202615 releases
Oroco Drills 234.6 Metres of 0.52% CuEq at Santo Tomás
Drill hole S045 at the Santo Tomás copper project in Choix, Sinaloa, Mexico returned 234.6 m at 0.43% Cu (0.52% CuEq) from 174.1 m, among ten holes in the fifth batch of Phase 2 South Zone assays. Other results include S046 with 128.0 m at 0.36% Cu (0.48% CuEq) from surface, S049 with 86.1 m at 0.51% Cu from 85.5 m, and S053 with 84.2 m at 0.50% Cu from 159.6 m. Phase 2 has completed 50 holes totalling 15,263.2 m, with South Zone resource drilling complete and Pillar Zone and geotechnical drilling continuing.
Drill resultsOroco Continues South Zone Success
Assay results from ten holes, S035 through S044, in the South Zone of the Santo Tomás copper project in Choix, Sinaloa, Mexico returned 57.4 m grading 0.72% CuEq from 108 m in S035, 103 m at 0.58% CuEq from 98 m in S039, 154 m at 0.51% CuEq from 131 m in S040, and 369.3 m at 0.45% CuEq from surface in S042. Holes S038 and S041 ended in mineralization about 200 m and 90 m below current PEA pit limits. Phase 2 has completed 42 holes totalling 12,649.3 m, with three rigs operating and drilling underway in the Pillar Zone.
Drill resultsOroco Drills 26.48m of 1.18% CuEq in South Zone
Hole S033 at the Santo Tomás copper project in Choix, Sinaloa, Mexico returned 114.7m at 0.44% Cu / 0.54% CuEq from 35.3m, including 26.48m at 0.90% Cu / 1.18% CuEq from 48.0m, in the third set of Phase 2 assays covering holes S027 and S030–S034. Holes S031 and S034 intersected mineralization west of the current inferred block model limits, while S027, S030 and S032 defined the South Zone's southern limit, with S030 returning 49m at 0.80% CuTot from 12m in mixed oxide-sulphide. Three rigs continue drilling, with a PFS targeted for Q2/Q3 2027.
Drill resultsOroco Reports Select Surface Sample of 7.57% Copper and Completion of Drone Magnetic Survey at Vainilla
A selective rock-chip sample from a historical working at El Platano returned 7.57% copper at the Vainilla Project in northern Sinaloa, Mexico; the sample is not representative of overall grade or continuity. Mapping defined three mineralized areas — El Platano, Mazomique and Cristina — with El Platano alteration mapped over approximately 600 metres by up to 250 metres. A drone magnetic survey covering about 3,114 hectares and 707-line kilometres was completed, and drilling permit applications have been initiated.
Drill resultsOroco Increases South Zone Certainty at Santo Tomás
The second set of Phase 2 assay results from the South Zone at the Santo Tomás copper project in Choix, Sinaloa, Mexico covers holes S025, S026, S028 and S029, with intercepts including 84.94m at 0.29% Cu / 0.33% CuEq and 90m at 0.41% Cu / 0.53% CuEq in S025, 48.6m at 0.56% Cu / 0.67% CuEq in S026, 44.52m at 0.38% Cu / 0.46% CuEq in S028, and 58.76m at 0.35% Cu / 0.43% CuEq in S029. Twenty-two holes totaling 6,709 m are complete, a third rig has been mobilized, and a Pre-Feasibility Study is targeted for Q2/Q3 2027.
NewsOroco Intersects 228 m of 0.49% CuEq and 212 m of 0.44% CuEq at Santo Tomás
Phase 2 resource drilling at the Santo Tomás copper project in Choix, Sinaloa, Mexico returned 228.55 m at 0.38% Cu / 0.49% CuEq (including 64.86 m at 0.53% Cu / 0.69% CuEq) in hole S022 and 212.33 m at 0.34% Cu / 0.44% CuEq in S023; S024 intersected intermittent mineralization confirming the western Inferred resource limit. Phase 2 has drilled 3,606 m in 14 holes, with four holes at the laboratory. A Pre-Feasibility Study is targeted for Q2/Q3 2027.
