- 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.