Orestone Acquires Large Oxide Gold Stock-Work System in Salta Province, Argentina
Orestone Mining Corp. (ORESF) has signed an option agreement to acquire up to 85% interest in the seven square kilometer Francisca property in Salta Province, Argentina. The property features an oxide gold stock-work mineralized trend extending 1100 metres, with two gold zones measuring 400-450 metres in strike length and 50-100 metres in width.
Historic exploration data from 1996-1999 showed promising results, with initial grab samples averaging 0.958 g/t gold. Notable trench results include 52 metres grading 3.65 g/t gold with 17.88 g/t silver, and 110 metres grading 0.82 g/t gold with 7.33 g/t silver. The acquisition terms include total cash payments and exploration expenditures of US$4.2 million over seven years.
The company aims to develop a bulk tonnage oxide gold deposit suitable for open-pit mining and heap leach recovery methods. The property is accessible year-round and located in an area with good infrastructure.
Orestone Mining Corp. (ORESF) ha firmato un accordo di opzione per acquisire fino all'85% di partecipazione nel proprietà Francisca di sette chilometri quadrati nella provincia di Salta, Argentina. La proprietà presenta una tendenza mineralizzata a stock-work di oro ossidato che si estende per 1100 metri, con due zone d'oro lunghe 400-450 metri e larghe 50-100 metri.
I dati storici di esplorazione dal 1996 al 1999 hanno mostrato risultati promettenti, con campioni iniziali che mediavano 0.958 g/t di oro. I risultati notevoli delle trincee includono 52 metri che hanno registrato 3.65 g/t di oro con 17.88 g/t di argento, e 110 metri con 0.82 g/t di oro e 7.33 g/t di argento. I termini di acquisizione includono pagamenti in contanti totali e spese di esplorazione di 4.2 milioni di dollari USA in sette anni.
L'azienda mira a sviluppare un deposito di oro ossidato a tonnellaggio bulk adatto per metodi di estrazione a cielo aperto e recupero per percolazione. La proprietà è accessibile tutto l'anno e si trova in un'area con buona infrastruttura.
Orestone Mining Corp. (ORESF) ha firmado un acuerdo de opción para adquirir hasta el 85% de interés en la propiedad Francisca, que abarca siete kilómetros cuadrados en la provincia de Salta, Argentina. La propiedad presenta una tendencia mineralizada de oro oxidado en stock-work que se extiende por 1100 metros, con dos zonas de oro que miden entre 400-450 metros de longitud y 50-100 metros de ancho.
Los datos históricos de exploración de 1996 a 1999 mostraron resultados prometedores, con muestras iniciales que promediaron 0.958 g/t de oro. Los resultados notables de las trincheras incluyen 52 metros con una ley de 3.65 g/t de oro y 17.88 g/t de plata, y 110 metros con 0.82 g/t de oro y 7.33 g/t de plata. Los términos de adquisición incluyen pagos en efectivo y gastos de exploración de 4.2 millones de dólares estadounidenses durante siete años.
La empresa tiene como objetivo desarrollar un depósito de oro oxidado de toneles bulk adecuado para minería a cielo abierto y métodos de recuperación por lixiviación. La propiedad es accesible durante todo el año y se encuentra en un área con buena infraestructura.
Orestone Mining Corp. (ORESF)는 아르헨티나 살타주에 위치한 프란시스카 속성에서 최대 85%의 지분을 인수하기 위한 옵션 계약을 체결했습니다. 이 속성은 1100미터에 걸쳐 있는 산화성 금 광맥을 특징으로 하며, 두 개의 금 광구는 각각 400-450미터의 길이와 50-100미터의 너비를 가지고 있습니다.
1996년에서 1999년까지의 역사적 탐사 데이터는 유망한 결과를 보여주었으며, 초기 채취 샘플의 평균이 0.958 g/t 금이었습니다. 주목할 만한 트렌치 결과로는 52미터에서 3.65 g/t 금과 17.88 g/t 은을 포함한 경우와 110미터에서 0.82 g/t 금과 7.33 g/t 은을 포함한 경우가 있습니다. 인수 조건에는 7년 동안 총 420만 달러의 현금 지급과 탐사 비용이 포함됩니다.
회사는 오픈 피트 채굴 및 Heap Leach 회수 방법에 적합한 대량의 산화성 금 매장을 개발하는 것을 목표로 하고 있습니다. 이 속성은 연중무휴 접근 가능하며, 인프라가 잘 갖춰진 지역에 위치해 있습니다.
Orestone Mining Corp. (ORESF) a signé un accord d'option pour acquérir jusqu'à 85 % d'intérêts dans la propriété Francisca d'une superficie de sept kilomètres carrés dans la province de Salta, en Argentine. La propriété présente une tendance minéralisée à stock-work d'or oxydé s'étendant sur 1100 mètres, avec deux zones d'or mesurant entre 400 et 450 mètres de long et de 50 à 100 mètres de large.
Les données historiques d'exploration de 1996 à 1999 ont montré des résultats prometteurs, avec des échantillons initiaux affichant une moyenne de 0,958 g/t d'or. Parmi les résultats remarquables des fouilles, on note 52 mètres avec une teneur de 3,65 g/t d'or et 17,88 g/t d'argent, ainsi que 110 mètres avec 0,82 g/t d'or et 7,33 g/t d'argent. Les conditions d'acquisition comprennent des paiements en espèces et des dépenses d'exploration totalisant 4,2 millions de dollars américains sur sept ans.
L'entreprise vise à développer un dépôt de tonnage en vrac d'or oxydé adapté à l'exploitation à ciel ouvert et aux méthodes de récupération par lixiviation. La propriété est accessible toute l'année et est située dans une zone bien desservie en infrastructure.