Drill resultsOroco Resource Corp. Appoints New CEO
Charles Cryer has been appointed Chief Executive Officer and a Director of Oroco Resource Corp., effective June 16, 2026. Cryer previously served over nine years with RFC Ambrian, including six years as Head of London, and held roles at Nomura International and Bank of America Merrill Lynch. Subject to TSX Venture Exchange acceptance, he was granted an option to purchase up to 900,000 common shares at $0.65 per share, exercisable for three years and vesting in five quarterly instalments of 180,000 shares.
ManagementOroco Increases Activity at Santo Tomás
A second diamond drill rig has been mobilized to the South Zone of the Santo Tomás copper project in Sinaloa State, Mexico, joining the first rig in the Phase 2 program. Six holes are complete with two in progress, and core from holes STPp-22 and STPp-23 has been submitted for assay. The program combines infill and confirmation drilling with hydrogeological, geotechnical and metallurgical work to support an updated Mineral Resource Estimate and Pre-Feasibility Study.
NewsOroco Announces Resignation of CEO
ManagementOroco Commences Phase 2 Drilling
Drill resultsOroco Issues Incentive Options
A total of 7,050,000 incentive stock options have been granted to 25 directors, officers, employees and consultants at an exercise price of $0.85 per share for a three-year term, subject to TSX Venture Exchange approval, with 3,425,000 of those going to officers, directors and senior management. Options vest one-quarter on grant and at the 4, 8 and 12-month anniversaries. Oroco now has 14,185,000 incentive options outstanding, or 4.4 percent of issued and outstanding shares.
CorporateOroco Closes Upsized C$23M Bought Deal Financing Led by Canaccord Genuity
A bought deal public offering of 60,526,340 units at C$0.38 per unit closed for gross proceeds of approximately C$23 million, including full exercise of the over-allotment option, led by Canaccord Genuity with Red Cloud Securities. Each unit includes one common share and one-half warrant exercisable at C$0.53 until January 15, 2029, with warrants expected to trade on the TSXV as OCO.WT from January 15, 2026. Proceeds will fund Pre-Feasibility Study drilling at the Santo Tomás copper project in Mexico, environmental and permitting work, and working capital.
FinancingOroco Files Prospectus Supplement in Connection with Bought Deal Public Offering
A prospectus supplement dated January 9, 2026 has been filed to the Company's April 23, 2025 base shelf prospectus, qualifying the distribution of 52,631,600 units at C$0.38 per unit for gross proceeds of approximately C$20.0 million. Each unit includes one common share and one-half warrant exercisable at C$0.53 for 36 months from closing. Canaccord Genuity Corp. leads the underwriting syndicate and holds an option for up to 7,894,740 additional units; closing is expected on or about January 14, 2026.
FinancingOroco Announces Bought Deal Financing Led by Canaccord Genuity
A bought deal financing of 39,474,000 units at C$0.38 per unit for gross proceeds of approximately C$15.0 million has been agreed with a syndicate led by Canaccord Genuity, with each unit including one common share and one-half warrant exercisable at C$0.53 for 36 months. A 15% over-allotment option for up to 5,921,100 additional units could raise total gross proceeds to about C$17.25 million. Proceeds will fund Pre-Feasibility Study drilling at the Santo Tomás copper project in Mexico, environmental and permitting work, and working capital; closing is expected on or about January 14, 2026.
FinancingOroco Announces Upsize of Bought Deal Financing Led by Canaccord Genuity
A previously announced bought deal public offering has been upsized to approximately C$20.0 million, consisting of 52,631,600 units at C$0.38 per unit, each unit comprising one common share and one-half warrant exercisable at C$0.53 for 36 months. The underwriters, led by Canaccord Genuity, hold an over-allotment option for up to 7,894,740 additional units, which would bring total gross proceeds to about C$23.0 million. Proceeds will fund Pre-Feasibility Study drilling at the Santo Tomás copper project in Mexico, environmental and permitting work, and working capital. Closing is expected on or about January 14, 2026.
