Orestone Begins Drilling on Captain Copper-Gold Porphyry Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/19/12 -- Orestone
Mining Corp. (TSX VENTURE:ORS) is pleased to announce that the
Company has commenced a core drilling program on the 100% owned
Captain Project. As of this date the first drill hole in this
program, four hundred meters to the east of the discovery hole
C11-01, is well advanced and is intersecting sulfide-bearing material
in altered volcanic rocks.
The drill program, budgeted at $325,000, will consist of 1,000 meters
of core drilling in three holes on the target area known as the "East
Target". Drill holes in the current program will be spaced
approximately 400 meters east, southeast and northeast of C11-01.
Previous drilling in the East Target Area intercepted gold-copper
similar in grade to that of the Mt. Milligan deposit: drill hole
C11-01 intercepted 87 metres grading 0.23 g/t gold and 0.03 % copper;
including 43 metres grading 0.298 g/t gold and 0.09 % copper; as well
as 16 metres grading 0.434 g/t gold and 0.133% copper (See Company
news release dated February 23, 2012).
The project area features relatively flat terrain, moderate tree
cover and an extensive network of logging and Forest Service roads
suitable for exploration year round.
The Company has all permits in place to facilitate the next several
phases of exploration; 30 line kilometers of geophysics and 38 sites
approved for drilling by the B.C. Ministry of Energy and Mines.
The 100% owned Captain project is located 43 kilometers north of Fort
St. James, British Columbia and approximately 30 kilometers south of
the Mt. Milligan copper-gold deposit. The Mt. Milligan deposit has
proven and probable reserves of 532 Mt grading 0.20% copper and 0.38
g/t gold (Thompson Creek Metals website) and is currently under
construction by Thompson Creek Metals Company Inc. as a large open
pit mine and processing facility.
Orestone is well financed, has recently discovered the above
described large copper/gold porphyry system on the 100% owned Captain
Project and is seeing increased interest in the Stewart Mining Camp
where the Company's 50 square kilometer Todd Creek (51%) asset is
located. For additional information please visit www.orestone.ca
ON BEHALF OF ORESTONE MI
David Hottman, President and CEO
This news release has been prepared by management and no regulatory
authority has approved or disapproved the information contained
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
Orestone Mining Corp.
President & CEO
Press spacebar to pause and continue. Press esc to stop.