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Is There Any Reason As To Why The Oroco Resource (ORRCF) Stock Expanded By 14%?

Oroco Resource Corp (ORRCF) closed the last session at $1.1292 after seeing a rise of 14.06% which brought its market cap to $230.44M. The Oroco Resource (ORRCF) stock surged on the trade of 208.84K shares after pursuing an Option Plan.

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What strategy has ORRCF pursued?

Oroco Resource (ORRCF) announced this month that it has granted a total of 6,850,000 incentive stock options at a $2.05 per share exercise price for a three-year period, in accordance with the Company’s Stock Option Plan and subject to TSX Venture Exchange approval.

  • Officers and directors of the Company have been granted 3,425,000 incentive options out of this total.
  • Oroco Resource now has 11,757,000 incentive options granted and outstanding, which is 57 percent of the quantity authorized by TSX-V regulations and the Company’s Stock Option Plan.
  • ORRCF also recently revealed test results from Holes N009 through N012 in the North Zone deposit from its drilling operation at the Santo Tomas property (the “Property”) in northern Mexico.
  • Oroco Resource has verified that test results for the first twelve drill holes (8,633 meters of drilling) have arrived.
  • The North Zone drill program is going extremely well, with the targeted mineralization intersected at the expected depths and with notable intervals in every hole.
  • Drilling in the Brasiles Zone is also continuing at Hole B005, with assays from Holes B001 to B003 still awaiting.
  • The drill program in the North Zone for 2021-2022 has already covered 900 meters of strike length along with the mineral deposit’s core. Drill Hole N010, in particular, yielded 311.0 m of 0.42 Copper Equivalent.
  • Drill Hole N010 is located south of Hole N008, which yielded the finest intersection so far in the drill program for the years 2021-2022.
  • True-thickness of 328.3 m of 0.45 percent Copper Equivalent was found in hole N008.

How has ORRCF interpreted the findings?

Oroco Resource (ORRCF) is happy to report that the North Zone’s targeted mineralization was encountered at the expected depths, with substantial intervals present in all holes. Drilling findings have shown extensive, near-surface contacts of high-grade Cu-Mo-Au mineralization, validating the drill program’s principal target. ORRCF will now explore down-dip expansions in areas of the North Zone previously untested by historical drilling as the mineralized structure takes shape.

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