Vedanta to exclude base metals business from sweeping demerger
The group said it will consider the base metals business demerger at a later stage.
Orestone Mining (TSXV: ORS) just kicked off an exploration program on the Resguardo property in northern Chile.
In a press release, the miner said the program will further define the potential for porphyry and manto-style copper-gold mineralization at a shallow depth.
Historically, near-surface oxide copper grading 1% to 7% and approximately 0.50 g/t gold was mined intermittently at Resguardo from pits and tunnels
“Work will consist of detailed mapping, sampling of outcrops and systematic geochemical sampling,” the brief states. “Additionally, the company is planning to begin a program of trenching, road access and drill pad construction over the target area, in preparation for drill testing in early 2020.”
Orestone’s CEO, David Hottman, said that the decision to go ahead with the exploration campaign follows encouraging IP survey results.
“This exploration program moves the company one step closer to drilling this very large, exciting target,” Hottman said in the media release.
The 2,905-hectare Resguardo project is located 75
Orestone reports that copper-gold mineralization occurs as dissemination and fracture coatings within a 50-100 metre wide zone along a strike length of 1500 metres, open to the southwest.
