Orestone Mining has reported the results of the hole DDHC12-01diamond drilled at the Captain Porphyry project, containing gold and copper. This project lies 43 km towards the northern part of Fort St. James in BC and around 30 km towards the Mt. Milligan deposit’s southern part.
The Mt. Milligan deposit has 482 Mt of proven and probable reserves that defined the grade 0.39% gold and 0.20% copper. Thompson Creek Metals is developing this deposit as a huge open pit mine.
The company drilled the hole C12-01 to examine a huge IP target present on a magnetic high, monzonite intrusive’s eastern flank as a step from the hole C11-01 that identified carbonate-potassic-sericite altered volcanics, which grades 0.025% copper and 0.230 g/t gold over 85 m.
Strongly altered carbonate-potassic-sericite volcanics and monzonite intrusive dykes were encountered in the hole C12-01 from below the overburden at 60 m to a depth of 500 m along with 10-20% dispersed sulphides. This hole has low values of gold and copper ranging up to 0.03% copper and from trace to 0.30 g/t gold and indicated that this hole lies in the porphyry system’s external pyritic halo.
The company’s additional exploration on the East IP target has focused on southeast and northeast area of the hole C11-01 or C12-01 along the east of the IP anomaly. The location of a second new IP porphyry target is on the magnetic high, monzonite intrusive’s western flank over 1,000-3,000 m of thickness and along 4,000 m of strike.
Orestone has shown the presence of huge porphyry system in the area of dispersed suphides that were found over 7,000 x 7,000 m area related with altered monzonite intrusive. The primary drilling of 1,150 m, totaling four holes, has examined the western areas of one IP anomaly.
The B.C. Ministry of Energy and Mines has approved the company’s 30 drill sites on the Captain project.