OROCO COMPLETES AIRBORNE MANETICS SURVEY AND UPDATES 3D IP SURVEY PROGRESS AT SANTO TOMAS

Vancouver, March 03, 2021 (GLOBE NEWSWIRE) -- Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce the successful completion of the airborne component of a helicopter magnetics survey over the Santo Tomas Project (“the Project”), and to provide an update on the 3D induced polarization survey in progress on the Project.

Magnetics Survey.  The Company has completed a helicopter magnetics survey performed by Terraquest Ltd. (“TQ”) using a high sensitivity cesium vapour magnetometer, a gamma ray spectrometer and TQ’s proprietary Matrix very low frequency electromagnetic (“VLFEM”) system.  The survey was completed with the collection of 2,231 line kilometers of data with an east-west tie-line separation of 50 metres and a north-south tie-line separation of 500 metres.  Independent quality monitoring of the survey is being provided by Condor Consulting, Inc. of Lakewood, CO. The Company expects to receive the processed magnetics, VLFEM and radiometric data from TQ within the next two months. The Company will then analyze the data to assist in the mapping of the sub-surface geology of the Project. 

3D IP Survey. Further to its news release of January 27, 2021, the Company has completed the deep, three-dimensional Induced Polarization geophysical survey (“3D IP”) over the south eastern extension to the project survey grid on the South Zone of the Project, closing off the eastern extension of the South Zone chargeability feature.

The Company has now relocated the survey team to the Brasiles Zone in the northern part of the grid and commenced the survey of the continuation of NNE striking, west-dipping, chargeability-high response which the 3D IP survey has already demonstrated extends from the North Zone to the prominent gossan of the Brasiles Zone. The Company is taking advantage of the current low water levels in the Huites Reservoir to collect data from previously inaccessible areas, and will continue the 3d IP survey for another 800 metres to the north.  The Company may extend the survey further in the event that the Brasiles chargeability feature has not been closed off.  Subject to such extensions, the DCIP survey is approximately 80% complete.