Oroco Resources Corp

Published : December 08th, 2011

ANNOUNCES START OF DRILLING PROGRAMOROCO ANNOUNCES START OF DRILLING PROGRAM

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Keywords :   Canada | Diamond | G Mexico | Gold | K Street | Mexico |

OROCO ANNOUNCES START OF DRILLING PROGRAM

VANCOUVER, British Columbia – (December 8, 2011) Oroco Resource Corp. (TSX-V: OCO) (�Oroco� or �the Company�) is pleased to announce the commencement of an exploration and condemnation drilling program on its Cerro Prieto Property located in Sonora State, Mexico.

The drill program will include a minimum of 15 Diamond drill holes that are intended to extend the Cerro Prieto deposit to the south of its previously drill defined limits. Surface sampling has indicated that the mineralized shear zone hosting the deposit extends for at least 500 meters south of the limits of the resource reported in the Preliminary Economic Assessment of Cerro Prieto (See News Release, December 15, 2010). These holes will be drilled to test to a maximum of 100 meters below the anomalous assays received from surface sampling. Highlights of the surface sampling results (previously announced on March 7, 2011) include:

  • 4.79 g/t Au and 21.0 g/t Ag over 5.2 m at line 150 N
  • 4.08 g/t Au and 36.2 g/t Ag over 9.8 m and 7.4 g/t Au and 63.5 g/t Ag at line 100 N
  • 2.36 g/t Au and 28.0 g/t Ag over 4.7 meters at line 150 S
  • 1.78 g/t Au and 250.0 g/t Ag over 1.2 m at line 220 S
  • 4.64 g/t Au and 53.3 g/t Ag over 5.5 m at line 272 S
  • 2.49 g/t Au and 93.0 g/t Ag over 8.0 m at line 300 S

The Company conducted the surface sampling program from 150 N, being the southern edge of the Current Resource Area, along approximately 500 meters of strike extension to line 350 S.  It is important to note that the samples were taken only where the mineralized zone was exposed and no attempt was made to extend the exposures.

An additional three holes, considered condemnation holes, will be drilled at the planned sites for the leach pad and the crushing facility. The total program will consist of 2,000 meters of drilling. 

Oroco also announces the grant, pursuant to the Company's Stock Option Plan and subject to approval by the TSX Venture Exchange, of a total of 750,000 incentive stock options to officers and consultants at an exercise price of $0.30 per share with a term of five years.

In addition, the Company reports that the $250,000 loan made to a non-arm�s length entity (see News Release, May 19, 2011) has been repaid with interest.

Qualified Person
Kenneth R. Thorsen, B.Sc., P. Geo., is a director of the company and is a 'qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators.  He has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this news release.

About Oroco
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Project in northern Sonora State, Mexico.   The Cerro Prieto Project consists of a group of 100% owned contiguous concessions totaling approximately 7,000 ha in size.

For further information, please contact:
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200

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.


Oroco Resource Corp.
789-999 West Hastings Street | Vancouver | B.C. | V6C 2W2 | Canada
Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Oroco Resources Corp

EXPLORATION STAGE
CODE : OCO.V
ISIN : CA6870331007
CUSIP : 687033 10 0
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Oroco Resources is a zinc and lead development stage company based in Canada.

Its main exploration properties are XOCHIPALA and CERRO PRIETO in Mexico.

Oroco Resources is listed in Canada. Its market capitalisation is CA$ 20.3 millions as of today (US$ 14.5 millions, € 13.7 millions).

Its stock quote reached its lowest recent point on January 01, 2016 at CA$ 0.01, and its highest recent level on June 25, 2021 at CA$ 3.66.

Oroco Resources has 77 947 405 shares outstanding.

