Papago 17 Mineral Concession Granted
Papago 17 Mineral Concession Granted
VANCOUVER
,
Aug. 8, 2018
/CNW/ - Oroco Resource Corp. (
TSX-V: OCO
) (
OTC: ORRCF
)
("
Oroco
" or "
the Company
") is pleased to announce that the Papago 17 mineral concession, which
hosts the southern extension of the
Santo Tomas
mineralization zone in
Sinaloa, Mexico
, has been
formally granted to
Ubaldo Trevizo Ledezma
("
Trevizo
") of
Choix
, Sinaloa. Further to the
Company's news release of
February 23, 2018
, the Company, through its wholly-owned subsidiary,
Minera Xochipala, S.A. de C.V., acquired from Trevizo a 77.5% interest in the application for the
Papago 17 mineral concession, subject to a two percent net smelter royalty. Now that the
concession has been granted, the Company will register its interest in the Mexican Public Registry of
Mining.
The Papago 17 concession comprises approximately 213 hectares. Historic drilling indicates
that a well-mineralized zone of quartz monzonite dikes and hornfelsed andesite of the
established Santo Tomás mineralization zone passes southward onto the Papago 17
concession. The Santo Tomás mineralization zone is mapped on surface and drill tested
along a strike length of 4 km on the Santo Tomás and Papago 17 concession areas. The
Santo Tomas
and Papago 17 reference map can be found at:
http://orocoresourcecorp.com/portfolio/santo-tomas-porphyry-copper/
Commenting on the Papago 17 concession grant, Oroco President
Craig Dalziel
stated "We
are very pleased that we have been able to realize the granting of the Papago 17 concession,
which is so important to our land assembly initiatives in the
Santo Tomas
area. The Papago
17 concession hosts the most likely opportunity to increase the known area of the
Santo
Tomas
mineralization zone, gives Oroco a certain foothold in the overall
Santo Tomas
project, and provides Oroco with an immediate exploration target while we work to resolve
the title issues on the core concessions."
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.
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. Except as required by law, 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/August2018/08/c2689.html
%SEDAR: 00026117E
For further information:
please contact: Mr. Craig Dalziel, President and CEO, Oroco Resource
Corp.
CO: Oroco Resource Corp.
CNW 10:17e 08-AUG-18