Update For The Week Ending November 14, 2022

The week was characterized by four (4) hole completions (N042, N043, S009 and S010) and a few drill moves, but production was good with some 1,234m drilled. Drilling was campaigned at six locations, N042, N043, S009, S010, S011 and S012.

Drilling at North Zone is now in demobilization with all North Zone rigs slated to depart during the week ahead. We are very grateful to drill contractor, Gavilan and their team. The Oroco owned rig has been repaired and returned to site, and that drill will remain on standby into the new year.

Oroco’s Hydrocore 500 drill rig being test run (left) and Andrea re-logging the core storage facility.

Since last week we’ve collared S014: above, at ~ 129m chalcopyrite, with some molybdenum mineralization.

The South Zone drills will continue with the South Zone program through November / early December. This maintains on-schedule drilling progress against the plans for PEA requirements prior to the Christmas break shutdown.

Some 489 samples (including duplicates and standards) were shipped from Ranchito to the assay lab during the week: these samples included material from holes N042, S008, S009 and S010.

Geological modeling of the North Zone is being accelerated as drilling approaches completion.

Metallurgical work is proceeding - initial comminution drop-weight tests and preliminary rougher kinetic tests to establish indicative flotation responses have been completed.

We continue to enjoy good weather conditions, and we are continuing our community mapping and engagement. The primary schools’ environmental education and IT implementation to three further schools comprised our Community focus during the week. The initiative grew over the last 18 months from a small concept, and has culminated in ALL elementary students in Choix now having access to computers and digital learning. The initiative was catalysed by local engagement with teachers, supported by students in Vancouver and given major financial impetus by Oroco's Founders and local partner, Ubaldo Treviso.

Photos from the amazing finale to our Choix elementary schools’ environmental awareness campaign last week!

Students and staff from three Choix schools – following cleanup in the area of the city gate.

Oroco shareholders and former British Columbia school principals, Mo (left) and Tony Rainbow (right), in support of the environment drive! Juntos Somos Mas!

Learning in action!

Poster projects on display!

Doing the work and showing the way!


Doris Castro, Choix office manager and event co-ordinator, with the three principals: Chromebooks & portable charging stations visible. T-shirts & poster showcase the initiative emblem and motto – ‘Juntos Somos Mas’ / ‘Together we are More’

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These historical resource estimate models are based upon historical resource estimates prepared by John Thornton in 2011. While, in the opinion of Dane A. Bridge, author of the revised NI 43-101 standard technical report, Geology, Mineralization and Exploration of the Santo Tomas Cu-(Mo-Au-Ag) Porphyry Deposit, Sinaloa, Mexico dated April 21, 2020 (the “Report”), reliable estimation practices were used, in order to upgrade or verify the historical estimations, resampling and assay of historical drill samples, twinning of historical drill holes, and a new program of regularly spaced drilling is required. No qualified person has undertaken sufficient work to classify the current mineral resources or mineral reserves upon which these models are based and the Company is not treating the estimates as current estimates of the mineral resources. The Company gives no assurance that either these models or the historical resource estimates upon which they are based are accurate, and does not undertake any obligation to update the models or to release publicly any update or revisions of the resource estimates except as required by applicable securities law. The reader is cautioned not to rely upon these models or the historical resource estimates upon which they are based.

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