Oroco Resource Corp. announced the receipt of additional assay results from its drilling campaign at the Santo Tomas property in northwestern Mexico, having received the drill results from Holes N004 to N008 in the North Zone deposit. Assay results through the first eight drill holes have now been received.

Notably, the best intersection in the 2021 drill program was returned by drill hole N008: a true thickness of 328.3 m of 0.45% Copper Equivalent. A nearby hole, N004, was drilled to test the strong Chargeability anomaly that extends westward from N008 and the known North Zone deposit. A zone of Laramide intrusion and altered and copper mineralized volcanic rocks in N004 confirms the prospectivity of the strong Chargeability anomaly, more than doubling the width of the North Zone deposit target at the 200 m elevation,.

This newly confirmed target lies on the western flank of the North Zone deposit, concealed beneath a blanket of limestone beds. Before ending drilling operations for the seasonal break, 12 drill holes were completed (11 in the North Zone), totalling 8,455 m of diamond drilling, mostly in HQ core size. Drilling operations will re-commence on the North Zone within two weeks.

Drilling on the Brasiles Zone has re-commenced with Hole B002, which was in progress prior to the break. The Company is very pleased that drilling results continue to confirm the following: Copper grades in holes N001 to N003, and N006 to N008 are comparable to the historical drilling reported on each of the cross-sections drilled to date. Results continue to confirm the geological conclusions and the 2009 Gradeshell model of Cu > 0.3% (the “2009 Gradeshell Model”) contained in the current Technical Report (the “Technical Report”) (Bridge, 2019: See SEDAR, or the Company's website www.orocoresourcecorp.com/projects/technical-reports/); Geological logging indicates copper is present as chalcopyrite and bornite dissemination and vein fillings.

Pyrite is relatively sparse in the main drill intersections. Sulphide mineralization in the main intersections on the North Zone are hosted in strongly potassic-altered volcanic and intrusive rocks with an overprint of phyllic alteration; Molybdenum, gold, and silver are elevated in the core across the width of the North Zone and provide an approximate 15% contribution to the copper equivalent grade, without factoring for metallurgical recoveries; Fracturing, Laramide intrusive dikes, mylonite zones, veining and sulphide mineralization are controlled by faulting co-eval with the formation of the North Zone deposit. The deposit is confirmed in drilling to have a strike of N20°E and a dip of 50-55°W, as reported in the Technical Report.

The Santo Tomas Cu-Mo-Au porphyry deposit is an example of the geologic style of Laramide-age porphyry copper deposits in the southwestern United States and northwestern Mexico. Historical Pre-Feasibility Studies, recent 3D modelling of historical drilling and several new programs of geophysical surveying have defined drill targets both for confirmation of historical mineral resource estimates and for exploration for additional resources. The 2021 drill program commenced on the central North Zone mineral deposit and has now spanned 600 m of strike length on the North Zone.

Historical drilling from 1968 to 1994 was primarily vertical and unsuited to defining the full width and depth of the North Zone. The 2021 program is based on angled drill holes oriented perpendicular to the re-modelled strike and dip of the deposit and is the first program that features drill holes that pass from the hanging wall of the North Zone deposit into the footwall and which also features a full suite of assay information that includes copper, molybdenum, gold and silver.