Oroco Resource Corp. reports developments tied to advancing the Santo Tomás porphyry copper project in northwestern Mexico. Company news commonly covers diamond drilling, mineral-resource classification work, Pre-Feasibility Study programs, baseline environmental and permitting work, and project infrastructure context, including access to port, highway, rail, power and natural gas corridors.
Oroco updates also include capital-structure actions, financing proceeds directed toward project work and general working capital, shareholder and securities matters, and governance changes affecting senior leadership and board oversight.
Oroco Resource Corp. (ORRCF) announced the oversubscription of its private placement offering on March 10, 2022, ceasing new subscriptions. The Company holds a 73.2% interest in the Core Concessions of the Santo Tomas Project in Mexico, with potential to increase to 85.5% through a CAD$30 million investment. The project area spans 22,192 acres and features a significant copper porphyry deposit. The Santo Tomas Project is well-located near transport infrastructure, including proximity to the Pacific port at Topolobampo.
Oroco Resource Corp. (OTC: ORRCF) announced a private placement aiming to raise up to $13.6 million by selling 8 million units at $1.70 each. Each unit includes one common share and a warrant priced at $2.40 for 24 months. Proceeds will fund the Santo Tomas Project exploration and general working capital. Closing is expected on March 15, 2022, pending regulatory approvals. The securities will not be offered in the U.S. The company holds a net 73.2% interest in the project.
Oroco Resource Corp. (OTC: ORRCF) announced promising initial assay results from its drilling campaign at the Santo Tomas property in Mexico. Eight drill holes have been completed, confirming historical copper grades and geological models. The first three holes returned significant copper intersections, with grades up to 0.39% Cu over 255m. Additionally, elevated molybdenum, gold, and silver were noted, contributing to copper equivalent grades. The results support further exploration and confirm the potential of the North Zone deposit.