Sydney, July 26, 2021 AEST (ABN Newswire) - Join Ellis Martin for a conversation with Adam Smith, the Vice President of Business Development and Corporate Finance for Oroco Resource Corp (
CVE:OCO) (ORRCF:OTCMKTS) (OR6:FRA)
Oroco, founded in 2006, is a Canadian mineral exploration company with a history of and expertise in the development of resource opportunities in Mexico. Oroco is led by a management team with significant experience in exploration, discovery, development and operations in the mineral sector. The company's focus is on the confirmation and expansion of the historical resource of the Santo Tomas porphyry copper project in Sinaloa State, Mexico. Oroco has a controlling interest in over 8,900 hectares of contiguous mineral concession that cover and surround the known core of the Santo Tomas mineralized structure as well as the potential extensions of the historical resource to the north and south. This controlling interest increases as Oroco funds the additional exploration and development of the project.
The company is pleased to announce that it has received approval from the Chihuahua State and Sinaloa State offices of the Mexican Secretariat of Environment and Natural Resources ("SEMARNAT") to conduct drill programs from a collective 55 approved drill locations in the Brasiles Zone and the North Zone of its Santo Tomas Project. While initial plans are for one hole per location, if warranted by results, the Company will be able to target different areas of the zone with multiple holes per location.
The Chihuahua State office of SEMARNAT approved the Company's 46 drill locations, supporting 28-person camp, and access road network the Brasiles Zone. The program will test the Brasiles Gossan zone (identified in surface exposure and further defined by the 3D IP program) and the Western blind target identified by the 3D IP program.
The Sinaloa State SEMARNAT office has approved a non-environmental impact 9 drill location program in the North Zone which is intended to confirm and expand the historical North Zone resource. While this approval does not allow for the construction of new roads, the deployment of light, highly portable drill rigs with helicopter support will offset this restriction. During this initial program, the Company will pursue the unified environmental impact assessment and change of land use permit, as recommended by SEMERNAT, which will allow for the construction of access roads, more drill locations and supporting infrastructure throughout the North Zone.
To listen to the interview, please visit:
https://www.abnnewswire.net/press/en/106262/oro
About Oroco Resource Corp
Oroco Resource Corporation (CVE:OCO) (OTCMKTS:ORRCF), founded in 2006, is a Canadian mineral exploration company with a history of and expertise in the development of resource opportunities in Mexico. Oroco is led by a management team with significant experience in exploration, discovery, development and operations in the mineral sector.
Oroco's focus is on the confirmation and expansion of the historical resource of the Santo Tomas porphyry copper project in Sinaloa State, Mexico, while continuing its assembly of neighbouring mineral concessions and the acquisition of certain other rights associated with the project. Oroco has a controlling interest in 8,908.79 hectares of contiguous mineral concession that cover and surround the known core of the Santo Tomas mineralized structure as well as the potential extensions of the historical resource to the north and south. This controlling interest increases as Oroco funds the additional exploration and development of the project.
The Santo Tomas project is a copper porphyry deposit which is historically defined by a total of 106 diamond drill and reverse circulation drill holes, totalling approximately 30,000 m. In July of 1994, Bateman Engineering Inc. conducted an economic assessment of the Santo Tomas project based on technical work by a team that included Mintec, Inc., Mountain States Research and Development, Inc., and Minetek S.A. de C.V. Bateman completed this study, termed "Santo Tomas Project, Sinaloa, Mexico, Pre-Feasibility Study." Current drilling activity is intended to confirm the historical project data and to further define the extent and quality of the resource.
While the economic assessment by Bateman contains favourable metallurgical test results and engineering designs that remain broadly acceptable today, the Company considers these historical economic studies and associated mineral resource estimates to be only conceptual in nature until confirmed by current technical programs.
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