Oroco Continues North Zone Success
January 11, 2023 NEWS RELEASE
OROCO CONTINUES NORTH ZONE SUCCESS
VANCOUVER, British Columbia – (January 11, 2023) Oroco Resource Corp. (TSX -V: OCO, OTC:
ORRCF) (“Oroco” or “the Company”) announces further assay results from the North Zone drilling
program at its Santo Tomas project (the “Property”) located in northwestern Mexico. Holes N039
to N043 totalle d 2,668 m of drilling which demonstrated continuity of good grade mineralization,
including 135 m of 0.60 CuEq (see Table 1 and Figure 1 attached). The strike length of the North
Zone now spans approximately 1,600 m. To view an interactive 3D model that in cludes the North
Zone results announced today, use the following link : h ttps://vrify.com or visit Oroco's website:
www.orocoresourcecorp.com.
Richard Lock, Oroco’s CEO, commented: “ We are very pleased with the results of the first 43 drill
holes of our 2021- 2022 North Zone drill program . T hey have confirmed and expanded the higher-
grade, near-surface mineralization amenable to early -year open-pit mining. We are also looking
forward to the results of the horizontal drill program currently being conducted in the previously
untested southwest area of the North Zone as it has the potential to significantly add to the mineral
resource estimate in support of our upcoming Preliminary Economic Assessment.”
HIGHLIGHTS
• Drill hole N039, drilled approximately 200 m downdip from N001 (255 m of 0.39% CuEq) and
200 m up dip from N029 (106.1 m of 0.31 CuEq) demonstrates the continuity of good grade
mineralization in the North Zone at plate 59, confirming and expanding the Cu >0.30%
Gradeshell model (the “Gradeshell”) defined in the Company’s 2019 Technical Report.
• Drill hole N040 returned one of the deepest intersections of copper in the North Zone as it
intersected a downdip extension of the North Zone to 200 m below sea level, demonstrating
that mineralization extends 700 m downdip from surface while still being open downdip and
to the west.
• Drill holes N041, N042 and N043 continued testing the southern end of the North Zone as
the Company continued its efforts to confirm shallow -seated higher-grade mineralization at
the southern end of the North Zone and to define its southern extent.
o Drill hole N041, collared at plate 40 , was drilled downdip of N032 (88.7 m of 0.34%
CuEq), confirms the Gradeshell while defining the southern limit of the North Zone.
o Drill hole N0 42, collared at Plate 44, 200 m north of drill hole N041, returned
mineralization that is both broader and of higher grade than predicted by the
Gradeshell.
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
o Drill hole N043, collared at plate 38, intersected only minor mineralization as it
intersected a steeply dipping east-west fault that defines the southern extent of the
North Zone.
DRILLING RESULTS
All drill holes tested the deposit perpendicular to its structural attitude. Core intervals are within
approximately 10% of true thickness . Assay results and cross -sections through the first forty -three
North Zone drill holes ( 21,379 m of drilling), the first seven Brasiles Zone drill holes (5,116 m) and
the first three South Zone drill holes (2,054 m) are available at the Company’s website.
North Zone Deposit to the West Side of the Ridge
Drill holes N039 and N040 continued the Company’s testing of the hanging wall side of the deposit
in the north-west side of the central axis of the deposit.
Drill hole N039 (Plate 59) returned three mineralized intervals, with a main interval of 265.0 m of
0.36% CuEq commencing approximately 40 m above the Gradeshell and extending 50 m below it.
Drill hole N040 (Plate 65) returned four mineralized intervals, with a main interval of 152.1 m of
0.33 CuEq in a downdip extension approximately 200 m to the west of the Gradeshell.
Defining the Southern Extent of the Central Axis of the North Zone
The southern portion of the North Zone is blind to surface and beneath a blanket of post -
mineralization volcanic rock. Modelling of the historical results and structural analysis has
successfully delineated the North Zone 400 m south from drill hole N020 to the limit of the zone at
drill hole N043.
The North Zone program now has confirmed good-grade mineralization in a gently north -plunging
panel beneath the Santo Tomas ridge, extending 1,600 meters along strike , to 400 m and 800 m
downdip below surface. .
Drill hole N0 42 (Plate 44) returned 135.0 m of 0. 60% CuEq extending across and below the
Gradeshell.
Drill hole N0 41 (Plate 40), collared approximately 200 m south of N042, continued the
confirmation of the Gradeshell with two mineralized intervals, with the first interval returning 20 m
of 0.35 CuEq, and the second main interval commencing 5 m deeper returning 96 m of 0.52 CuEq.
Drill hole N0 43 (Plate 38), collared approximately 100 m south of N041, returned three minor
intervals of mineralization . N043 intersects the faults that are the south termination of the North
Zone.
Table 1: Significant Assay Intervals in the 2021-2022 Program, Drill Holes N039 to N043:
Drill
Hole
No.
Dip From
(m)
To
(m)
Length
(m) Cu % Mo % Au g/t Ag
g/t* CuEQ %
N039 -55 230.2 288.2 58.0 0.14 0.002 0.010 1.09 0.15
" -55 313.3 334.7 21.4 0.46 0.005 0.016 3.70 0.49
" -55 355.0 620.0 265.0 0.31 0.010 0.020 2.18 0.36
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
N040 -85 431.0 472.0 41.0 0.21 0.007 0.012 1.70 0.24
" -85 479.0 631.1 152.1 0.29 0.009 0.013 2.61 0.33
N041 -90 224.0 244.6 20.6 0.30 0.002 0.063 1.45 0.35
" -90 249.0 345.0 96.0 0.47 0.006 0.038 2.48 0.52
N042 -55 254.0 389.0 135.0 0.53 0.005 0.075 2.99 0.60
N043 -55 330.9 356.0 25.1 0.21 0.002 0.023 1.86 0.23
Cu Equivalent (CuEq) % = Cu % + (Mo %*3.75) + (Au ppm*0.752). The commodity prices (3 -year
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.
BALANCE OF THE NORTH ZONE PROGRAM
The Company’s has largely completed its North Zone drill program in support of the planned
Preliminary Economic Feasibility Study . The balance of the program focusse s on horizontal drilling
from the base of the Santo Tomas ridge. Horizontal holes and shallow dipping holes will allow
testing of the southern 400 m o f the North Zone, at depths 300 to 500 m below surface , to the
south of hole N038 (plate 49) (see Figure 1 attached). This area of the North Zone has the potential
to add significant tonnage to the resource estimate being prepared in support of the planned
Preliminary Economic Assessment.
SOUTH ZONE PROGRAM
The Company’s South Zone program has now drilled 19 holes (11,069 m) in its program to confirm
and test the South Zone deposit, with the assay results of holes S004 through S019 pending.
Historical drilling, surface geological mapping, and the Dias Geo 3D Induced Polarization survey
have defined near -surface mineralization projected to 400 m below the surface along 2,500 m of
strike length.
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 i n the current Technical Report. Additional drill collar verifications
were performed in the current program, and collar locations fit closely to the 2021/2022 survey
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 V ancouver, Canada, for analysis. Total copper 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. Paul McGuigan, P. Geo., of Cambria Geosciences Inc., a “Qualified Person” (as defined in NI 43 -
101 -Standards for Disclosure for Mineral Projects ) and a senior consulting geoscientist 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.
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
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 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, CEO
Oroco Resource Corp.
Tel: 604-688-6200
Email: [email protected]
www.orocoresourcecorp.com
Neither TSX Venture Exchange nor its Regulation Service s 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 C anadian
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 updat e the forward -looking statements should they change, except as required by
law.