Orestone Mining expands Francisca property

Executive Summary

• Orestone Mining Corp. amended its option agreement to add ~2 km² of contiguous land to the Francisca gold‑silver project in Salta, Argentina, bringing the total covered area to ~9 km².
• The amendment requires a cash payment of US$10,300 and brings the company closer to earning an 85 % interest by meeting the overall $4.2 M cash/exploration spend commitment over seven years.
• A two‑phase exploration program is planned: Phase 1 – detailed mapping and ~580 rock‑chip samples; Phase 2 – a 1,200 m reverse‑circulation drill campaign of eight holes to 150 m depth targeting the high‑grade South zone.

Key Details

• Land Expansion: Additional ≈2 km² contiguous with existing Francisca property; total project area now ~9 km².
• Option Agreement Terms: Up to 85 % interest attainable with $4.2 M cash and exploration expenditures over seven years; amendment payment of US$10,300 made to Argentine vendors.
• Geology Overview: Oxide gold stockwork trend 1,100 m strike length; two zones (North & South) within a 500–1,000 m wide hornfels‑altered belt; IP chargeability anomaly suggests deeper intrusive body.
• South Zone Sampling Results (previous): 20 rock‑chip samples; grades 0.03–33 g/t Au and 2–160 g/t Ag; average 5.78 g/t Au and 29.2 g/t Ag (cuts: 10 g/t Au, 60 g/t Ag).
• Future Exploration – Phase 1: Detailed mapping plus ~580 rock‑chip samples from 11 existing trenches across the 500 m strike length of South zone.
• Future Exploration – Phase 2: Reverse‑circulation drilling program: 8 holes, total 1,200 m, depth up to 150 m, spacing 40–80 m, designed to intersect the defined mineralized envelope.
• Technical Review: Gary Nordin, P.Geo., director and qualified person under NI 43‑101, reviewed and approved all technical information.
• Las Burras Property: Option to earn interest in the Las Burras‑Incahuasi copper porphyry property has been terminated; no further work planned there.

Notable Quotes

“The Francisca property covers a robust gold system discovered during a period of historically very low gold prices… With the expansion of the land package complete, Orestone plans to conduct a program of detailed mapping and trench resampling followed by drilling to test the gold system.” – David Hottman, CEO, Orestone Mining Corp.