Oroco Commences PEA and Mobilizes More Drills
September 20, 2022 NEWS RELEASE
OROCO COMMENCES PEA AND MOBILIZES MORE DRILLS
VANCOUVER, British Columbia – (Sept. 20, 2022) Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF)
(“Oroco” or “ the Company) is pleased to announce the commencement of a Preliminary Economic
Assessment (a “PEA” or the “Study”) for the North and South Zones of the Santo Tomas Project located in
NE Sinaloa, Mexico (“Santo Tomas”, or the “Project”).
The Company has appointed Ausenco Engineering USA South Inc. (“Ausenco”) to lead the Study, with SRK
Consulting (Canada) Inc. (“SRK”) to complete an updated Mineral Resource Estimate (“MRE”) and Mining
Plus Canada Consulting Ltd. (“MP”) to complete an open pit mine design. ALS Metallurgy has been selected
to undertake metallurgical testing. The PEA is expected to be completed by the beginning of Q2 2023.
Ausenco, as our Study lead, brings a wealth of recent experience from projects and studies in Mexico, such as
the SilverCrest Las Chispas EPC (Engineering, Procurement & Construction), Tarachi Gold’s Magistral
EPCM (Engineering, Procurement & Construction Management), and Discovery Silver’s Cordero PEA
projects, as well as a number of South American projects.
Richard Lock, CEO, commented: “The PEA and updated MRE will represent an important foundation for
the intended future sale of the Project. Assets of the quality and favourable location of the Project are
increasingly rare and we believe that the MRE and PEA will be a significant step in creating shareholder
value as we continue to advance the Project.”
Preliminary Economic Assessment
The scope of work to be undertaken by Ausenco, together with SRK and others, comprises two Phases:
Phase 1: Mine to Mill Optimization, incorporating project engineering and including geotechnical
assessment, metallurgical test work, off-site infrastructure, mine scheduling, and process plant
engineering. The objectives of this Phase are to optimize mining and processing parameters by
evaluating various business cases for the Project before proceeding to the PEA.
Phase 2: Preliminary Economic Assessment, incorporating cost estimation (capital and operating)
and financial analysis, which will cover all aspects of such studies, including mining and recovery
methods, project infrastructure, capital and operating costs and financial analysis.
The results of the Study will be compiled into an NI 43-101 Technical Report.
MOBILIZATION OF ADDITIONAL DRILL RIGS
In support of the MRE and the PEA, the Company has engaged Major Drilling de Mexico, SA. de C.V. to
mobilize two additional drill rigs to the Project, bringing to six the total number of drills conducting infill and
step-out drilling in the North Zone and South Zone.
ABOUT OROCO:
The Company holds a net 73.2% 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 85.5% interest with a project investment
of up to CAD$30 million. The Company also holds a 77.5% interest in 8,154.3 ha of mineral concessions
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BV V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
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 Santo Tomas Project is located within 160km 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, CEO
Oroco Resource Corp.
Tel: 604-688-6200
Email: [email protected]
www.orocoresourcecorp.com
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.