- Orestone Mining (TSXV:ORS) has entered into an agreement to earn up to 75 per cent interest in the Las Burras-Incahuasi property in Argentina
- The property is in Salta Province roughly 100 kilometres from Salta City and is host to two large porphyry systems
- Previous drilling at the Las Burras target intersected widespread copper-gold mineralization
- Shares of Orestone Mining are unchanged at C$0.02
Orestone Mining (TSXV:ORS) has entered into an agreement to earn up to 75 per cent interest in the Las Burras-Incahuasi property in Argentina.
In a news release, the company stated the property is in Salta Province roughly 100 kilometres from Salta City and is host to two large porphyry systems.
Previous drilling at the Las Burras target intersected widespread copper-gold mineralization, including: drill hole LB-3 intersecting 256 metres grading 0.23 per cent copper; 0.060 parts per million gold and 0.019 per cent molybdenum.
“We are excited to option the Las Burras property as we believe that it represents low hanging fruit so to speak, as there is solid potential to outline a large bulk tonnage copper-gold-molybdenum deposit,” David Hottman, CEO of Orestone Mining, said in a statement. “Orestone plans to complete an [airborne magnetotellurics] (AirMT) survey over the target area which will better define the conductive porphyry system and then drill test the areas beneath, west and east of drill hole LB-3 where we believe we will find better grades by locating the potassic altered core of the porphyry system.”
Under the terms of the agreement, Orestone will have an initial three-year option plan to earn a 51 per cent interest in the property by making four payment installments amounting to US$100,000 and incurring cumulative expenditures of $1.9 million.
Previous drilling done in 2011 by Cascadero intersected copper gold mineralization in three drill holes spaced at 250 metre centres within the eastern end of a mapped 1,000-by-800-metre zone of monzodiorite intrusive.
Orestone plans to complete an AirMT survey over the mineralized target to better define the conductive porphyry system and drill test the areas beneath, west and east of drill hole LB-3.
With headquarters out of Vancouver, Orestone Mining is a mineral exploration company with its primary asset being the 100-per-cent-owned Captain gold-copper project in north central British Columbia that is host to a large gold dominate porphyry system.
Shares of Orestone Mining (TSXV:ORS) are unchanged at C$0.02.
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