2012-11-14 13:07:56 -
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- Orestone Mining Corp. (TSX VENTURE:ORS) (the "Company") is pleased to report that manpower and equipment have been mobilized to the Captain Project in preparation for drilling. 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-gold deposit. The Mt. Milligan deposit has proven and probable reserves of 532 Mt grading 0.20% copper and 0.38 g/t gold (Thompson Creek Metals website) and is currently under construction by Thompson Creek Metals Company Inc. as a large open pit mine and processing facility.
In preparation for drilling we will be cutting in approximately one kilometer of roads, building drill pads and organizing the drill core cutting and logging facilities near Fort St. James. The project area features relatively flat terrain, moderate tree cover and an extensive network of logging and Forest Service roads suitable for exploration all year.
The project hosts a large copper/gold porphyry system measuring seven by seven kilometers that remains open to the east and west. Over this immense area one of the four diamond drill holes completed on the East Target Area intercepted gold- copper similar in tenor to that of the Mt. Milligan deposit: drill hole C11-01 intercepted 87 metres grading 0.23 g/t gold and 0.03 % copper; including 43 metres grading 0.298 g/t gold and 0.09 % copper; as well as 16 metres grading 0.434 g/t gold and 0.133% copper (See Company news release dated February 23, 2012).
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 B.C. Ministry of Energy and Mines.
Orestone is well financed, has recently discovered the above described large copper/gold porphyry system on the 100% owned Captain Project and is seeing increased interest in the Stewart Mining Camp where the Company's 50 square kilometer Todd Creek (51%) asset is located.
ON BEHALF OF ORESTONE MINING CORP.
David Hottman, President and CEO
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.
Orestone Mining Corp.
President & CEO