Orestone Mining has begun the 2011 phase I exploration at the Captain project, which is situated around 65 km to the northeastern side of Fort St. James in British Columbia. The focus of the program will be to additionally explore the large gold-copper porphyry system potential at the property.
This phase I exploration includes line cutting for 25 km, resistivity and induced polarization (IP) surveys for 30 line kilometers on a 400 m line spacing to prepare for a 1,000 to 2,000 m drilling program and the budget for this program is $100,000. All the permits are ready to help the proposed drilling and surveys.
The location of the Captain Porphyry target is at the south of a group of gold-copper stream sediment geochemical anomalies that have been moved towards the north by glaciation and is considered to signify the bedrock source that characterizes a concurrent regional airborne magnetic high bordered by resistivity highs and induced polarization.
Diamond drill hole 09-05 was drilled to a depth of 137m vertically and intersected 45m of glacial till overburden before going into sericite or potassic altered volcanics, which is followed by a quartz monzonite intrusive. The bottom hole in the persistent sericite or potassic altered breccia grading yielded 0.34 g/t gold and 0.16% copper over 3.1 m.
Captain Target’s geophysical features are inferred to be analogous to Mt. Milligan deposit’s geophysical anomalies, which is situated 40 km to the north. These features along with the former drilling and geochemical information show the prospective for a considerable gold-copper porphyry discovery.
Currently, the captain project encloses 417 sq. km., with the addition of newly acquired claims, which is sited around 65 km northeast of Fort St. James in BC.