Financing
202524 releases
Oroco Closes Final Tranche of Non-Brokered Private Placement
The second and final tranche of a non-brokered private placement closed with 2,500,000 units issued at US$0.20 per unit for gross proceeds of US$500,000, bringing the total to 10,154,995 units for US$2,030,999. Each unit includes one common share and one-half warrant exercisable at US$0.30 for 24 months from closing, with a hold period expiring March 14, 2026. Proceeds will advance the Santo Tomas Project in northwestern Mexico toward a planned Pre-Feasibility Study, with a Phase 2 drill program intended to begin in early 2026.
FinancingOroco Closes First Tranche of Private Placement Financing
An initial tranche of Oroco Resource Corp's non-brokered private placement, announced September 24, 2025, closed for gross proceeds of US$1,530,999 from 7,654,995 units at US$0.20 per unit, each unit comprising one share and one-half warrant exercisable at US$0.30 for 24 months. Subscribers were Mexico-based investors, including new independent director Faysal Rodriguez, who took 5 million units, and two strategic investors. Proceeds will advance the Santo Tomas Project in northwestern Mexico toward a planned Pre-Feasibility Study. Shares are subject to a hold period to March 6, 2026.
FinancingOroco Provides Financing Update
The non-brokered private placement announced September 25, 2025 is proceeding, for up to 18,000,000 Units at US$0.20 per Unit for gross proceeds of up to US$3.6 million, with an anticipated minimum of US$2.0 million. Each Unit includes one share and one-half warrant exercisable at US$0.30 for 24 months. A first tranche is expected to close early next week, with completion no later than November 13. Proceeds relate to Oroco's Santo Tomas Project in northern Sinaloa, Mexico; director Faysal Rodriguez's participation is a related-party transaction under NI 61-101.
FinancingOroco Announces Private Placement
A non-brokered private placement of up to 18,000,000 units at US$0.20 (approximately CDN$0.276) per unit for gross proceeds of up to US$3,600,000. Each unit comprises one common share and one half warrant exercisable at US$0.30 for 24 months from issue. Director Faysal Rodriguez has agreed to take 5,000,000 units for US$1,000,000. Proceeds are earmarked for the Santo Tomás Project in Sinaloa and Chihuahua States, Mexico, working capital and general corporate purposes, subject to TSX-V approval.
FinancingOroco Welcomes Faysal Rodriguez to its Board of Directors
Faysal Rodriguez has been appointed to the board of directors of Oroco Resource Corp. He is currently Senior Vice President, Mexico at Torex Gold Resources, with over 25 years of mining experience including roles at Goldcorp's El Sauzal mine, Glamis Gold, Agnico Eagle, Nyrstar, Geologix Explorations and Primero Mining, and served as General Manager of Torex's El Limón-Guajes complex from 2018. Oroco is advancing the Santo Tomás copper project in northwestern Mexico toward feasibility studies.
ManagementOroco Resource Corp. Announces Live Shareholder Town HallFeaturing Executive Chairman, Craig Dalziel and President, Ian Graham
A live virtual shareholder Town Hall will be held Wednesday, September 24, 2025, from 8:00 AM to 10:00 AM PDT with Executive Chairman Craig Dalziel and President Ian Graham, with registration via Zoom. The session will cover the Santo Tomás Copper Project in northwestern Mexico, including management, permitting progress, community engagement and next steps, followed by a live Q&A.
CorporateOroco Congratulates Hudbay Minerals Inc.
Oroco Resource Corp. commented on Hudbay Minerals' August 13, 2025 agreement with Mitsubishi Corporation, under which Mitsubishi will acquire a 30% interest in Hudbay's Copper World project in Arizona for US$600 million, comprising US$420 million at closing for the 30% equity interest and $180 million as a matching contribution within 18 months of closing. Oroco said the transaction supports its decision to advance the Santo Tomás copper project in northwestern Mexico to the Pre-Feasibility Study stage, following its August 20, 2024 Preliminary Economic Assessment.
