VANCOUVER, BRITISH COLUMBIA, May 14, 2012 (MARKETWIRE via COMTEX) — Oroco Resource Corp. (“Oroco” or “the Company”) is pleased to report additional results from the 2011 and 2012 exploration and infill drill program at its Cerro Prieto Project in northern Sonora State, Mexico.
As part of this overall drill program, the Company tested the southern extension of the mineralized structure on strike from the southern boundary of the area containing the current resource, a length of 500 meters from Line 150N to Line 350S. All but one of the completed drill holes intersected intervals of gold mineralization greater than the cut-off grade used in the existing resource estimate for Cerro Prieto.
Highlights of the results include:
1. Holes CP067 and CP068A, both drilled on line 100N (50 m south of the
boundary of the current resource estimation), intersected 10.35 m of
0.65 g/t Au and 11.2 m of 0.60 g/t Au respectively;
2. At Line 200S, hole CP095 intersected 15.0 m of 0.50 g/t Au in one of two
zones intersected;
3. At Line 250S, hole CP097 intersected 9.00 m of 3.29 g/t Au in one zone
and 12.65 m of 0.45 g/t Au in a deeper zone; and
4. At Line 300S, hole CP098 intersected 9.15 m of 0.57 g/t Au.
The drill holes were spaced to test the structure to a maximum vertical depth of 100 meters at 50 meter intervals along strike. All drill holes intersected the structure and in some cases intersected more than one mineralized zone. Full results are shown in the following table.
Cerro Prieto South Extension Drill Results
HOLE SECTION FROM TO LENGTH AU AG PB ZN
NO. (m) (m) (m) (g/t) (g/t) (%) (%)
CP067 100N 72.50 82.85 10.35 0.650 14.2 0.25 0.86
incl 73.50 81.40 7.50 0.782 16.2 0.32 0.97
CP068A 100N 35.85 47.05 11.20 0.599 15.8 0.42 0.57
incl 40.40 47.05 6.65 0.831 19.6 0.45 0.61
CP069 050N 50.50 53.50 3.00 0.306 2.1 0.12 0.58
CP070 0 68.00 70.50 2.50 0.314 36 0.65 0.26
CP071 0 40.15 44.50 4.35 0.292 2.2 0.05 0.11
46.25 47.80 1.55 0.201 4.4 0.05 0.09
52.35 55.20 2.85 0.280 4.2 0.45 0.51
CP072 50S 70.00 74.50 4.50 0.109 67.5 0.21 0.47
CP073 100S 59.80 62.25 2.45 0.370 6.5 0.51 0.87
CP074 100S 89.30 93.00 3.70 0.310 42.4 0.37 1.20
incl 89.30 90.80 1.50 0.615 8.4 0.18 0.37
100.00 101.50 1.50 0.208 0.6 0.08 0.04
CP075 150S 92.00 100.00 8.00 0.471 2.8 0.48 1.13
incl 94.50 96.00 1.50 0.958 6.4 1.13 2.48
CP095 200S 55.00 59.10 4.10 0.29 2.7 0.07 0.22
74.00 89.00 15.00 0.50 32.9 0.27 0.52
incl 84.50 89.00 4.50 0.83 99.1 0.68 1.03
CP096 200S 83.00 85.40 2.40 0.79 34.6 0.21 0.58
94.00 97.00 3.00 0.28 2.7 0.44 0.91
106.00 110.50 4.50 0.54 1.9 0.24 1.01
113.50 115.00 1.50 0.56 0.8 0.07 0.18
CP097 250S 67.00 76.00 9.00 3.29 93.2 0.38 0.58
incl 68.50 71.50 3.00 7.32 201.0 0.36 0.72
88.00 92.50 4.50 0.67 4.3 0.11 0.30
109.00 121.65 12.65 0.45 2.1 0.15 0.47
CP098 300S 43.40 52.55 9.15 0.57 7.20 0.07 0.26
63.05 66.05 3.00 2.31 12.70 0.27 0.55
105.00 106.00 1.00 0.90 3.80 0.05 0.10
CP099 300S 76.00 79.00 3.00 0.30 3.6 0.14 0.39
89.60 92.00 2.40 0.30 36.7 0.78 2.25
132.00 133.50 1.50 0.62 0.8 0.01 0.10
142.50 145.40 2.90 0.29 1.8 0.08 0.37
CP100 350S 45.50 57.00 1.50 0.25 46.5 0.19 0.07
The south end of the current proposed open pit extends south from line 150N to Line 000, however as no drilling had previously taken place south of line 150N, the Current Resource is presently estimated only as far south as Line 150N. Drill results within this area reported herein include intersections of mineralization at gold grades greater than the cut-off grade used in the Company’s previously announced resource calculation and Preliminary Economic Assessment. Previously reported surface trenching from lines 150N to 000 also include intervals of mineralization at grades greater than the cut-off, including intervals of 5.2 meters averaging 4.79 g/t Au and 21.5 g/t Ag (at 150N), 9.8 meters averaging 4.08 g/t Au and 36.2 g/t Ag (at 100N), and 6.1 meters averaging 2.05 and 9.0 Ag (at 050N).
Further south along strike, intersections from drilling at 100S to 150S and 250S to 300S are of particular interest because higher grade material was intersected under surface trenches with higher grade results (see press release March 7, 2010), including 6.0 meters averaging 1.28 g/t Au and 12.8 g/t Ag (at 100S), 4.7 meters averaging 2.36 g/t Au and 28.0 g/t Ag (at 150S), 5.5 meters averaging 4.65 g/t Au and 53.3 g/t Ag (at 272S) and 8.0 meters averaging 2.49 g/t Au and 93.4 g/t Ag (at 300S).
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 100% owned concessions comprising over 7,000 ha 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
