Orestone Mining Corp. (TSX Venture Exchange Symbol: ORS) (Frankfurt: WKN: O2R1) is pleased to announce that following the release of results from the recent drilling campaign (Orestone Press Release Dated June 17, 2021), the Company contracted Peter E. Walcott & Associates Limited to carry out a Magneto Telluric (MT) geophysical survey at the Captain gold-copper project near Fort St James, North Central British Columbia.
Previous drilling at Captain has defined a tabular, sericite altered zone that is 500 metres thick along a strike length of 800 metres with a width in excess of 1000 metres, (500m x 800m x1000m) which is open to the east. Within this zone, potassic-phyllic altered latite volcanics host calc-alkaline style gold-copper mineralization.
The MT survey, consisted of a 2 kilometres long line oriented southwest-northeast over the interpreted eastern extension of the mineralized zone referred to above, a frequency of 1Hz was used with readings taken on a 100 metre spacing. The survey outlined a large, pronounced low resistivity / high conductivity anomaly over 800 metres in width starting at a depth of 300-400 metres, extending to a depth of over 900 metres, which is open to depth. This conductive body is inferred to be the sulphide rich mineralizing intrusive which altered and mineralized the volcanic section to the west in the area of previous drilling.
“We are excited to see this very intense resistivity low of 12 to 30 omh which indicates a highly conductive sulphide rich target that we interpret as the core of the intrusive system. All of the mineralized drill intercepts on the Captain Project to date indicate that a gold enriched calc-alkaline style gold-copper intrusive porphyry system is present. This MT geophysical survey further validates and confirms our target model and we anticipate that the next phase of drilling will begin shortly.” stated David Hottman, CEO and Director of Orestone Mining Corp.
The Company is well financed to continue exploring at Captain; additional information will be released as available.
MT geophysical surveying is a deep seeking electro-magnetic method, penetrating up to a depth of 1000 metres or more, which measures resistivity to identify structures and rock types. MT surveys are typically employed for defining deep structures, geothermal systems, and targeting deep mineralized systems such as porphyry deposits which typically exhibit electrical resistivity contrasts at depths of up to several kilometres. Examples of large buried porphyry deposits associated with such strong resistivity lows are the Resolution Mine in Arizona, Collahuasi and El Salvador mines in Chile and the Pebble deposit in Alaska.
The 100 percent owned Captain gold-copper project encompasses 37 square kilometres and hosts a large porphyry system located 41 kilometres north of Fort St. James and 30 kilometres south of the Mt. Milligan copper-gold mine in North Central British Columbia. The Captain Project features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration year around. To stay informed of the latest corporate activities please click here to provide consent and receive news and updates. For more information, please visit Orestone’s website at www.orestone.ca
Quality assurance/quality control procedures
Orestone Mining has implemented a rigorous quality assurance/quality control program to ensure best practices in work programs by the company and contractors including sampling and analysis of diamond drill core as well as geophysical surveys and other work done on the property.
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.