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Oroco Resource Corp. Commences Phase One Drilling Program
Apr 24, 2008 08:18AM
Oroco Resource Corp. Commences Phase One Drilling Program at Past Producing Cerro Prieto Mine
11:32 EDT Thursday, April 24, 2008
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2008) - Oroco Resource Corp. (TSX VENTURE:OCO) is pleased to announce that it has initiated its 2008 drilling program at its wholly owned Cerro Prieto project in Sonora, Mexico. On April 22, Phase I diamond drilling commenced at the Cerro Prieto project for the purpose of confirming historic drill results, potentially expanding the mineralized zone and developing a NI 43-101 compliant resource. Oroco has contracted Canmex Diamond Drill S.A. de C.V. of Mazatlan, Mexico to conduct the Phase I drilling.
In the four weeks since the completion of Oroco's Initial Public Offering the company has been successful in securing surface access rights for the Cerro Prieto project, has engaged a crew managed by geologist Antonio Montante of San Luis Potosi, Mexico, and has secured the necessary machinery and infrastructure to conduct a comprehensive field program.
Oroco's 2008 Phase I exploration program will include a 6,000 metre diamond drilling program in the area of the past producing Cerro Prieto Mine to confirm historic results and test below the historic workings. The program will also include surface mapping, sampling within the historic Cerro Prieto Mine workings and surrounding property, trenching across the vein systems at 200 metre intervals, ground geophysical surveys and initial small scale (bench) metallurgical testing. A contingent Phase II program will include an additional 20,000 metres diamond drilling including detailed infill, extension surface drilling and underground drilling, and will also include rehabilitation and mapping of underground workings.
Details of the Cerro Prieto Project may be found at:
Oroco is a Canadian mineral exploration company which holds a 100% interest in six mineral concessions in Mexico. The company's primary focus is the Cerro Prieto Mine, a historic polymetallic deposit in Sonora, Mexico and the nearby 2,508 hectare Cerro Prieto North concession. In addition, Oroco holds three mining concessions in Guerrero, Mexico totaling 293 hectares.
Director Ken Thorsen, BSc Geological Engineering, P Eng, is the company's Qualified Person for the Cerro Prieto Project. Mr. Thorsen is responsible for the current exploration and development program and has reviewed the content of this release.
Stephen Leahy, President
Forward Looking Statements: This news release contains certain forward looking information concerning the business of the Company. These forward looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward looking statements. These risks are further described in the Company's prospectus dated February 12, 2008, which is available at www.sedar.com.
The Company is under no obligation to update forward looking statements if circumstances or management's opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward looking statements.