Cornerstone Capital Resources Inc.: Strong Porphyry Copper Gold
Assays over 845 Metres in Hole 5 at Alpala Prospect, Cascabel
Project, Including 91 Metres @ 0.90% Cu and 0.79 g/t Au
MOUNT PEARL, NEWFOUNDLAND--(Marketwired - Jan 14, 2014) -
Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company")
(TSX-VENTURE:CGP)(FRANKFURT:GWN)(BERLIN:GWN)(OTCBB:CTNXF) announces
that drill hole CSD-13-005 at the Alpala prospect within the
Cascabel Project at the Company's copper-gold porphyry exploration
project in northern Ecuador (refer Figure 1), has returned strong
porphyry copper gold results over 845 metres of the hole to date.
The results indicate discovery of a large high-grade copper gold
porphyry system.
Highlights:
- Large scale, high-grade porphyry system discovered.
- Drill hole CSD-13-005 was temporarily suspended on December 20,
2013 at 869.68m in strong copper and gold mineralization open at
depth pending delivery of additional drilling equipment.
- Final assay results from sample batches 1 and 2 of drill hole
CSD-13-005 have returned the following copper-gold intersections:
- 845.68m @ 0.39% Cu & 0.24 g/t Au (from 24m to end of
hole).
- Higher grade intervals including:
- 154m @ 0.43% Cu, 0.25 g/t Au (from 244m to 398m);
- 211.68m @ 0.69% Cu, 0.51 g/t Au (from 658m to end of hole)
- Last 91.68m returned 0.90% Cu, 0.79 g/t Au (from 778m to end of
hole)
- Copper and gold grades increasing with depth.
- Strong correlation between magnetite, magnetic response and
copper mineralisation in CSD-13-005 confirms significance of 4km2
Alpala magnetic complex.
- Drill hole CSD-13-005 expected to resume drilling during week
of January 20th with targeted depth of 1500 metres.
References to figures and table related to the version of this
release on the Company's website (www.cornerstoneresources.com) or
visible in PDF format by clicking the link below:
http://www.cornerstoneresources.com/i/pdf/NR14-01Figures.pdf.
Cornerstone's President & CEO, Brooke Macdonald, said:
"Assay results from hole CSD 13-005 not only confirm visual
examination of significant copper mineralization usually tightly
associated with gold reported in December, but also that the
proposed exploration and mineralization models work very well,
indicating the potential to host large size, gold enriched porphyry
copper deposits at Alpala and other target areas on the property.
Indications are that we are just entering the higher-grade core of
the porphyry system. Exploration results have been excellent from
day 1 when we started prospecting work at Cascabel. This is a very
good sign. We believe that there are very few countries around the
world where geologists can still find significant outcropping
porphyry copper-gold mineralization. Ecuador is one of them. This
reinforces our commitment to the country, and demonstrates
Cornerstone's ability to "deliver the goods" for our partners from
early grass-root programs. We have several other 100% owned
properties available for joint venture which can be viewed on our
website."
Drill Hole CSD-13-005 Preliminary Assay Results
The location of drill hole CSD-13-005 is illustrated in Figure
2. CSD-13-005 was sited to test beneath holes 1 and 2, which
intersected long runs of copper and gold mineralization associated
with porphyry copper gold quartz stock-work and sheeted veins.
Copper and gold intersections for drill hole CSD-13-005 to a depth
of 869.68 metres are listed in Table 1 below. Figure 3 shows a
cross-section of copper and gold intersections in holes CSD-13-001
and CSD-13-005.
Two main intersections have been encountered in drill hole
CSD-13-005 to date:
- A shallow intersection of 396 metres grading 0.32% Cu and 0.17
g/t Au (from 24 m depth).
- A deeper intersection of 433 metres grading 0.47% Cu and
0.31g/t Au (from 436 m depth).
A bulked intersection in drill hole CSD-13-005 comprises an
845.68m interval grading 0.39% Cu and 0.24 g/t Au (from 24m depth).
Other higher-grade intervals are listed in Table 1.