NewsOroco Receives Positive Resolution from Mexico’s Environment Ministry
Mexico's federal environment ministry, SEMARNAT, issued a positive resolution to Oroco's informe preventivo covering planned drilling and exploration at the Santo Tomas Project in northwestern Mexico, determining the activities do not require an Environmental Impact Authorization and can proceed as described in the notice. Oroco holds a net 85.5% interest in the 1,173-hectare Core Concessions and 80% of a further 4,948 hectares, for a total project area of 6,121 hectares.
CorporateOroco Deepens its ESG Commitments to the Santo Tomas Region
A cooperation agreement has been signed with Sembrando Vida, a federal environmental and social program of the Government of Mexico, covering the municipality of Choix, Sinaloa, where Oroco's Santo Tomás Project is located. The parties will work on restoring degraded land, sustainable agriculture and regional ecological regeneration, with Oroco providing material, logistical and advisory support for native tree planting, land recovery and participant training. The Company is undertaking its next phase of technical studies at Santo Tomás.
CorporateOroco Receives Approval for Whittle Share Payment
TSX Venture Exchange approval has been received for the terms of Oroco Resource Corp's engagement of Whittle Consulting Ltd to complete a Strategic Option Study aimed at optimizing the mine plan and guiding pre-feasibility work at the Santo Tomas porphyry copper project in northwestern Mexico. Whittle will receive 1,560,000 common shares at a deemed $0.30 per share, covering US$342,000 of total fees of US$570,000, plus 780,000 options exercisable at $0.45 for 36 months. The study has commenced, with the final report anticipated in October.
CorporateOroco Options Highly Prospective Nearby Concession
An option agreement with Aztec Zinc de Mexico gives Oroco's subsidiary Minera Xochipala the right to acquire a 100% interest in the 2,974-hectare Vainilla Mineral Concession (Title No. 236,443) in the Choix District of northern Sinaloa, Mexico, adjacent to Oroco's Santo Tomás Project. Initial consideration is US$75,000 cash and 100,000 Oroco shares, maintained by semi-annual payments of US$25,000 and 100,000 shares, with exercise requiring US$500,000 and 2,000,000 shares, plus a 1.5% NSR royalty. Closing is subject to TSX Venture Exchange approval.
AcquisitionOroco Cancels Private Placement
The $1,500,000 non-brokered private placement announced on June 17, 2025 has been cancelled. Oroco holds a net 85.5% interest in the 1,173-hectare Core Concessions of the Santo Tomas Project in northwestern Mexico and an 80% interest in a further 7,861 hectares, for a total project area of 9,034 hectares.
FinancingOroco Engages Whittle Consulting Ltd.
Whittle Consulting Ltd. of Melbourne, Australia has been retained to complete a Strategic Option Study for Oroco's Santo Tomás porphyry copper project in northwestern Mexico, assessing alternative power sources, mining fleet electrification, processing technologies and tailings storage options, and refining pit size, stripping ratios and cut-off grades ahead of a Pre-Feasibility Study. The study will use the Mineral Resource Estimate from Oroco's Q3 2024 PEA with no additional data collection. Whittle will take 60% of its fee in Oroco shares, issued alongside the Company's next equity financing expected in 2025 and subject to TSX Venture Exchange approval.
CorporateOroco Announces Private Placement
A non-brokered private placement of up to 5,000,000 units at C$0.30 per unit for gross proceeds of up to C$1,500,000, with each unit comprising one common share and one warrant exercisable at C$0.45 for 36 months from issue. Proceeds are intended for advancement of the Santo Tomás Project in Sinaloa and Chihuahua States, Mexico, plus working capital and general corporate purposes. Closing is subject to regulatory approvals including the TSX Venture Exchange, with finder's fees payable and a four-month-plus-one-day hold period.
FinancingOroco Resource Corp. Announces Live Shareholder Townhall
A live virtual shareholder Townhall will be held on Wednesday, May 28, 2025 from 8:00 AM to 10:00 AM Pacific Daylight Time, hosted by Executive Chairman Craig Dalziel and President Ian Graham. The session will cover updates on the Santo Tomás Copper Project in northwestern Mexico, including permitting progress, community engagement and next steps, with a question-and-answer segment for participants.
