Orestone Mining Corporation announced that the Company has commenced a core drilling program on the 100% owned Captain Project. As of this date the first drill hole in this program, 400 meters to the east of the discovery hole C11-01 is well advanced and is intersecting sulfide bearing material in altered volcanic rocks.
The drill program budgeted at USD 325,000 will consist of 1,000 meters of core drilling in three holes on the target area known as the East Target. Drill holes in the current program will be spaced approximately 400 meters east, southeast and northeast of C11-01.
Previous drilling in the East Target Area intercepted gold and copper similar in grade to that of the Mt Milligan deposit: drill hole C11-01 intercepted 87 meters grading 0.23 gram per tonne gold and 0.03 % copper including 43 meters grading 0.298 gram per tonne gold and 0.09 % copper as well as 16 meters grading 0.434 gram per tonne gold and 0.133% copper.
The project area features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration year round. The Company has all permits in place to facilitate the next several phases of exploration; 30 line kilometers of geophysics and 38 sites approved for drilling by the BC Ministry of Energy and Mines.
The 100% owned Captain project is located 43 kilometers north of Fort St. James, British Columbia and approximately 30 kilometers south of the Mt. Milligan copper and gold deposit. The Mt Milligan deposit has proven and probable reserves of 532 MT grading 0.20% copper and 0.38 gram per tonne gold and is currently under construction by Thompson Creek Metals Company Inc. as a large open pit mine and processing facility.
