Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (Frankfurt: WKN: A2DWW7) (the “Company”) is pleased to announce that geological mapping has been completed at the Resguardo copper-gold project located 75 km northeast of Copiapo, in Region III, Northern Chile. The mapping was centered on a large IP anomaly and a previously mined copper - gold manto area. The area is shown to be principally underlain by Triassic age quartzites and felsic- silicious volcanic tuffs which have a shallow dip of 15 degrees to the north. The sediments are in unconformable contact and underly Jurassic age andesitic volcanics to the north and are weakly altered to sericite-quartz-limonite with sections of moderate to strong silica-kaolin-sericite and minor copper oxides along fault intersections.
Two low angle regional extensional faults, the Fraga and Huella del Guanco, have been mapped across the IP anomaly area (see maps here). Where these faults intersect northwest trending fracture-fault zones, moderate to strong silica-kaolin-sericite alteration and minor copper oxides are present. Additional faulting, alteration and minor copper oxides are also mapped along the east west trending, shallow dipping sediment-volcanic contact parallel to the Fraga fault zone. The Fraga fault has also emplaced younger Tertiary age intrusive over the altered sediments.
The presence of moderate to strong silica-kaolin-sericite hydrothermal alteration and minor copper oxides at the contact between the regional extensional Fraga fault and northwest trending fracture zones is thought to be related to a buried copper - gold manto or porphyry system which may be related to an IP anomaly at a depth of 200 m below surface.
“At Resguardo we are very encouraged that exploration continues to validate our target model – a large manto or porphyry system. I cannot overemphasize the importance of fluid leakage to surface causing the alteration at the fault intersections above and in close proximity to the IP anomaly. The chargeability anomaly has been outlined over a strike length of 1400 metres, a width of 500-800 metres, at a depth of 200 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. This exploration program moves the Company one step closer to drilling this very large, exciting target”, stated David Hottman, CEO of Orestone Mining Corp.
A program of trenching, road access and drill pad construction in preparation for drill testing will be the next step. Additional information will be released as it becomes available. To stay informed of the latest corporate activities please click here to provide consent and receive news and updates.
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.
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.