VANCOUVER, July 9, 2019 /CNW/ - Oroco Resource Corp. (TSX-V: OCO) ("Oroco" or "the Company") is pleased to announce that it has engaged Mr. Mark Stevens, C.P.G., of Denver Colorado as a technical consultant to the Oroco team. Mr. Stevens is initially leading an independent geological review of the historical resource files pertaining to the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit in Sinaloa State, Mexico. Mr. Stevens will thereafter be a central participant in the planning for an updated resource estimate and additional exploration work at Santo Tomas, as part of the technical and commercial advancement of the mining project.
Mr. Stevens is a highly experienced exploration, evaluation and resource geologist who was formerly the V.P. Exploration for Augusta Resources, whose primary asset was the world class Rosemont Copper Project in southern Arizona. He was most recently V.P. Exploration for Brio Gold with production and exploration in Brazil. Prior to his time with Augusta Resources and the Rosemont project, Mr. Stevens was a Principal Geologist with the international mining consulting firm of Pincock, Allen & Holt.
Mr. Craig Dalziel, Oroco's CEO commented: "We are very pleased to have a senior geologist with the capabilities of Mark Stevens join the Oroco team, as he has extensive experience with the technical advancement of large-scale porphyry copper resource projects such as that at Santo Tomas. We feel that his experience at Rosemont, in particular, will be invaluable in all areas of the project's development. Oroco management is confident that Oroco is continuing to build a strong team to carry the Santo Tomas project forward."
The Company currently holds an irrevocable option to acquire 100 percent of Altamura Copper Corp., a private B.C. company which holds a 50 percent interest in Compania Minera Ruero, S.A. de C.V., the registered owner of the Santo Tomas concessions, and an option to acquire the other 50 percent interest. The Santo Tomas concessions are a contiguous group of seven mineral concessions located in Sinaloa State, Mexico. Altamura Copper Corp. also holds a 66.7 percent interest in Xochipala Gold, S.A de C.V., the owner of a net 85 percent unregistered contractual interest in the Santo Tomas concessions. The Company and Altamura Copper Corp. are pursuing the registration of the Santo Tomas concessions to Xochipala Gold, S.A de C.V. for reason of its preferable ownership and investment structure relating to the development of those concessions (see the Company's most recent MD&A available on SEDAR).
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.
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, are forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated or implied in such statements. 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.
SOURCE Oroco Resource Corp.
For further information: Mr. Craig Dalziel, President and CEO, Oroco Resource Corp., Tel: 604-688-6200, www.orocoresourcecorp.com