Oroco Resource Corp (OCO.V) has been drilling the Brasiles zone of the Santo Tomas project, located on the northern bank of the Fuerte River. Six holes have been completed as part of this first drill program, and Oroco has released the assay results from five of these holes.
The first two holes came up empty. That was perhaps a bit surprising as those holes were actually designed to drill-test an area where historical data suggested three historical holes were drilled. As the collars were not detected ànd as the holes came up empty, the logical conclusion here is that the historical data may contain some sloppy work (fortunately the main copper-bearing porphyry body at Santo Tomas is well documented and Oroco’s drill results have confirmed the historical data so the ‘sloppy’ work seems to be isolated to the Brasiles zone).
The other three holes Oroco has reported assay results on did contain copper. Hole 3 was okay with 166 meters of 0.42% copper-equivalent while hole 5 sported a thick interval of almost 214 meters containing 0.33% copper-equivalent. In both holes, the mineralization started pretty deep down-hole so it remains to be seen how the pieces of the puzzle may fall into place. The encountered mineralization also confirms the Santo Tomas zone continues on the other side of the River. That’s encouraging as this confirms the results of the 3D IP survey completed in 2021 which indicated the low resistivity runs for about 3.5 kilometers north of the North Zone.
Hole 4 at Brasiles contained three distinct areas of mineralization albeit relatively narrow with 24 meters of 0.39% CuEq, 14 meters of 0.19% CuEq and 16 meters containing 0.16% CuEq. Truth be told, we were very disappointed with the assay results from hole 4. When we visited the Santo Tomas project in March, hole 4 had just been completed and the geologists seemed to be pretty excited about it. Seeing now how the hole is without any doubt the worst of the three holes assay results were reported on, we are wondering how this discrepancy could be explained. But it once again shows that only lab results should be relied upon, no matter how good the core looks like and no matter what an XRF hand gun tells you.
So, mixed feelings. Brasiles has always been the icing on the cake as the main body at Santo Tomas is where the initial billion tonnes of rock will likely be found.
Meanwhile, drilling activities remain suspended as the Mexican army is still executing a special operation in the region to roll up certain criminal activities. From what we’ve heard, it sounds like it’s a family dispute causing chaos rather than a cartel-focused operation and the situation is quietening down again. This should hopefully enable Oroco to get back in the field in the next few weeks.
Disclosure: The author holds a long position in Oroco Resource Corp. Oroco is a sponsor of the website. Please read our disclaimer.
