Orestone Initiates Captain Property Exploration
Vancouver, British Columbia--(Newsfile Corp. - June 10, 2019) - Orestone Mining Corp. (TSXV: ORS) (FSE: O2R2) (the "Company") is pleased to announce that exploration has begun on the Company's Captain Project.
A field crew is presently working at the Captain project to spot drill holes on the main Admiral porphyry target area and meet with drilling and other contractors in preparation for the 2019 drill program.
At the Max Extension target area prospecting and stream silt sampling will be conducted along a 3000 metre structural trend northwest of sericite altered sediments and felsic intrusive with disseminated chalcopyrite exposed in road cuts.
In addition, meetings will be held with First Nations personnel to discuss Orestone's planned drill program.
The Captain Project
The 100 percent owned Captain Project hosts a large gold-copper porphyry system located 41 kilometers north of Fort St. James, British Columbia and approximately 30 kilometers south of the operating Mt. Milligan copper-gold mine. The project features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration year around.
The Captain Project hosts several porphyry targets with the most advanced being the Admiral target. The last hole drilled on the Admiral target C13-03, intersected three metres of highly potassic-sericite altered monzonite porphyry which assayed 0.226% copper and 1.90 g/t gold within an otherwise unaltered and un-mineralized post mineral, alkali gabbro dyke.
The three-metre xenolith or rafted block is believed to have been transported from immediately adjacent rocks. It contains abundant sulphides and has a "strong Induced Polarization (IP) signature" associated with it while the unaltered and un-mineralized post mineral dyke has few sulphides and a "weak IP signature".
Detailed geophysics consisting of ground magnetometer, IP and resistivity surveys have outlined the Admiral target and the post mineral dyke that is spatially located within it. The Admiral target is an intense IP anomaly measuring up to 25 mV/V covering an area of 1000 metres x 2000 metres that is open in all directions.
The gold to copper ratio observed from mineralized intervals on the property to date indicate a gold rich alkaline porphyry system which with similarities to the Cadia-Ridgeway Porphyry system of Newcrest Gold in New South Wales, Australia and indicate a potential porphyry system where copper grades of 0.2-0.3% and gold grades from 2-6 g/t are possible, a highly favorable, economic drill target.
Additional information will be released as it becomes available.
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Mr. Gary Nordin PGeo, BC has reviewed the technical information contained in this news release and has visited the project.
Orestone Mining Corp. is a Canadian based company that owns a 100% percent interest in the Captain gold - copper project located approximately 30 kilometres south of the Mt. Milligan Mine in British Columbia and has an option to purchase a 100% interest in the Resguardo copper project in Region III Chile. For more information please visit: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
"David Hottman"
President and CEO
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 news release.
For further information contact:
David Hottman at 604-629-1929 info@orestone.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45444