Captain Property

  • Highlights

    • The 100% owned Captain Project is located 150 km north of Prince George, British Columbia, in the prolific Quesnel Trough terrane which hosts a number of copper-gold and copper-molybdenum porphyry deposits including the Mt Milligan copper-gold deposit located just 30 km north of Captain.
    • Orestone’s exploration, consisting of geophysical surveys and drilling, has developed a deposit model of a central magnetic high 4 km long and 2 km wide trending northwest associated with dioritic intrusives, flanked by 10 target areas up to 3km long and 1km wide defined by magnetic highs that also trend northwest.
    • The Company has received an approved 2020 Notice of Work from the BC Ministry of Mines and Petroleum Resources for 24 drill locations.

    • Two of the magnetic highs have been drill tested intersecting strong copper-gold mineralization associated with alkaline porphyry intrusions with pervasive potassium-feldspar-carbonate-chlorite-magnetite alteration in volcanics and hydrothermal breccias.

    • Orestone’s ongoing exploration plans are to drill test the largest of the 10 northwest trending magnetic anomalies, measuring 200-1000 metres in width and from 700 metres to 3000 metres along strike, in the west and east target areas. Drilling on Targets T4 and T9 will commence in November 2020.

    Summary

    The Captain Project area is covered by an extensive thick glacial till cover varying from 25 metres to 150 metres thick with only one small outcrop of silicified pyritic diorite outcrops in the centre of the area of interest. Initially road induced polarization (IP) surveys in 2009 outlined an extensive IP chargeability high on the main forest access road over a 7 kilometre east-west extent.

    A 135 km detailed ground magnetic survey and 35 km of induced polarization surveys on the Captain Project over an area of 6 km by 8 km outlined a large central NW trending magnetic high measuring 2000 metres in width and 4000 metres in length flanked by 10 large NW trending target areas marked by magnetic highs as (T1 – T10). The entire area is covered by moderate to high IP chargeability highs.

    The geological interpretation of the geophysical surveys is that the central magnetic high is related to a silicified diorite with minor pyrite and that the flanking NW trending magnetic highs are related to altered magnetic alkaline porphyry intrusives and potassic- carbonate-chlorite-magnetite altered volcanics and hydrothermal breccias with associated disseminated gold-copper mineralization.

    Orestone Mining has re-logged previous mineralized drill holes C13-02 and C19-07 on target T2 and defined large hydrothermal breccia zones 20-30 metres wide associated with intense potassium-feldspar-magnetite-carbonate alteration, alkaline porphyry dykes and gold-copper mineralization.

    The hydrothermal breccias are interpreted as feeders to the potassic-magnetite-carbonate alteration and gold-copper mineralization. The alteration and alkaline porphyry intrusives and associated gold-copper mineralization are interpreted to be controlled by large NW trending magnetic low, fault linears which bracket the magnetic high anomalies and extend from 2000 metres to 6000 metres in strike.

    Orestone has outlined 10 large NW trending magnetic anomalies measuring 200-1000metres in width and from 300 metres to 3000 metres along strike and is planning to drill test the largest targets on the west and east target areas.

    The east anomaly T4, measures up to 400 metres in width and 700 metres in strike and the west anomaly T9 measures up to 1000 metres in width x 3000 metres in strike. Both of these magnetic targets are bracketed by strong magnetic low, fault linears traced for 2000-6000 metres. Mineralization intersected on the 200 metres wide magnetic target T2 in holes C13-02 and C19-07 measures 70 metres in width with an average grade of 0.29 g/t Au and 0.062 % Cu with a 23 metres wide zone grading 0.56 g/t Au and 0.12% Cu. The magnetic high targets at T4 and T9 are significantly larger than T2.

    Orestone has received an approved 2020 Notice of Work by the BC Ministry of Mines and Petroleum resources for 24 drill hole locations to test the 10 large magnetic high targets at Captain. The drill holes are all located on existing logging roads with easy access 1-1.5 hours north of Fort St James in north central BC.

