VANCOUVER, April 22, 2020 /CNW/ - Oroco Resource Corp.
(TSX-V: OCO) ("Oroco" or "the Company")
announces that it has filed on SEDAR a revised Technical Report
(the "Revised Report") on the core concessions of the Santo
Tomas Project.
The Revised Report, entitled "Geology, Mineralization, and
Exploration of the Santo Tomás Cu-(Mo-Au-Ag) Porphyry Deposit,",
authored by D.A. Bridge, P. Geol., has been filed in response to
comments from the British Columbia Securities Commission. Key
revisions focused on the format and cautionary parameters around
the disclosure of historical mineral resource estimates. There are
no material differences between the Revised Report and the original
report disclosed in the Company's news release of September 9, 2019.
A copy of the Revised Report can be found on the Company's
website at www.orocoresourcecorp.com or under the Company's profile
on SEDAR (www.sedar.com).
Mr. Paul McGuigan, P. Geo., of
Cambria Geosciences Inc., a Qualified Person under NI 43-101 and a
senior consulting geoscientist to the Company, has reviewed and
approved the technical disclosure in this news release.
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 (for a total
project area 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 and reverse
circulation drill holes, totaling 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 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.
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content:http://www.prnewswire.com/news-releases/oroco-files-revised-technical-report-301045563.html
SOURCE Oroco Resource Corp.