OROCO ISSUES CORRECTION OF DRILL RESULTS FOR DRILL HOLE N044 - UPDATED
April 25 2023 - 12:45PM
Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or “the
Company”) announces a correction to the assay results from
drill hole N044 of its North Zone drilling program at its Santo
Tomas property (the “
Property”) announced on April 20,
2023. A data transfer error occurred in the transfer from one
system to another in the calculations conducted by a third-party
consulting firm (see Table 1, below).
CORRECTED HOLE N044 DRILL RESULT – % COPPER
EQUIVALENT (% CuEq)
Table 1: Significant Assay Intervals in the
2021-2023 Program, Drill Hole N044:
Drill
HoleNo. |
Dip |
From(m) |
To(m) |
Length(m) |
Cu
% |
Mo
% |
Au
g/t |
Ag
g/t* |
CuEQ
% |
PreviousN044 |
0 |
289.6 |
642.0 |
352.5 |
0.83 |
0.011 |
0.072 |
6.26 |
0.93 |
CorrectedN044 |
0 |
289.6 |
642.0 |
352.5 |
0.42 |
0.006 |
0.036(typo corrected) |
3.13 |
0.46 |
- Cu Equivalent (CuEq) % = Cu % + (Mo %*3.75) + (Au
ppm*0.752). The commodity prices (3 yr Average) used
are in $US: Cu $3.20 /lb, Mo $12.00 /lb, and Au $1,650.00 /troy
oz. Ag values are not used in the CuEq calculations.
Richard Lock, Oroco’s CEO, commented: “Drill
hole N044 remains the best drill hole of the 2021-2023 Santo Tomas
drill program and is consistent with prior North Zone drill
results. This data correction in no way dampens our
enthusiasm for the overall results we have received in our recently
completed drill program. We look forward to presenting those
results in our upcoming mineral resource estimate.”
This correction does not affect any other
information in the April 20, 2023 news release or any previous news
release.
QUALIFIED PERSON
Mr. Andrew Ware-SME-RM, a “Qualified Person”
(Registered Member of the SME) and a senior consulting geologist to
the Company, has reviewed and approved the technical disclosures in
this news release.
ABOUT OROCO
The Company holds a net 85.5% interest in the
collective 1,172.9 ha Core Concessions of the Santo Tomas Project
in NW Mexico. The Company also holds an 80% interest in
8,154.3 ha of mineral concessions surrounding and adjacent to the
Core Concessions (for a total project area of 23,048 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 northeast. 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, totalling 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 Company has completed its 2021-2023 drill program
at Santo Tomas with a total of 48,481 meters drilled in 76 diamond
drill holes to date.
The Santo Tomas 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
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.
For further information, please contact:Richard
Lock, CEOOroco Resource Corp. Tel: 604-688-6200 Email:
info@orocoresourcecorp.comwww.orocoresourcecorp.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Information
This news release may include 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.
Christy Fabros
Oroco Resource Corp.
(604) 688-6200
cfabros@orocoresourcecorp.com
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