Oroco Resource (OCO-V) received a tidy lift from an otherwise gloomy market after it announced 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:
- Hole CP013 — 10.7 metres averaging 0.95 grams gold, 9.7 grams silver, 0.62% lead and 1.58% zinc.
- Hole CP014 1 metre averaging 18.50 grams gold, 85.7 grams silver, 0.31% lead and 1.65% zinc.
- Hole CP015 intersected 2.5 metres averaging 0.72 grams gold, 55.2 grams silver, 0.17% copper, 2.94% lead and 7.94% zinc.
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 to the north.
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 totaling 2,523 ha.
In Toronto on Oct. 8 its shares were up 40% or 4 to 14 on 9,000 shares traded.
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