Business
Oroco Reports a 25.3 Million Tonne Indicated Resource and 4.69 Million Tonne Inferred Resource at Cerro Prieto
(via Thenewswire.ca)
About this update from Oroco Resources Corp.
[{"type":"text","content":"Oroco Reports a 25.3 Million Tonne Indicated Resource and 4.69 Million Tonne Inferred Resource at Cerro Prieto\n\n(via Thenewswire.ca)\nVANCOUVER, British Columbia - (January 27, 2009) Oroco Resource Corp. (\"Oroco\" or the \"Company\") is pleased to report the results of an independently calculated mineral resource estimate based on data from the recently completed Phase 1 exploration program at the 100% owned Cerro Prieto project in Sonora State, Mexico. The National Instrument 43-101 compliant study concludes that work to date on the property has outlined an indicated resource of 25,250,000 tonnes with an average grade of 0.52 g/t Au, 8.6 g/t Ag, 0.34% Pb and 1.02% Zn and, in addition, a total inferred resource of 4,690,000 tonnes with an average grade of 0.17 g/t Au, 19.4 g.t Ag, 0.37% Pb and 1.20% Zn.\n\nKen Thorsen, President and CEO of Oroco, stated, \"We are extremely excited to be releasing this initial National Instrument 43-101 Resource Estimate on the Cerro Prieto project. It is based on a diamond drill program of 23 holes, all of which successfully intercepted the mineralized zone (with the exception of two which failed to reach the zone because of bad ground conditions) and included mineralization that contributed to the resource. Also noteworthy is that the Phase 1 exploration program included surface trenching confirming mineralization over a strike length 100% greater than that of the drill holes incorporated in this resource estimate, as well as a successful step out drill hole 300 meters north of the resource. The deposit remains open on strike to the north and south and to depth. We strongly feel that drilling in a Phase 2 exploration program, expected to be completed during 2009, has significant potential to add to the resource both on strike and down dip.\"\n\nThe following table outlines the indicated and inferred resources using a 0.5 g/t gold equivalent cut-off.\n\nTable 1. Cerro Prieto Mineral Resource\n\nCategory Tonnes Au Ag Pb Zn \n (g/t) (g/t) (%) (%) \nIndicated 25,250,000 0.52 8.6 0.34 1.02 \nInferred 4,690,000 0.17 19.4 0.53 1.69 \n\nThe contained metal with in the resource is:\n\nTable 2. Cerro Prieto Contained Metal\n\nCategory Tonnes Gold (ounces) Silver (ounces) Lead (M lbs) Zinc (M lbs) \nIndicated 25,250,000 422,145 6,981,641 189.2 567.6 \nInferred 4,690,000 25,635 2,925,313 54.8 174.7 \n\n...