Orestone Provides Corporate and Resguardo Copper-GOLD Porphyry Exploration Update
News Release
TSX-V: ORS
2020-04
May 07, 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 PROVIDES CORPORATE AND RESGUARDO COPPER-GOLD PORPHYRY
EXPLORATION UPDATE
Orestone Mining Corp. (TSX Venture Exchange–Symbol: ORS) (Frankfurt: WKN: A2DWW7) (the “Company”)
is pleased to provide this update on recent corporate and operational activities as well as an overview of 2020 planned
exploration activities on the Resguardo copper-gold porphyry/manto project, Chile.
COVID-19 Response
During these extraordinary times of travel restrictions, the closing of non -essential businesses and stay at home orders
around the globe due to the COVID-19 viral Pandemic, your management team continues to advance its two primary
assets, albeit at a more modest pace. Orestone would like to thank its shareholders, contractors and all stakeholders for
their patience and support. The Company is encouraging staff and contractors to work from home, where possible, to
practice correct social distancing and is using this time to focus on initiatives that can be achieved efficiently.
Financing
In February prior to the global turmoil , Orestone announced a non -brokered private placement consisting of up to
5,000,000 units (“Units”) at a price of $0.10 per Unit for aggregate gross proceeds of up to $500,000 (the “Offering”).
Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each
whole Warrant will be exercisable for one common share of the Company at a price of $0.15 for one year from the date
of issuance. The financing is advancing under the same terms and we will have a further update in the coming weeks.
Resguardo Copper-Gold Porphyry/Manto Project, Chile
At the Resguardo Project located 75 kilometres northeast of Copiapo, Region III Northern Chile, the Company is actively
engaged in property visits by contractors from three drill compan ies and two road construction contractors . Final bids
will be evaluated for selection shortly. Once a selection is made Orestone will be in a position to drill test the Resguardo
target as government acceptance of the Company’s exploration plan is currently in place. We expect to release further
progress in the near future.
Historically near-surface oxide copper grading 1% to 7% and approximately 0.50 g/t gold was mined intermittently from
pits and tunnels. Mineralization is hosted in mantos, skarn and breccia s bodies. Although historic sampling is believed
to have been competently carried out, it was not certified by a professional geologist, therefore the results are not NI43-
101 compliant and cannot be relied upon.
The Resguardo copper-gold porphyry or manto target is adjacent to these historic mine workings and is evidenced by an
IP chargeability anomaly outlined over a strike length of 1400 metres, a width of 500-800 metres, at a depth of 150-200
metres. There is a central core of greater than 20 mv/V over a strike length of 1100 metres and width of 300-600 metres.
The Resguardo target area is underlain by zones of strong hydrothermal alteration consisting of sericite-silica-clay with
copper oxides at the junction of regional NNE trending low angle extensional faults with NW trending vertical faults.
A program of road access and drill pad construction in preparation for drill testing will be the next step. Additional
information will be released as it becomes available.
Infrastructure for the Resguardo project , located 75 kilometres NE of the City of Copiapo along Highway 31 which is
the main route to the La Coipa Mine and the northern part of the Maricunga Gold Belt.
News Release
TSX-V: ORS
2020-04
May 07, 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
As part of this update, please watch the recent video interview with Gwen Preston discussing the recent results and future
plans for the company.
https://www.youtube.com/watch?v=SE67fUhBJKE&feature=youtu.be
We are committed to keeping our communications transparent and additional information will be released as it becomes
available. To stay informed of the latest corporate activities please click here to provide consent and receive news and
updates.
Both of Orestone’s projects in Chile and BC are located in structural corridors adjacent to large copper gold deposits. In
Chile Orestone’s Resguardo project is located in a NNE trending structural corridor 80 kilometres to the south of the El
Salvador Mine and the past producing Potrerillos Mine, both large copper-gold porphyries. In Canada the100% percent
owned Captain project is located 30 km south of the Mt. Milligan Mine, a large copper-gold porphyry. On both projects
copper and gold mineralization in association with e xtensive hydrothermal alteration demonstrate the potential for
discovery of large copper-gold deposits. For more information please visit: www.orestone.ca
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.
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 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.
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 devel opment 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 permits, and other risks in the mining industry. In additio n, 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 the se cautionary statements and those in our continuous disclosure filings 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.