Orestone to Drill Captain GOLD-Copper Porphyry Targets
TSX-V: ORS – OTC: ORESF
News Release
TSX-V: ORS
2020-15
November 06, 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 TO DRILL CAPTAIN GOLD-COPPER PORPHYRY TARGETS
Orestone Mining Corp. (TSX Venture Exchange Symbol: ORS) (Frankfurt: WKN: A2DWW7) is pleased to
announce that the drill contractor has been selected with drilling at the Captain project estimated to start November 15,
2020. The 100 percent owned Captain gold-copper project hosts a porphyry system which encompasses a cluster of large
targets (see website for maps) 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 drill program budgeted at $300,000 is designed to test two large target areas, T4 and T9 with up to 1000 metres of
drilling in three holes. Target T9 on the western flank of the central diorite intrusion is a magnetic high measuring 1000
x 3000 metres and is flanked by prominent linears marked by magnetic lows. Similarly, the T4 magnetic high target on
the eastern flank of the central diorite intrusion measures 400 x 700 metres in size and is flanked by linears marked by
magnetic lows. In both instances the linears are thought to be related to feeder fault zones resulting in the mineralization
within the magnetic highs. These magnetic anomalies are also associated with moderate IP chargeability anomalies from
10-15mv/V.
Previous drilling on two of the eastern anomalies (T1 and T2), along a strike of 700 metres intersected three intervals of
91 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
(Orestone Mining News Release September 09, 2020).
The exploration model is: monzonite porphyry’s with hydrothermal breccia zones interpreted as the feeder zones or the
plumbing system for gold-copper mineralization. The hydrothermal breccias, as demonstrated by drilling in anomaly T2
feature intense potassic-magnetite-carbonate alteration and are bracketed by monzonite porphyry intrusive and
interpreted NW trending magnetic low fault linear s. The magnetic low linears in turn bracket the 200 metre wide
magnetic high anomaly of target T2.
Logistics for the drill program are excellent as all of the drill locations are on existing roads with easy access 1-1.5 hours
north of Fort St James in north central BC. 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. All permits are in place
for 24 drill locations.
“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 refined the target model to unlock the property’s potential. The
upcoming drill program will test two of the l arger targets at the Captain project and we are moving swiftly to get
underway,” stated David Hottman, CEO and Director of Orestone Mining Corp.
At Captain, geophysical surveys have defined 10 large target areas (T1-T10) characterized by strong magnetic anomalies
of which only two have been drill tested to date (see website for maps). The alteration and alkaline intrusives 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).
TSX-V: ORS – OTC: ORESF
News Release
TSX-V: ORS
2020-15
November 06, 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
Target T9 measures 1 by 3 kilometres and Target T4 measures 400 by 700 metres
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.
At the Resguardo Project in Chile, following a review of the results from the recent reverse circulation drilling program,
the low copper gold values encountered on our primary target do not justify further work and Orestone will terminate the
option to purchase agreement with the property owner.
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
TSX-V: ORS – OTC: ORESF
News Release
TSX-V: ORS
2020-15
November 06, 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
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.