Oroco Intends to Amend Warrant Exercise Period
Oroco Intends to Amend Warrant Exercise
Period
VANCOUVER
,
April 15, 2020
/CNW/ - Oroco Resource Corp. (
TSX-V: OCO
) ("
Oroco
" or "
the
Company
") announces that it intends to apply to the TSX Venture for approval to amend the term of
1,805,000 outstanding share purchase warrants by extending the Exercise Period by three months
from
May 3, 2020
to
August 3, 2020
. The Company has not applied for any change to the exercise
price of
$0.32
per share.
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
22,192 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 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 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.
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.
SOURCE
Oroco Resource Corp.
View original content:
http://www.newswire.ca/en/releases/archive/April2020/15/c1263.html
%SEDAR: 00026117E
For further information:
Mr. Craig Dalziel, CEO, Oroco Resource Corp., Tel: 604-688-6200,
www.orocoresourcecorp.com
CO: Oroco Resource Corp.
CNW 08:00e 15-APR-20