Oroco Announces Grant of Stock Options
April 04 2023 - 2:27PM
Oroco Resource Corp. (
TSX-V: OCO, OTC: ORRCF)
(“
Oroco”
or “
the Company”) is pleased to
announce the grant of 450,000 incentive stock options (the
“
Options’) to Richard Lock, CEO and Director of the. Company
The Options are exercisable at the price of
$1.10 per share for a term of 3 years, expiring on April 3, 2026,
with 150,000 Options vesting immediately and a further 150,000
Options vesting on each of July 3, 2023 and October 3,
2023.
The Options are governed by the terms of the
Company’s 2022 Stock Option Plan and Mr. Lock’s services agreement
with the Company. Any shares issued pursuant to the exercise
of the Options will be subject to a four month and one day hold
period following the date of grant.
The grant of the Options is subject to the
approval of the TSX Venture Exchange.
ABOUT OROCO:
The Company holds a net 85.5% interest in the
collective 1,172.9 ha Core Concessions of the Santo Tomas Project
in NW Mexico. The Company also holds an 80% interest in
8,154.3 ha of mineral concessions surrounding and adjacent to the
Core Concessions (for a total project area of 23,048 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 Company is nearing the
completion of its 2021-2023 drill program at Santo Tomas with a
total of approximately 49,000 meters drilled in 76 diamond drill
holes to date.
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, 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.
Christy Fabros
Oroco Resource Corp.
(604) 358-9386
cfabros@orocoresourcecorp.com
Oroco Resource (TSXV:OCO)
Historical Stock Chart
From May 2024 to Jun 2024
Oroco Resource (TSXV:OCO)
Historical Stock Chart
From Jun 2023 to Jun 2024