Oroco Resource Corp (OCO.V) has received the final data for its 3D IP survey which was recently completed. The survey took about six months, but it will likely be time well spent as the IP survey will be a very useful tool to pin-point the drill rigs to the right targets.
According to the company:
‘The final dataset indicates a substantial continuation of Santo Tomas chargeability along strike and to depth, inferring that the mineralized system is much more extensive than was defined historically. In addition to the strike continuity, chargeability features at South Zone and Brasiles protrude east of their anticipated distribution, and a distinct feature of intermediate chargeability is developed westward below a mapped limestone bluff at Brasiles.’
This doesn’t really come as a surprise as the widespread copper mineralization had already been well documented but the results if the IP survey are confirming all historical data as there is a very close correlation between the IP results and the historically drilled mineralization, so while simply finding chargeabilities and resistivities doesn’t guarantee the existence of copper, the combination of finding the anomalies with the known copper-bearing mineralization increases the odds of the are actually being mineralized as well.
The next step for Oroco will be drilling. A multi-rig drill program is in the works and the truth machine will be able to tell us sooner rather than later how excited we should be about Santo Tomas. Expect a news-packed 24 months after the summer period.
Disclosure: The author holds a long position in all stocks mentioned in this article. Please read our disclaimer.
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