Oroco rises on assays from Cerro Preito

Oroco Resource (OCO-v) received a wee lift on drill results from its Cerro Prieto property, in Sonora State, Mexico.

A total of 22 drill holes have been drilled with all hitting the mineralized shear zone. The latest results, however, are drawn from seven holes.

The program was highlighted by: 10.7 metres grading 0.95 gram gold, 9.7 grams silver, 0.62% lead and 1.58% zinc in hole 13; 1 metre averaging 18.5 grams gold, 85.7 grams silver, 0.31% lead and 1.65% zinc in hole 14; and 2.5 metres averaging 0.72 gram gold, 55.2 grams silver, 0.17% copper, 2.94% lead and 7.94% zinc in hole 15.

All intersects are measured as true thicknesses.

The holes were drilled at the southern end of the mineralized shear zone, which is known to have lower grades than the north end.

Oroco says trenching continues along the strike length of the mineralized zone on surface with assays due by the end of October. After that time, the company says it will formalize its plan for a second phase of drilling.

Vancouver-based Oroco holds a 100% interest in Cerro Prieto, which is made up of three mineral concessions totalling 25 sq. km.

In Toronto on the results, its shares shot up 40% or 4 to 14 on 9,000 shares traded.