Cornerstone Capital Resources Inc

Published : December 16th, 2013

13-31 - Cascabel Project Update -- Alpala Prospect - Strongly Mineralized Potassic Zone ...

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Re:   News - Monday, December 16, 2013
      13-31 - Cascabel Project Update -- Alpala Prospect - Strongly
      Mineralized Potassic Zone from 682m in Drill Hole CSD-13-005,
      Alpala Prospect, Cascabel
=======================================================================

Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
announces that hole CSD-13-005 continues to intersect strong copper
sulfide porphyry mineralization at depth, and that assay results from
hole CSD-13-003 have confirmed peripheral, lower grade halo-style
mineralization at the Alpala prospect within the Cascabel Project, the
Company's copper-gold porphyry exploration project in northern Ecuador
(refer Figure 1). 

Highlights:

- Hole CSD-13-005 discovers strongly mineralized zone from 682m,
reinforcing potential for a large porphyry copper-gold system at
Alpala.
- Hole CSD-13-005 to be extended beyond 1000m depth.
- Presence of magnetite with chalcopyrite and bornite from 682m in hole
CSD-13-005 supports copper-porphyry target coincidental within a 4 km2
magnetic batholith and magnetic apophyses.
- Selection of contractors for the IP electrical survey well advanced.
IP survey to commence in late January.
- Planning of stage 2 drill program well advanced with view to commence
drilling in March 2014.
- SolGold to proceed to 85% ownership of ENSA and the Cascabel project.
- Hole CSD-13-004 assays anticipated within 2 weeks.
- Assay results for drill hole CSD-13-003 yields the following
copper-gold intersections:

747.33m @ 0.11% Cu from 4 metres, including:
    - 102m @ 0.16% Cu, 0.03 g/t Au from 54m, incl. 22m @ 0.32% Cu, 0.04 g/t Au from 120m
    - 128m @ 0.23% Cu, 0.14 g/t Au from 584m, incl. 24m @ 0.34% Cu, 0.32 g/t Au from 608m, and 30m @ 0.32% Cu, 0.11 g/t Au from 662m.

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/NR13-31Figures.pdf.

Drill Hole CSD-13-005

CSD-13-005 was logged at a depth of 853.4 metres on Tuesday December
10th while drilling through well-mineralized porphyritic diorite
intrusions containing abundant copper sulfide minerals chalcopyrite and
bornite in multidirectional stockwork quartz veins within strong
potassic alteration. The hole encountered increasing intensities of
hydrothermal magnetite from 687.6m depth. The high magnetite content in
association with some anhydrite and potassium bearing mineral biotite
confirm the presence of potassic alteration that typifies the core
alteration zone of porphyry copper-gold systems. The increase in
magnetite in the lower part of hole CSD-13-005 is associated with
increases in chalcopyrite and bornite mineralization with depth and
elevates the significance of the extensive 4 km2 magnetic batholith as
a copper porphyry target.

In light of these highly encouraging visual results and with the hole
still encountering strongly mineralized zones of stockwork quartz veins
in potassic altered diorite intrusions, the Company plans to continue
deepening hole CSD-13-005 beyond the initial target depth of 850m. The
drill contractor is presently mobilizing additional drill rods to site
to enable the Company to drill beyond 1000m depth. The Company intends
to continue the hole to the depth limit of the drill rig while in
mineralization.  

A more detailed news release on the visual results from hole CSD-13-005
will be made once the hole has been completed. The Company cautions
that visual results for this hole are preliminary, and the Company is
awaiting assay results for the hole to determine the level of
mineralization intercepted.

Induced Polarization (IP) Electrical Survey at Alpala

Cornerstone has been actively planning a 3D IP survey over the entire
Alpala magnetic complex, with the planned survey covering an area of
approximately 12km2. 3D IP is a useful exploration tool to target areas
of sulphide mineralization which are commonly associated with porphyry
systems. The Company expects to finalize a contract during the week of
December 16th from a list of three highly experienced IP contractors.
Gridding of the survey area will commence in the first week of January
immediately following the Christmas break, with the IP survey likely to
commence in mid to late January.

The 3D IP survey will cover the entire 4.7km2 lithocap area at Alpala,
and the Company will use the data to provide additional vectors to
highlight where sulphides and magnetic bodies coincide. The IP survey
will assist with refining target positions for some of the holes in the
Stage 2 drill program. 

When the ground IP survey has been completed over the Alpala region,
the Company will consider moving the IP crew to other porphyry targets
being Quebrada Tandayama/Quebrada America and Aguinaga. Both of these
prospects are important porphyry copper-gold targets in the central
part of the Cascabel concession area which have both been defined by a
combination of magnetics, soil surveys and rock sampling, and could
host targets similar to Alpala.

