Oroco Resource Corp has got a green light from the TSX Venture Exchange for its proposed share payment to a mining consulting firm for a US$570,000 study on its Santo Tomas porphyry copper project in Mexico.
Oroco and Whittle Consulting announced the proposed arrangement earlier this month.
Whittle is getting $342,000 worth of 30c Oroco shares plus options for its strategic option study.
Oroco said earlier Whittle’s track record of delivering more than 120 enterprise optimisation studies showed it could significantly improve project economics through its proprietary Prober-F software.
“This advanced tool integrates linear programming with a sophisticated search algorithm, utilising over 300 computer cores to tackle complex, multi-variable mining challenges,” Oroco said.
“The [Whittle] study will employ advanced cost modelling and system constraint analysis to optimise all facets of the Santo Tomas mining process, including an expanded North Zone mine plan.”
Oroco said Whittle would collaborate with its team to evaluate alternative power sources, mining fleet electrification, different processing technologies and tailings storage options.