    Introduction

    The 100% owned Captain Project was acquired in 2007. The Company currently controls 2627 hectares (26 sq kilometres) of prime mineral rights in the politically-safe jurisdiction of British Columbia.

    Location and Access

    The Captain Project is situated in central British Columbia about 150 kilometres north of the City of Prince George. The two nearest communities are Fort St. James and Mackenzie. The area boasts year-round road access and excellent infrastructure. Recent clear-cut logging in the main Captain target area has greatly facilitated access.

    The project is 30 kilometres south of the Mt. Milligan gold-copper deposit owned by Centerra Gold. The alteration and alkaline intrusive encountered in drilling at the Captain project are very similar to the Mt. Milligan Mine. The Mt. Milligan Mine in a large open pit mine and processing facility in production since 2014. For reference only, the Mt Milligan operation:

    • Has Proven and Probable reserves of 191.0 Mt grading 0.39 g/t Au and 0.23% Cu (1)
    • For the quarter ending Jun 30, 2020 the operation mined 4,140,000Mt ( 45,369 tpd) at a grade of 0.39 g/t Au and 0.26% Cu producing 35,656 oz Au and 19.1M lbs Cu at an ASIC cost on a by-product basis of US$679/oz AU (1)

    (Centerra website news release dated Jul 31, 2020) 

    Any discoveries at Captain will benefit greatly from the proximity to established infrastructure at Mt. Milligan.

    Project History

    The Captain area has been the focus of modern exploration since the discovery of Mt. Milligan in the mid-1980’s. Prospecting in the Captain area in the late 80’s identified copper mineralization which led to numerous work programs by Placer Dome, Noranda and several juniors through to 1996. The Captain claims were staked in stages starting in 2003 by Barney Bowen and Gordon Richards. Orestone bought the claims from Bowen and Richards in 2007.

    Regional Geology

    The Captain Project lies within the geological terrane of the Quesnel Trough which stretches from the US border to the Yukon border. The Quesnel Trough is a 1,500 kilometer-long, Mesozoic-aged island arc sequence. This belt has been described as one of the most prospective geological areas for gold and copper within Canada.

    The Quesnel Trough is important from an economic perspective due to its rich endowment of gold/copper (molybdenum) porphyry deposits. These large-tonnage deposits are sought after by major mining companies because of their open pit, low cost operating features and long mine life. The style of mineralization at the Captain Project conforms to the porphyry deposits found in the Quesnel Trough.

    Property Geology

    Topographic relief in the Captain Project is minimal and outcrop is rare with overburden thickness typically ranging from 20 to 150 meters. Geologically, the property falls within the Quesnel Terrane, which is characterized by a Late Triassic to Early Jurassic magmatic arc complex that formed along or near the western North American continental margin in contact to the east with Proterozoic and Paleozoic carbonates.

    Because of the lack of outcrop at Captain Project, the geology is based on interpretation of drill core in conjunction with geophysical responses. The claims are underlain by basalts and andesites of the Takla Group and multiple intrusive bodies. Limited drilling suggests the large (4 km by 2 km) magnetic feature in the centre of the property is a fresh silicified magnetic diorite intrusive. The numerous smaller, flanking magnetic features represent monzonite dyke swarms and plugs and are the main exploration targets at Captain.

    Mineralization

    The gold-copper mineralization intersected in diamond drilling at Captain is classic alkalic porphyry mineralization and alteration. The mineralized zones are associated with highly altered volcanics and alkaline to monzonite porphyry dikes. Alteration consists of intense chlorite-actinolite potassium feldspar-carbonate-hematite and sericite with disseminated magnetite and very fine grained pyrite and chalcopyrite.

    The alteration varies from intense phyllic (gold-copper poor) to intense potassic (gold-copper enriched). The potassic alteration is manifested by potassic feldspar, biotite and importantly, magnetite. The presence of magnetite generates strong magnetic responses which guide exploration.

    Geophysics

    The Company has completed several phases of induced polarization (IP) totalling 43 km and 135 km of ground magnetic surveys during 2007-2008 and 2010-2013.

