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Bullboard - Stock Discussion Forum 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... see more

TSXV:OCO - Post Discussion

Oroco Resource Corp > OROCO COMPLETES AIRBORNE MANETICS SURVEY AND UPDATES 3D IP
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Post by Ismail on Mar 03, 2021 8:03am

OROCO COMPLETES AIRBORNE MANETICS SURVEY AND UPDATES 3D IP

Vancouver, March 03, 2021 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce the successful completion of the airborne component of a helicopter magnetics survey over the Santo Tomas Project (“the Project”), and to provide an update on the 3D induced polarization survey in progress on the Project.

Magnetics Survey.  The Company has completed a helicopter magnetics survey performed by Terraquest Ltd. (“TQ”) using a high sensitivity cesium vapour magnetometer, a gamma ray spectrometer and TQ’s proprietary Matrix very low frequency electromagnetic (“VLFEM”) system.  The survey was completed with the collection of 2,231 line kilometers of data with an east-west tie-line separation of 50 metres and a north-south tie-line separation of 500 metres.  Independent quality monitoring of the survey is being provided by Condor Consulting, Inc. of Lakewood, CO. The Company expects to receive the processed magnetics, VLFEM and radiometric data from TQ within the next two months. The Company will then analyze the data to assist in the mapping of the sub-surface geology of the Project. 

3D IP Survey. Further to its news release of January 27, 2021, the Company has completed the deep, three-dimensional Induced Polarization geophysical survey (“3D IP”) over the south eastern extension to the project survey grid on the South Zone of the Project, closing off the eastern extension of the South Zone chargeability feature.

The Company has now relocated the survey team to the Brasiles Zone in the northern part of the grid and commenced the survey of the continuation of NNE striking, west-dipping, chargeability-high response which the 3D IP survey has already demonstrated extends from the North Zone to the prominent gossan of the Brasiles Zone. The Company is taking advantage of the current low water levels in the Huites Reservoir to collect data from previously inaccessible areas, and will continue the 3d IP survey for another 800 metres to the north.  The Company may extend the survey further in the event that the Brasiles chargeability feature has not been closed off.  Subject to such extensions, the DCIP survey is approximately 80% complete.

The relative outlines of the airborne magnetics and field-based DCIP geophysical surveys are shown in the map in Figure 1.

ABOUT OROCO:

The Company holds a net 61.4% interest in the collective 1,172.9 ha core concessions of the Santo Tomas Project in NW Mexico and may increase that majority interest up to an 81.0% interest with a project investment of up to CAD$30 million.  The Company also holds a 77.5% interest in 7,807.9 ha of mineral concessions surrounding and adjacent to the core concessions (for a total project area of 22,192 acres).  The Project is situated within the Santo Tomas District, which extends from Santo Tomas up to the Jinchuan Group’s Bahuerachi project, approximately 14 km to the north-east.  Santo Tomas hosts a significant copper porphyry deposit defined by prior exploration spanning the period from 1968 to 1994. During that time, the property was tested by over 100 diamond and reverse circulation drill holes, totaling approximately 30,000 meters. Based on data generated by these drill programs, a historical Prefeasibility Study was completed by Bateman Engineering Inc. in 1994.

The Santo Tomas Project is located within 160km 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 by a 32 km access road originally built to service Goldcorp’s El Sauzal Mine in Chihuahua State.

For further information, please contact:

Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.

Tel: 604-688-6200

www.orocoresourcecorp.com

Comment by Mhysa99 on Mar 03, 2021 9:47am
Check out the extent of the heli-mag survey area (best viewed on Oroco's web page https://www.orocoresourcecorp.com/news/oroco-completes-airborne-manetics-survey-and-updates-3d-ip-survey-progress-at-santo-tomas ) it's huge ! Potential to expand site on all sides ? Can't wait for further 3IP results. 
Comment by ChrisMart on Mar 03, 2021 10:12am
Indeed, area is at leat 5 times larger than the IP survey.
Comment by GeneralGogol on Mar 03, 2021 10:35am
This is all very reassuring news.  Drilling holes is expensive.  It’s much better to carefully map out the area using lower-cost techniques so that the choice of drilling locations is optimized.  From the map, you can see that they covered a massive area with multiple pieces of instrumentation.  You don’t want to burn through a drilling budget when cheaper survey techniques can ...more  
Comment by FrozenInOntario on Mar 03, 2021 11:07am
Agree that drilling is expensive.    However, will an heli-mag survey add any value to what they are currently surveying with 3D-IP ?    "The Company may extend the (3D IP ) survey further in the event that the Brasiles chargeability feature has not been closed off." Just looking at the map with the overlays, seems that these guys are looking to see if they should ...more  
Comment by ChrisMart on Mar 05, 2021 3:27am
I have the same feeling that this is the real reason. Do heli-mag survey of the north and South-East.  The survey reveals nothing => no more investment in the north and South-East.  The survey reveals something => Do 3DIP Price Heli-mag survey < 3DIP < Drilling      
Comment by GeneralGogol on Mar 06, 2021 4:34pm
I have been reading up on what can be learned through the use of geomagnetic surveys. Here is some interesting weekend reading material. “Mineralisation in porphyry Cu-Au deposits is commonly associated with magnetite that can produce strong discrete magnetic anomalies. This is usually within a zone of magnetite-destructive alteration that can be identified with a high resolution magnetic survey. ...more  
Comment by clavat2224 on Mar 03, 2021 2:44pm
Was this heli mag survey always a thing? Or did they decide to do this more recently and the 3D IP will be further expanded now?
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