OROCO COMMENCES DIAMOND DRILLING AT BRASILES ZONE
Vancouver, Canada, Nov. 17, 2021 (GLOBE NEWSWIRE) — Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “the Company”) is pleased to announce the start of diamond drilling at the Brasiles Zone (“Brasiles”) of its Santo Tomas Project in Mexico. Brasiles potentially represents the northern extension of the mineralization in the Santo Tomas North Zone and is comprised of two very broad, sub-parallel, exploration targets. The drilling at Brasiles is supported from the Company’s new 28-person Brasiles exploration camp and its custom-built Hydracore 5000 Max diamond drill.
The first hole underway at Brasiles targets a prominent NE striking, chargeability-high, resistivity-low response (the “Brasiles Target”) identified by the Company’s 3D-IP survey (see the Company’s June 2, 2021 News Release), which extends from the North Zone to and beyond the prominent gossan of the Brasiles Zone.
The second Brasiles target (Brasiles West) is represented by a blind chargeability-high feature located west of and sub-parallel to the Brasiles Target. The Brasiles West Target is overlain by a blanket of meta-limestone and young, post-Laramide age conglomerates.
The Company has also commenced drilling ST-010, the 10th hole collared in the North Zone. Hole ST-005 was terminated at 37.5m owing to instability in the host rock and was re-collared as the now completed ST-006. The Company has drilled over 6,600m in North Zone of the Santo Tomas Project since the commencement of drilling at the end of July of this year.
The Company expects to be able to release Cu-Mo-Au-Ag assays for the first three holes in the North Zone (ST-001, ST-002 and ST-003) in the very near future.
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. 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.
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.