Equity Position in Exploraciones Novomining S.A. ("ENSA")

Exploraciones Novomining S.A. ("ENSA") is the Ecuadorean registered
company which holds 100% of the Cascabel concession in northern
Ecuador. SolGold presently owns 50% of ENSA and the Company owns the
remaining 50%. SolGold has expressed its intention to elect to increase
its ownership in ENSA to 85%, with the execution of final documentation
underway. This will cost SolGold C$250,000 in cash and C$100,000 shares
in SolGold. As noted in the Company's news release dated February 19,
2013, SolGold had the right to increase its interest in ENSA to 85% by
(1) funding a 2,500 metre stage 1 drilling program capped at an
expenditure of C$2.5 million including expenditure prior to February
19, 2013; (2) subscribing C$250,000 of Cornerstone shares; and (3)
issuing to Cornerstone C$500,000 of SolGold shares. Due to lengthy
unanticipated delays in the granting of the environmental license (see
Cornerstone news release dated August 26, 2013), the C$2.5 million cap
was used up prior to commencement of drilling, necessitating a further
re-negotiation of the agreement between the Company and SolGold,
whereby in return for some assurances that fees to Cornerstone for
managing the exploration would cover its cost of operating in Ecuador
and SolGold's commitment to proceed immediately with the stage 1
drilling program the Company agreed to contribute 50% of the cost of
the 2,500 metre program up to a maximum of C$400,000 with SolGold
agreeing to cover the difference, and to pay for this contribution by
forfeiting the right to receive SolGold shares of the same value. To
date, SolGold has spent approximately US$3.5M on Cascabel, and
Cornerstone will not be required to fund any additional expenditure and
may elect to be carried through to completion of a bankable (NI 43-101
compliant) feasibility study.

Expanded Stage 2 Drill Program

Cornerstone continues to review the drill hole positions for the Stage
2 drill program. Given the well mineralized core from the active drill
hole CSD-13-005, Cornerstone will review with SolGold the optimal
program in the New Year to identify extensions to the mineralization
that is presently being encountered at depth in hole CSD-13-005 and
below drill hole CSD-13-001 (see Cornerstone news release 13-25 dated
October 16, 2013, which reported the following assay results for drill
hole CSD-13-001: upper zone: 104m at 0,37% Cu and 0.38 g/t Au,
including 34m at 0.46% Cu and 0.50 g/t Au; and lower zone: 100m at
0.65% Cu and 1.00 g/t Au, including 58m at 0.96% Cu and 1.67 g/t Au).

Drill Hole CSD-13-003 Assay Results

Assays for drill hole CSD-13-003 have been received and results are
outlined in Table 1. Figure 5 shows the copper and molybdenum results
down hole.

Hole ID      Depth From   Depth To   Interval   Cu (%)   Au (g/t)   Mo (ppm)
CSD-13-003        4        751.33     747.33m    0.11      0.05       27

                 54        156        102m       0.16      0.03        5.6
Includes        120        142         22m       0.32      0.04        9.1

                584        712        128m       0.23      0.14       31
Includes        608        632         24m       0.34      0.32       35
Includes        662        692         30m       0.32      0.11        5.4

Table 1:  Copper and gold intersections encountered in hole CSD-13-003.

The assay results from drill hole CSD-13-003 reveal extensive runs of
variably weak to locally moderate copper mineralization, as anticipated
and reported in the news release 13-26 dated November 4, 2013. In
contrast to the background copper content of fresh andesitic rocks
which are typically around 100 ppm copper, the extensive interval of
weak mineralization in hole CSD-13-003 (156-584m) averages close to
seven times background value. The three zones of moderate copper grade
(22m @ 0.32% Cu, 24m @ 0.34% Cu and 30m @ 0.32% Cu) are over 30 times
typical background values.

Cornerstone's VP Exploration, Yvan Crepeau, said: "Assay results from
hole CSD-13-003 and visual information from CSD-13-005 tend to confirm
previous interpretation that a classic and very significant porphyry
copper and gold system is present at Alpala. This target is the most
advanced exploration target on the 50 km� Cascabel property but only
one of several porphyry targets to be drill tested in the future. The
following months exploring this project should be exciting". 

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.

The Alpala Prospect exhibits surface mineralization and alteration
patterns indicative of porphyry copper-gold systems and has a similar
footprint to large porphyry systems around the world.

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

Further information is available on the Cornerstone Web site at
www.cornerstoneresources.com; via e-mail at communications@crigold.com;
or toll free at 1-877-277-8377.

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.

