Oroco Announces Commencement of Exploration at its Xochipala Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/21/12 -- Oroco
Resource Corp. (TSX VENTURE:OCO)(FRANKFURT:OR6) ("Oroco" or "the
Company") is pleased to announce the commencement of an exploration
program on its Xochipala Project in Guerrero State, Mexico. The
project is located at the southern end of a gold rich district in
Mexico called the Guerrero Gold Belt (the "GGB"). To date more than
19 million ounces of NI 43-101 compliant gold resources in all
categories have been reported, including Los Filos (Goldcorp Inc.:
13.58 million ounces gold proven, probable, measured, indicated, and
inferred as at 2011); El Limon and Los Guajes (Torex Gold Resources
Inc.: 5.44 million ounces gold measured, indicated and inferred
ounces as at September, 2012); and Ana Paula (Newstrike Capital Inc.:
currently estimating its resource). The Xochipala Property is the
last remaining under-explored target in the GGB that has geological
characteristics similar to the known deposits, including the
existence of a strong magnetic signature and extensive areas of
alteration associated with the contact between intrusives and
The initial program on the 193 hectare property will include detailed
geological mapping, prospecting and rock sampling. A detailed base
map will also be prepared which will include historic mine workings,
previous drill hole locations and accessibility.
The focus of the mapping and sampling will be the contact area of the
sediments and intrusives. Extensive mineralized endoskarn and
exoskarn zones are associated with similar contacts throughout the
region and host all of the major gold deposits in the Guerrero Gold
Belt. Visits to the property by company personnel have noted
extensive areas of marbleized limestones (exoskarns) and highly
altered, ferruginous intrusives (endoskarns) that are indicative of
skarn mineralization in the vicinity of the more than one kilometer
of the targeted contact zone.
The sampling program reported previously (August 14, 2012 news
release) focused on showings where historical work targeted
moderately thin (up to 5.0 meters) mineralized structures and contact
zones. The current program will be considerably more extensive and
will channel sample all showings, rock exposures along road cuts and
other areas of altered outcrop with the intention of developing a
larger target that will include both high grade structural and
contact mineralization and lower grade skarn mineralization.
On receipt of assays from this program a diamond drill program will
be initiated to test the anomalous areas noted from the mapping and
sampling. It is anticipated that drilling will start in the fourth
quarter of 2012.
Kenneth R. Thorsen, B.Sc., P.Eng., 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. He has verified the data (including
sampling, analytical and test data) and prepared or supervised the
preparation of the information contained in this news release.
Oroco is a Canadian-based mineral exploration company with its
primary focus on the accelerated development of the gold-bearing
oxide zones of its Cerro Prieto Project in northern Sonora State,
Mexico. The Cerro Prieto Project consists of a group of 100% owned
concessions comprising over 7,000 ha. Oroco also owns a 100% interest
in the 193 ha Xochipala Property, contained within the original
Morelos National Mining Reserve in Guerrero State, Mexico.
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.
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO
Press spacebar to pause and continue. Press esc to stop.