Orestone Plans Drilling at Captain Project
TSX-V: ORS – OTC: ORESF
News Release
TSX-V: ORS
2020-14
September 09, 2020
For further information contact: David Hottman at 604-629-1929 ⧫ [email protected]
407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canada ⧫ Phone: 604-629-1929 ⧫ Fax: 604-629-1930 ⧫ www.orestone.ca
ORESTONE PLANS DRILLING AT CAPTAIN PROJECT
Orestone Mining Corp. (TSX Venture Exchange Symbol: ORS) (Frankfurt: WKN: A2DWW7) is pleased to
announce that target modeling for an upcoming drill program on the Captain Project has been refined and specific targets
are being selected. As part of the data review and planning process several drill holes have been re-logged leading to a
re-interpretation of previous mineralized drill intercepts. There are 10 large target areas (T1-T10) with strong magnetic
anomalies outlined at the Captain Project with only two targets drill tested to date (see website for maps). These magnetic
anomalies are also associated with moderate IP chargeability anomalies from 10 -15mv/V and are potentially related to
mineralized monzonite porphyries and breccia’s. All of the holes in the upcoming drill program are located on existing
logging roads with easy access 1-1.5 hours north of Fort St James in north central BC.
Previous drilling on two of the eastern anomalies (T1 and T2), along a strike of 700 metres intersected three intervals of
90 to 164 metres in length with values averaging 0.30 g/t gold and 0.06% copper. In Hole C12-05 intervals of 6.1 and
9.1 metres encountered higher grades of 4.45 g/t gold and 6.46 g/t gold with 0.51% and 0.27% copper respectively.
Drill holes C13-02 and C19-07 drilled in target T2 were relogged by Gary Nordin PGeo, BC (Orestone Director) and
Bruce Winfield P.Geo, BC (Orestone Director and President) defining hydrothermal breccia zones 20-30 metres wide
associated with intense potassic-magnetite-carbonate alteration and gold-copper mineralization. Mineralization
intersected in holes C13-02 and C19-07 measures 70 metres in width with an average grade of 0.29 g/t Au and 0.06%
copper with a 23 metre wide zone grading 0.56 g/t gold and 0.12 % copper.
The hydrothermal breccias are interpreted as the feeder zones or the plumbing system for mineralization and are, in the
case of anomaly in T2 , bracketed by monzonite porphyry intrusives and interpreted NW trending magnetic low fault
linears. The magnetic low linears bracket the 200 metre wide magnetic high anomaly in T2.
“While the 2019 drill program at Captain did not locate the source of the high-grade fragment of calc-alkaline porphyry
mineralization, it is exciting that the detailed study and relogging of core from drill holes C13-02 and C19-7, has led to
this new model for the significant gold-copper mineralization at Orestone’s Captain Project. We look forward to further
drill testing the 10 separate, large, magnetic anomalies at the Captain gold -copper porphyry project ,” states Bruce
Winfield, P.Geo., President and Director of Orestone Mining Corp.
TSX-V: ORS – OTC: ORESF
News Release
TSX-V: ORS
2020-14
September 09, 2020
For further information contact: David Hottman at 604-629-1929 ⧫ [email protected]
407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canada ⧫ Phone: 604-629-1929 ⧫ Fax: 604-629-1930 ⧫ www.orestone.ca
The alteration and alkaline intrusive encountered in drilling at the Captain Project are very similar to alteration and
mineralization at the Mt. Milligan Mine 30 km to the North. The Mt. Milligan mine hosts 959 million pounds of copper
and 2.41 million ounces of gold in a Proven and Probable Mineral Reserve of 191.0Mt grading 0.23% copper and 0.39g/t
gold classified as 60% Proven and 40% Probable on a tonnage basis (Centerra Gold News Release March 26, 2020).
“In summary all of the mineralized intercepts encountered on the Captain Project to date indicate that a gold enriched
porphyry system exists and we now believe that we have found the key to unlock the property’s potential. The upcoming
drill program will test at least two and possibly as many as four large targets using the new interpretation derived from
the relogging of previous drill holes C13-02 and C19-7. The target model being gold enriched monzonite porphyry’s and
breccia’s. All of the holes in the upcoming drill program are located on existing logging roads with easy access. We are
fully funded for this drill p rogram and moving swiftly to get underway,” states David Hottman, CEO and Director of
Orestone Mining Corp.
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 received an approved 2020 Notice of Work from
the BC Ministry of Mines and Petroleum Resources for 24 drill locations.
Gary Nordin, P.Geo, a direct or 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 Canadian based company that owns a 100% percent interest in the Captain gold - copper
project in north central British Columbia. The project hosts a gold-copper porphyry system which encompasses a cluster
of large targets (see website for maps) located 41 kilometres north of Fort St. James, B.C. and 30 kilometres south of the
Mt. Milligan copper-gold mine. The Company also holds an option to purchase a 100% interest in the Resguardo Project
in Chile. Both projects are located in structural corridors adjacent to large copper -gold deposits. For more information
please visit: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
David Hottman
CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchang e)
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.
Forward-Looking Statements
This news release contains certain forward -looking statements, which relate to future events or future performance and reflect management’s
current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made
by and information currently available to the Company. Readers are cautioned that these forward -looking statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not
limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration and development activities,
environmental risks, future prices of copper, gold, silver and other metals, operating risks, accidents, labor issues, delays in obtaining governmental
or regulatory approvals and perm its, and other risks in the mining industry. In addition, there is uncertainty about the spread of the COVID -19
virus and the impact it will have on the Company’s operations, global supply chains and economic activity in general. All the forward-looking
statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filing s available on
SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to
update or revise them to reflect new events or circumstances save as required by applicable law.