CorporateOroco Announces Major Initiatives
Oroco Resource Corp. will supplement its regulatory permitting process for the Santo Tomás Copper Project in northwestern Mexico with an application to laterally shift a section of the river adjacent to the project area, north of the existing pit of the North Zone, to access resource identified in the 2024 Mineral Resource Estimate that was excluded from the 2024 Preliminary Economic Assessment mine plan. The Company has engaged Mexican environmental law firm Pontones & Ledesma and intends to apply to list its securities on the Toronto Stock Exchange.
NewsOroco Files Shelf Prospectus
A final short form base shelf prospectus has been filed, with a receipt obtained, with securities commissions in all Canadian provinces and territories excluding Quebec. The prospectus qualifies the distribution of up to C$75,000,000 of common shares, warrants, subscription receipts, units, debt securities or any combination, over the 25-month period it remains effective. Terms and use of proceeds for any offering would be set out in future prospectus supplements. Oroco holds interests in the 9,034-hectare Santo Tomas Project in northwestern Mexico.
FinancingSanto Tomas Project Presentation
Environmental baseline studies and the community consultation process for the Santo Tomas copper project in northwestern Mexico will commence immediately, following meetings with Mexican federal and state officials. The company presented at the Mexican Discoveries 2025 Conference last week and will participate in a Red Cloud Securities webinar on April 16 at 2:00pm EDT. Oroco holds a net 85.5% interest in the 1,173-hectare Core Concessions and 80% of 7,861 additional hectares, totalling 9,034 hectares.
CorporateAdvancing the Santo Tomás Project
Oroco's chairman Craig Dalziel and senior management met in Mexico City with Dr. Luis Rosendo Gutiérrez Romano, Undersecretary of the Mexican Economy, and other federal and state officials to discuss advancing the Santo Tomás copper project in Choix, Sinaloa. The meetings, initiated by Congressional Deputy Mario Zamora, addressed the project's potential for development, investment and regional economic growth. Oroco holds a net 85.5% interest in the 1,173-hectare Core Concessions and 80% of a further 7,861 hectares, totalling 9,034 hectares.
CorporateOroco Closes Non-Brokered Private Placement
A non-brokered private placement closed for gross proceeds of $2,303,555.75 through the sale of 9,214,223 units at $0.25 per unit, each unit comprising one share and one warrant exercisable at $0.40 for 24 months. Insiders via ATM Mining Corp. purchased 3,850,000 units, and finder's fees of $900 cash and 3,600 warrants are payable. Proceeds will advance the Santo Tomás Project in Sinaloa State, Mexico, plus working capital and general corporate purposes; hold period expires June 29, 2025.
FinancingOroco Announces Upsizing of Private Placement
Gross proceeds of $2,303,555.75 were received for an oversubscribed private placement of 9,214,223 units at $0.25 per unit, each unit comprising one common share and one warrant exercisable at $0.40 for 24 months from closing. The offering is subject to TSX Venture Exchange approval, and securities carry a 4-month hold period. Proceeds will fund advancement of the Santo Tomás Project in Sinaloa State, Mexico, plus working capital, corporate marketing and general corporate purposes. Finders fees may be paid to arm's-length finders.
FinancingOroco Private Placement Oversubscribed
The non-brokered private placement announced February 5, 2025 is oversubscribed, and Oroco is no longer accepting new subscriptions. The company intends to close the offering subject to receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. Oroco holds a net 85.5% interest in the 1,173-hectare Core Concessions of the Santo Tomas Project in northwestern Mexico and an 80% interest in a further 7,861 hectares.
FinancingOroco Amends Private Placement Terms for Gross Proceeds of Up to C$1.5 Million
The non-brokered private placement announced on January 27, 2025 has been amended to up to 6,000,000 units at C$0.25 per unit for gross proceeds of up to C$1,500,000, with Red Cloud Securities Inc. acting as finder. Each unit comprises one common share and one warrant exercisable at C$0.40 for 24 months from issue. Proceeds are intended for advancement of the Santo Tomás Project in Chihuahua State, Mexico, working capital and general corporate purposes, subject to TSX-V approval.
