More Strong Trenching Results from Outcropping Porphyry Gold-Copper System at Bramaderos Main Target, Ecuador
OTTAWA, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (CGP.V) (GWN.F) (GWN.F) (CTNXF) announces more strong gold and copper results from additional trenching recently completed at the Bramaderos Main gold-copper porphyry target within the Bramaderos Project in Ecuador.
Figures and tables referred to in this release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:
- The latest results extend the strike length of mineralization at Bramaderos Main in trenches to at least 300m, and remains open
- Preparation of drill access tracks and drill pads is underway
- Trench BM02 has been extended and now delivers an extra 65m of mineralized rock:
- 140.6m at 0.57g/t gold and 0.15% copper, including
- 68.2m at 0.80g/t gold and 0.18% copper
- Trench BM07, located 200m to the northwest, delivered
- 112.6m at 0.58g/t gold, including
- 68.0m at 0.65g/t gold and 0.10% copper
- Historical drill hole CURI-13 which drilled under trench BM07 intersected
- 404.30m @ 0.41 g/t gold, 0.10% copper (from 3.66m depth), including
- 187m @ 0.50 g/t Au, 0.10% Cu (from 131m depth)
- Trenching is ongoing to define further strike extensions to mineralization
- All documents for the issuance of the drill permit are with the Ministry of Environment
Cornerstone is pleased to announce very strong gold and copper results from trenching at the Bramaderos Main gold-copper porphyry target within the Bramaderos Project in Ecuador (Figure 1).
Based on the strength of early trenching results, the trenching programme was expanded, and has now been successful in extending the strike extent of mineralization at the Bramaderos Main target to over 300m, and this remains open.
The trenching phase remains ongoing with additional results from trench BM02, new results from trench BM07, and sampling of an historical adit which intersected 40m @ 0.38 g/t Au, 0.06% Cu (Figure 2).
Trench BM02 was extended based on strong assays from the phase 1 program and has now delivered 140.6m at 0.57g/t gold and 0.15% copper, including 68.2m at 0.80g/t gold and 0.18% copper – adding 65m to the lateral extent of mineralization previously reported.
Trench BM07, located over the top of historical hole CURI-13, has delivered 112.6m at 0.58g/t gold, including 68.0m at 0.65g/t gold and 0.10% copper. This provides further support for the interpretation of the cross-section geometry that was first reported in ASX announcement dated December 19, 2017, from trench BM02 and drill hole CURI-03, located 200m to the south-east. Gold and copper intersections from trenches to date are listed in Table 1.
Trench BM07 was positioned over the top of the historical diamond drill hole CURI-13, and is parallel and 200m away from, trench BM02 sited over the top of hole CURI-03. A series of cross sections can now be constructed (Figure 3) to start to develop a better understanding of the three-dimensional geometry of mineralization at Bramaderos Main.
CURI-13 was drilled in 2001 by Ecuanor S.A. and intersected 404.30m @ 0.41 g/t gold, 0.10% copper (from 3.66m depth), including 187m @ 0.50 g/t Au, 0.10% Cu (from 131m depth). This drill hole further reinforces the potential for significant vertical extent to the mineralized zones intersected by trenching at surface, adds significant strike extent, and demonstrates excellent lateral continuity in grade. Details of historic drill holes are shown in Table 2.
All documentation required for the granting of the drill permit has now been provided to the Ministry of Environment. In anticipation of receipt of this drill permit in the near term, the Company has commenced preparation of drill access and establishment of drill pads.
Further details on the Company’s drill programme will be advised once the permit has been formally approved.
The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (STM.AX), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).
Yvan Crepeau, MBA, P.Geo., Cornerstone’s Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.
Sampling and assaying
Rock samples are collected by PLAMIN’s personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.
Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111). Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).
Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757), a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS finish).
Quality assurance / Quality control (QA/QC)
The MSA Analytical Laboratory is a qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 20-25 samples) as part of PLAMIN’s QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.
Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333
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This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s plans, objectives, strategies, intentions and expectations. The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan,” and similar expressions are intended to be among the statements that identify ‘Forward-Looking Statements.’ Although Cornerstone believes that its expectations reflected in these ‘Forward-Looking Statements’ are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings, viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behaviour of financial and metals markets, predicting natural geological phenomena and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our Forward-Looking Statements. Although Cornerstone believes the facts and information contained in this news release to be as correct and current as possible, Cornerstone does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views after the date of this news release. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Hugh Brooke Macdonald
President and CEO
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For further information contact:
Mario Drolet, President
MI3 Communications Financieres Inc.
Tel: (514) 904-1333
Tel: (514) 904-1333