Orestone reports encouraging gold results from Connor Creek Property
TSX-V: ORS February 25, 2010 - Orestone Mining Corp. (the “Company”) is pleased to announce assay results from a 1,631 m, 9- hole diamond drilling program on the Connor Creek Property situated near Nelson in southwestern B.C. Drilling was conducted during the period November 23 to December 19, 2009. The work was completed as part of the Company’s option to earn 60% of Kootenay Gold Inc’s 100% interest in the Property by expending $1,000,000 on the Property prior to November 10, 2013 and delivering to Kootenay Gold an aggregate 750,000 Orestone shares prior to November 13, 2013. To date, the Company has expended approximately $300,000 on the Property and delivered 150,000 shares to Kootenay Gold Inc.
Initial drilling by Orestone targeted the CC Gold Zone discovered by Kootenay Gold Inc. in 2007. Seven of nine holes tested this zone and its inferred southeasterly extension over a distance of about 550 m. A summary of significant 2009 mineralized intercepts is given in the table below.
Holes CC09-01 to 03 were drilled proximal to Hole CC07-10 which intersected, at shallow depths, mineralized intervals of 4.75 g/t Au over 3.0 m, 3.29 g/t Au over 1.76 m and 1.09 g/t Au over 4.0 m. Gold mineralization in these holes is associated with veinlets and fracture fillings of pyrite, pyrrhotite and lesser chalcopyrite in altered meta-sediments at or near the contacts of diorite sills or feldspar porphyry dikes or sills. The Company is currently reviewing sectional drill data in order to evaluate continuity of the mineralized zones. The potential for discovering additional gold-mineralized zones preferentially developed along sill or dike contacts is considered excellent.
In Hole CC09-06, collared approximately 550 m southeast of Holes CC09-01 to 03, the 1.38 m interval grading 1.02 g/t Au is part of a 9.37 m interval grading 0.39 g/t Au. Mineralization in this interval is hosted by a silica-potassium feldspar altered intrusive(?) unit which contains disseminations and fracture fillings of pyrrhotite, pyrite and chalcopyrite. In Hole CC09-07, inclined beneath Hole CC09-06, similarly mineralized silica and potassically-altered rocks returned several intercepts grading from 0.37 to 0.68 g/t Au over intervals of 3.5 m to 9.4 m. In these two holes, the gold mineralization could be fringing a larger zone of porphyry-style mineralization which could offer bulk tonnage potential.
In Hole CC09-09, collared about 270 m east of Holes CC09-01 to 03, the two gold-copper mineralized intervals in the above table are diorite-hosted and characterized by pervasive silica alteration accompanied by veinlets of pyrrhotite, pyrite, chalcopyrite and chlorite. They represent structurally-controlled zones of mineralization hosted by competent wallrocks. Further drilling is required to better define continuity and grade of the zones.
The Connor Creek Property is very well located relative to road, rail and power infrastructure and is near the smelter complex at Trail, B.C. It’s geological setting is similar to the historic gold-producing veins at Rossland, 40 km southwest. The widespread occurrences of gold indicated by soil and rock geochemistry, prospecting and diamond drilling show that the property contains a large, gold and copper-bearing sulphide system which has the potential to host both bulk tonnage and structurally-controlled deposit types.
Drilling was all NQ size core drilling contracted to Black Hawk Drilling Ltd. of Smithers, B.C.
Sampling and Assaying
All core samples were cut by a rock saw with one half being returned to the core box for reference and the other half being placed in a plastic sample bag which was labeled, tagged,
documented and sealed with wire.
All samples were placed in rice sacks sealed with a zip tie, recorded in a shipment notice and delivered to Acme Analytical Laboratories (Vancouver) Ltd. Receipt of the samples was signed off at the lab. Pulps of each sample were then prepared and analyzed using their Group 601 Fire Assay Au analyses on a one assay-ton (29.2 grams) sample accompanied by a Group 1D (ICPES) multi-element analyses on a 0.5 gram sample. Acme Analytical Laboratories (Vancouver) Ltd is an ISO 9001-2008 registered full service laboratory.
The foregoing geological disclosure has been reviewed and verified by Barney Bowen, P.Eng., a director of the Company and a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Orestone is presently exploring three large claim blocks in northern B.C and one claim block in southern B.C. all within Quesnel Terrane, which extends from the US border to northern B.C. Quesnel Terrane hosts numerous mines and many developing bulk tonnage Cu Au prospects such as those on the Mt. Milligan and Kwanika properties in north-central B.C., sediment-hosted gold mineralization on the Spanish Mountain and Frasergold properties in south-central B.C. and gold vein deposits throughout B.C. Orestone is also in the process of acquiring all the shares of Intuitive Exploration Inc. which holds a 51% working interest in the Todd Creek gold property located 35 km northeast of Stewart (see News Release dated November 30, 2009).
For further information contact Gordon Richards, the President of Orestone, at (604) 940-6466 or Jim Mitchell, a director of Orestone, at 1-604-796-9418.
ON BEHALF OF THE BOARD OF DIRECTORS OF ORESTONE MINING CORP.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.