OROCO ANNOUNCES THE START OF DRILLING AT SANTO TOMAS
July 29 2021 - 12:59PM
Oroco Resource Corp. (
TSX-V: OCO; OTCQB: ORRCF)
(“
Oroco” or “
the Company”) is
pleased to announce that it has commenced diamond core drilling at
its Santo Tomas copper project, with the first drill hole collared
and in progress. A second drill rig is scheduled to begin
operating next week, and a third rig, constructed for the Company
by Hydracore Drills Ltd. of Canada, is in transit to the project.
The drill hole currently in progress is located in the North
Zone and represents the first drill hole collared anywhere on the
property since 1993. The initial drilling is intended to
confirm the presence of historically defined polymetallic copper
mineralization and to begin the development of new mineral resource
models at Santo Tomas.
Commenting on the start of drilling, Oroco’s CEO, Craig Dalziel,
stated "We are extremely pleased to be able to initiate a new
generation of drilling at Santo Tomas at a time when the
acceleration of large copper projects is essential for global
economic growth and stability. We are anxious to confirm and extend
the historical resources at the North and South Zones, and to
commence exploration at the Brasiles Zone, where our 3D DCIP
program indicated extensive and compelling chargeability
features.”
The initial holes in the drill program will be collared in the
North Zone and will be drilled at steep angles to the
East-Southeast. While heavy rains have impacted roads and
mobilization, causing the initial drill setups to be supported by
helicopter, the rapidly rising reservoir has enabled the project
team to revert to waterborne support of the drilling program from
the Company’s existing Buena Vista base camp. The light and
highly (man-) portable drills being deployed by the Company allow
for drilling at favourable locations with no environmental
impact. Targeting for drilling is being informed by the
recently completed 3D DCIP survey which has defined significant
chargeability features that correlate well with mineralisation
known from historical drilling and which features continue beyond
the mineralization defined by that drilling.
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.
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.
Craig Dalziel
Oroco Resource Corp
6046886200
cdalziel@orocoresourcecorp.com
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