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Oroco Resource Files PEA Technical Report For Santo Tomas
Vancouver, Canada, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (“Oroco” or the “Company”) (TSXV: OCO; OTCQB: ORRCF, BF: OR6) is pleased to announce t
About this update from Oroco Resources Corp.
[{"type":"text","content":" Vancouver, Canada, Dec. 01, 2023 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (“Oroco” or the “Company”) (TSXV: OCO; OTCQB: ORRCF, BF: OR6) is pleased to announce the filing of an independently prepared Preliminary Economic Assessment (“PEA”) technical report (the “Report”) for its Santo Tomas Project in Sinaloa, Mexico. The Report, dated October 11, 2023 and titled “Santo Tomas Copper Project NI 43-101 Technical Report and Preliminary Economic Assessment”, has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure of Mineral Projects. Results of the PEA were previously announced in the Company’s news release dated October 17, 2023. There are no differences in the Report from those results previously reported. The Report is available on the Company’s website at www.orocoresourcecorp.com and on SEDAR under the Company’s issuer profile at www.sedarplus.ca. ABOUT OROCO The Company holds a net 85.5% interest in those central concessions (the “Core Concessions”) comprising 1,173 hectares of the Santo Tomas Project located in northwestern Mexico. The Company also holds an 80% interest in an additional 7,861 hectares of mineral concessions surrounding and adjacent to the Core Concessions (for a total Project area of 9,034 hectares, or 22,324 acres). The Project is situated within the Santo Tomas District, which extends up to the Jinchuan Group’s Bahuerachi Project, approximately 14 km to the northeast. The Project hosts significant copper porphyry mineralization defined by prior exploration spanning the period from 1968 to 1994. During that time, the Project area was tested by over 100 diamond and reverse circulation drill holes, totalling approximately 30,000 meters. Commencing in 2021, Oroco conducted a drill program (Phase 1) at Santo Tomas, with a resulting total of 48,481 meters drilled in 76 diamond drill holes. In October of 2023, the Company announced a Preliminary Economic Assessment and Updated Mineral Resource for the North and South Zones of the Santo Tomas Project, identifying Indicated and Inferred resources of 561 Mt @ 0.37% CuEq and 549 Mt @ 0.34% CuEq respectively. The Project is located within 160 km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid pow...