FinancingOroco Announces Private Placement for Gross Proceeds of Up to C$1.5 Million
A non-brokered private placement of up to 5,000,000 units at C$0.30 per unit for gross proceeds of up to C$1,500,000, with Red Cloud Securities Inc. acting as finder. Each unit includes one common share and a half warrant exercisable at C$0.45 for 24 months. Proceeds will fund advancement of the Santo Tomás Project in northwestern Mexico, working capital and general corporate purposes, subject to TSX Venture Exchange approval.
Financing
202410 releases
Oroco Provides Update on its 2024 AGM
Meeting materials for the Annual General Meeting scheduled for Thursday, December 12, 2024 have been posted on SEDAR+ and the Company's website because the ongoing Canada Post strike may prevent mailed copies from arriving before the Meeting. Proxy votes must be submitted by 2:00 p.m. (Vancouver time) on Tuesday, December 10, 2024. Meeting business includes receiving audited financial statements, re-appointing Davidson & Company LLP as auditor, electing directors, and approving continuation of the stock option plan. Shareholders may attend virtually but cannot vote on the video call.
CorporateOroco Provides Corporate Update
Preparations are underway for Phase 2 technical work at the Santo Tomas copper-molybdenum-gold-silver project in northwestern Mexico, intended to underpin an updated Mineral Resource Estimate with elevated resource classifications and an expanded Indicated Resource at South Zone sufficient to support a PFS-level report. Other activities include monitoring Supreme Court of Mexico decisions limiting the 2023 Mining Law amendments, community investment programs, and pursuing strategic financing. The August 2024 updated PEA outlined a 22.6-year life of mine and US$1.48 billion post-tax NPV.
CorporateOroco Announces Filing Of Technical Report And PEA Update Webinar
An NI 43-101 technical report and Preliminary Economic Assessment for the Santo Tomas copper project in Sinaloa, Mexico, dated August 20, 2024, has been filed on SEDAR and the company's website. The report contains no differences from the PEA results announced in the August 20, 2024 news release. A webinar to discuss the PEA and next steps is scheduled for Wednesday, August 28 at 11:00 AM PDT with CEO Richard Lock, Andrew Ware and Adam Smith.
Study resultsOroco Announces 22.2% After-Tax IRR and $1.48 Billion NPV for its Santo Tomas Project
A revised Preliminary Economic Assessment for the Santo Tomas porphyry copper project in Sinaloa State, Mexico, returned an after-tax NPV (8%) of US$1.48 billion and 22.2% IRR, with pre-tax figures of US$2.64 billion and 30.3%, and post-tax payback of 3.8 years. The staged open pit plan moves from 60,000 t/d to 120,000 t/d in year 8 over a 22.6-year life, producing 4,774 M lb payable copper at C1 cash costs of US$1.54/lb, with initial capital of US$1,103.5 million. The updated resource, effective July 23, 2024, totals 540.6 Mt indicated at 0.37% CuEq and 530.3 Mt inferred at 0.35% CuEq.
Study resultsOroco Announces Closing of Brokered Private Placement for Gross Proceeds of $6.3m
A brokered private placement of 14,051,127 units at $0.45 per unit closed for gross proceeds of $6,323,007.15, including partial exercise of the Agents' option. Each unit includes one common share and half a warrant exercisable at $0.65 for 24 months. Red Cloud Securities and Canaccord Genuity received a cash commission of $271,636.20, 603,636 broker warrants, a $44,893.43 advisory fee and 99,763 advisory warrants. Proceeds will advance the Santo Tomás Project in Sinaloa State, Mexico, and working capital.
FinancingOroco Announces Brokered Private Placement For Gross Proceeds Of C$6.0 Million
A brokered best efforts private placement for gross proceeds of C$6,000,000 has been agreed with Red Cloud Securities Inc. as lead agent and sole bookrunner, comprising 13,333,333 units at C$0.45 per unit, each unit consisting of one common share and one half warrant exercisable at C$0.65 for 24 months after closing. The agents hold an option for up to 2,222,222 additional units for up to C$1,000,000. Proceeds will advance the Santo Tomás Project in Chihuahua State, Mexico, and general working capital, with closing scheduled on or around June 6, 2024.
