Orestone Initiates Ground Magnetic Survey at Captain Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/25/13 -- Orestone
Mining Corp. (TSX VENTURE:ORS) is pleased to report the commencement
of a detailed ground magnetic survey at the 100%-owned Captain
Project. The survey will define the magnetic anomaly within the area
of a recent drill discovery of significant gold/copper mineralization
(news release January 14, 2013).
The high resolution ground magnetic survey will entail a minimum of
45 line-kilometres over the Admiral Target and the Southeast
Aeromagnetic anomaly. The work commenced this week and is being
carried out by Peter Walcott & Associates Ltd., a leading provider of
geophysical services in British Columbia.
The Admiral Target as it is currently understood is a minimum one by
one kilometer magnetic anomaly. Recently reported drill hole C12-05,
at the southern flank of the anomaly, intersected long intervals of
disseminated gold and copper mineralization with the additional
aspect of shorter intervals of high grade gold of two to ten grams
per tonne. As previously released: Hole C12-05 returned two
significant intervals of strong gold mineralization; the upper zone
grading 0.65 g/t gold and 0.06% copper (on an uncut basis) over 118.8
meters and the lower zone grading 0.41 g/t gold and 0.07% copper (on
an uncut basis) over 164.6 meters. The mineralization in hole C12-05
remains open to depth.
Gary Nordin, Vice President-Exploration of Orestone commented, "Our
recent successful drill campaign has enabled us to recognize a strong
correlation between gold/copper mineralization and specific magnetic
responses. This relationship has been recognized at the nearby Mt.
Milligan Deposit (Thompson Creek Metals) and the Woodjam Deposit
(Goldfields Ltd.). This survey will enable us to explore more
efficiently and expedite our step-out drilling."
The Captain Project hosts a large gold-copper porphyry system
measuring seven by fourteen kilometers located 41 kilometers north of
Fort St. James, British Columbia and approximately 30 kilometers
south of the Mt. Milligan gold-copper 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
construction by Thompson Creek Metals Company Inc. as
a large open pit mine and processing facility. 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. 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.
Orestone Mining Corp. owns 100% of the Captain gold and copper
project near Fort St. James, B.C. and is well financed to pursue
further exploration during 2013. The Company also holds a 51%
interest in the 50 square kilometer Todd Creek Property within the
increasingly important Stewart Mining Camp, B.C. For additional
information including, drill hole plans, cross sections and
geophysical maps, please visit www.orestone.ca.
ON BEHALF OF ORESTONE MINING CORP.
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
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