=======================================================================
Copyright (c) 2013 CORNERSTONE CAPITAL RESOURCES INC. (CGP)  All rights
reserved.  For more information visit our website at
http://www.cornerstoneresources.com/ or send
mailto:info@cornerstoneresources.com
Message sent on Mon Dec 16, 2013 at 5:15:00 AM Pacific Time


=======================================================================
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Gold and Silver Prices for these countries : Canada | Chile | Ecuador | All

Cornerstone Capital Resources Inc

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ISIN : CA21922J2083
CUSIP : 21922J208
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Cornerstone is a exploration company based in Canada.

Cornerstone develops uranium in Canada, and holds various exploration projects in Canada, in Chile and in Ecuador.

Its main asset in development is AILLIK in Canada and its main exploration properties are CHALEUR, ANAKTALIK, AUCOIN, LABRADOR TROUGH, VOISEY'S BAY PROPERTY, DEER LAKE PROJECT, DORCHESTER, GOSHEN, EL STRATO, LONG LAKE, NOTAKWANON LAKE, TRUE GRIT, CAPE RAY, COLCHESTER, CODROY PROJECT, LONG HARBOUR, OKAK, GARLAND, KAUK, KONRAD, NOEL PAUL'S BROOK, BOBBY'S POND, LITTLE DEER, CONEY ARM and INDIAN ARM in Canada, MACARA, BELLA MARIA, MONTERREY and SIERRAMIN in Ecuador and LA FORTUNA CHILE in Chile.

Cornerstone is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.1 billions as of today (US$ 912.5 millions, € 799.4 millions).

Its stock quote reached its lowest recent point on March 04, 2016 at CA$ 0.02, and its highest recent level on September 18, 2020 at CA$ 6.53.

Cornerstone has 299 560 000 shares outstanding.