Orestone Mining Corp. (ORESF) hat einen Optionsvertrag unterzeichnet, um bis zu 85 % Interessen an der Francisca-Immobilie in der Provinz Salta, Argentinien, zu erwerben. Die Immobilie weist einen 1100 Meter langen mineralisierten Trend mit oxidiertem Gold im Stockwerk auf, wobei zwei Goldzonen eine Länge von 400–450 Metern und eine Breite von 50–100 Metern haben.
Historische Explorationsdaten von 1996 bis 1999 zeigten vielversprechende Ergebnisse, wobei erste Stichproben im Durchschnitt 0,958 g/t Gold ergaben. Bemerkenswerte Erbohrungsergebnisse umfassen 52 Meter mit 3,65 g/t Gold und 17,88 g/t Silber sowie 110 Meter mit 0,82 g/t Gold und 7,33 g/t Silber. Die Erwerbsbedingungen umfassen Gesamtkassenzahlungen und Explorationsausgaben in Höhe von 4,2 Millionen US-Dollar über einen Zeitraum von sieben Jahren.
Das Unternehmen plant, ein Bulk-Tonnen-Lager mit oxidisiertem Gold zu entwickeln, das für den Tagebau und die Heap-Leach-Rückgewinnungsmethoden geeignet ist. Die Immobilie ist ganzjährig zugänglich und befindet sich in einem Gebiet mit guter Infrastruktur.
- Property shows significant gold mineralization with high-grade intervals up to 109 g/t gold
- Historic trenching revealed substantial intervals: 52m @ 3.65 g/t Au and 110m @ 0.82 g/t Au
- Large mineralized system with 1100m strike length and two major gold zones
- Year-round accessibility and good infrastructure in mining-friendly jurisdiction
- Significant upfront commitment of US$4.2M required over 7 years
- Historic drilling data is and poorly oriented
- Detailed assay data from previous trenches and drilling not available
- Non-43-101 compliant historic data
Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - Orestone Mining Corp. (TSXV: ORS) (OTC Pink: ORESF) (FSE: O2R2) ("the Company") is pleased to announce that it has signed an Option Agreement ("the Agreement") to earn up to an 85 per-cent interest in the seven square kilometer Francisca property located in Salta Province, northwestern Argentina approximately 80 kilometres northwest of the city of Salta. 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. Orestone is targeting an oxide gold deposit mineable by open pit methods and amenable to heap leach gold recovery.
Two gold zones have been outlined to date within the trend. The surface expression of the North and South zones each measure 400 to 450 metres in strike length and widths vary from 50-100 metres. The zones are surrounded by a 500 to 1000 metre wide area of strongly hornfels altered sediments and a large IP changeability anomaly indicating a potential 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.
Eighteen surface trenches have initially outlined the zones at 50 to 100 metre spacings with 11 trenches encountering significant gold and silver values. Mansfield Minerals discovered the zones in 1996 based on 300 initial grab samples from the exposed gold zones averaging 0.958 g/t gold. Mansfield then conducted detailed geological and structural mapping, trenching and detailed sampling in the period 1996-1999. Cascadero Copper later resampled portions of the trenches and drilled thirteen diamond drill holes in 2006 to depths of 30 to 100 metres. Drilling however was poorly oriented with a northerly strike and did not adequately test the target gold zone.
High grade intervals of gold are noted in historic summary reports and on trench maps over widths of 3 to 14 metres with grades from 1 to 109 g/t gold. Summaries of trenching data across the South zone are noted to have gold assay intervals of 52 metres grading 3.65 g/t gold with 17.88 g/t silver in trench TZ1 and 110 metres grading 0.82 g/t gold with 7.33 g/t silver in trench TZ2. The mineralization in both trenches remains open, indicating the potential for expansion. Mansfield noted that the high-grade intervals are hosted within a broad zone of lower grade material but only the higher-grade zones were noted.
David Hottman, Orestone's CEO, stated: "We are excited to option the Francisca property as we believe that it represents an opportunity to outline a bulk tonnage oxide gold deposit. Francisca is a robust gold system discovered during a period of historically very low gold prices with no meaningful work conducted for almost 20 years. Orestone's goal on the Francisca property 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. Orestone plans to conduct a program of detailed mapping and trench re-sampling followed by drilling to test the gold zones."
Terms of the Option Agreement: Orestone has signed an Option Agreement with two arms-length Argentinian vendors to earn up to an eighty five percent (
Cash payment and exploration expenditure schedule:
| Date for Completion and Time Period | Cash Payment | Expenditures | |
| After Due Diligence period | 15 days | US | Nil |
| August 4, 2025 | 6 months | US | Nil |
| February 4, 2026 | 1st Anniversary | US | US |
| February 4, 2027 | 2nd Anniversary | US | US |
| February 4, 2028 | 3rd Anniversary | US | US |
| February 4, 2029 | 4th Anniversary | US | US |
| February 4, 2030 | 5th Anniversary | US | US |
| February 4, 2032 | 7th Anniversary | US | |
| TOTAL | US | US | |
The Francisca property is in the eastern puna-Altiplano region at an elevation of 3300 to 3650 metres with moderate terrain, limited vegetation and is easily accessible via paved and gravel roads. Exploration can be conducted year-round. Salta is a region of good infrastructure where numerous large-scale copper, gold and lithium projects are being developed.
Orestone does not have the detailed assay data of the 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 only poorly tested by drilling. 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 and copper with lesser amounts of silver and molybdenum in Canada and Argentina. Orestone's near term objective on the Francisca gold property in Salta Province, Argentina is to define an oxide gold deposit mineable by open pit methods using low cost heap leach gold recovery. 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; permitted and drill ready. The Las Burras property optioned in Salta Argentina provides large scale copper exposure to the Company. All three 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240377
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