Orestone Initiates Resguardo Property Exploration

June 21, 2019 6:30 AM EDT | Source: Orestone Mining Corp.

Vancouver, British Columbia--(Newsfile Corp. - June 21, 2019) - Orestone Mining Corp. (TSXV: ORS) (FSE: WKN: A2DWW7) (the "Company") is pleased to announce that it has initiated exploration on its Resguardo copper-gold Porphyry Project in Northern Chile. The Resguardo project is located 90 km NE of the City of Copiapo, Chile, covers 29 square km of mining concessions and can be explored year around. In 2019 exploration will consist of a program of geophysics followed by drilling.

A geophysical contractor has been mobilized to conduct a 10 line kilometre Induced Polarization/Resistivity geophysical survey (IP) at Resguardo. The program will consist of 5 lines of 2 km each designed to better define the presently identified IP chargeability anomaly and to test for a potential extension to the southwest. The "A" spacing or distance between measurements of 150 metres will provide clear target definition in preparation for drill hole location.

The present IP chargeability anomaly has been defined by two lines over a 1000 metre strike length and a width of 300-600 metres starting at a depth of 200 metres with values of 15-30 mv/V (millivolt/Volt).

Copper gold mineralization at Resguardo occurs as dissemination's and fracture coatings within a 50-100 metre wide vertical fracture zone along a strike length of 1500 metres, open to the southwest. Where favorable flat lying carbonate beds occur, copper gold Manto-skarn mineralization is present up to 20 metres in thickness. Historically near-surface oxide copper grading 1% to 7% and approximately 0.50 g/t gold was mined intermittently from pits and tunnels and sold to ENAMI for processing. Although sampling is believed to have been competently carried out, it was not certified by a professional geologist, therefore the results are not 43-101 compliant and cannot be relied upon.

Geologically the Resguardo project is located in the Middle Tertiary porphyry copper belt which hosts CODELCO's El Salvador and Potrerillos mines 80 kilometres to the north. The project is located along the north/south Domeyko Fault System (West Fissure) which hosts some of the largest copper deposits in the world and the confluence of regional fault systems coming out of the Maricunga Gold Belt which hosts numerous multi-million ounce gold and gold-copper deposits containing up to 25 million ounces of gold.

Additional information will be released as it becomes available.

Mr. Gary Nordin P.Geo, BC has reviewed the technical information contained in this news release and has visited the project.

To stay informed of the latest corporate activities please click here to provide consent and receive news and updates.

Orestone Mining Corp. is a Canadian based company that owns a 100% percent interest in the Captain gold - copper project located approximately 30 kilometres south of the Mt. Milligan Mine in British Columbia and has an option to purchase a 100% interest in the Resguardo copper project in Chile. For more information please visit: www.orestone.ca


"David Hottman"


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45792