Vancouver, British Columbia–(Newsfile Corp. – July 11, 2019) – Orestone Mining Corp. (TSXV: ORS) (WKN: A2DWW7) (the “Company”) is pleased to announce the receipt of its 2019 Notice of Work Mineral Exploration Permit from the BC Ministry of Energy Mines and Petroleum Resources. The 5 year exploration permit encompasses 21 diamond drill hole sites and 17 km of Induced Polarization geophysical survey lines on the Admiral Au-Cu porphyry target and the Max Extension area.
The Admiral target is a strong IP chargeability high measuring 2 km by 1 km which is thought to be related to a potential monzonite copper gold porphyry system. Orestone plans to drill test the Admiral target in the coming weeks north of the known post mineral dyke and to the south of a strong linear north east trending inferred fault. Drilling and other contractors are currently being scheduled in preparation for the program.
The Captain Project
The 100 percent owned Captain Project hosts a large gold-copper porphyry system located approximately 30 kilometers south of the operating Mt. Milligan copper-gold mine. The project features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads providing excellent access suitable for year around exploration.
The Captain Project hosts several exciting porphyry targets with the most advanced being the Admiral target. The last hole drilled on the Admiral target C13-03, intersected three metres of highly altered monzonite porphyry which assayed 0.226% copper and 1.90 g/t gold within an otherwise unaltered and un-mineralized post mineral dyke.
The gold to copper ratio observed from mineralized intervals on the property to date indicate a gold rich alkaline porphyry system which with similarities to the Cadia-Ridgeway Porphyry system of Newcrest Gold in New South Wales, Australia and indicate a potential porphyry system where copper grades of 0.2-0.3% and gold grades from 2-6 g/t are possible, a highly favorable, potentially economic drill target.
The three-metre xenolith or “rafted block” is believed to have been transported from source material only a short distance away. It contains abundant sulphides and has a strong Induced Polarization (IP) signature, while the unaltered and un-mineralized post mineral dyke has few sulphides and a weak IP signature.
Detailed geophysics consisting of ground magnetometer, IP and resistivity surveys have outlined the Admiral target and the post mineral dyke that is spatially located within it. The Admiral target is an intense IP chargeability anomaly measuring up to 25 mV/V covering an area of 2 km by 1 km that is open in all directions.
Additional information will be released as it becomes available.
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Mr. Gary Nordin PGeo, BC has reviewed the technical information contained in this news release and has visited the project.
Orestone Mining Corp. is a Canadian based company that owns a 100% percent interest in the Captain gold – copper project located approximately 30 kilometres south of the Mt. Milligan Mine in British Columbia and has an option to purchase a 100% interest in the Resguardo copper project in Region III Chile. For more information please visit: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
President and CEO
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