Business
Oroco Resource Corp closes private placement as company looks to move Santo Tomas Property forward
(NewsDirect) Oroco Resource Corp’s vice president of business development Adam Smi...
About this update from Oroco Resources Corp.
[{"type":"text","content":"Oroco Resource Corp closes private placement as company looks to move Santo Tomas Property forward\n \n \n (NewsDirect)\n \n \n \n \n Oroco Resource Corp’s vice president of\nbusiness development Adam Smith joined Steve Darling from Proactive to\nshare news the company has announced the successful completion of a\nfully subscribed non-brokered private placement, yielding gross\nproceeds of $1.75 million. These funds are earmarked to drive progress\non the Santa Tomas Project, a crucial venture for the company.\n \n \n Oroco Resources Corp holds a noteworthy\nnet interest of 85.5% in the Santo Tomas Project, strategically\nsituated in Mexico. Moreover, the company retains an 80% interest in\nan additional 7,861.3 hectares of mineral concessions that encompass\nand adjoin the core concessions. Notably, the Santo Tomas Project has\nbeen host to significant copper porphyry mineralization, a fact\nsubstantiated by previous exploration activities spanning from 1968 to\n1994.\n \n \n In May 2023, Oroco Resources\nCorp reached another milestone by completing a comprehensive Mineral\nResource Estimate for the core concessions. This assessment yielded a\nsubstantial Indicated and Inferred resource totaling 1.087 billion\ntonnes, characterized by a copper equivalent grade of 0.36%.\n \n \n The successful private placement reflects\nthe confidence of investors in Oroco Resources Corp's strategic\nvision and the potential of the Santa Tomas Project. The additional\nfunding secured through this placement will bolster the company's\nability to move forward with its ambitious plans for exploration,\ndevelopment, and resource optimization.\n \n \n As the company\ncontinues to advance the Santa Tomas Project, it reinforces its role\nas a key player in the pursuit of valuable mineral resources and\nsustainable mining practices in Mexico's rich geological\nlandscape.\n \n \n \n Contact Details\n \n \n \n Proactive\nInvestors\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2501,"tagName":"div"}]