Northwire Canada EditionTuesday, September 15, 2026
Northwire
GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8% GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8%
Production / Operations Routine +

Oroco Resource adds second drill rig at Santo Tomas

Oroco Ramps Drilling at Santo Tomas Amidst CEO Transition

Executive Summary
  • Oroco Resource Corp. has mobilized a second diamond drill rig to its Santo Tomas copper project in Mexico as of April 22, 2026.
  • The expanded drilling activity is intended to accelerate Phase 2 drilling programs and support an updated Mineral Resource Estimate (MRE) and Pre-Feasibility Study (PFS).
  • Progress update indicates six drill holes have been completed with two additional holes currently in progress.
  • Core from drill holes STPH2-22 and STPH2-23 has been logged, sampled, and submitted for assay.
  • The program focuses on infill and confirmation drilling to upgrade resource classification in the South zone.
  • Workstreams include hydrogeological, geotechnical, and metallurgical inputs required for the PFS.
Material Impact
  • Expectation vs. Reality: This news is consistent with previous announcements regarding Phase 2 mobilization (February 2026) and the January 2026 financing which earmarked funds specifically for this drilling program. It does not contain unexpected data or resource upgrades.
  • Operational Continuity: Despite the CEO resignation announced on March 30, 2026, operations continue under existing senior management and technical teams, mitigating immediate operational risk.
  • Capital Efficiency: The addition of a second rig increases cash burn rates but aligns with the C$23 million raised in January to fund PFS workstreams.
  • Market Reaction: As this is expected progress rather than a fundamental value inflection point (like a resource upgrade or financing close), the material impact on stock price is likely neutral to mildly positive, serving as confirmation of execution rather than a catalyst for re-rating.
OCO · Price
Company Overview
  • Company: Oroco Resource Corp. is a development-stage mining company focused on the Santo Tomas porphyry copper project in Sinaloa, Mexico.
  • Flagship Project: Santo Tomas Copper Porphyry Project.
    • Location: Municipality of Choix, Sinaloa, Mexico (near Port of Topolobampo).
    • Status: Development (PEA completed; moving toward PFS).
    • Ownership: 87% net interest in Core Concessions (1,173 ha) and 80% interest in surrounding concessions.
  • Resource Estimate (August 2024):
    • Indicated Resource: 540.6 million tonnes at 0.37% CuEq.
    • Inferred Resource: 530.3 million tonnes at 0.35% CuEq.
  • Economic Study (PEA):
    • Life of Mine: 22.6 years.
    • After-tax NPV (8%): US$1.48 billion.
    • IRR: 22.2%.
Read the original news release →

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