VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/07/11 -- Orestone Mining Corp. (TSX VENTURE: ORS) is pleased to release the results of a recently completed induced polarization (IP)/Resistivity survey on the Captain copper-gold porphyry project located north of Fort St. James, British Columbia and approximately 30 kilometers south of the Mt. Milligan copper-gold deposit. The survey has outlined a large area of high IP chargeability, greater than 10 millivolts, covering an area measuring 4,000 by 6,000 meters.
The IP survey consisted of a total of 30 km of survey in six lines spaced 400 meters apart and was designed to expand upon previous geophysical surveys along logging roads. The objective of the survey was to better define the potential for copper-gold sulphide mineralization in the area surrounding Diamond Drill Hole 09-05 which encountered potassic altered volcanic and intrusive rock. This vertical drill hole reached a depth of 137 meters with the last 3.1 meters encountering mineralized breccia grading 0.21 % copper and 0.35 g/t gold.
The principal IP chargeability anomaly in the central portion of the survey area measures 1,000 meters by more than 4,000 meters and corresponds with a resistivity high. This coincident chargeability and resistivity high area is located on the western flank of a magnetic high interpreted to be a magnetite bearing intrusive measuring 1,000 to 2,000 meters wide and in excess of 5 kilometers in strike length. This geophysical signature covering the central chargeability/resistivity high target on the Captain Project is similar in nature to the MBX copper-gold deposit at Mt. Milligan.Within the survey area there are three separate IP chargeability anomalies that are flanked by magnetic high anomalies having widths of 1,000 meters or more that have yet to be fully outlined.
Orestone has 25 drill holes permitted in the area and is preparing to drill test the outlined anomalies in October, 2011. A map showing the interpreted results of the geophysical survey is posted on the Company's website.
"We are very pleased with the results of the IP survey as they confirm the potential for a large mineralized system on the Captain Property that we have only begun to explore. With 25 holes fully permitted we will move to the drilling phase of exploration aggressively," stated David Hottman, CEO and President.
Gary Nordin P. Geo., Vice-President of Exploration for Orestone Mining Corp., is a qualified person under the NI 43-101 guidelines and has reviewed the technical content of this news release.
Orestone Mining Corp. is a Vancouver, Canada based company managed by mining industry professionals. The Company controls a portfolio of gold and gold-copper exploration projects totaling more than 700 square kilometers in British Columbia.
Visit the Company's website at: www.orestone.ca.
ON BEHALF OF ORESTONE MINING CORP.
David Hottman, President and CEO
This news release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.
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.
Contacts:
Orestone Mining Corp.
David Hottman
President and CEO
604-629-1929
604-629-1930 (FAX)
www.orestone.ca
