone to the prominent gossan of the Brasiles Zone.
The Company is taking advantage of the current low water levels in
the Huites Reservoir to collect data from previously inaccessible
areas, and will continue the 3d IP survey for another 800 metres to
the north. The Company may extend the survey further in the
event that the Brasiles chargeability feature has not been closed
off. Subject to such extensions, the DCIP survey is
approximately 80% complete.
The relative outlines of the airborne magnetics and field-based
DCIP geophysical surveys are shown in the map in Figure 1.
ABOUT OROCO:
The Company holds a net 61.4% interest in the collective 1,172.9
ha core concessions of the Santo Tomas Project in NW Mexico and may
increase that majority interest up to an 81.0% interest with a
project investment of up to CAD$30 million. The Company also
holds a 77.5% interest in 7,807.9 ha of mineral concessions
surrounding and adjacent to the core concessions (for a total
project area of 22,192 acres). The Project is situated within
the Santo Tomas District, which extends from Santo Tomas up to the
Jinchuan Group’s Bahuerachi project, approximately 14 km to the
north-east. Santo Tomas hosts a significant copper porphyry
deposit defined by prior exploration spanning the period from 1968
to 1994. During that time, the property was tested by over 100
diamond and reverse circulation drill holes, totaling approximately
30,000 meters. Based on data generated by these drill programs, a
historical Prefeasibility Study was completed by Bateman
Engineering Inc. in 1994.
The Santo Tomas Project is located within 160km of the Pacific
deep-water port at Topolobampo and is serviced via highway and
proximal rail (and parallel corridors of trunk grid power lines and
natural gas) through the city of Los Mochis to the northern city of
Choix. The property is reached by a 32 km access road originally
built to service Goldcorp’s El Sauzal Mine in Chihuahua State.
For further information, please contact:
Mr. Craig Dalziel, President and CEO Oroco Resource Corp.
Tel: 604-688-6200
www.orocoresourcecorp.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
Cautionary Note
Regarding Forward Looking Information
This news release includes certain “forward-looking
information” and “forward-looking statements” (collectively
“forward-looking statements”) within the meaning of applicable
Canadian securities legislation. All statements, other than
statements of historical fact included herein, including without
limitation, statements relating to future events or achievements of
the Company, are forward-looking statements. There can be no
assurance that such forward-looking statements will prove to be
accurate, and actual results and future events could differ
materially from those anticipated or implied in such statements.
Many factors, both known and unknown, could cause actual
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements.
Readers should not place undue reliance on the
forward-looking statements and information contained in this news
release concerning these matters. Oroco does not assume any
obligation to update the forward-looking statements should they
change, except as required by law.
- Screen Shot 2021-03-03 at 1.14.48 AM
Oroco Resource Corp.
(604) 688-6200
info@orocoresourcecorp.com
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