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Orestone Signs All Necessary Contracts to Drill Resguardo Copper-Gold Porphyry Project Chile
Vancouver, British Columbia--(Newsfile Corp. - June 18, 2020) - Orestone Mining Corp. (TSXV: ...
About this update from Orestone Mining Corp.
[{"type":"text","content":"Orestone Signs All Necessary Contracts to Drill Resguardo Copper-Gold Porphyry Project ChileVancouver, British Columbia--(Newsfile Corp. - June 18, 2020) - Orestone Mining Corp. (TSXV: ORS) (WKN: A2DWW7) (the \"Company\") is pleased to announce that it has signed contracts with Perfo - Chile Ltda., Araya Hermanos S.A. and others to prepare for and carry out a reverse circulation drilling program at the Company's Resguardo copper-gold porphyry/manto project. The Resguardo Project is located 75 kilometres NE of the City of Copiapo, Region III Northern Chile. Access is excellent along Highway 31 which is the main route to the La Coipa Mine and the northern Maricunga Gold Belt.In preparation for drilling Araya Hermanos S.A, an experienced contractor based in Copiapo will improve the existing road infrastructure on the property and complete minor drill pad construction. Access to the drill area from provincial highway No. 31, is provided by the 4.5 km road used historically for exploration and small-scale copper-gold mining. Upon completion of the drill pads Perfo - Chile Ltda., an experienced and well-respected drill contractor will complete a minimum of 1200 metres of reverse circulation drilling in up to five drill holes. Drilling will test a strong 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 chargeability anomaly, which is a new discovery and has never been drilled, is located immediately west of an outcropping zone of oxide copper mineralization grading 1 to 7% copper and approximately 0.50 g/t gold that was mined historically in a series of pits and shallow underground workings. 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 project hosts copper-gold mineralization in mantos, skarns and breccia bodies in the historic workings accompanied by surface 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 over the IP anomaly. Ad...