Oroco Drills 187.9 M of 0.58% Cu Equivalent at Santo Tomas
February 2, 2023 NEWS RELEASE
OROCO DRILLS 187.9 M OF 0.58% CU EQUIVALENT AT SANTO TOMAS
VANCOUVER, British Columbia – ( February 2, 2023) Oroco Resource Corp. (TSX -V: OCO, OTC:
ORRCF) (“Oroco” or “the Company”) announces assay results from drill holes S004 through S018
(8,547 m of drilling) of its South Zone drilling program at its Santo Tomas property (the
“Property”) located in northweste rn Mexico (see Table 1 , Figure 3 and the South Zone cross -
sections, attached). To view an interactive 3D model that includes the South Zone results
announced today, please use the following link: https://vrify.com or visit Oroco's website:
www.orocoresourcecorp.com.
DRILL RESULT HIGHLIGHTS:
• Drill hole S004 (Plate SZ-47) returned 127.0 m of 0.41% CuEq
• Drill hole S015 (Plate SZ-44), returned 179.2 m of 0.45% CuEq
• Drill hole S016 (Plate SZ-43), returned 349.1 m of 0.40% CuEq
• Drill hole S018 (Plate SZ-44-A), returned 187.9 m of 0.58% CuEq and 234.3 m of 0.40% CuEq
• South Zone strike length spans two kilometers.
Richard Lock, Oroco’s CEO, commented: “We are extremely encouraged by our current drilling
results. They are beginning to confirm the mineralization which was indicated by the historical
drilling in the South Zone, therefore adding to the impressive results from our North Zone drilling
program. We anticipate that these results will come together very positively in support of our
Preliminary Economic Assessment, which is expected in the second quarter of 2023.”
SOUTH ZONE PROGRAM
The Company has now completed a 21-hole South Zone drill program ( 12,154 m) designed to
confirm and test the South Zone mineralized structures , with the assay results up to drill hole
N018 now being reported, and those of holes S019 through S021 currently pending.
All drill holes tested the deposit approximately perpendicular to its structural attitude. Core
intervals are within approximately 10% of true thickness. Assay results and cross -sections of all
South Zone, North Zone and Brasiles Zone drill holes released to date are available at the
Company’s website.
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 2,000 m of
strike length in the South Zone.
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
The South Zone is only partly tested by the current drill program. However, the historical drilling
and the 202 2-2023 drill program conclusively define a NNW to NNE trending zone of faulting,
Laramide-age intrusion, hydrothermal breccias and mineralization along the entire two kilometer
corridor south of drill hole N034 of the North Zone.
• The northern segment of the South Zone , between drill holes N034 and S012, representing
a 500 m long undrilled corridor, will be tested in a future drilling program.
• The middle segment of the South Zone extends from drill hole S012 southward to hole S007
(Plates SZ -49 to SZ -63). Current drilling demonstrates a zone of moderate -grade, shallow-
seated mineralization to a depth of 200 to 400 m below surface along a strike length of
approximately 700 m. Continuity in this area must be confirmed by additional drilling.
• The southern segment of the South Zone extends southward from drill hole S00 7 along a
strike length of approximately 800 m. Drill holes S004 to S017 (Plates SZ -47 to SZ -38),
including the previously released S003 (277.4 m of 0.39% CuEq) and S004 (127.0 m of 0.41%
CuEq), demonstrate continuity of good grade mineralization within a southwest plunging
zone 300 m in width, extending from surface to 200-400 m in depth. As these drill holes test
an area of the South Zone that begins within and extends beyond the historical resource, they
have the potential to add significant tonnage to the mineral resource estimate being
prepared in support of the planned Preliminary Economic Assessment.
DRILLING RESULTS – MIDDLE SEGMENT OF THE SOUTH ZONE
• Drill hole S005 (Plate SZ-51), collared on the west side of the higher chargeability anomaly,
returned 54.2 m of 0.28% CuEq.
• Drill hole S006 (Plate SZ-56), returned one of the best near surface drill holes in the South
Zone to date with 146.6 m of 0.43 CuEq commencing within 20 m of surface.
• Drill hole S007 (Plate SZ-49), collared on the eastern fringe of a cha rgeability anomaly
returned only marginal mineralization.
• Drill holes S008 and S010 (Plate SZ-52), returned only marginal intervals of mineralization.
• Drill hole S009 (Plate SZ-58), returned only two short intervals of good grade mineralization:
23.2 m of 0.39% CuEq and 24.3 m of 0.32% CuEq, but appears to correlate well with S006 to
the south and S012 to the north.
• Drill hole S011 and S013 (Plate SZ-54), intersected only marginal intervals of mineralization.
• Drill hole S012 (Plate SZ-63), returned three mineralized intervals, with the main interval
being 82.0 m of 0.42% CuEq. This intersection remains open to the north into the gap of
drilling between the North and South Zones.
