Orestone Mining Announces Captain Drill Results and Ongoing Exploration

2022-04-06 06:10:14

Vancouver, British Columbia–(Newsfile Corp. – April 6, 2022) – Orestone Mining Corp. (TSXV: ORS) (FSE: WKN: O2R1) announces the results of its January 2022 drilling program at the Captain Gold-Copper Porphyry Project near Fort St James, North Central British Columbia.

One hole C22-01 was drilled to the east of a major NW trending fault to test an inferred porphyry intrusive target indicated by a large, highly conductive geophysical Magneto-Telluric (MT) anomaly at a depth of 500 metres. The hole intersected a barren andesite volcanic and volcanoclastic sequence to 675 metres followed by highly conductive graphitic sediments to a total depth of 774 metres. A 75 metre thick potassic altered porphyry sill with disseminated sulphides was intersected at the volcanic-sediment contact, however carried only background gold-copper values.

Orestone’s interpretation based on the results of drill hole C22-01, is that the major NW trending fault both truncated the gold-copper mineralization to the west as well as uplifted by an estimated 450 metres, the sequence of andesitic volcanics, volcanoclastics, and the underlying graphic sediments. The sediments are interpreted as being responsible for the highly conductive MT anomaly.

Further exploration at Captain will focus on the large sericite potassium feldspar alteration halo which measures 2000 by 2000 metres where numerous gold-copper mineralized drill intercepts have been encountered. The principal porphyry style targets are:

  1. A large target area measuring 500 metres thick along a strike length of 800 metres with a width in excess of 1000 metres, (500m x 800m x1000m). Within this zone, sericite potassic altered latite volcanics host alkaline and calc-alkaline style gold-copper mineralization on three sides. (see map)
  2. A large alteration zone located south of drill holes C12-02 and C12-04 both of which cut thick zones of sericite potassic feldspar alteration and sulphide mineralization, and west of drill holes C13-02 and C19-07 which intersected a gold-copper mineralized alkaline dyke system associated with a NW trending fault.

Both of these target areas have only been drill tested at the fringes and remain largely untested. Both targets are also co-incident with strong induced polarization (IP) chargeability highs and magnetic lows.

The gold-copper mineralization encountered in drilling to date varies from longer intersections of lower grade to higher grade over shorter sections (table below).




























Drill Hole From To Interval m g/t gold % copper
C09-05 134.1 137.2 3.1 0.35 0.160
C11-01 127.0 214.0 87.0 0.23 0.027
incl 127.0 170.0 43.0 0.30 0.087
C12-03 179.5 246.5 67.0 0.13 0.055
C12-05 88.1 206.9 118.8 0.65 0.060
(1) 88.1 206.9 118.8 0.30 0.060
incl 152.1 161.2 9.1 6.46 0.270
C12-05 377.6 542.2 164.6 0.41 0.070
(1) 377.6 542.2 164.6 0.32 0.070
incl 499.5 505.6 6.1 4.45 0.510
C13-02 32.4 66.4 34.0 0.20 0.073
C13-02 121.3 170.1 48.8 0.35 0.055
C13-03 204.9 207.9 3.0 1.90 0.226
C19-03 271.0 295.0 24.0 0.27 0.090
C19-07 112.0 203.3 91.0 0.26 0.065
incl 178.9 203.3 24.0 0.56 0.112
C20-03 (2) 247.0 329.0 82.0 0.23 0.110
incl (2) 309.0 329.0 20.0 0.50 0.190
incl 325.0 327.0 2.0 7.05 0.256
C20-03 394.0 408.0 14.0 1.04 0.170
C21-01 541.0 577.0 36.0 0.26 0.050
  656.7 742.4 85.7 0.37 0.060
C21-02 223.0 313.0 90.0 0.20 0.010
  414.0 436.0 22.0 0.70 0.010

(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

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.

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

ON BEHALF OF ORESTONE MINING CORP.

David Hottman

CEO

For further information contact: David Hottmann at 604-629-1929
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407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canada
Phone: 604-629-1929
Fax: 604-629-1930
www.orestone.ca

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