Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (the “Company”) announces that a crew has been mobilized for the planned drilling program at its Captain gold-copper porphyry property in northern British Columbia.
Contractors have been engaged for both providing access as well as diamond drilling. The initial work will consist of rehabilitating logging roads and sites in accordance with terms of the environmental Notice of Work Mineral Exploration Permit from the BC Ministry of Energy Mines and Petroleum Resources received in July 2019.
The drill program will consist of 1,000 to 1,250 metres in five drill holes. The program will focus on the Admiral target, a large 2 Km X 1Km Induced Polarization (IP) anomaly, which is believed to be the source of a block or fragment of intensely potassic-sericite altered intrusive intersected in drill hole C13-3 which assayed 1.9 g/t gold and 0.226 % copper over 3 meters within an otherwise unaltered and barren post mineral dyke. To the north, the anomaly is bounded by a prominent northeast trending fault which is interpreted to be a possible control to emplacement of the mineralization.
David Hottman, Chairman, & CEO states: “Orestone’s board and management have a proven record of identifying important gold porphyry projects. Examples are the early modeling and drilling of the 5.4 million-ounce Refugio Gold Porphyry(1) (past producer); the 12 million ounce Kisladag Gold Porphyry (2) (in production – Eldorado Gold Corp.) and the Cerro Casale gold-copper porphyry where a mineral reserve and resource in excess of 23 million ounces of gold has now been drilled off. (3) (Barrick Gold and Newmont Goldcorp. are 50/50 partners on the project). In the coming weeks we look forward to Orestone’s follow-up drilling of this exciting gold porphyry discovery at Captain”.
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Mr. Gary Nordin P.Geo, BC has reviewed the technical information contained in this news release and has visited the project.
The Captain property is located in flat terrain, 65 kilometers northeast of Ft. St. James and has excellent logistics. Access is by a provincial highway, Forestry Service roads and a network of logging roads on the property which has been extensively logged.
Orestone Mining Corp. (TSX.V: ORS) is a Canadian based company that controls a portfolio of gold and copper-gold exploration projects in Chile and British Columbia, Canada. The Captain project hosts the Admiral target, a large drill ready gold/copper porphyry system located 30 kilometres south of the Mt Milligan Mine in British Columbia. For more information please visit: www.orestone.ca
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.
- source: Kinross Gold 2006 Mineral Reserve and Resource Statement
- source: Eldorado Gold Annual Report 2011
- source Goldcorp News release June 9, 2017