Orestone Las Burras Project Overview and Exploration Plans
Vancouver, October 23, 2024 - Orestone Mining Corp. (TSXV: ORS) (OTC Pink: ORESF) (FSE: O2R2) ("the Company") is pleased to provide an overview of the Las Burras-Incahuasi project and future exploration plans. The Las Burras-Incahuasi project hosts two large porphyry copper-gold-molybdenum systems located in Salta Province, Argentina approximately 100 kilometres northwest of Salta City. The Las Burras and Incahuasi porphyry systems, which are approximately 3 kilometres apart, have been partially defined by mapping, sampling, trenching, geophysical surveys and very limited drilling. The project has not been adequately tested and no work has been carried out in the area for over 10 years.
The systems were initially defined by induced polarization and magnetic surveys that are characterized by resistivity low-conductivity high values and a co-incident magnetic low which are features typical of large porphyry systems. Additionally, several peripheral vein and stockwork hosted gold occurrences have been mapped which are also typically associated with porphyry systems. (click here for more Las Burras information)
Las Burras and Incahuasi Porphyry Cu-Au-Mo Projects, Salta Province, Argentina
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Initial drilling intersected anomalous copper-gold and molybdenum over intervals up to 300 metres and in some cases over the entire drill hole length. These mineralized intercepts assayed from 0.10 to 0.40 percent copper and 0.01 ppm gold which is similar to the intersections on the periphery of large copper porphyries in the area. There has been no follow up drill testing of the potential 1000 to 4000 metre shallow overburden covered extensions to these targets.
Orestone plans to carry out an Airborne Magnetotelluric (MT) survey over an area of 18 square kilometers covering both the Las Burras and Incahuasi porphyry systems. This will more clearly define priority drill targets both near surface and to depth within these large target areas. Orestone has identified and contacted geophysical contractors qualified to carry out the survey in Argentina providing the survey area size and scope of work to be carried out; quotation and scheduling parameters are being discussed.
David Hottman, Orestone's CEO, stated: "Orestone has two exciting and strategic projects in our exploration portfolio: the Las Burras-Incahuasi copper porphyry property in Argentina discussed above and a gold-dominant porphyry trend on the Captain project in BC. These properties each host two large targets within robust mineralized systems and hold significant resource potential. The copper-gold-molybdenum porphyry targets at Las Burras in Argentina are located along a prominent structural corridor and in a similar geologic terrain as several large deposits in Argentina and Chile. Orestone employs advanced geological and geophysical techniques in our exploration programs and plans to complete an AirMT survey over targets on both of these projects to cost effectively define and refine the conductive porphyry targets so that they can be systematically drill tested. Both of these high potential projects have a relatively low cost profile to hold and explore at a time when we are seeing indications of the current commodity cycle gaining momentum. The Company believes the investment markets are starting to notice exploration stage companies which may increase the availability of funding for mineral exploration. When coupled with Orestone's exposure to both gold and copper projects this trend could well reward shareholders, should a large discovery be outlined."
Orestone can earn up to a 75-per-cent interest in the 56.8 square kilometer Las Burras-Incahuasi porphyry property on favorable terms (see press release dated September 3, 2024).
Gary Nordin, P.Geo, a Director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Nordin has reviewed and approved the technical information in this press release.
Orestone Mining Corp. is a mineral exploration company headquartered in Vancouver, British Columbia. The Company's primary asset is the 100 percent owned Captain gold-copper project in North Central BC which hosts a large gold dominate porphyry system. The Las Burras property optioned in Salta Argentina provides large scale copper exposure to the Company. Both projects are road accessible and suitable for exploration year-round. For more information, please visit Orestone's website at: www.orestone.ca
ON BEHALF OF ORESTONE MINING CORP.
David Hottman
CEO
For further information contact: David Hottman at 604-629-1929 | info@orestone.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
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