en.Wedoany.com Reported - Orestone Mining Corp. announced the expansion of its Francisca gold-silver project located in Salta Province, Argentina. The company acquired the Francisca II mining claim and purchased historical geophysical survey data for current and new land positions, paying $104,000 for these acquisitions. With this acquisition completed, the company's total mining claim area in Salta Province has reached 23 square kilometers.
Orestone stated that its mineralized trend zone currently covers a northwest-striking length of 1,500 meters, with oxidized gold-silver stockwork veins visible at surface in the North Cluster, South Zone, and Kelly Zone. The outcrop area is surrounded by a 500 to 1,000-meter-wide zone of intense hornfelsed sediments, which is further defined by a 1,700-meter-long, 500 to 700-meter-wide induced polarization chargeability anomaly (7.9 mV/V) associated with gold-silver mineralization. Several large, strong IP chargeability anomalies of up to 20 mV/V indicate the presence of a larger concealed gold porphyry. The oxidized gold quartz limonite stockwork vein zone is associated with quartz feldspar porphyry intrusive dikes and intense sericite clay alteration along a northwest-trending fault system.
The data acquired by the company includes results from time-domain induced polarization, resistivity, and total field magnetic surveys conducted in March 1999, covering the Francisca I, Francisca II, and Flamingo I claims currently held by Orestone. Orestone CEO David Hottman stated that the Francisca II claim is a significant addition to the company's Francisca land position, and the emerging mineralized trend zone is being de-risked through systematic exploration to define drill targets. He noted that results from initial mapping and sampling programs are very encouraging, indicating a robust gold system partially exposed at surface, while recently acquired geophysical data suggests a potentially larger system at depth. Results from recent exploration programs are being compiled in preparation for the first phase of the drilling program.
Orestone is a Canadian company with a portfolio of gold, silver, and copper assets in Canada and Argentina, and can earn up to an 85% interest in the Francisca property. The company stated that due to the presence of other mining projects, the area is accessible for exploration year-round and has good infrastructure.
In the gold market, despite its continued safe-haven appeal, gold remains susceptible to inflation concerns and geopolitical uncertainties. An article dated May 29, 2026, noted that investors worry high oil prices and energy costs stemming from the Middle East crisis could exacerbate inflationary pressures, forcing the Federal Reserve to maintain restrictive monetary policies. Meanwhile, market doubts over US tariffs on Chinese copper exports also contributed to price declines. On June 4, 2026, the market opened strongly following a new ceasefire agreement announced by Iran and Lebanon, with gold prices rising 1.63% to $4,505.90 per ounce. In January of this year, gold prices surged to a high of $5,000 per ounce. S&P Global wrote in April that gold prices are expected to remain volatile but structurally supported, with central bank demand and geopolitical risks helping to establish a price floor above recent correction lows. On May 7, 2026, the World Bank Group forecast a 17% overall increase in global metal prices for 2026, marking the first broad market upturn since 2022.
On March 16, 2026, John Newell of John Newell & Associates gave Orestone a "Speculative Buy" rating in Streetwise Reports, noting the stock had reached its previous target price of C$0.15 and setting a second target price of C$0.23 and a third target price of C$0.40. Newell discussed the company's Captain target and Francisca target, stating that because the two projects are located in opposite hemispheres, when seasonal conditions slow activity in one area, exploration programs in the other area can typically advance, creating more consistent exploration progress and the potential for year-round catalysts. He concluded that Orestone is a company worth watching in the junior exploration space.
In a company presentation, Hottman referred to the Francisca project as a near-term catalyst for investors to watch, citing a "multi-million ounce target," and stated that having a dedicated management team with a track record of success is the biggest reason to become a shareholder. He called the project "potentially game-changing" and a "tier-one asset." Hottman expects that 2026 drilling activities at the Francisca project will begin within the next month or two, with assay results expected to be received approximately 60 days later.
Orestone Mining Corp. has a market capitalization of C$7.5043 million, with 106.9956 million shares outstanding, and a 52-week price range of C$0.04 to C$0.175. Institutional ownership stands at 11%, management and insiders hold 13%, strategic investors hold 11%, and the remaining 65% of shares are held by retail investors.
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