Oroco Resource Corp. Closes Oversubscribed Private Placement
Company Announcement
Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) has officially announced that its recent non-brokered private placement financing, referred to as the "Offering," has significantly exceeded expectations due to strong investor interest. As a result of this overwhelming demand, the company will not be accepting any further subscriptions and is preparing to close the Offering soon, pending the approval from regulatory authorities including the TSX Venture Exchange.
About Oroco and Its Projects
Oroco Resource Corp. possesses a substantial 85.5% stake in the core concessions of its mineral project located in northwestern Mexico. This project, known as The Santo Tomas Project, encompasses 1,173 hectares, which are known as the "Core Concessions." In addition, Oroco controls an 80% stake in surrounding mineral concessions that extend over 7,861 hectares. Overall, the total project area measures approximately 9,034 hectares, or 22,324 acres.
The Santo Tomas Project is situated in an area rich in natural resources, located within close proximity to the Jinchuan Group’s Bahuerachi Project, which lies around 14 kilometers to the northeast. Historical exploration efforts from 1968 to 1994 have identified significant copper porphyry mineralization within the project area, contributing to a rich legacy of mineral exploration.
Recent Developments
In 2021, Oroco initiated an extensive drilling program (Phase 1) in the Santo Tomas Project area. To date, the company has completed an impressive total of 48,481 meters drilled across 76 diamond drill holes, facilitating further exploration and assessment of the property’s mineral potential.
The findings from the drilling operations have prompted substantial resource estimates and engineering studies. A revised Mineral Resource Estimate (MRE) and an updated Preliminary Economic Assessment (PEA) were published, reflecting the ongoing progress and potential of the Santo Tomas Project. These documents detail the company's strategic planning and future potential, and are accessible on the company’s official website.
Access and Infrastructure
Strategically, the Santo Tomas Project benefits from its proximity to infrastructure critical for mining operations. The project site is located within 170 kilometers of the deep-water port at Topolobampo, with reliable access facilitated by highways and rail systems, along with essential utilities including natural gas and trunk power lines. Access to the property includes a dedicated 32-kilometer road originally constructed to support Goldcorp’s El Sauzal Mine.
Company Information
For additional details about Oroco Resource Corp., potential investors and interested parties can explore the company’s website for further insights into its operations and future plans. The profile is also available on SEDAR for public review.
Contact Information
For more direct inquiries, please reach out to:
Craig Dalziel, Chairman
Oroco Resource Corp.
Tel: 604-688-6200
Email: info@orocoresourcecorp.com
Website: www.orocoresourcecorp.com
Frequently Asked Questions
What is the primary reason for the oversubscription of Oroco's Offering?
The oversubscription is mainly attributed to strong investor demand, highlighting confidence in Oroco's projects and future potential.
How much area does the Santo Tomas Project cover?
The Santo Tomas Project covers a total area of approximately 9,034 hectares, encompassing both the Core Concessions and surrounding mineral concessions.
What are the recent exploration activities conducted by Oroco?
Oroco has implemented a drilling program, completing 48,481 meters across 76 diamond drill holes, which has yielded significant resource findings.
Where can investors find more information about Oroco Resource Corp.?
Investors can visit Oroco's official website or review their profile on SEDAR for more in-depth company information and updates.
What minerals are primarily explored at the Santo Tomas Project?
The Santo Tomas Project is primarily focused on exploring copper porphyry mineralization, which has been historically evidenced in the region.
