TSX.V: ORS orestone.ca
January 2023
A RESULTS FOCUSED GOLD & COPPER COMPANY
Captain Project - British Columbia
- 100% owned and 105 square kilometres in size.
- The T1 target is one of three distinct MagnetoTellurics (MobileMT) low resistivity-high conductivity targets outlined over a five kilometre strike length along a prominent north/south trending inferred regional fault.
- The T1 target area has a large alteration halo of 2000 x 2000 metres.
- Drilling has intersected a tabular zone of gold-copper mineralization over 200 metres thick fringing the T1 target.
- The gold-copper drill intercepts vary from longer intersections of lower grade to higher grade over shorter intervals.
- Several major companies are working in the region surrounding the property.
GALORE | KEMESS SOUTH | Quesnel Trough | ||||||||||||||||
CREEK | ||||||||||||||||||
Fort St. John | ||||||||||||||||||
Prince | MT MILLIGAN | |||||||||||||||||
Rupert | CAPTAIN PROJECT | |||||||||||||||||
Prince | ||||||||||||||||||
B R I T I S H | George | |||||||||||||||||
MT POLLEY | ||||||||||||||||||
C O LU M B I A | ||||||||||||||||||
AFTON | ||||||||||||||||||
Centerra Gold Claims | Vancouver | COPPER MTN | ||||||||||||||||
200 km | ||||||||||||||||||
Victoria | ||||||||||||||||||
IMGold Claims | ||||||||||||||||||
CAPTAIN PROJECT | ||||||||||||||||||
IMGold Claims | New Gold Claims | |||||||||||||||||
2 km | ||||||||||||||||||
Roads | Mobile MT Survey Outline | |||||||||||||||||
The 100 percent owned Captain gold-copper Project encompasses 105 square kilometres and hosts a large gold dominate porphyry system 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 project features relatively flat terrain, moderate tree cover, and an extensive network of logging and Forest Service roads suitable for year round exploration.
FIVE KM LOW RESISTIVITY TREND
During 2022 the Company completed an airborne MobileMT survey at the Captain Property which confirms and better defines the large gold dominant porphyry T1 target. The T1 target is one of three distinct MobileMT low resistivity - high conductivity targets outlined over a five kilometre strike length along a prominent north/south trending inferred regional fault. This trend remains open in both directions on Orestone claims. The T1 low resistivity target is co-incident with strong induced polarization (IP) chargeability highs and magnetic lows. The other two low resistivity targets along the trend are co-incident with magnetic lows however no IP has been conducted in these areas.
January 2023
BOARD AND MANAGEMENT
DAVID HOTTMAN | MARK T. BROWN, CA | JAMES ANDERSON, BFA | JULIA ASPILLAGA |
Chairman & CEO | CFO | Independent Director | Advisor |
BRUCE WINFIELD, M.Sc. P.Geo | GARY NORDIN, B.Sc (Geol. Hons) | JOHN KANDERKA, B.Sc | MARC BLYTHE, P.Eng |
President, Director | Independent Director, | Independent Director | Advisor |
Senior Consulting Geologist | PATRICK DANIELS, B.Sc, Mining Engineering | ROB PEASE, P.Geo | |
Independent Director | Advisor |
GOLD DOMINANT PORPHYRY TARGET
The central portion of the low resistivity-high conductivity zone known as the T1 target is untested by drilling to date and lies in the centre of a large scale alteration halo measuring 2000 by 2000 metres.
The alteration and gold-copper mineralization defined to date at T1 is interpreted to be related to a sulphide rich intrusive body at depth which was responsible for the sericite-potassium feldspar (kspar) alteration and the extensive fine-grained sulphides with gold-copper mineralization intersected in previous wide spaced drill holes. Seven fringing drill holes have outlined the zone by defining a 200-500 metre thick tabular zone of phyllic alteration hosting zones of sericite-kspar alteration containing gold-copper mineralization from 20-160 metres thick grading 0.20 to 0.84 g/t gold and 0.05-0.11 percent (500-1100 ppm) copper (see table below). This mineralization is interpreted to have been emplaced by upward moving hydrothermal and epithermal solutions driven by a large porphyry system directly below.
The gold-copper drill intercepts to date vary from longer intersections of lower grade to higher grade over shorter sections.
Drill Hole | From | To | Interval m | g/t gold | % copper |
C11-01 | 127.0 | 214.0 | 87.0 | 0.23 | 0.03 |
C12-05(1) | 88.1 | 206.9 | 118.8 | 0.30 | 0.06 |
incl | 152.1 | 161.2 | 9.1 | 6.46 | 0.27 |
C12-05(1) | 377.6 | 542.2 | 164.6 | 0.32 | 0.07 |
incl | 499.5 | 505.6 | 6.1 | 4.45 | 0.51 |
C13-02 | 121.3 | 170.1 | 48.8 | 0.35 | 0.06 |
C13-03 | 204.9 | 207.9 | 3.0 | 1.90 | 0.23 |
C20-03(2) | 247.0 | 329.0 | 82.0 | 0.23 | 0.11 |
incl | 325.0 | 327.0 | 2.0 | 7.05 | 0.26 |
C20-03 | 394.0 | 408.0 | 14.0 | 0.84 | 0.17 |
C21-01 | 541.0 | 744.0 | 203.0 | 0.32 | 0.06 |
C21-02 | 176.5 | 313.0 | 136.5 | 0.18 | 0.03 |
and | 414.0 | 436.0 | 22.0 | 0.70 | 0.01 |
and EOH | 608.0 | 611.0 | 3.0 | 0.76 | 0.05 |
- High gold values cut to 1.16 g/t gold
- Assay interval of 7.05 g/t gold cut to 1.80 g/t gold
The porphyry is intact and has not been unroofed or exposed at surface and eroded. It lies beneath a 30 to 100m thick layer of glacial till, and 100-150m thick phyllic altered cap.
Captain is an early discovery stage project with similarities to other calc-alkaline porphyries in the BC Cordillera area such as Red Chris where the bulk of the deposit was hidden until deep drilling outlined its potential. All of the mineralized intercepts to date indicate a "gold enriched" porphyry system. The primary target is large and the Company is currently planning the next phase of drilling.
The Company has an approved Notice of Work from the BC Ministry of Mines and Petroleum Resources which will cover the next several drill programs.
Mr. Gary Nordin P.Geo, has reviewed the technical information on the Captain Project and has visited the site.
SHARE STRUCTURE
Common Shares Outstanding | 56,660,232 | ||||
Stock Options | 4,520,000 | ||||
Warrants | 0 | ||||
Fully Diluted Common Shares Outstanding | 61,180,232 |
January 2023
January 2023
January 2023
For more information contact | CORPORATE OFFICE |
Investor Relations at | Orestone Mining Corp. |
info@orestone.ca | 407 - 325 Howe Street |
604.629.1929 | Vancouver BC V6C 1Z7 |
orestone.ca | |
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Orestone Mining Corp. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 01:16:04 UTC.