The extensive mineralization within the hole (845.68m grading
0.39% copper and 0.24 g/t gold) is particularly encouraging
especially given the strong correlation with magnetite from 680
metres downhole.
Hole ID |
Depth From |
Depth To |
Interval (m) |
Cu (%) |
Au (g/t) |
Comment |
CSD-13-005 |
24 |
869.68 |
845.68 |
0.39 |
0.24 |
Open at depth |
Incls. |
244 |
398 |
154 |
0.43 |
0.25 |
|
Incls. |
658 |
869.68 |
211.68 |
0.69 |
0.51 |
Open at depth |
Incls. |
778 |
869.68 |
91.68 |
0.9 |
0.79 |
Open at depth |
Table 1: Copper
and gold intersections encountered in hole CSD-13-005.
About Cascabel
SolGold Plc currently holds a 50% interest, and can earn up to
an 85% interest, in Exploraciones Novomining S.A. ("ENSA"), the
Ecuadorian subsidiary of Cornerstone that holds 100% the Cascabel
concession.
The Cascabel project is located in north-western Ecuador in an
under-explored northern section of the richly endowed Andean Copper
Belt, 60 km northeast of the undeveloped NI 43-101 compliant
inferred resource of 982 million tons at 0.89% Cu Junin copper
project.
Qualified Person:
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 Cascabel project and has reviewed and approved the
information contained in this news release.
Logging, sampling and assaying
Holes referred to in this release were or are being drilled
using HTW and NTW core sizes (respectively 7.1 and 5.6 cm
diameter). Geotechnical measurements such as core recovery,
fracturing, rock quality designations (RQD's), specific density and
photographic logging are performed systematically prior to
assaying. The core is logged, magnetic susceptibility measured and
key alteration minerals identified using an on-site portable
spectrometer. Core is then sawed in half at Cornerstone's core
logging facility and half of the core is delivered by Cornerstone
employees for preparation at Acme Analytical Laboratories (ACME)
affiliate laboratory in Cuenca. Core samples are prepared crushing
1 kg to 80% passing 2 mm (10 mesh), splitting 250 g and pulverizing
to 85% passing 0.075 mm (200 mesh) (ACME code R200-250). Prepared
samples are then shipped to ACME in Vancouver, Canada where samples
are assayed for a multi-element suite (ACME code 1E, 0.25g split,
4-acid digestion, ICP-ES finish). Over limit results for Ag (>
100 g/t), Cu, Pb and Zn (each one > 1%) are systematically
re-assayed (ACME code 7 TD1 or 7 TD2, 4-acid digestion, ICP-ES
finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA
or ICP-ES finish (ACME code G601).
Quality assurance / Quality control (QA/QC)
The ACME affiliate preparation facility in Cuenca was audited by
Cornerstone prior to the start of the drilling program and ACME is
an ISO 9001:2008 qualified assayer that performs and makes
available internal assaying controls. Duplicates, certified blanks
and standards are systematically used (1 control sample every 15
samples) as part of Cornerstone's QA/QC program. Rejects, a 100 g
pulp for each core sample and the remaining half-core are stored
for future use and controls.
About Cornerstone:
Cornerstone Capital Resources Inc. is a mineral exploration
company based in Mount Pearl, Newfoundland and Labrador, Canada,
with a diversified portfolio of projects in Ecuador and Chile, and
a strong technical team that has proven its ability to identify,
acquire and advance properties of merit. The company's business
model is based on generating exploration projects whose subsequent
development is funded primarily through joint venture partnerships.
Commitments from JV partners constitute significant validation of
the strength of Cornerstone's projects.
Further information is available on Cornerstone's website:
www.cornerstoneresources.com and on Twitter. For investor,
corporate or media inquiries, please contact: |
Investor Relations: |
Email: ir@cornerstoneresources.ca |
North America toll-free: 1 (877) 277-8377 |
Cautionary Notice:
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 subsequent to 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,
Brooke Macdonald, President and CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cornerstone Capital Resources Inc.Toll Free at
1-877-277-8377communications@crigold.comwww.cornerstoneresources.com
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