DRILLING RESULTS – SOUTHERN SEGMENT OF THE SOUTH ZONE
• Drill hole S004 (Plate SZ -47), returned three mineralized intervals, with a main interval of
127.0 m of 0.41% CuEq.
• Drill hole S014 (Plate SZ-41), collared approximately 120 m south of S003, cut and confirmed
STE-54 while extending mineralization a further 200 m to depth (with the best grades found
at depth). S014 returned three mineralized intervals: 44.0 m of 0.32% CuEq, 146 m of 0.28%
CuEq, and 66.0 m of 0.34% CuEq.
• Drill hole S015 (Plate SZ -44), returned three mineralized intervals, with the main interval
being 179.2 m of 0.45% CuEq.
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
• Drill hole S016 (Plate SZ-43), returned three mineralized intervals, with a significant main
interval of 349.1 m of 0.40% CuEq.
• Drill hole S017 (Plate SZ-38), returned one main mineralized interval of 142.0 m of 0.27%
CuEq.
• Drill hole S018 (Plate SZ -44-A), returned three mineralized intervals , of which the most
significant are 187.9 m of 0.58% CuEq and 234.3 m of 0.40% CuEq.
The southern segment of the South Zone has a contrasting geology to the North Zone. The North
Zone is a body of sheeted, west-dipping Laramide-age intrusive dikes and mineralization. Drilling
of the southern segment has intersected similar west-dipping intrusions and mineralization but
also cut a slightly younger overprinting of mineralized hydrothermal breccia bodies and a wide
body of stockwork vein and fracture mineralization. Grades are comparable to North Zone and
locally extend over wider intervals than seen in the North Zone to date.
Table 1: Significant Assay Intervals in the 2021-2023 Program, Drill Holes S004 to S018:
Drill
Hole
No.
Dip From
(m)
To
(m)
Length
(m) Cu % Mo % Au g/t Ag
g/t* CuEq %
S004 -55 64.0 84.3 20.3 0.26 0.003 0.041 2.01 0.30
" -55 107.0 130.0 23.0 0.30 0.002 0.036 3.39 0.33
" -55 167.0 294.0 127.0 0.37 0.002 0.049 2.09 0.41
S005 -55 201.6 255.8 54.2 0.25 0.006 0.015 1.48 0.28
S006 -55 35.5 182.1 146.6 0.37 0.002 0.073 2.89 0.43
S007 -55 135.0 200.0 65.0 0.14 0.003 0.010 1.88 0.16
S008 -55 186.0 230.0 44.0 0.22 0.013 0.018 2.16 0.28
S009 -55 47.7 119.0 71.3 0.14 0.001 0.026 1.15 0.17
" -55 148.9 172.1 23.2 0.32 0.002 0.079 1.72 0.39
" -55 180.0 204.3 24.3 0.28 0.001 0.041 1.82 0.32
S012 -55 157.0 239.0 82.0 0.37 0.004 0.032 3.25 0.41
" -55 241.0 264.1 23.1 0.22 0.004 0.008 1.75 0.24
" -55 272.1 314.0 41.9 0.19 0.002 0.006 1.75 0.20
S013 -55 37.0 103.0 66.0 0.23 0.002 0.041 2.97 0.27
S014 -55 116.0 160.0 44.0 0.29 0.006 0.014 2.71 0.32
" -55 166.0 312.0 146.0 0.24 0.008 0.014 1.89 0.28
" -55 318.0 384.0 66.0 0.26 0.018 0.009 1.63 0.34
S015 -55 10.0 57.0 47.0 0.35 0.008 0.018 1.84 0.40
" -55 78.4 257.6 179.2 0.36 0.020 0.022 1.92 0.45
" -55 259.4 275.0 15.6 0.23 0.11 0.008 1.69 0.28
S016 -80 88.0 437.1 349.1 0.36 0.006 0.027 2.34 0.40
S017 -55 187.0 329.0 142.0 0.21 0.12 0.15 1.38 0.27
S018 -35 6.7 42.0 35.3 0.27 0.009 0.010 1.89 0.31
-35 64.1 252.0 187.9 0.51 0.012 0.038 2.49 0.58
-35 260.0 494.3 234.3 0.34 0.012 0.017 1.66 0.40
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
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.
NORTH ZONE PROGRAM
The Company is continuing its horizontal drilling from the base of the Santo Tomas ridge testing
the southern 400 m o f the North Zone , south of hole N038, to depths of 300 to 500 m below
surface. This previously untested area of the North Zone also has the potential to add significant
tonnage to the resource estimate being prepared in support of the planned Preliminary Economic
Assessment.
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
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, f or sample preparation to pulps. Sample pulps are then sent to
ALS Canada Ltd. in Vancouver, 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 an d 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. 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
OROCO RESOURCE CORP.
1201-1166 Alberni Street, Vancouver, BC V6E 3Z3
T: 604.688.6200 F: 604.688.6260
www.orocoresourcecorp.com
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) 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
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.