OROCO ISSUES INCENTIVE OPTIONS
03 May 2022 - 10:00PM
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,
the Company has issued a total of 6,850,000 incentive stock options
at an exercise price of $2.05 per share with a term of three
years. Of that total, 3,425,000 incentive options have been
issued to officers and directors of the Company. In addition,
the Company is cancelling 4,475,000 incentive options, leaving the
Company with 11,757,000 incentive options issued and outstanding,
that being 57% of the number allowed by TSX-V policies and the
Company’s Stock Option Plan.
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.
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.
Mr. Craig Dalziel, Executive Chairman
Oroco Resource Corp.
(604) 688-6200
info@orocoresourcecorp.com
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