Orestone Completes Sampling Program on Francisca Gold Project
Rhea-AI Summary
Orestone Mining Corp (TSXV: ORS) (OTC: ORESF) has completed a sampling program at its Francisca gold property in Salta Province, Argentina. The program yielded significant results, particularly in the South gold zone, where 11 out of 20 samples exceeded 6.0 g/t gold. The South zone, characterized by strongly altered quartz stockwork, extends over 500 meters in length and 50-100 meters in width.
The South zone samples ranged from 0.03 to 33 g/t gold and 2.0 to 160 g/t silver, averaging 5.78 g/t gold and 29.2 g/t silver. The North zone, featuring a quartz manganese stockwork, showed values from 0.01 to 21.7 g/t gold, averaging 0.38 g/t gold excluding two high-grade samples of 9.4 and 21.7 g/t gold.
The company aims to define an oxide gold deposit suitable for open-pit mining and heap leach gold recovery methods. The mineralized trend extends over 1100 meters and is associated with quartz feldspar porphyry intrusive dykes and intense sericite alteration.
Positive
- High-grade gold results with 11 of 20 samples exceeding 6.0 g/t gold in South zone
- Significant average grades: 5.78 g/t gold and 29.2 g/t silver in South zone
- Large mineralization trend extending over 1100 meters
- Project suitable for potential low-cost heap leach recovery methods
Negative
- Historic data is non-43-101 compliant
- No meaningful work conducted on the property for almost 20 years
- Detailed historic assay data from trenches and drilling unavailable
11 of 20 Samples on the South Zone Assay Greater than 6.0 g/t Gold
Vancouver, British Columbia--(Newsfile Corp. - March 27, 2025) - Orestone Mining Corp. (TSXV: ORS) (OTC Pink: ORESF) (FSE: O2R2) ("the Company") is pleased to announce that it has completed a program of sampling on its Francisca property located in Salta Province, northwestern Argentina approximately 80 kilometres northwest of the city of Salta. Orestone is targeting an oxide gold deposit mineable by open pit methods and amenable to heap leach gold recovery.
A total of 38 check samples were taken; 20 samples on the South gold zone and 18 on the North gold zone and other areas. The South gold zone is a strongly altered quartz stockwork outlined over a strike length of 500 metres and width of 50 - 100 metres. Of the 20 samples taken on the South zone 11 were greater than 6.0 g/t gold and 8 samples assayed between 0.36 and 4.5 g/t gold. 13 samples were taken on the North gold zone, a quartz manganese stockwork zone, values are from 0.01 to 21.7 g/t gold averaging 0.38 g/t gold excluding two high grade samples of 9.4 and 21.7 g/t gold.
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The sampling confirms the high-grade nature of the South gold zone with 20 samples ranging in value from 0.03 to 33 g/t gold and 2.0 to 160 g/t silver, averaging 5.78 g/t gold and 29.2 g/t silver (gold grades cut to 10 g/t and silver grades cut to 60 g/t) (for larger map click here).
David Hottman, Orestone's CEO, stated: "The Francisca property covers a robust gold system discovered during a period of historically very low gold prices, which has seen no meaningful work conducted on it for almost 20 years. Results of the current sampling program correlates well with data from the historic work. Our goal is to define an oxide gold deposit that can be mined by open pit and would be amenable to low-cost heap leach gold recovery methods. Additional information regarding exploration plans will be released in the near future."
Previous sampling over the South zone noted in historic summary reports averaged, 5.69 g/t gold from 46 samples (high grade results cut to 10 g/t gold). Of these, 28 samples ranged from 3.0 to 109 g/t gold and 13 samples graded from 0.11 to 2.19 g/t gold. Orestone does not have the detailed assay data of the historic trenches or drilling as only summary data and maps of the higher-grade intervals encountered are available. The observations of gold assay values in the trenches are non 43-101 compliant due to their historic nature but the detailed geological mapping and exploration programs were done by competent professional geologists and indicate the presence of a significant, disseminated gold stock-work system that was only poorly tested by diamond core drilling.
Geologic mapping has outlined an oxide gold stock-work mineralized trend over a northwest strike length of 1100 metres outcropping on the crest of a moderate relief hill. The zones are surrounded by a 500 to 1000 metre wide area of strongly hornfels altered sediments and underlain by a large IP changeability anomaly indicating potential for a larger intrusive body at depth. The oxide gold quartz limonite stock-work trend is associated with quartz feldspar porphyry intrusive dykes and intense sericite alteration along NW trending faults.
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 property portfolio includes exploration exposure to gold, silver and copper in Canada and Argentina. Orestone's near term objective on the Francisca gold property is to define an oxide gold deposit mineable by open pit methods using low-cost heap leach gold recovery. The Company's primary asset continues to be the 100 percent owned Captain gold-copper project in North Central BC which hosts a large gold dominate porphyry system; permitted and drill ready. The optioned Las Burras property provides large scale copper exposure to the Company. All three projects are road accessible and suitable for year-round exploration. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246251
FAQ
What were the key findings from Orestone's (ORESF) Francisca gold project sampling program?
What is the size and characteristics of the South gold zone at ORESF's Francisca project?
How do the March 2025 sampling results compare to historical data at ORESF's Francisca property?
What is Orestone's (ORESF) development strategy for the Francisca gold project?
