Orestone Initiates Exploration at Resguardo in Northern Chile
Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (Frankfurt: WKN: A2DWW7) (the “Company”) is pleased to announce that the Company through its newly formed Chilean subsidiary Cerro Golpe de Rayo SpA, has initiated an exploration program on the Resguardo property in northern Chile. The program will further define potential for porphyry and manto style copper-gold mineralization at a shallow depth. Work will consist of detailed mapping, sampling of outcrops and systematic geochemical sampling.
Additionally, the Company is planning to begin a program of trenching, road access and drill pad construction over the target area, in preparation for drill testing in early 2020.
“We are very encouraged by the recent IP survey results and this exploration program moves the Company one step closer to drilling this very large, exciting target”, stated David Hottman, CEO of Orestone Mining Corp.
Copper-gold mineralization occurs as dissemination’s and fracture coatings within a 50-100 metre wide zone along a strike length of 1500 metres, open to the southwest. Where favorable flat lying carbonate beds occur, copper-gold manto-skarn mineralization is present up to 20 metres in thickness. Historically near-surface oxide copper grading 1% to 7% and approximately 0.50 g/t gold was mined intermittently from pits and tunnels. Although sampling is believed to have been competently carried out, it was not certified by a professional geologist, therefore the results are not 43-101 compliant and cannot be relied upon.
Orestone believes these historic workings to be peripheral to, and may represent leakage from, a large copper-gold porphyry or manto system at a shallow depth. This model is supported by the results of a recently completed Induced Polarization (IP) survey geophysical program detailed in the Company’s news release of Sept 17, 2019.
A large chargeability anomaly has been outlined at a depth of 150 to 250m below surface over a strike of 1400 metres and width of 500-800 metres. There is a central core of greater than 20 mv/V over a strike length of 1100 metres and width of 300-600 metres.
Infrastructure for the Resguardo project is excellent, with road access 75 km NE of the City of Copiapo, Chile along Highway 31. Highway 31 is also the main route to the La Coipa Mine and the northern part of the Maricunga Gold Belt.
Gary Nordin, P.Geo, a director of the Company, is a qualified person as defined by National Instrument 43-101, Mr. Nordin has reviewed and approved the technical information in this press release.
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ON BEHALF 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.
For further information contact: David Hottman at 604-629-1929 - firstname.lastname@example.org