Drill Results
Orestone Expands Francisca Gold - Silver Project to Twenty-Three Square Kilometres and Acquires Important Geophysical Survey Data
Orestone expands its Argentine gold-silver footprint to 23 square kilometres, targeting a buried porphyry system following encouraging trench results.
Executive Summary
- Orestone Mining Corp. announced the expansion of its Francisca Gold-Silver Project in Salta Province, Argentina, by acquiring the 14.40 sq km Francisca II concession for US$104,000, bringing the total project footprint to 23 sq km.
- The company acquired historic time-domain IP, Resistivity, and magnetic survey data from 1999, which delineated a 1,700m long by 500-700m wide chargeability anomaly averaging 7.9 mV/V, with strong features up to 20 mV/V suggesting a potentially larger buried gold porphyry system at depth.
- Initial assay results from Phase I trenching at the South Gold Zone were highlighted: Trench T7 returned 36.97m @ 0.78 g/t Au and 7.20 g/t Ag, while Trench T8 returned 23.47m @ 4.71 g/t Au and 28.54 g/t Ag (including 6.26m @ 12.31 g/t Au and 92.40 g/t Ag).
- The company is compiling results to define drill targets for an upcoming Phase I drilling program.
Material Impact
- The most recent news release is a direct continuation of the exploration program announced in May 2026. The trench assay results reported here were already disclosed in the May 7, 2026 release, meaning the core data is not new to the market.
- The primary new information is the land expansion to 23 sq km and the acquisition of historic geophysical data. While the geophysics adds a compelling long-term target (a buried porphyry system), it is historical data and does not represent new drilling or immediate near-term value.
- The news is incremental and expected. It confirms management's stated plan to derisk the project before drilling. There is no new capital raised, no change in the earn-in structure, and no immediate drilling commencement. The market likely priced in the trench results in May; this release serves as a procedural update rather than a catalyst.
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Company Overview
- Orestone Mining Corp. is a junior mineral exploration company focused on gold and copper/gold properties in Argentina and British Columbia.
- Flagship Project: Francisca Gold-Silver Project in Salta Province, Argentina. The property covers 23 sq km and is accessed via gravel roads off National Highway RTE 51 at elevations of 3,300-3,650m.
- The project is characterized by a northwest-striking oxide gold stockwork mineralized trend. The South Gold Zone shows strong surface exposure, while geophysical data suggests a deeper porphyry system.
- The company holds an option to earn up to an 85% interest by spending US$4.2 million in cash and exploration expenditures over seven years.
- Secondary Project: Captain Gold-Copper Porphyry Project in British Columbia, Canada, where an amended Notice of Work was filed for 23 additional drill locations.
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Jun 26, 2026 · 08:31