John Thornton, Project Manager Oroco. Data Purchase
Oroco Acquires Santo Tomas Data
VANCOUVER, Aug. 15, 2018 /CNW/ – Oroco Resource Corp. (TSX-V: OCO) (US: ORRCF)
(“Oroco” or “the Company”) is pleased to announce that it has agreed to purchase from John C.
Thornton, former Vice-President – Engineering of Mintec, Inc., historical technical information and
data related to the Santo Tomas mineral deposit. Prepared by E.L. Bateman Engineering Company,
Mountain States Research & Development International Inc., Mintec, Inc. and John Thornton, the
data includes drill hole assays and associated interpreted sections, drilling, composite and digital
models and reports dated from 1992 to 2011. Mr. Thornton and Mintec, Inc. have maintained
custodial status of the data throughout that period and until present day.
As payment for the information and data, Oroco will issue, subject to TSX Venture Exchange
approval, 500,000 common shares of Oroco and pay US$500,000 by way of three payments of
US$50,000 each and a final payment of US$350,000, all to be made over a period of no more than
three years, depending on the Company’s progress in assembling the Santo Tomas concessions. In
addition to the data purchase, the Company has reached an agreement with Mr. Thornton whereby
he will provide project management services on behalf of Oroco at Santo Tomas. The terms of his
engagement include the granting to Mr. Thornton of 750,000 options to purchase shares in the
Company at a price per share of $0.20, vesting over the next 12 months and exercisable until June
27, 2021.
John Thornton’s career has extended over 40 years, during which time he has worked in senior
capacities in all aspects of mine planning and management, mine construction and the commissioning
of numerous world class mining projects. From 1991 until 2005, he was Vice-President and Chief
Consulting Mining Engineer for Mintec, Inc., then the largest supplier of geological and mining
software in the world. While with Mintec, Mr. Thornton was responsible, as Chief Mining Engineer,
for all aspects of planning and commissioning of the Bajo de la Alumbrera copper/gold deposit in
Argentina and the development of a 200,000 TPY SX-EW copper production facility at Tenke
Fungurume in Zaire. Beginning in 1999, Mr. Thornton participated in the complete re-evaluation of
the Cananea Mine in Sonora State, Mexico. From 2005 to 2007, as COO of Gammon Lake
Resources Inc. and responsible for developing both the open pit and underground mines, Mr.
Thornton oversaw the construction and commissioning of the Ocampo Project in Chihuahua, Mexico.
“Reaching these agreements with John Thornton is a significant step forward for Oroco,” stated its
President, Craig Dalziel. “Access with certainty to all of the Santo Tomas data will be essential to
our ability to develop an accurate representation of the value of Santo Tomas at a much more
reasonable cost, both in time and expense. Furthermore, John’s 26 year history with Santo Tomas
and his considerable technical expertise will provide immeasurable benefit to Oroco and the Santo
Tomas project.”
