Phase One Drill Program Completed At Santo Tomas

VANCOUVER - Oroco Resource Corp. reported on drill holes N046 and N047 from its North Zone drilling program at its Santo Tomas property located in northwestern Mexico.  These holes (1,460m of drilling) constitute the final drill holes of Oroco's 2021-2023 program. The holes (1,460m of drilling) constitute the final drill holes of Oroco's 2021-2023 program.

Highlights: Drill hole N046 (Plate NZ-47-A) returned 228.5 m of 0.465% CuEQ; and Drill hole N047 (Plate NZ-49) returned 387.4 m of 0.498% CuEQ.

Richard Lock, CEO, said, “These results from the final two holes of our Phase One drill program provide further evidence of the quality and magnitude of the deposit at Santo Tomas.  While these results were not included in our recent Mineral Resource Estimate, they will be included in our upcoming Preliminary Economic Assessment.”

The Company has now completed its North Zone drill program supporting the pending Preliminary Economic Feasibility study.  The North Zone program comprises 47 diamond drill holes and 30,909 m of drilling. The southern portion of the North Zone mineralization is blind to the surface and lies beneath a blanket of post-mineralization volcanic rock.  To test this area, the Company completed four diamond drill holes with a modified underground drill rig.  Horizontal and shallow-dipping holes allowed testing of the southern 400 m of the North Zone, at depths 300 to 500 m below the surface, above and to the south of hole N038 (Plate NZ-49).

Drill hole N046 was pivoted southward from the collar of N044 (Plate NZ-47) and ended 350 m south in significant mineralization.  On average, N046 indicates that the mineralization of N044/N045 extends 250 m further southward at the 400 m elevation (about 300 m below the Santo Tomas ridge).  This area has few historical drill holes, and the Cu >0.30% Grade shell model cited in the Company’s 2019 Technical Report appears to be over two times wider in this area.  These results demonstrate the southward and down dip continuity of the North Zone.

Significantly, N047 intersected mineralization only 100 m below the surface on the western flank of the Santo Tomas ridge.  N047 lies above a broad zone of mineralization in Hole N038 and 100 m north of the better than average grades of Holes N044 & N045. Modeling and structural analysis of the historical results and the current drilling have successfully delineated good-grade North Zone mineralization in a gently north-plunging panel beneath the Santo Tomas ridge, extending 1,600 meters along the strike and 400 to 800 m downdip below the surface. Results from N044 and N045, and now, from N046 and N047, indicate the exciting potential of the southern segment of the North Zone at, and south of, Hole N038 (Plate NZ-49).  Whereas the North Zone averages about 300 m wide at grades above about 0.30 Cu, beginning at Plate NZ-49, the average width on the level view is 400 m, double the modeled width of the sparse historical drilling.  These results, taken together, indicate the southern segment is the highest grade and widest portion of the North Zone deposit.  Additional drilling will be required to fully define this area of the North Zone.