Orestone Mining Corp.
) said that it has received approval from the B.C. Ministry of Energy and Mines for an additional 20 diamond drill holes and 44.9 kilometers of IP geophysics on the Captain project.
The Captain project hosts a large gold-copper porphyry system measuring seven by fourteen kilometers located 41 kilometers north of Fort St. James, British Columbia.
According to the Orestone Mining press release
, with this approval in place the company now has all permits to facilitate the next several phases of exploration.
The next phases of exploration will include 75 line kilometers of geophysics and 58 sites approved for drilling which increases coverage over the nine large magnetic high anomalies recently outlined.
Recent diamond drill hole C12-05, intersected long intervals of 0.30 to 0.65 grams per tonne gold and 0.06 to 0.07% copper over 119 meters and 165 meters.
When plotted on the detailed magnetic map, C12-05 and drill hole C11-01 lie on the southern fringe of a large circular magnetic high known as the Admiral target.
The Admiral target measures 1,000 metres by 1,500 metres and is the highest priority drill target on the Captain project and will be drilled during the 2013 summer field season.
Orestone is a junior exploration company focused on British Columbia.
On Tuesday, Orestone was trading at $0.055 a share. The company had a market cap of $2.1 million, based on 37.6 million shares outstanding.