ORESTONE MINING CORP. 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 core of the T1 resistivity anomaly measures 500 x 1000 metres at a depth of 900 metres below surface increasing in size to 1500 x 1500 metres over a 1000 metre vertical profile and remains open to depth below 1900 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 results of the MobileMT survey are highly encouraging showing better definition of the large T1 gold dominant porphyry target. With definition of an area of approximately one cubic kilometre (1km-3) in size there is more than enough room to encounter some considerable tonnage. The next drill program is being planned for winter 22/23,' states
FIVE KM LOW RESISTIVITY TREND
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.
Neither the
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 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 permits, 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 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
Contact:
Corporate Office
Tel: +1 604.629.1929
Email: info@orestone.ca
(C) 2022 Electronic News Publishing, source
