OROCO ANNOUNCES SIGNIFICANT 3D IP SURVEY RESULTS

Vancouver, Canada, Jan. 27, 2021 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO, US OTC: ORRCF, BF: OR6) ("Oroco" or "the Company") is pleased to announce significant results from the deep, three-dimensional, Induced Polarization (“3D IP”) geophysical survey of its Santo Tomas porphyry copper project in Mexico.  The survey is now approximately 80% complete, and Oroco has received preliminary inversion data for all stations surveyed to date.  The preliminary inversion model has successfully mapped the resistivity and chargeability characteristics along a swath 2.1 km wide by 4.3 km along strike over the South Zone, North Zone and part of the Brasiles Zone.  The survey has reached the southern fringe of the prominent Brasiles zone gossans.  Geophysical crews have now re-mobilized to complete the planned program and to prepare additional survey lines to enlarge the north and south-east extents of the current survey area.  The Company has high confidence in the survey results.

"The preliminary 3D IP inversion modelling has revealed an extensive area of strong chargeability response that encloses the known North Zone deposit and extends beyond the historical drilling to the north, the west and to depth,” said Craig Dalziel, Oroco’s CEO.  “The response broadens below the North Zone and extends northward under the Brasiles limestone cap.  It is particularly informative and instructive.  The first 800 m of modelling of the Brasiles Zone indicates that the North and Brasiles Zones are a contiguous exploration target spanning an average of one kilometer in width and a minimum of two kilometers along strike at the 100 m level elevation.  The model remains open to the north.  In addition, the survey very importantly demonstrates a strong correlation between the chargeability features and the historical drill results in the South and North Zones as well as significant exploration potential lateral to both.  In short, we are extremely pleased with the survey results."

The preliminary survey data support the following observations:

• Chargeability:  The preliminary inversion model clearly identifies the known sulphide mineralization in the central axis areas of the South and North Zone deposits and appears to map this parameter to a depth of approximately 600 meters.
• South Zone:  Results show a chargeability-high and resistivity-low response spanning 1,000 m wide by 1,200 m long in horizontal plan view that correlates well with the 10 widely spaced historical drill holes.  The response is located below capping volcanic and limestone units and above the contact with an inferred Laramide batholith exposed to the south and west of the South Zone.  The responses define a wedge 200 to 400 m thick at the western limit, increasing to 600 m on the surveyed area's eastern fringe.  The responses are open at depth and to the east.  The South Zone survey will be extended eastward to better constrain the response.
• North Zone:  A 1,000 m wide, strong chargeability-high response is broader than indicated from historical drilling.  Notably, the chargeability-high response extends westward of the Company's 3D geological model of the mineral deposit (the 2009 Gradeshell of Cu > 0.30%), under the concealing limestone cap of the Santo Tomas ridge.  Responses extend to the 600 m depth-limit of the 3D IP survey, which is often significantly deeper than the historical drilling.  Results also indicate drill targets that lie at a shallower depth below the Santo Tomas ridge than previously estimated.
• North Zone to Brasiles Zone:  3D IP preliminary inversion modelling delineates an NNE striking, west-dipping, chargeability-high response extending from the North Zone to the prominent gossan of the Brasiles Zone.  These results demonstrate a shallow-seated, chargeability-high response beneath the Brasiles limestone horizon, similar to the North Zone.  (See the attached Figure 2, Longitudinal Section P-20.)

The survey is being undertaken by DIAS Geophysical of Saskatoon, SK ("DIAS") and utilizes their DIAS32 direct current resistivity and induced polarization ("DCIP") system using a rolling layout of transmitter locations and a large receiver array that is advancing the survey in successive swaths from the south towards the north.  The preliminary inversion information will be subject to additional quality control procedures and certain modelling constraints from Oroco's 3D geological model when the final data set is obtained.  The DIAS Geophysical DCIP system's novel design has enabled surveying of rugged cliffs and areas that are not otherwise accessible for conventional induced polarization systems.  The method also provides coverage to depth and is a robust method for drill targeting.