VANCOUVER, Canada, April 02, 2025 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) (“Oroco” or the “Company”) Last week in Culiacan, Sinaloa, Craig Dalziel, Oroco's Chairman, and other members of Oroco’s Senior Management Team met with Rubén Rocha Moya, the Governor of Sinaloa, Ricardo Velarde Cárdenas, Secretary of the Economy for Sinaloa, and other senior state government officials, to discuss the advancement of the Santo Tomás Copper Project in Choix, Sinaloa. The Governor recognizes the project's potential for responsible development, investment, and long-term economic growth, and confirmed the potential contribution of the Santo Tomás Project to the future of the state economy, particularly that of the Municipality of Choix. The Governor stated that his government is committed to generating good jobs in the Choix region through environmentally and socially sustainable development.
The state meeting with Governor Rocha Moya followed the prior meetings in Mexico City with Dr. Luis Rosendo Gutiérrez Romano, the Undersecretary of the Mexican Economy, and his senior staff (refer to the Oroco news release of March 26, 2025), and a subsequent technical meeting in which Ian Graham, Oroco’s President, Ubaldo Trevizo Ledezma, Santo Tomas Project Manager, and senior Oroco technical personnel presented the Santo Tomas Project to Fernando José Aboitiz Saro, Head of the Extractives Activities Coordination Unit, and Luz Hiram Olimpia Laguna Morales, Director General of Mining Development, and their technical staff. The purpose of the technical meeting was to prepare for the incorporation of the Santo Tomas Project into the Key Development Projects Registry to be maintained by the Ministry of the Economy’s Mining Coordination Office, an important element of Mexican Government support.
“The state executive and federal technical meetings continued to provide commitments of strong Mexican Government support for the Santo Tomás Project. Coordinated by Congressional Deputy Mario Zamora and his staff, these meetings have led to a responsive and supportive dialogue with Mexico’s senior economic and mine development officials and we are extremely grateful for the guidance and support. The pathway forward for the continued development of the Santo Tomas Project is now clear,” commented the Oroco Chairman, Craig Dalziel.
The Company holds a net 85.5% interest in those central concessions that comprise 1,173 hectares “the Core Concessions” of The Santo Tomas Project, located in northwestern Mexico. The Company also holds an 80% interest in an additional 7,861 hectares of mineral concessions surrounding and adjacent to the Core Concessions (for a total Project area of 9,034 hectares, or 22,324 acres). The Project is situated within the Santo Tomas District, which extends up to the Jinchuan Group’s Bahuerachi Project, approximately 14 km to the northeast. The Project hosts significant copper porphyry mineralization initially defined by prior exploration spanning the period from 1968 to 1994. During that time, the Project area was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Commencing in 2021, Oroco conducted a drill program (Phase 1) at Santo Tomas, with a resulting total of 48,481 meters drilled in 76 diamond drill holes.
The drilling and subsequent resource estimates and engineering studies led to a revised MRE and an updated PEA being published and filed in August of 2024, which studies are available at the Company’s website www.orocoresourcecorp.com and by reviewing the Company profile on SEDAR+ at www.sedarplus.ca.
The Santo Tomás Project is located within 170 km of the Pacific deep-water port at Topolobampo and is serviced via highway and proximal rail (and parallel corridors of trunk grid power lines and natural gas) through the city of Los Mochis to the northern city of Choix. The property is reached, in part, by a 32 km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State.
Additional information about Oroco can be found on its website and by reviewing its profile on SEDAR+ at www.sedarplus.ca.
Neither TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact included herein, including, without limitation, statements relating to future events or achievements of the Company, and the use of funds from the Offering, are forward-looking statements. There is no assurance that the proceeds of the Offering will be expended as contemplated. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these matters. Oroco does not assume any obligation to update the forward-looking statements should they change, except as required by law.
