Under the Spotlight David Hottman Chairman & CEO Orestone Mining

Key Takeaways

• Francisca surface samples show up to ~1 g/t Au with silver enrichment
• Project appears suitable for open‑pit, heap‑leach mining, minimizing capital costs
• Orestone has funding for two 1,200‑m drill phases
• Management emphasizes low dilution and cost‑effective exploration

Pulse Analysis

The Francisca Project, acquired by Orestone Mining in early 2025, sits in Argentina’s mineral‑rich foothills and offers a rare surface‑exposed gold‑silver anomaly. Unlike deep‑lying porphyries that demand extensive underground development, Francisca’s geology suggests an open‑pit configuration that can be processed with heap‑leach technology. This approach dramatically reduces upfront capital expenditures, a key advantage in a market where gold prices hover around $4,000‑$5,000 per ounce and investors favor projects with quick cash‑flow potential.

Orestone’s recent surface program focused on cleaning historic trenches and resampling them to obtain its own high‑resolution data set. The assays returned grades near 1 g/t Au, accompanied by measurable silver, confirming that the system is "juiced‑up" and that mineralization persists across multiple pods. By leveraging existing trench work rather than commissioning new grid‑based excavation, the company saved significant exploration spend while still generating robust data to guide drilling. With sufficient cash on hand to fund two 1,200‑metre drill campaigns, Orestone is poised to test the continuity of the anomaly and define a potential orebody before committing to larger‑scale development.

If drilling validates a consistent, open‑pit‑compatible resource, Francisca could become a low‑cost, high‑margin producer that bolsters Orestone’s balance sheet and offers shareholders upside without the dilution typical of early‑stage miners. The project’s scalability remains uncertain—ranging from a modest 20,000‑ounce‑per‑year operation to a multi‑million‑ounce deposit—but the management’s disciplined, cost‑focused strategy signals a willingness to pursue the size that aligns with market economics. Successful de‑risking would not only enhance Orestone’s valuation but also add a rare heap‑leach candidate to the limited pool of Argentine gold projects, attracting both strategic partners and capital in the current gold price environment.