Oroco Completes Phase One Drill Program at Santo Tomas
May 9, 2023 NEWS RELEASE
OROCO COMPLETES PHASE ONE DRILL PROGRAM AT SANTO TOMAS
VANCOUVER, British Columbia – (May 9, 2023) Oroco Resource Corp. (TSX-V: OCO, OTC:
ORRCF) (“Oroco” or “the Company”) announces the assay results from drill holes N046 and
N047 (see Table 1) of its North Zone drilling program at its Santo Tomas property (the
“Property”) located in northwestern Mexico (see Figure 1, attachedand on the Company’s
website). These holes (1,460 m of drilling) constitute the final drill holes of Oroco’s 2021-2023
program. To view an interactive 3D model that includes today’s results, please use the following
link: https://vrify.com or visit Oroco's website: www.orocoresourcecorp.com.
DRILL RESULT HIGHLIGHTS – % COPPER EQUIVALENT (% CuEQ)
• Drill hole N046 (Plate NZ-47-A) returned 228.5 m of 0.465% CuEQ
• Drill hole N047 (Plate NZ-49) returned 387.4 m of 0.498% CuEQ
Richard Lock, Oroco’s CEO, stated: “These results from the final two holes of our Phase One drill
program provide further evidence of the quality and magnitude of the deposit at Santo Tomas.
While these results were not included in our recent Mineral Resource Estimate, they will be
included in our upcoming Preliminary Economic Assessment.”
NORTH ZONE PROGRAM
The Company has now completed its North Zone drill program suppor�ng the pending
Preliminary Economic Feasibility study. The North Zone program comprises 47 diamond drill
holes and 30,909 m of drilling.
The southern por�on of the North Zone mineraliza�on is blind to the surface and lies beneath a
blanket of post-mineraliza�on volcanic rock. To test this area, the Company completed four
diamond drill holes with a modified underground drill rig. Horizontal and shallow-dipping holes
allowed tes�ng of the southern 400 m of the North Zone, at depths 300 to 500 m below the
surface, above and to the south of hole N038 (Plate NZ-49) (see Figure 1, atached).
Table 1: Significant Assay Intervals of Drill Holes N046 & N047:
Drill
Hole
No.
Dip From
(m)
To
(m)
Length
(m) Cu % Mo % Au g/t Ag g/t CuEQ1 %
N046 0 336.0 521.4 185.4 0.266 0.007 0.013 1.08 0.294
" 0 568.0 796.5 228.5 0.429 0.003 0.035 2.52 0.465
N047 0 203.6 591.0 387.4 0.452 0.004 0.043 3.00 0.498
" 0 593.0 632.0 39.0 0.259 0.007 0.012 1.68 0.290
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
1) CuEQ = ((Cu grade * Cu recovery * Cu price) + (Mo grade * Mo recovery * Mo price) + (Au
grade * Au recovery * Au price) + (Ag grade * Ag recovery * Ag price)) / (Cu price * Cu
recovery).
2) It is assumed that the Santo Tomas Project would produce a conventional (flotation) copper
concentrate based on metal recoveries of 84.3% Cu, 66% Mo, 57% Au, and 54% Ag derived
from recent preliminary metallurgical test-work.
3) The commodity prices used are in $US: Cu $3.80 /lb, Mo $12 /lb, Au $1,650 /troy oz and
Ag $22 /troy oz.
For comparison to the N046 and N047 results, the previously announced drill holes from this
southern por�on of the North Zone returned similar grades and widths:
• Drill hole N044 (Plate NZ-47) returned 352.5 m of 0.462% CuEQ
• Drill hole N045 (Plate NZ-47) returned 329.8 m of 0.494 % CuEQ
DRILL HOLE N046 – TESTS 250 M FURTHER SOUTH IN THE NORTH ZONE
Drill hole N046 was pivoted southward from the collar of N044 (Plate NZ-47) and ended 350 m
south in significant mineraliza�on. On average, N046 indicates that the mineraliza�on of
N044/N045 extends 250 m further southward at the 400 m eleva�on (about 300 m below the
Santo Tomas ridge). This area has few historical drill holes, and the Cu >0.30% Grade shell model
cited in the Company’s 2019 Technical Report appears to be over two �mes wider in this area.
These results demonstrate the southward and down dip con�nuity of the North Zone.
DRILL HOLE N047 – CONFIRMS THE HANGING WALL EXTENSION OF THE NORTH ZONE
Significantly, N047 intersected mineraliza�on only 100 m below the surface on the western flank
of the Santo Tomas ridge. N047 lies above a broad zone of mineraliza�on in Hole N038 and 100
m north of the beter than average grades of Holes N044 & N045.
Modelling and structural analysis of the historical results and the current drilling have
successfully delineated good-grade North Zone mineraliza�on in a gently north-plunging panel
beneath the Santo Tomas ridge, extending 1,600 meters along the strike and 400 to 800 m
downdip below the surface.
Results from N044 and N045, and now, from N046 and N047, indicate the exci�ng poten�al of
the southern segment of the North Zone at, and south of, Hole N038 (Plate NZ-49). Whereas the
North Zone averages about 300 m wide at grades above about 0.30 Cu, beginning at Plate NZ-49,
the average width on the level view is 400 m, double the modelled width of the sparse historical
drilling. These results, taken together, indicate the southern segment is the highest grade and
widest por�on of the North Zone deposit. Addi�onal drilling will be required to fully define this
area of the North Zone.
TECHNICAL INFORMATION AND QUALITY CONTROL / QUALITY ASSURANCE
The historical drilling data employed in this current exploration program was the subject of Data
Verification procedures cited in the current Technical Report. Additional drill collar verifications
were performed in the current program, and collar locations fit closely to the 2021/2022 survey
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
control. Appropriate QA/QC protocols governed geological logging, core sampling, sample
preparation, analyses, and security during the current program, including quality controls with
duplicates, standards, and blanks. Samples were submitted to the Mexican division of ALS
Limited in Hermosillo, Mexico, for sample preparation to pulps. Sample pulps are then sent to
ALS Canada Ltd. in Vancouver, Canada, for analysis. Total copper, silver and molybdenum
contents are determined by four-acid digestion with AAS finish. Gold was determined by fire
assay of a 50-gram charge, or alternately, of a 30-gram charge (1 Assay ton).
QUALIFIED PERSON
Mr. Andrew Ware, SME-Registered Member., a “Qualified Person” (as defined in NI 43-101 -
Standards for Disclosure for Mineral Projects) and a senior consulting geologist to the Company,
has reviewed and approved the technical disclosures in this news release. The Company strictly
adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting the
exploration activities on its projects.
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. 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. Based on the new drill-hole
information, Oroco released a Preliminary Resource Estimate as detailed in the May 3rd 2023
press release, available on the Company’s website and SEDAR.
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 can be reached in part 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) accept 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
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
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.