Xochipala Project

 

The Xochipala Project, Guerrero State

Oroco holds a 100% interest in two contiguous mineral concessions in Guerrero, Mexico; Celia Generosa and Celia Gene, totaling 193 hectares and together called the Xochipala Project.

“The Xochipala claims cover ground in the Guerrero Gold Belt sufficient to potentially generate reserves greater than 1 million ounces gold in ore bodies similar to the productive high-grade ore bodies that have been discovered in the past within the region.” (Report on the Xochipala Property “Morelos” National Reserve District, Guerrero, Mexico, Prepared by Tawn Albinson F., M.Sc., for Britannia Gold Corporation, 1997, the “Albinson Report”)

Oroco’s Xochipala Project is located in the southeast extreme of the original Morelos National Mining Reserve, a 49,400 ha federal mineral reserve which includes the most promising and expanding gold reserves in Mexico. This region encompasses a northwest trend of intrusions with associated gold bearing iron skarn deposits and is part of a wider area which has come to be known as the Guerrero Gold Belt (the “GGB”).

HIGH GRADE UNDERGROUND MINERALIZATION AT THE XOCHIPALA PROJECT

The GGB is currently the focus of aggressive exploration, delineation, development, and mining by Canadian and Mexican majors. Teck Cominco, Goldcorp and Grupo Mexico are exploring and delineating gold reserves in the GGB and to date have discovered in excess of 12 million ounces of gold. Regionally, several multi million ounce gold deposits related to skarns along the peripheries of felsic to intermediate intrusions have recently been identified. These include the El Limon deposit as well as the Nukay and Todos Santos deposits, and approximately two kilometres from the Xochipala Project boundary, Goldcorp’s Los Filos-El Bermejal mine, forecast to produce 280,000 ounces of gold in 2008. Oroco’s Celia Generosa and Celia Gene concessions contain mineralization in very well defined structures that outcrop for over one kilometre and were the site of some of the earliest gold mining in the region from a number of small underground workings. These concessions host intrusives of similar age and composition and several areas of skarn mineralization with significant associated gold assays. Past work, including exploration and artisanal mining, has focused on the high grade showings on the properties. The exploration program at Xochipala will focus on the high grade showings on the properties and potential for medium to lower grade deposits amenable to open pit mining. The project area is well served by a network of local roads and the principal centers of population are Xochipala just one kilometre from the property boundary, and the State capital of Chilpancingo approximately 30 kilometres away by good paved road. The district is served by hydroelectric power from the Caracol dam and water is locally available. A large trained labour pool is locally available.

THE SALVADOR CONCESSION, GUERRERO STATE

Oroco hold a 100% interest in the 100 hectare Salvador concession. The property hosts copper-magnetite-(gold) mineralization.

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