Northwire Canada EditionMonday, November 2, 2026
Northwire
⌕
Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8% Gold 3,898.90 −3.3% Silver 49.28 −5.9% Copper 6.48 −1.8% Oil 104.12 +2.1% Palladium 987.70 −1.7% HCH 1.25 −3.9% CRD 0.040 −20.0% ENEV 0.005 +0.0% MOON 5.23 −7.9% ORE 2.56 −4.8% ASE 0.620 −14.5% LKY 0.005 + SOI 0.165 −5.7% ECR 0.190 −5.0% OZ 0.240 −9.4% ELEC 0.110 +4.8% WHY 0.260 −3.7% PHD 0.030 −33.3% OMI 0.220 −10.2% EML 0.105 +0.0% TECT 1.37 −2.8%
Resource Estimate Routine +

Oroco Increases South Zone Certainty at Santo Tomas

Executive Summary
  • Oroco Resource Corp. released the second set of assay results from its Phase 2 drilling program at the Santo Tomás copper project in Mexico, covering holes S025, S026, S028, and S029.
  • Results confirm a near-surface, low-strip copper resource that aligns with the August 2024 Technical Report block model.
  • Elevated grades in the southwest South Zone support early access development plans.
  • Phase 2 drilling is actively converting Inferred resources to Indicated classification and gathering geotechnical, hydrogeological, and metallurgical data for a Pre-Feasibility Study (PFS) targeted for Q2/Q3 2027.
  • 22 drill holes totaling 6,709 meters have been completed, with a third rig now mobilized to the site.
  • The Copper Equivalent (CuEq) methodology uses updated trailing-average metal prices (Cu $5.00/lb, Mo $25.75/lb, Au $4,070/oz, Ag $56.50/oz).
  • Management confirms the program is delivering on its objective to increase resource certainty for mine planning and the upcoming PFS.
Material Impact
  • The news is a routine validation of the August 2024 Preliminary Economic Assessment (PEA). It confirms the geological block model and supports the planned PFS timeline without introducing new economic metrics or resource upgrades.
  • The results are expected and incremental, serving as a necessary step to de-risk the project for the PFS. There is no material change to the company's valuation or development pathway.
  • The announcement does not trigger a market-moving event but provides positive confirmation that the project remains on track technically.
OCO · Price
Company Overview
  • Oroco Resource Corp. is focused on developing the Santo Tomás porphyry copper project in Sinaloa, Mexico.
  • The company holds an 87% net interest in the 1,173-hectare core concessions and an 80% interest in surrounding concessions.
  • The August 2024 PEA outlines a staged open-pit operation ramping from 60,000 t/d to 120,000 t/d over a 22.6-year life of mine.
  • Economic metrics from the PEA include an after-tax NPV8% of US$1.48 billion and an after-tax IRR of 22.2%.
  • The project benefits from proximity to the deep-water port of Topolobampo, highway and rail access, and grid power.
  • Oroco has also secured an exclusive option to acquire the Vainilla concession (~2,974 ha), which contains skarn, breccia pipe, and vein targets that could provide near-term exploration upside.
Read the original news release →

More from Oroco Resource Corp.