OROCO ISSUES INCENTIVE OPTIONS
10 April 2024 - 1:49AM
Oroco Resource Corp. (
TSX-V: OCO, OTC: ORRCF) (
“Oroco” or
“the Company”) announces that pursuant to the Company's Stock
Option Plan and subject to approval by the TSX Venture Exchange, it
has granted a total of 6,235,000 incentive stock options to 33
directors, officers, employees and consultants of the Company at an
exercise price of $0.75 per share, with a term of 3 years. Of
that total option grant, 3,075,000 incentive options have been
granted to officers and directors of the Company. All options
will vest in 4 installments with one-quarter vesting on the grant
and thereafter upon each of the 3, 6, and 9-month anniversaries of
the grant. The Company now has 13,685,000 incentive options
outstanding, equating to 6 percent of the currently issued and
outstanding shares of the Company, at an average exercise price of
$1.42 per share.
ABOUT OROCO:
The Company holds a net 73.2% interest in the
collective 1,172.9 ha Core Concessions of the Santo Tomas Project
in NW Mexico and may increase that majority interest up to an 85.5%
interest with a project investment of up to CAD$30 million.
The Company also holds a 77.5% interest in 7,807.9 ha of mineral
concessions surrounding and adjacent to the Core Concessions (for a
total project area of 22,192 acres). The Project is situated
within the Santo Tomas District, which extends from Santo Tomas up
to the Jinchuan Group’s Bahuerachi project, approximately 14 km to
the northeast. Santo Tomas hosts a significant copper
porphyry deposit defined by prior exploration spanning the period
from 1968 to 1994. During that time, the property was tested by
over 100 diamond and reverse circulation drill holes, totalling
approximately 30,000 meters. Based on data generated by these drill
programs, a historical Prefeasibility Study was completed by
Bateman Engineering Inc. in 1994.
The Santo Tomas Project is located within 160 km
of the Pacific deep-water port at Topolobampo and is serviced via
highway and proximal rail (and parallel corridors of trunk grid
power lines and natural gas) through the city of Los Mochis to the
northern city of Choix. The property is reached by a 32 km access
road originally built to service Goldcorp’s El Sauzal Mine in
Chihuahua State.
For further information, please
contact:
Mr. Craig Dalziel, Executive Chairman
Oroco Resource Corp.
Tel: 604-688-6200
www.orocoresourcecorp.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
Christy Fabros
Oroco Resource Corp.
(604) 688-6200
info@orocoresourcecorp.com
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