Oroco Announces Appointment of Director
Oroco Announces Appointment of Director
VANCOUVER, BC
,
July 14, 2020
/CNW/ - Oroco Resource Corp. (TSX-V: OCO) ("
Oroco
" or "
the
Company
") announces the appointment of
Ian W. Rice
of
London, England
to its Board of Directors.
Mr. Rice joined the Company in March of this year as its Senior Business Advisor and is a well-known
international entrepreneur with a career focus on the mining and renewable energy sectors. His
considerable knowledge of the capital markets has directly contributed to the success of numerous
early-stage public and private companies. In order to accommodate this appointment,
Steve Vanry
,
the Company's CFO, has relinquished his seat on the board. Mr. Vanry will remain an officer of
Oroco in his continued capacity as its Chief Financial Officer.
"We are pleased to be able to expedite the appointment of
Ian Rice
to Oroco's Board of Directors at
this important time in our development" stated Oroco's CEO,
Craig Dalziel
. "With the current
limitation on the number of board seats, which could not be altered without a general meeting of the
shareholders,
Steve Vanry's
cooperative step will allow Mr. Rice to more formally represent the
Company in its financing initiatives while retaining the benefit of Mr. Vanry's valuable input. We are
therefore very pleased to be able to expand our expertise at the senior management level."
ABOUT OROCO:
The Company holds a net 61.4% interest in the collective 1,172.9 ha core concessions of the Santo
Tomas Project in
NW Mexico
, and may increase that majority interest up to an 81.0% interest with a
project investment of up to
CAD$30 million
. The Company also holds a 77.5% interest in 7,807.9 ha
of mineral concessions surrounding and adjacent to the core concessions (a total project size of
8,980.8 ha). 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 drill and reverse
circulation drill holes, totaling approximately 30,000 meters. Based on data generated by these drill
programs, a Prefeasibility Study was completed by Bateman Engineering Inc. in 1994.
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. The
reader is directed to the Company's August, 2019 Technical Report filed on SEDAR, as amended.
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. Readers are also
cautioned that this news release includes reference to certain historical reports and studies
that are cited in the Report.
Cautionary Note Regarding Forward Looking Information
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http://www.prnewswire.com/news-releases/oroco-announces-appointment-of-director-301093000.html
SOURCE
Oroco Resource Corp.
View original content:
http://www.newswire.ca/en/releases/archive/July2020/14/c3972.html
%SEDAR: 00026117E
For further information:
please contact: Mr. Craig Dalziel, CEO, Oroco Resource Corp., Tel: 604-
688-6200, www.orocoresourcecorp.com
CO: Oroco Resource Corp.
CNW 08:00e 14-JUL-20