FinancingOroco Issues Incentive Options
A total of 6,235,000 incentive stock options have been granted to 33 directors, officers, employees and consultants at an exercise price of $0.75 per share with a 3-year term, subject to TSX Venture Exchange approval. Of the grant, 3,075,000 options went to officers and directors, vesting in four installments — one-quarter on grant and at the 3, 6 and 9-month anniversaries. Oroco now has 13,685,000 options outstanding, 6 percent of issued shares, at an average exercise price of $1.42.
CorporateOroco Completes Final Closing Of Non-Brokered Private Placements
A non-brokered private placement closed for net proceeds of $1,028,000 through the sale of 2,570,000 units at $0.40 per unit, each unit comprising one share and one warrant exercisable at $0.65 for 18 months from closing. An agent will receive 75,000 shares as finder's fees, with securities subject to a hold period expiring June 17, 2024. Proceeds will fund work on the Preliminary Economic Assessment for the Santo Tomas Project in northwestern Mexico, property maintenance and corporate overhead.
FinancingOroco Closes Non-Brokered Private Placement
A non-brokered private placement closed for gross proceeds of $1,454,302.80 through the sale of 3,635,757 units at $0.40 per unit, each unit comprising one share and one warrant exercisable at $0.65 for 18 months from closing. ATM Mining Corp., controlled by Executive Chairman Craig Dalziel, bought 150,000 units for $60,000, and 73,000 common shares will be paid as finder's fees. Proceeds will fund working capital and corporate overhead; shares are subject to a hold period expiring May 16, 2024.
FinancingOroco Announces Private Placement
A non-brokered private placement of up to 2,500,000 units at $0.40 per unit for gross proceeds of up to $1,000,000 has been launched, with each unit comprising one common share and one warrant exercisable at $0.65 for 18 months from closing. Net proceeds are intended for working capital and general corporate purposes. Closing is subject to TSX-V and other regulatory approvals, and finder's fees in cash, warrants and shares may be paid.
Financing
202311 releases
Oroco Files PEA Technical Report for Santo Tomas
An NI 43-101 Preliminary Economic Assessment technical report for the Santo Tomas copper project in Sinaloa, Mexico, dated October 11, 2023, has been filed on SEDAR and posted on Oroco's website. The report contains no differences from the PEA results announced on October 17, 2023, which identified Indicated resources of 561 Mt @ 0.37% CuEq and Inferred resources of 549 Mt @ 0.34% CuEq for the North and South Zones.
Study resultsOroco Closes Non-Brokered Private Placement
A non-brokered private placement closed for gross proceeds of $2,691,940 through the sale of 6,729,850 units at $0.40 per unit, each unit comprising one share and one warrant exercisable at $0.65 for 18 months. Insiders, including the Executive Chairman, CEO, President, CFO and Corporate Secretary, bought 770,000 units for $308,000. Shares are subject to a hold period expiring March 29, 2024, and proceeds will fund working capital, corporate overhead and exploration and development at the Santo Tomas Project in Mexico.
FinancingOroco Announces Private Placement
A non-brokered private placement of up to 6,250,000 units at $0.40 per unit will raise gross proceeds of up to $2,500,000. Each unit includes one common share and one warrant exercisable at $0.65 for 18 months from closing. Net proceeds are intended for working capital to advance the Santo Tomas project in northwestern Mexico and general corporate purposes, with closing subject to TSX Venture Exchange and other regulatory approvals and a four-month hold period.
FinancingOroco Announces $2.3 Billion Pre-Tax NPV in a PEA for the Santo Tomas Project
A Preliminary Economic Assessment for the Santo Tomas porphyry copper project in Sinaloa State, Mexico outlines a pre-tax NPV (8%) of US$2.33 billion and after-tax NPV of US$1.24 billion, with pre-tax IRR of 23.0% and after-tax IRR of 17.3%, after-tax payback of 5.0 years, initial capital of US$1,339.9 million and LOM C1 cash costs of US$1.66/lb Cu on a by-product basis. The staged open pit would run 60,000 t/d in year 1, expanding to 120,000 t/d in year 2 over a 20.1-year mine life, producing 4,749 M lb payable copper. An updated resource effective October 11, 2023 totals 561.0 Mt Indicated at 0.33% Cu and 549.1 Mt Inferred at 0.31% Cu.
