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Orestone Outlines Large Buried Gold-Copper Porphyry System at Captain Property in North Central British Columbia
Vancouver, British Columbia--(Newsfile Corp. - February 3, 2021) - Orestone Mining Corp. (TSX...
About this update from Orestone Mining Corp.
[{"type":"text","content":"Orestone Outlines Large Buried Gold-Copper Porphyry System at Captain Property in North Central British ColumbiaVancouver, British Columbia--(Newsfile Corp. - February 3, 2021) - Orestone Mining Corp. (TSXV: ORS) (FSE: O2R1) (WKN: A2DWW7) (the \"Company\") is pleased to announce that results from drill hole C20-03 and re-logging and interpretation of previous drill holes C12-03 and C19-03 have outlined a large highly potassic-sericite altered monzonite gold-copper mineralized porphyry system. The mineralized potassic-sericite altered porphyry intrusive was intersected in all three holes at a depth of 170 to 270m beneath a 30 to 100m thick layer of glacial till and a 100-150m thick phyllic altered cap. The porphyry system is also associated with a distinctive magnetic low measuring 600m x 1300m surrounded by a crescent shaped magnetic high associated with propylitic altered diorite/monzonite and, on the SW a magnetic alkaline porphyry system (see website for maps).Additionally, we now believe that this porphyry system is the source of the mineralized xenolith intersected in hole C13-03 (the Admiral Target) 250 metres to the north. The xenolith is a 3 metre block of potassic-sericite altered intrusive which assayed 1.9 g/t gold, 11 g/t silver and 0.226 % copper within an otherwise unaltered and barren post mineral dyke.The Captain Project has similarities to other calc-alkaline porphyries in the BC Cordillera such as Red Chris where the bulk of the deposit was hidden until deep drilling outlined its potential.During the recent drill program hole C20-03 was drilled to a depth of 473m. The total gold mineralized porphyry interval extends from 247m - 408m (161m), however it is disrupted by barren post mineral porphyry dykes emplaced along sub-vertical faults on the eastern margin of the system. Potassic-sericite altered porphyry was intersected at a depth of 247m with grades of 0.10-0.20 g/t gold increasing with depth in two zones: 20m grading 0.72 g/t gold equivalent (interval of 7.05 g/t gold cut to 1.80 g/t); and 14m grading 1.04 g/t gold equivalent. These intercept details are listed in the following table.FromToIntervalGoldCopperEquiv metresmetresmetresg/t%Gold g/t **247329820.230.110.32incl 309329200.50*0.190.72*and 394408140.840.171.04 * Assay interval of 7.05 g/t gold cut to 1.80 g/t gold.** Gold equivalent calculated us...