Oroco Announces Cerro Prieto Drill Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/19/12 -- Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company") is pleased to report the following results from the 2011 and 2012 expanded exploration drill program at its Cerro Prieto Project in northern Sonora State, Mexico.
The Company has drilled 20 holes as an infill program in the area containing the current resource. This was done to both better define the underground voids left by historical mining and to gain greater certainty of the resource grade in the area from which the Company anticipates the initial ore production. The 20 drill holes intersected only 5 voids of significance (greater than 1.5 meters), which is fewer than had been modeled, suggesting that less of the higher grade material has been removed by historical mining than was initially projected.
The Company has now received assays for 15 of the 20 holes, of which highlights include:
1. 4.0 meters of 11.26 g/t Au in CP087 including 3.39 meters of 13.25 g/t
Au.
2. 16.94 meters of 2.31 g/t Au in CP084 including 4.19 meters of 5.36 g/t
Au.
3. 8.05 meters of 4.17 g/t Au in CP077 including 3.35 meters of 8.08 g/t
Au.
4. 7.21 meters of 4.59 g/t Au in CP089 including 3.39 meters of 8.85 g/t
Au.
5. 7.11 meters of 3.85 g/t Au in CP083 including 4.62 meters of 5.32 g/t
Au.
Results of all 15 holes are presented in the following table:
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From To TT (i) Au Ag Pb Zn
Hole (m) (m) (m) (g/t) (g/t) (%) (%)
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SECTION 425N
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CP088 11.40 13.40 1.23 2.32 22.9 0.04 0.09
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incl 17.50 26.00 5.24 2.10 112.1 0.11 0.22
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and 18.40 25.20 4.19 2.57 126.7 0.13 0.24
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CP088A 11.50 14.00 1.54 0.45 11.7 0.05 0.11
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17.00 26.00 5.54 2.17 155.0 0.13 0.21
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18.60 24.00 3.33 3.34 236.3 0.19 0.30
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SECTION 450N
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CP087 17.50 24.00 4.00 11.26 7.0 0.04 0.16
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incl 17.50 23.00 3.39 13.25 7.6 0.04 0.14
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incl 19.00 22.00 1.85 19.70 9.6 0.03 0.15
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28.50 32.65 2.56 2.23 94.5 0.16 0.29
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SECTION 475N
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CP086 16.00 21.00 3.08 0.40 2.8 0.10 0.18
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24.00 32.00 4.93 2.59 8.4 0.09 0.08
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27.00 32.00 3.08 3.71 12.4 0.12 0.08
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32.00 34.50 1.54 void
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37.75 45.50 4.77 1.106 49.9 0.13 0.28
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CP089 42.30 54.00 7.21 4.59 17.1 0.53 2.05
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incl 43.80 49.30 3.39 8.85 14.9 0.60 2.97
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54.00 61.00 4.31 0.15 353.3 0.68 0.86
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57.95 65.00 4.34 0.27 182.4 0.18 0.38
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79.30 94.55 9.39 2.29 6.0 0.14 0.28
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incl 79.30 82.35 1.88 3.43 4.8 0.05 0.16
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and 91.00 94.55 2.19 6.15 9.5 0.17 0.40
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94.55 Hole abandoned at 4.31 m TT void
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SECTION 525N
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CP79 44.00 60.50 14.93 1.44 36.5 0.05 0.15
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incl 45.50 49.75 3.85 2.50 22.3 0.05 0.12
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64.50 73.00 7.69 1.97 44.5 0.31 1.69
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incl 66.00 71.50 2.26 2.89 67.7 0.35 2.49
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SECTION 550N
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CP080 41.25 44.00 2.49 0.69 27.5 0.06 0.18
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53.00 72.90 18.01 0.95 9.3 0.12 0.68
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incl 53.00 60.25 6.56 1.26 12.0 0.11 0.85
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77.40 87.90 9.50 1.61 3.6 0.04 0.09
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incl 80.40 83.40 2.72 4.63 2.7 0.02 0.07
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CP085 38.15 44.00 4.17 0.75 0.8 0.05 0.17
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137.45 151.25 9.84 0.35 328.7 0.78 2.61
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incl 141.70 146.80 3.64 0.26 818.5 1.23 4.86
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151.25 Hole abandoned at 11.23 m TT void
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SECTION 575N
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CP081 9.50 14.50 4.53 0.93 46.6 0.06 0.07
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incl 9.50 13.00 3.17 1.23 58.3 0.07 0.09
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17.00 27.75 9.73 0.35 49.8 0.07 0.09
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Hole lost in broken ground. Re-drilled as CP081B
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CP081B 10.00 14.60 4.16 1.65 76.1 0.09 0.06
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incl 11.00 13.10 1.90 2.94 128.5 0.12 0.08
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19.00 38.00 17.20 0.73 45.6 0.09 0.18
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incl 32.00 38.00 5.43 1.47 34.0 0.10 0.27
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-
42.00 44.50 2.26 2.35 59.1 0.21 0.51
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65.00 69.00 3.62 4.25 2.9 0.13 0.49
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CP083 53.50 62.50 5.54 0.35 13.1 0.11 0.41
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69.00 72.50 2.16 0.75 49.9 0.14 0.38
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76.50 88.05 7.11 3.85 57.8 0.15 0.46
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incl 76.50 84.00 4.62 5.32 81.1 0.15 0.29
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SECTION 600N
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CP078B 1.50 4.30 2.53 2.08 52.1 0.07 0.11
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19.00 21.50 2.26 0.56 34.0 0.14 0.29
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30.55 32.00 1.31 0.29 40.9 0.06 0.11
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32.00 38.60 5.97 void
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38.60 40.00 1.27 0.31 24.0 0.11 0.29
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CP082 Hole lost at 5.2 m TT void
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CP084 68.50 74.00 3.39 0.68 1.5 0.10 0.26
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127.50 133.50 3.70 0.41 1.2 0.08 0.23
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138.00 165.50 16.94 2.31 14.4 0.20 0.41
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incl 141.20 159.50 11.27 3.27 9.1 0.17 0.32
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incl 141.20 148.00 4.19 5.36 20.8 0.22 0.47
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SECTION 625N
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CP077 32.60 41.50 8.05 4.17 8.1 0.22 0.36
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incl 34.80 38.50 3.35 8.08 10.0 0.27 0.34
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SECTION 650N
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CP076 8.50 13.50 4.53 0.64 33.3 0.11 0.12
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incl 39.80 42.85 2.76 1.89 4.6 0.10 0.22
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(i) - TT means true thickness
Extension of Resource Area
The Company has completed an 18 hole drill program to the south of the current area of the calculated resource with the intent of extending the Cerro Prieto deposit beyond its current drill defined limits. Assay results from these drill holes are pending.
Condemnation Drilling
The Company has also drilled three "condemnation" holes to test the planned leach pad and crushing facility areas. Assay results from these drill holes are also pending.
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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.
Contacts:
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO
604-688-6200
www.orocoresourcecorp.com
