Malibu, CA, June 26, 2023 AEST (ABN Newswire) - In this segment of The Ellis Martin Report we speak with Adam Smith, co-founder and VP of Business Development of Oroco Resource Corp. (CVE:OCO) (ORRCF:OTCMKTS). Mr. Smith discusses the company's recent advance at its Santo Tomas copper project and the market's increasing interest in copper and acquisitive activity by the world's major mining companies.
The company boasts a copper resource of 8.5 billion pounds valued at $32 billion. The company plans to complete an extensive Preliminary Economic Assessment (PEA) this year.
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About Oroco Resource Corp
Oroco Resource Corporation (CVE:OCO) (OTCMKTS:ORRCF), founded in 2006, is a Canadian mineral exploration company with a history of and expertise in the development of resource opportunities in Mexico. Oroco is led by a management team with significant experience in exploration, discovery, development and operations in the mineral sector.
Oroco's focus is on the confirmation and expansion of the historical resource of the Santo Tomas porphyry copper project in Sinaloa State, Mexico, while continuing its assembly of neighbouring mineral concessions and the acquisition of certain other rights associated with the project. Oroco has a controlling interest in 8,908.79 hectares of contiguous mineral concession that cover and surround the known core of the Santo Tomas mineralized structure as well as the potential extensions of the historical resource to the north and south. This controlling interest increases as Oroco funds the additional exploration and development of the project.
The Santo Tomas project is a copper porphyry deposit which is historically defined by a total of 106 diamond drill and reverse circulation drill holes, totalling approximately 30,000 m. In July of 1994, Bateman Engineering Inc. conducted an economic assessment of the Santo Tomas project based on technical work by a team that included Mintec, Inc., Mountain States Research and Development, Inc., and Minetek S.A. de C.V. Bateman completed this study, termed "Santo Tomas Project, Sinaloa, Mexico, Pre-Feasibility Study." Current drilling activity is intended to confirm the historical project data and to further define the extent and quality of the resource.
While the economic assessment by Bateman contains favourable metallurgical test results and engineering designs that remain broadly acceptable today, the Company considers these historical economic studies and associated mineral resource estimates to be only conceptual in nature until confirmed by current technical programs.
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Oroco Resource Corp