OROCO RESUMES DRILLING AT SANTO TOMAS
July 05 2022 - 1:22PM
VANCOUVER, Canada – Oroco Resource Corp. (
TSX-V: OCO; OTC:
ORRCF) (
“Oroco” or “the Company”) is pleased to announce
that it has resumed its drilling operations at Santo Tomas as the
Federal military operations in the area have ended. Drilling
commenced overnight at Brasiles with the resumption of Hole B007,
and in the North Zone with the continuation of Hole N020.
“A safe and orderly return to drilling has been undertaken and
we look forward to increasing our productivity with the additional
drill capacity that is being planned” stated Richard Lock, Oroco’s
CEO.
Core logging and assaying have continued during the period of
drill stoppage, with an improvement in methods of handling and
analysis, thereby better preparing the geological team for an
increase in the rate of core processing.
In addition, Oroco has started work with Ausenco to prepare a
43-101 Preliminary Economic Assessment (PEA). Initial
work on metallurgical testing is underway with samples being
selected for shipment to the lab. It is planned for the PEA
to be completed in Q1 2023.
ABOUT OROCO:
The Company holds a net 73.2% 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 85.5% 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
northeast. 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, totalling
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 160 km 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept 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.
Richard Lock, CEO
Oroco Resource Corp.
(604) 688-6200
info@orocoresourcecorp.com
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