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Oroco Resource Corp V.OCO

Alternate Symbol(s):  ORRCF

Oroco Resource Corp. is a Canadian mineral exploration company. The Company is engaged in the acquisition and exploration of mineral properties in Mexico. It holds a net 85.5% interest in those central concessions that comprise 1,173 hectares (ha) (the Core Concessions) of The Santo Tomas Project, located in northwestern Mexico. It also holds an 80% interest in an additional 7,861 ha 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 hosts a large, outcropping porphyry copper deposit comprised of fracture-hosted and disseminated copper and molybdenum sulphides with significant gold and silver credits. Its Xochipala Property is comprised of the Celia Gene (100 ha) and the contiguous Celia Generosa (93 ha) concessions. Its Salvador Property is a 100-hectare mining concession, which lies around 25 kilometers (kms) to the west of the Xochipala Property and 30 kms west of Chilpancingo, Guerrero.


TSXV:OCO - Post by User

Bullboard Posts
Post by Fischlaenderon Feb 27, 2014 7:09am
206 Views
Post# 22257419

GGA on the way towards full production

GGA on the way towards full productionGoldgroup received the last necessary permits to go into full production at Cierro Preto. GGA share price should react positively (OCO already holds 5.5 million) over the mid term and the production will trigger the option payments for OCO.

Goldgroup Receives Explosives Permit at Cerro Prieto
goldgroup-receives-explosives-permit-at-cerro-prieto

VANCOUVER, Feb. 27, 2014 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) is pleased to announce that its 100% owned subsidiary, Granmin S.A. de C.V. ("Granmin"), has received the permit for use of explosives from the Mexican military called SEDENA ("Secretary of National Defense"). This represents the final permit necessary for full-scale operations at the Company's 100%-owned Cerro Prieto open-pit, heap leach gold mine located in Sonora, Mexico. The explosives permit allows Goldgroup to order and use explosives for mining purposes under the supervision of the military. The Environmental Impact Statement (Manifestacion de Impacto Ambiental) and the Authorization of Change of Land Use (Estudio Tecnico Justificativo para Cambio de Uso de Suelo) for the Cerro Prieto project have previously been granted.

Goldgroup's Chairman and CEO, Keith Piggott, commented: "In commencing trial mining over the last three months we were restricted to bulldozer ripping. With the granting of the explosives permit, Goldgroup can now ramp up to full-scale mining at our Cerro Prieto heap leach mine. Additionally, the tertiary crusher has been commissioned which, because of a finer crush size, is expected to reduce the leach time for precious metals. We would like to thank our team and the officials in Sonora for their hard work in assisting us achieve these milestones. We now expect gold production to increase to a steady state as the heap leach pad builds."


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