Orestone Outlines Large IP Chargeability Anomaly Below Surface Copper Mineralization At Resguardo In Northern Chile
Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (the “Company”) is pleased to announce the results of a recently completed IP/Resistively geophysical survey on its Resguardo Project in the Copiapo District of Northern Chile. The survey was designed to test the potential for copper-gold porphyry or manto style mineralization below historic surface workings. A total of 8 kilometres of IP/Resistivity were completed in four lines of 2000 m length each.
A large chargeability anomaly was outlined at a depth of 150 to 250m below surface with values greater than 12mV/V over a strike of 1400 metres and width of 500-800 metres. A central core of greater than 20 mV/V over a strike length of 1100 metres and width of 300-600 metres shows values up to 45mV/V and the anomaly remains open to depth.
In addition the most western line of the survey located 1000 metres west of the IP anomaly has outlined a broad IP chargeability anomaly of +9.5 mV/V over a 600 metre width open to the west indicating that there may be another target area requiring expansion of the IP/Resistivity geophysical coverage.
Copper gold mineralization at Resguardo occurs as dissemination’s and fracture coatings within a 50-100 metre wide vertical fracture 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 and sold to ENAMI for processing. 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 is very encouraged by the IP survey results which support the possibility that the historic surface copper gold mineralization may be the result of leakage from a large copper-gold porphyry or manto system at a shallow depth. The Company is planning for a trenching, road access and drilling program to test this newly defined large target.
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Mr. Gary Nordin P.Geo, BC has reviewed the technical information contained in this news release and visited the project.
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.
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