Oroco Adds to Cerro Prieto Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/12 -- Oroco Resource Corp. (TSX VENTURE: OCO)(FRANKFURT: OR6) ('Oroco' or 'the Company') is pleased to announce the acquisition of three separate mineral concessions, Elba, Huerto de Oro and Reyna de Plata. These concessions will provide additional exploration targets to Oroco's Cerro Prieto Project.
The 5.82 ha Elba concession is located within the existing concessions which make up the Cerro Prieto Project, immediately to the south of and on strike from the current delineated resource. The Elba concession hosts approximately 250 meters of strike length of the main mineralized structure, over which surface sampling of the exposed mineralized zone returned highly anomalous results including 2.36 g/t Au and 28.0 g/t Ag over 4.7 meters and 1.78 g/t Au and 250.0 g/t Ag over 1.1 meters (see news release of March 7, 2010 - sections 25S to 250S). Reconnaissance mapping and surface sampling of the property indicate that the structure hosts mineralized zones of economically significant grade. Exploration drilling will take place on the Elba concession as part of the drill program currently underway.
The 20 ha Huerto de Oro and 9.79 ha Reyna de Plata mineral concessions are located approximately four kilometers east of Cerro Prieto. Maps published by Servicio Geologico Mexicano (Mexican Geological Survey), indicate that the concessions host numerous mineralized vein structures and four historic mining operations. The concessions contain structurally controlled zones of gold and silver mineralization hosted by diorite, granodiorite, siltstone and arenite. Numerous small scale artisanal mines and surface cuts are also reported in the region. The Company intends to conduct a reconnaissance exploration program on these concessions during 2012.
Total consideration for the three concessions was $875,000 pesos (approximately CDN$66,000).
Locations of the Elba, Huerto de Oro and Reyna de Plata concessions on the Oroco website at: www.orocoresourcecorp.com/projects-Cerro-Prieto-Project-Maps-and-Sections.html.
Qualified Person
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. 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.
About Oroco
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. The Cerro Prieto Project consists of a group of greater than 7,000 ha of 100% owned concessions in northern Sonora 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.
Contacts:
Oroco Resource Corp.
Mr. Craig Dalziel
President and CEO
604-688-6200
604-688-6260 (FAX)
www.orocoresourcecorp.com
