Oroco Resource Corp. Continues Its Drilling Success.
July 29, 2008
VANCOUVER, BRITISH COLUMBIA-(Marketwire – July 29, 2008) – Oroco Resource Corp. (“Oroco”) is pleased to announce the results of an additional five diamond drill holes completed as part of its Phase One, 6,000 metre drill program at the wholly owned Cerro Prieto Property in Sonora State, Mexico.
- 10 holes are now completed and all holes have intersected the mineralized shear zone over thicknesses of tens of meters;
- Drill hole CP003 intersects 23.0 meters (13.5 m true thickness) averaging 2.41 g/t Au, 27.2 g/t Ag, 0.40% Pb and 1.03% Zn including 8.0 meters (4.7 m true) with 6.05 g/t Au, 7.8 g/t Ag, 0.36% Pb and 1.12% Zn;
- Drill hole CP004 intersects 43.0 meters (24.5 m true) averaging 0.314 g/t Au, 8.1 g/t Ag, 0.72% Pb and 2.12 % Zn including 15.5 meters (8.8 m true) with 0.59 g/t Au, 18.7 g/t Ag, 1.52% Pb and 3.51 % Zn;
- Drill hole CP005 intersects 81.5 meters (39.5 m true) averaging 1.16 g/t Au, 12.0 g/t Ag, 0.06% Pb and 0.18% Zn including 5.6 meters (2.7 m true) with 11.94 g/t Au, 10.2 g/t Ag, 0.10% Pb and 0.29% Zn;
- Drill hole CP007 intersects 29.8 meters (22.5 m true) averaging 1.14 g/t Au, 52.9 g/t Ag, 0.23% Pb and 0.51% Zn including 10.0 meters (7.6 m true) with 1.00 g/t Au, 139.9 g/t Ag, 0.50% Pb and 1.06% Zn.
To date, 2,515 meters of diamond drilling have been completed in 10 holes, and all holes have intersected the mineralized shear zone over thicknesses of tens of meters. The shear zone often hosts at least one section of strong quartz veining with abundant hematite and manganese. Three holes intersected stopes relating to historic mining operations at the projected location of the strong veining. Drilling is ongoing and an additional 15 holes are projected as part of Phase One.The following table is a summary of the assays received for drill holes CP003 to CP007. The first set of assays represent the average for the total mineralized shear zone followed by the averages for the higher grade sections within the shear zone with the exception of CP003. CP003 was only partially sampled initially; the remainder has now been sampled, the assays for which are now pending and will be reported in a future press release. For a longitudinal section showing the drill hole intercepts please refer to Oroco’s website at here
Table 1. Significant Intersections from Cerro Prieto Drill Results
||APPARENT THICKNESS (m)
||TRUE THICKNESS (m)
CP003 and CP005 are on the same cross section as CP002 (previously reported in a news release issued July 16, 2008) with CP003 located 100 meters vertically above CP002, and CP005 located 100 meters vertically above CP003. Intersections in CP003 and CP005 are considerably richer in gold than CP002 which is considerably richer in silver, lead and zinc than the other two holes. This is either a result of vertical zoning or the fact that CP002 stopped short of the gold rich zone (the hole was in mineralization and short of its targeted depth when it was ended due to technical difficulties). The long intersection reported in the table for CP005 includes 2.2 meters with zero grade attributed to the 2.2 meter open stope.CP004 and CP007 are located 100 meters northwest of the cross section with CP002, CP003 and CP005 and the intersection points on the longitudinal section are approximately 200 meters apart vertically with CP004 below CP007. CP007 intersected 29.8 meters of good mineralization before entering a 7.7 meter stope. Drilling could not continue past the stope. CP004 returned the best grades in lead and zinc to date with significant silver and gold credits. CP006 is located in an area untested by Morgain Minerals in 1998 on a cross section 100 metres to the northwest of the cross section with CP004 and CP007. After intersecting 15 meters of the mineralized shear zone, the drill entered a stope which was seven meters across and hole CP006 had to be abandoned.
CP008, CP009 and CP010 have been completed as shown on the longitudinal section and have all intersected significant thicknesses of the shear zone. Assays for these holes are pending. The company is currently drilling CP011. To date, the Phase 1 program has tested the mineralized zone along a strike length of 300 meters to a depth of 350 meters from surface. At the completion of the current program (6,000 meters in ~ 25 holes) the zone will have been 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.Oxide mineralization has been observed in all the drill core. What had been reported in our press release of June 16, 2008 as stringer sulphides is actually a mixture of manganese oxides and specular hematite. To date there have been no sulphides found in the drill core.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 as well as a 100% interest in three mining concessions in the state of Guerrero totaling 293 hectares. Oroco’s management has a wealth of experience in the mining industry, taking exploration projects to feasibility and ultimately to production.
Oroco’s Resource Geologist, Kenneth R. Thorsen, B.Sc., P. Geo., a ‘qualified person’ for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators, 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.
Notice to Readers: This website and the information included herein are owned by Oroco Resource Corp. and its subsidiaries and may be changed or updated from time to time without notice. By accessing the website and the information provided, you agree to hold Oroco Resource Corp. and its subsidiaries, and their respective officers, employees and agents harmless against any claims for damages or cost or any loss of any kind arising out of the access to or use of this website or any information contained in or obtained through this website.