VANCOUVER, BRITISH COLUMBIA- (Marketwire – September 18, 2008) – Oroco is pleased to announce the results from an additional four diamond drill holes from its Cerro Prieto Property located in Sonora State, Mexico.
CP011, the first hole to return significant copper values, intersected a 1.5 meter section (0.7 meter true) that averages 0.403 g/t Au, 79.3 g/t Ag, 2.07% Cu, 8.06% Pb, and 9.35% Zn in a 61.0 meter section (30.0 meters true thickness) averaging 0.147 g/t Au, 13.3 g/t Ag, 0.74% Pb and 2.02% Zn. Within the broader section and including the high grade copper section is an 8.5 meter (4.2 meters true thickness) long section averaging 0.188 g/t Au, 79.6 g/t Ag, 0.78% Cu, 3.71% Pb and 6.13% Zn;
Three holes (CP009, CP010 and CP011) returned significant molybdenum assays (see table) ;
CP008 intersected 48.3 meters (25.0 meters true thickness) averaging 0.542 g/t Au, 20.4 g/t Ag, 0.45 % Pb and 0.99% Zn including 19.8 meters (10.2 meters true thickness) averaging 0.904 g/t Au, 27.6 g/t Ag, 0.67% Pb and 1.35% Zn;
CP009 intersected 47.5 meters (32.0 meters true thickness) averaging 0.318 g/t Au, 14.9 g/t Ag, 0.91% Pb and 2.59% Zn including 8.5 meters (5.7 meters true thickness) averaging 0.746 g/t Au, 59.7 g/t Ag, 3.3% Pb 5.45% Zn, and 0.06% Mo;
CP010 intersected 77.2 meters (42.0 meters true thickness) averaging 0.284 g/t Au, 4.9 g/t Ag, 0.36% Pb and 1.07% Zn including 11.5 meters (6.3 meters true thickness) averaging 1.21 g/t Au, 11.5 g/t Ag, 0.98% Pb and 2.29% Zn.
To date, a total of 4,850 meters have been completed in the phase one drill program. The mineralized shear zone has been traced for a total of 500 meters along its strike length and to a maximum depth of 400 meters from surface. In addition, a surface trench located 425 meters north of Oroco’s northernmost drill hole (see press release dated September 9, 2008) has exposed the mineralized zone over a 36.3 meter true width. Hole CP019 is currently being drilled and assays are awaited for holes CP012 to CP018. Please refer to this image for the location of the completed holes on a longitudinal section.
The following table is a summary of the significant assays received from holes CP008 to CP011. Also included is a new calculation for CP003 that includes an extension to the width of the mineralized zone that had not previously been sampled.
The four new drill holes reported in this release are outside of the area included in Morgain Minerals’ historical resource calculation and significantly enhance the potential for a larger resource than that concluded from Morgain’s work. Also of great importance is the addition of copper and molybdenum to the metallogeny. Although the intersections containing high grade copper and molybdenum are relatively thin, the model of a deep epithermal or mesothermal system is holding true.
Also significant is the fact that CP011, the deepest hole on the property to date, intersected sulphides including visible pyrite, galena and sphalerite indicating that the oxide zone exists to a depth of approximately 350 meters from surface and that higher base metal contents are present below the oxide zone.
CP019 is currently being drilled and three other holes will be completed in the next few weeks, which will conclude the phase 1 drill program. Trenching, mapping and sampling are continuing on the surface trace of the mineralized zone. At the completion of these programs and after all assays are received and reviewed, the Company intends to commence a phase 2 drill program including infill and step out drilling.
The Cerro Prieto polymetallic project is located in Sonora State, Mexico and consists of three mineral concessions totaling 2,508 hectares. Oroco holds a 100% interest in these concessions. In April of this year a Phase 1 drill program commenced and at the completion of this program (6,000 meters in 22 holes) the mineralized zone will have been drill tested vertically at 100 meter centers along a strike length of at least 600 meters to a depth of 400 meters allowing the calculation of an initial estimation of resources.
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 and has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this news release.
Quality Assurance & Control
The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. Split core is transported to the ALS Chemex laboratory in Hermosillo where it is crushed and pulverized, with pulps sent to the ALS Chemex laboratory in Vancouver, B.C. for assaying. The other half of the core is retained for future assay verification. The QA/QC policy includes the chain of custody monitoring, insertion of blanks, standards and duplicates in the initial samples submitted. The laboratory provides an additional internal control program.
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