ORESTONE MINING CORP. One hole C22-01 was drilled to the east of a major NW trending fault to test an inferred porphyry intrusive target indicated by a large, highly conductive geophysical Magneto-Telluric (MT) anomaly at a depth of 500 metres. The hole intersected a barren andesite volcanic and volcanoclastic sequence to 675 metres followed by highly conductive graphitic sediments to a total depth of 774 metres. A 75 metre thick potassic altered porphyry sill with disseminated sulphides was intersected at the volcanic-sediment contact, however carried only background gold-copper values.
Orestone's interpretation based on the results of drill hole C22-01, is that the major NW trending fault both truncated the gold-copper mineralization to the west as well as uplifted by an estimated 450 metres, the sequence of andesitic volcanics, volcanoclastics, and the underlying graphic sediments. The sediments are interpreted as being responsible for the highly conductive MT anomaly.
Further exploration at Captain will focus on the large sericite potassium feldspar alteration halo which measures 2000 by 2000 metres where numerous gold-copper mineralized drill intercepts have been encountered. The principal porphyry style targets are: 1. A large target area measuring 500 metres thick along a strike length of 800 metres with a width in excess of 1000 metres, (500m x 800m x1000m). Within this zone, sericite potassic altered latite volcanics host alkaline and calc-alkaline style gold-copper mineralization on three sides. 2. A large alteration zone located south of drill holes C12-02 and C12-04 both of which cut thick zones of sericite potassic feldspar alteration and sulphide mineralization, and west of drill holes C13-02 and C19-07 which intersected a gold-copper mineralized alkaline dyke system associated with a NW trending fault.
Both of these target areas have only been drill tested at the fringes and remain largely untested. Both targets are also co-incident with strong induced polarization (IP) chargeability highs and magnetic lows.
The gold-copper mineralization encountered in drilling to date varies from longer intersections of lower grade to higher grade over shorter sections.
Contact:
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