Oro X Mobilizes Field Teams for Coriorcco Exploration
- Program will include IP survey and sampling across Coriorcco Dome
- 2021 exploration program is a key step towards establishing an initial resource estimate at Coriorcco
- Work to commence first week of February 2021
VANCOUVER, BC, Jan. 11, 2021 /CNW/ - ORO X MINING CORP. (TSXV: OROX) (OTC Pink: WRPSF) (the "Company") is pleased to announce it has begun mobilizing geological and geophysical teams to commence the 2021 Coriorcco exploration program. Geologists and geophysicists are expected to arrive on site at the beginning of February. The program will focus on systematically sampling and surveying the Coriorcco Dome to verify previous results and to generate priority-ranked targets for a maiden drill campaign later in 2021.
The geophysical survey team will run an Induced Polarization (IP) geophysical survey across the Coriorcco Dome to define vein structures in three dimensions below the surface. Concurrently, a grid soil survey targeting visible epithermal veins will also be completed across the dome and over contiguous surficial quaternary deposits to delineate additional veins that may be hidden below. While geologists are on site, the property will be prospected to further sample outcrop to identify and prioritize additional targets outside of the dome area.
The IP survey will consist of 9 north - south lines for a total length of 15.3 km on 200-metre spacings. The ground-based IP survey will be orientated perpendicular to major vein orientations and will help define structural controls. A magnetometry survey will also be run in parallel.
The geochemistry soil sampling campaign will consist of approximately 500 samples on a 50-metre grid across the Coriorcco Dome target area. Samples will be analysed by fire assay and ICP analysis for Hg, As, Sb, Au, and Ag.
"We are excited to commence the 2021 Coriorcco exploration program as Oro X moves towards its maiden drill campaign", commented Oro X CEO Luis Zapata. "The IP survey and 3D inversion will greatly assist in generating high quality drill targets for follow up in the latter part of this year. Along with ground-truthing and systematic sampling, the 2021 exploration program is an important step towards establishing an initial resource estimate at Coriorcco."
Oro X's Coriorcco project hosts 17 epithermal quartz, quartz-carbonate, and quartz-carbonate-adularia veins, which may represent the upper reaches of a similar low-sulphidation epithermal system. Previous work on the project focused on channel sampling and trial mining from 2010 to 2011. Four hundred meters of tunnels following two veins were driven into the silica cap of the Coriorcco Dome. Over 5,720 tonnes of ore averaging 7.5 g/t Au were exploited and sent to a third-party mill for processing by a prior operator.
The Coriorcco concession package lies within an established metallogenic belt in the San Juan de Lucanas Mining District. The belt hosts multiple producing mines including Hochschild's Inmaculada and Pallancata low-sulphidation epithermal gold-silver operations which have collectively produced 100 Moz Ag & 1.1 Moz Au. Results from neighbouring properties are not necessarily indicative of the geology of Coriorcco.
About Oro X Mining
Oro X Mining is a Canadian exploration company currently targeting high grade gold exploration in Peru. The Company's flagship asset is the Coriorcco Gold Project in Ayacucho, Peru. Founders and management have a successful track record of increasing shareholder value. For more information visit our website at www.oroxmining.com.
Qualified Person
Mr. John E. Bolaños, who is a qualified person under NI 43-101, has reviewed and approved the technical content of this news release and will continue consulting the Company for future press releases. Mr. Bolaños is a M.Sc. Mining Geologist from Camborne School of Mines (U.K.) and a Professional Geologist Eng. from The Central University of Ecuador (honours degree). He is a registered member (ID 4172671) of the Society for Mining, Metallurgy & Exploration (SME) of the United States; Director of the Ecuadorian College of Engineers in Geology, Mines, Oil and Environment; and a member of the Mining Chamber of Ecuador. He has 27 years of experience in the exploration and mining industry throughout the Americas.
ON BEHALF OF THE BOARD
Luis Zapata
CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include statements in respect of the Company's exploration plans for the Property. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. the Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
SOURCE Oro X Mining Corp.
Oro X Mining Corp., Luis Zapata, CEO, 604 358 1382 | [email protected]
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