Vancouver, British Columbia--(Newsfile Corp. - March 13, 2025) - Orestone Mining Corp. (TSXV: ORS)(OTC Pink: ORESF)(FSE: O2R2) ("the Company") is pleased to announce that it is planning an airborne MagnetoTelluric (AirMT) survey to cover the partially defined, T-2 conductivity target at the Company's 100 percent owned Captain Gold Porphyry Project in North Central BC prior to the next drill programe. The project is located 40 kilometres north of Fort St. James and 30 kilometres south of Mt. Milligan, a large open pit copper-gold mine. The T-2 target is the southernmost target zone outlined on the property to date. The Company is obtaining contractor quotes and refining the parameters of the survey at this time. Initially the new survey will consist of 18 lines at 7.2 kilometres in length totalling 157 line kilometres and we expect to complete the program in the summer of 2025.
The Captain Project hosts a gold dominant porphyry style mineralized system occurring within a 5 kilometre long, N-S trending corridor of low resistivity defined by a 2022 AirMT survey (for larger maps click here). Three targets occur at the intersection of interpreted northeast and northwest trending cross faults. This type of low resistivity feature is often related to large porphyry systems. Also gold rich porphyry systems such as Red Chris mine in northeastern British Columbia are typically strongly structurally controlled and are characterized by a narrow zone of multiple intrusive dyke phases widening at depth with a halo of copper-gold rich disseminated sulphides and quartz stock works overlying the dyke system.
The T-2 anomaly is similar in intensity to the T-1 target. The central T1 target, an extensive 2 X 2 kilometre tabular zone of porphyry style alteration hosts zones of sericite-potassic-feldspar alteration containing gold-copper mineralization from 20-160 metres thick grading 0.20 to 0.84 g/t gold and 0.05-0.11 percent (500-1100 ppm) copper. Drill core logging has identified altered and mineralized porphyry dykes, both in the hanging wall and dipping into the observed MT conductor implying the presence of a potential intrusive porphyry system. It is thought to be highly probable that the next phase of drill holes will intersect a gold-copper porphyry intrusive system with mineralization similar to that found in the overlying dykes and volcanics.
David Hottman, Orestone's CEO, stated: "Orestone's property portfolio includes exploration exposure to gold, silver and copper in Canada and Argentina. The Company's primary asset is the 100 percent owned Captain gold-copper project in North Central BC which hosts a large gold dominate porphyry system; permitted and drill ready. The gold discovery potential of Captain has attracted large producers Centerra Gold, IAMGOLD and New Gold to stake claims almost completely surrounding the property. Earlier stage projects in the portfolio include the Las Burras copper-gold project and the Francisca gold-silver project. Both are earn-in options in Salta Province Argentina and provide scaled exploration exposure to the Company. Orestone employs advanced geological and geophysical techniques in our exploration programs and plans to complete an AirMT survey to cost effectively define the conductive porphyry targets so that they can be systematically drill tested. All of these high potential projects have a relatively low-cost profile to hold and explore and are suitable for exploration year-round. Orestone's exposure to gold, silver and copper projects could well reward shareholders should a large discovery be outlined."
The drill intercepts to date from Captain demonstrate a well mineralized system. Below are previously released results.
Drill Hole
From
To
Interval m
g/t gold
% copper
C09-05
134.1
137.2
3.1
0.35
0.16
C11-01
127.0
214.0
87.0
0.23
0.03
incl
127.0
170.0
43.0
0.30
0.09
C12-03
179.5
246.5
67.0
0.13
0.06
C12-05
88.1
206.9
118.8
0.65
0.06
(1)
88.1
206.9
118.8
0.30
0.06
incl
152.1
161.2
9.1
6.46
0.27
C12-05
377.6
542.2
164.6
0.41
0.07
(1)
377.6
542.2
164.6
0.32
0.07
incl
499.5
505.6
6.1
4.45
0.51
C13-02
32.4
66.4
34.0
0.20
0.07
C13-02
121.3
170.1
48.8
0.35
0.06
C13-03
204.9
207.9
3.0
1.90
0.23
C19-03
271.0
295.0
24.0
0.27
0.09
C19-07
112.0
203.3
91.0
0.26
0.07
incl
178.9
203.3
24.0
0.56
0.11
C20-03 (2)
247.0
329.0
82.0
0.23
0.11
incl (2)
309.0
329.0
20.0
0.50
0.19
incl
325.0
327.0
2.0
7.05
0.26
C20-03
394.0
408.0
14.0
0.84
0.17
C21-01
541.0
744.0
203.0
0.329
0.06
C21-02
176.5
313.0
136.5
0.18
0.03
and
414.0
436.0
22.0
0.70
0.01
and EOH
608.0
611.0
3.0
0.76
0.05
(1) High gold values cut to 1.16 g/t gold (2) Assay interval of 7.05 g/t gold cut to 1.80 g/t gold
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.
Orestone Mining Corp. is a mineral exploration company headquartered in Vancouver, British Columbia. The Company's property portfolio includes exploration exposure to gold, silver and copper in Canada and Argentina. Orestone's near term objective on the Francisca gold property in Salta Province, Argentina is to define an oxide gold deposit mineable by open pit methods using low cost heap leach gold recovery. The Company's primary asset is the 100 percent owned Captain gold-copper project in North Central BC which hosts a large gold dominate porphyry system; permitted and drill ready. The Las Burras property optioned in Salta Argentina provides large scale copper exposure to the Company. All three projects are road accessible and suitable for exploration year-round. For more information, please visit Orestone's website at: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
David Hottman
CEO
For further information contact: David Hottman at 604-629-1929 info@orestone.ca
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.