    Geochemistry

    During 2007 and 2010 Orestone collected Mobile Metal Ion (MMI) and Ah soil samples across the Captain Project. This work defined a strong gold and copper anomaly proximal to the zones of known mineralization. In addition, BC government regional geochemical stream sediment and glacial till samples indicate that strong copper-gold anomalies are present immediately down ice to the northeast from the Captain South drill area.

    Drilling

    Between 2008 and 2013 the Company completed two programs of percussion drilling and three programs of diamond drilling.

    The drilling Program in 2019, focussed on two principal targets: testing a large IP chargeability anomaly (Admiral Target) that was thought to be the potential source of the high grade xenolith encountered in the hole C13-03; and the copper-gold mineralization associated with the strong magnetic highs intersected in the 2012 drilling program associated with highly altered volcanics and magnetic alkaline to monzonite porphyries.

    Drilling in 2013 consisted of three diamond drill holes totaling 642 metres. Holes C13-01 and C13-02 were drilled 400 metres respectively northwest and southeast of significant potassic alteration and copper gold mineralization intersected in previous holes C12-05 and C11-01. Hole C13-03 was drilled in the center of the Admiral target, a large magnetic high measuring 1000 metres by 1500 metres located 800 metres north of holes C12-05 and C11-01.

    Hole C13-03 intersected an unaltered and un-mineralized post mineral magnetic alkali gabbro dyke from the bedrock contact at 78.9 metres to 280.0 metres. At a depth of 204.9 metres to 207.9 metres a xenolith fragment of highly potassic-sericite altered monzonite porphyry was intersected which assayed 0.226 % copper and 1.90 g/t gold over three metres. The post mineral dyke is interpreted to measure 200-300 metres in thickness and 1000 meters in strike length and the xenolith fragment or rafted block is thought to have been transported from immediately adjacent rocks.

    Hole 13-02 was drilled at an Azimuth of -70 to the northeast across a strong magnetic anomaly and intersected two sections of magnetic potassic-sericite altered volcanic and monzonite dykes separated by a section of post mineral andesite dykes. The first mineralized dyke was intersected from 32.4 metres to 66.4 metres for an interval of 34 metres with an average grade of 0.073% copper and 0.20 g/t gold while the second mineralized dyke was intersected from 121.3 metres to 170.1 metres for an interval of 48.8 metres with an average grade of 0.055% copper and 0.35 g/t gold, open to depth.

    Hole C13-01 intersected intensely quartz-sericite-pyrite altered volcanics on the south margin of the Admiral target averaging 183 ppm Cu and 52 ppb Au.

    The highlight of the 2013 drill program was the intersection of the highly altered and mineralized monzonite porphyry xenolith fragment within a post mineral dyke near the center of the Admiral magnetic target in hole C13-03. A large IP target surrounding the dyke is interpreted to be the source of the xenolith; future drilling south and north of the dyke was recommended.

    Diamond drilling in 2011-2012 resulted in the discovery of gold-copper mineralization and strong potassic-magnetite-biotite alteration in holes C11-01 and C12-05. This area is surrounded by a broad (1,000 metre + wide) envelope of non-magnetic quartz-sericite-pyrite (phyllic) alteration (holes C12-02, C12-03, and C12-04).

    Drill hole C11-01intersected 45 metres grading 0.3 g/t Au and 0.09% Cu. Hole C12-05 intersected two intervals of strong gold mineralization: the upper zone, grading 0.65 g/t gold and 0.06% copper (uncut) over 119 metres; and the lower zone grading 0.41 g/t gold and 0.07% copper (uncut) over 165 metres. This mineralization remains open at depth.

    A very interesting aspect of the two zones in C12-05 is the presence of very high grade gold intersections. One interval grades 6.5 g/t Au over 9 metres and the other carried 4.5 g/t Au over 6 metres.

    Drilling on Targets T4 and T9 will Commence in November of 2020.

    Gary Nordin P. Geo., Director of Orestone Mining Corp. and Ross Zawada, P. Geo., Manager of Exploration for Orestone Mining Corp., are qualified persons under the NI 43-101 guidelines and have written and reviewed the technical content on this webpage.

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