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Annual reports of Oroco Resources Corp
2007 Annual Report
Financings of Oroco Resources Corp
2/5/2013CLOSES $1 MILLION NON-BROKERED PRIVATE PLACEMENT
9/11/2012Applies to Extend Term of Warrants
6/9/2011Announces Exercise of Warrants
5/25/2009RESOURCE CORP. ANNOUNCES PRIVATE PLACEMENT
Nominations of Oroco Resources Corp
4/27/2010Appointment of Chief Consulting Engineer
Project news of Oroco Resources Corp
1/27/2014(Cerro Prieto)REPORTS INITIAL PRODUCTION AT CERRO PRIETO
10/22/2012(Xochipala)Resource Corp.: Xochipala Amparo Filed
9/21/2012(Xochipala)Announces Commencement of Exploration at its Xochipala Proje...
5/14/2012(Cerro Prieto)REPORTS ON SOUTH EXTENSION DRILLING AT CERRO PRIETO
4/20/2012(Cerro Prieto)ANNOUNCES CERRO PRIETO DRILL RESULTS
1/17/2012(Cerro Prieto)ADDS TO CERRO PRIETO PROJECT
12/8/2011ANNOUNCES START OF DRILLING PROGRAMOROCO ANNOUNCES START OF ...
5/18/2011(Cerro Prieto)Secures Surface Rights for Cerro Prieto Project
1/12/2010(Cerro Prieto)Multiple High Grade Gold Drill Intercepts at Cerro Prieto.
9/30/2009(Cerro Prieto)New and Updated Drill Intercepts
9/17/2009(Cerro Prieto)Second Phase Drilling Verifies 2.0 Kilometer Mineralized Str...
8/11/2009(Cerro Prieto)High Grade Gold Sampled on Additional 900 Meter Strike Lengt...
7/21/2009(Cerro Prieto)Commences Phase Two Drilling at Cerro Prieto
5/14/2009(Cerro Prieto)Signs Property Option Agreement With Yamana Gold
1/27/2009(Cerro Prieto)REPORTS A 25.3 MILLION TONNE INDICATED RESOURCE AND 4.69 MI...
11/28/2008(Cerro Prieto)SURFACE SAMPLING EXTENDS MINERALIZED ZONE AT CERRO PRIETO AL...
9/18/2008(Cerro Prieto)COPPER AND MOLYBDENUM IN ADDITION TO AU-AG-PB-ZN MINERALIZAT...
7/31/2008(Cerro Prieto)Continues its Drilling Success
6/16/2008(Cerro Prieto)Intersects 0.214 g/t Au, 361.8 g/t Ag, 2.40% Pb And 4.76% Zn...
5/21/2008(Cerro Prieto)Initial Drill Holes Intersect Mineralized Structure at Cerro...
4/30/2008(Cerro Prieto)ANNOUNCES FIRST SAMPLING RESULTS FROM CERRO PRIETO NORTH PRO...
Corporate news of Oroco Resources Corp
12/17/2015December 15, 2015 OROCO SETTLES SONORAN LAWSUIT
12/17/2015Oroco Settles Sonoran Lawsuit
11/19/2015Oroco Agrees to Extension of Closing Date
9/29/2015September 28, 2015 OROCO NEGOTIATES PAYMENT OF GOLDGROUP MIN...
9/29/2015Oroco Negotiates Payment of Goldgroup Mining Inc. Notes
9/18/2015September 16, 2015 GOLDGROUP FAILS TO MAKE PAYMENT TO OROCO
9/17/2015Goldgroup Fails to Make Payment to Oroco
9/16/2015August 28, 2015 OROCO RECEIVES 16.5 MILLION SHARES OF GOLDGR...
8/29/2015Oroco Receives 16.5 Million Shares of Goldgroup Mining Inc.
10/2/2014Debt Assignment Agreement Closes
9/23/2014Oroco Enters Into Agreements With Goldgroup
3/31/2014Sonoran Resources LLC. Commences Legal Action
2/7/2014(Xochipala)WINS XOCHIPALA APPEAL
9/3/2013(Cerro Prieto)Announces Completion of the Sale of Cerro Prieto
8/16/2013(Cerro Prieto)and Goldgroup Extend the Closing Date for the Cerro Prieto T...
7/16/2013(Cerro Prieto)and Goldgroup Agree to an Extension of the Closing Date for ...
6/29/2013Receives Demand for Payment
6/25/2013(Cerro Prieto)Obtains Approval for Sale of Cerro Prieto to Goldgroup
6/4/2013Resource Corp.: Amparo Decision Handed Down
4/29/2013Announces Special General Meeting Date
4/10/2013(Cerro Prieto)and Goldgroup Sign Formal Sale Agreement for Cerro Prieto
1/28/2013(Cerro Prieto)SIGNS AGREEMENT TO SELL CERRO PRIETO FOR US $18 MILLION
1/28/2013(Cerro Prieto)Signs Agreement to Sell Cerro Prieto
11/9/2012(Xochipala)Increases Strike Length at Xochipala
6/27/2011(Cerro Prieto)Signs Definitive Cerro Prieto Surface Rights Agreement
6/17/2011(Cerro Prieto)Signs Indicative Term Sheet for Cerro Prieto Construction Fi...
3/15/2011Resource Corp. Announces Closing of Private Placement
3/7/2011Extends Mineralized Zone at Cerro Proeto
10/6/2009Initiation Of Phase Two Metallurgical Tests
6/25/2009Resource Compressed Timeline to Production
6/4/2009Invite for dissemination
5/13/2009General research GMBH to provide european investor...
3/8/2009ANDERSON FINANCIAL MARKETING to provide investor relations ...
11/4/2008Announces Senior Management Assignments
10/2/2008RESOURCE CORP. ADOPTS SHAREHOLDER RIGHTS PLAN
9/9/2008Announces 425 Meter Stepout to Mineralized Zone
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