Study resultsOroco Closes Non-Brokered Private Placement
A fully subscribed non-brokered private placement closed for gross proceeds of $1,750,000 through the sale of 2,692,308 units at $0.65 per unit, each unit comprising one share and one warrant exercisable at $0.90 for 24 months. Shares are subject to a hold period expiring December 15, 2023, and conditional TSX Venture Exchange approval has been received. ATM Mining Corp. purchased 130,308 units and CEO Richard Lock purchased 40,026 units. Proceeds will fund exploration and development, working capital and corporate overhead.
FinancingOroco Announces Filing Of Technical Report For The Santo Tomas Project
An NI 43-101 technical report supporting the mineral resource estimate for the Santo Tomas Project in Sinaloa, Mexico has been filed, with an effective date of April 21, 2023. The report was prepared by Ausenco Engineering USA South Inc., Ausenco Engineering Canada, Inc., SRK Consulting (US), Inc. and SRK Consulting (Canada), and supports the resource estimate previously reported in Oroco's May 3, 2023 news release. It is available on SEDAR and the company website.
Study resultsOroco Completes Phase One Drill Program at Santo Tomas
Final two holes of the 2021-2023 North Zone drill program at the Santo Tomas property in northwestern Mexico returned 228.5 m of 0.465% CuEQ in hole N046 and 387.4 m of 0.498% CuEQ in hole N047, from 1,460 m of drilling. The North Zone program totalled 47 diamond drill holes and 30,909 m, with 48,481 m in 76 holes drilled project-wide. The results were not in the recent Mineral Resource Estimate but will be included in the upcoming Preliminary Economic Assessment.
Drill resultsOroco Announces Santo Tomas Mineral Resource Estimate
An SRK-prepared mineral resource estimate for the Santo Tomas porphyry copper project in Sinaloa State, Mexico, effective April 21, 2023, reports indicated sulphide resources of 487.3 Mt at 0.36% CuEq (3,864 Mlbs CuEq) and inferred sulphide resources of 599.9 Mt at 0.36% CuEq (4,697 Mlbs CuEq), at a 0.15% Cu cut-off and constrained within an economic pit shell. The estimate is based on 62,678 m of drilling in 156 holes. Oroco plans to proceed with a Preliminary Economic Assessment, with the NI 43-101 technical report to be filed within 45 days.
Resource updateOroco Issues Correction Of Drill Results For Drill Hole N044 - Updated
Assay results for drill hole N044 at the Santo Tomas property in NW Mexico, reported on April 20, 2023, have been corrected following a data transfer error in calculations by a third-party consulting firm. The interval from 289.6 m to 642.0 m (352.5 m length) is now stated as 0.42% Cu, 0.006% Mo, 0.036 g/t Au, 3.13 g/t Ag and 0.46% CuEq, down from 0.83% Cu and 0.93% CuEq. No other information in prior releases is affected.
Drill resultsOroco Drills 353 M of 0.93% Cu Equivalent at Santo Tomas
Drill hole N044 at the Santo Tomas property in northwestern Mexico returned 352.5 m of 0.93% CuEq from 289.6 m, and N045 returned 329.8 m of 0.50% CuEq from 67.2 m, together representing 1,553 m of drilling. The North Zone drill program supporting a planned Preliminary Economic Assessment is now complete at 47 holes and 30,909 m, with assays for holes N046 and N047 pending. Total 2021-2023 drilling stands at 48,481 m in 76 holes.
Drill resultsOroco Announces Grant of Stock Options
450,000 incentive stock options have been granted to Richard Lock, CEO and Director, exercisable at $1.10 per share for a three-year term expiring April 3, 2026. Of these, 150,000 vest immediately, with a further 150,000 vesting on each of July 3, 2023 and October 3, 2023. The grant is subject to TSX Venture Exchange approval, and any shares issued on exercise carry a four month and one day hold period.
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