Oroco Resource Corp. [OCO-TSXV; ORRCF-OTC] reported assay results from drill holes S004 through S018 (8,547 metres of drilling) of its South zone drilling program at its Santo Tomas property, located in northwestern Mexico.
Highlights include drill hole S004 (Plate SZ-47) returned 127.0 metres of 0.41% CuEq (copper equivalent). Drill hole S015 (Plate SZ-44), returned 179.2 metres of 0.45% CuEq. Drill hole S016 (Plate SZ-43), returned 349.1 metres of 0.40% CuEq.
Drill hole S018 (Plate SZ-44-A), returned 187.9 metres of 0.58% CuEq and 234.3 metres of 0.40% CuEq. The South Zone strike length spans 2 km.
Richard Lock, 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.”
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 metres below the surface along 2,000 metres of strike length in the South Zone. The South Zone is only partly tested by the current drill program.
The company is continuing its horizontal drilling from the base of the Santo Tomas ridge testing the southern 400 metres of the North Zone, south of hole N038, to depths of 300 to 500 metres 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.
Oroco 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 property is reached by a 32-km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State.