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11/10/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
11/4/2014Cornerstone Initiates Exploration on its Miocene Project, No...
10/27/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
9/10/2014Cascabel Exploration Update: Hole 8 Intersects Copper Sulphi...
8/26/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
8/8/2014Cornerstone Capital Resources Inc.: Warrant Listing
8/6/2014Cornerstone Capital Resources Inc.: Cascabel Update: Hole 7 ...
7/16/2014Cornerstone Intersects 597.26m @ 0.46 % Copper and 0.18 g/t ...
7/3/2014Cornerstone Reduces Miocene (Chile) Property Work Commitment...
6/23/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
2/20/201414-04 - Cascabel Project Update - Copper Sulphide Mineraliza...
2/10/201414-03 - Cascabel Project Update - Copper Mineralization Exte...
1/30/201414-02 - Cascabel Project Update - Drilling Recommences at Ho...
1/22/2014Presentations - Executive Summary
1/14/201414-01 - Strong Porphyry Copper Gold Assays over 845 Metres i...
12/2/201313-30 - Cascabel Project Update -- Alpala Prospect - Drill H...
11/13/201313-28 - Cascabel Project Update -- Alpala Prospect - Drill H...
11/4/2013.: Drill Hole CSD-13-003 Intersects Long Runs of Visual Copp...
10/17/2013Company Update / Comments - The National Investor
10/13/2013Crystal becomes Cornerstone Investor in Rey
10/11/2013Company Updates / Comments
10/11/2013Released ASX Announcement: CNX Secures $3.4 million Cornerst...
10/10/2013Drills 100m of 0.50% Copper and 1 g/t Gold at Cascabel Proje...
7/25/2013CNX Announces New Cornerstone Investor and Rights Issue
6/11/201313-09 - Cornerstone appoints VP Exploration and grants incen...
5/1/201313-08 - Cascabel Project Update - 3D Geophysical Modeling, C...
4/1/201313-07 - Cornerstone Provides Corporate Update
3/25/201313-06 - Cornerstone reports 56.93 m at 1.16 g/t Gold and 0.3...
2/19/201313-04 - Cascabel Copper Porhyry Earn-In Agreement Re-negotia...
1/31/2013Provides Exploration Update
1/24/201313-02 - Cornerstone reports 46 m at 0.81 g/t Gold and 0.59% ...
1/11/2013Announces Results for Phase 3 Drilling at the Gama Prospect,...
1/11/2013Announces Results for Phase 3 Drilling at the Gama Prospect,...
11/14/201212-24 - Cornerstone Recovers Rights to Ca=F1a Brava Gold-Sil...
11/14/2012Recovers Rights to Caña Brava Gold-Silver Property, Ecuador
11/8/2012Announces Completion of Airborne Geophysical Survey and Prov...
10/15/2012Provides Exploration Update
10/15/2012Provides Exploration Update
10/3/2012Announces Prospecting Results on La Encrucijada Project, Ecu...
9/27/2012Announces Phase 3 Drilling Program at the Gama Prospect, Ecu...
9/20/2012(Cape Ray)12-19 - Cornerstone and Benton Resources sign letter of inte...
7/26/201212-16 - Cornerstone and Thundermin announce significant copp...
7/18/2012(Cape Ray)12-14 - Cornerstone Announces Initial NI 43-101 Compliant Mi...
6/29/20122012 AGM Presentation and Remarks
6/28/201212-13 - Cornerstone and Thundermin Retain P&E Mining Consult...
5/10/2012(Little Deer)12-10 - Cornerstone and Thundermin Extend Copper Mineralizat...
1/18/201212-02 - Wall Street Reporter Senior Analyst Interviews Corne...
1/13/201212-01 - Cornerstone Grants Incentive Stock Options
1/12/2012$5m Cornerstone Investment Agreement
12/30/201111-39 - Cornerstone Announces Management Changes
12/20/2011(Little Deer)11-38 - Cornerstone and Thundermin File NI 43-101 Technical ...
12/2/2011d Cornerstone Fact Sheet
9/26/2011Interview With the President, Brooke Macdonald
9/21/2011Corporate Update- September 21, 2011
9/13/201111-30 - Significant Porphyry Copper-Gold mineralization disc...
8/30/201111-28 - Cornerstone Reports 1.34% Copper and 58.0 g/t Silver...
5/25/2011Exploration Update
4/26/2011(Little Deer)11-15 - Cornerstone and Thundermin continue to intersect hig...
4/26/2011(Little Deer)and Thundermin Continue to Intersect High Grade Copper Over ...
4/15/2011Exploration Update
2/18/2011- No Material Change
1/25/2011CEO Letter to Shareholders
5/19/2010Options New Brunswick REE property
5/18/2010Corporate Update
5/17/201010-09 - Cornerstone reports significant progress on Ecuador ...
5/3/2010Intersect 4.6% Cu over 5.9 metres, including 14.5% copper ov...
4/16/2010Corporate Update
3/30/201010-05 - Cornerstone announces Phase II of Macar=E1 Strategic...
2/16/201010-03 - Cornerstone options Labrador rare metals and REE pro...
11/17/200909-26 - Cornerstone engages Investor Relations consultant
11/5/200909-24 - Ecuador Mining Regulations signed into law
10/16/2009Government of Ecuador confirms date of approval of Mining Re...
10/14/200909-21 - Cornerstone acquires new Lithium and Rare Metals pro...
9/29/200909-20 - Cornerstone acquires new Rare Metals and REE propert...
6/9/2009Corporate Update
6/4/200909-12 - Cornerstone to resume work on Macar=E1 project=2CEcu...
5/26/200909-11 - Cornerstone update on recommencement of work in Ecua...
3/3/200909-04 - Cornerstone updates mining law in Ecuador
2/27/2009Corporate Update
1/15/2009Cornerstone Update
1/13/2009 New Mining Law Approved in Ecuador
11/21/2008Cornerstone Update
9/30/2008approves new constitution, clears way for new mining law
9/25/2008Cornerstone Update
8/11/2008Monthly Update - Monday, August 11, 2008
7/14/2008personnel change
6/19/2008Update on Little Deer
6/11/2008and Altius form alliance to explore for copper in the Labrad...
5/22/2008adds claims in the Bay St. George evaporite basin
5/20/2008Report on the drilling on the Little Deer Copper project
5/7/2008acquires new uranium property
4/29/2008acquires property with potash potential
4/25/2008Participates in Industry- Canadian Government Meeting With E...
4/23/2008 Evaluates Impact of Mining Mandate in Ecuador
4/23/2008 Update
2/12/2008 and Newmont Sign Definitive Agreement on Ecuador Strategic ...
2/4/2008John C. Crosbie resigns from Cornerstone's Board. Mr. Crosb...
1/10/2008Monthly review
12/6/2007 Monthly Review
11/8/2007 Monthly Review
10/22/2007and Newmont to Explore Southern Ecuador
10/17/2007La Plata Update
10/16/2007provides update on the La Plata VMS project, Ecuador
10/11/2007September Update
9/10/2007August Update
8/29/2007partners with Phelps Dodge Corporation of Canada, Limited to...
8/3/2007July Update
7/26/2007announces 4.7% Zinc intercept in drilling by Mountain Lake R...
7/10/2007 and Thundermin Commence Drill Program on the Little Deer Co...
6/11/2007 May update - the Drills start turning
6/7/2007(Shyri)Provides update on geophysics at GAMA, Shyri project, southe...
5/15/2007Signs JV Agreement and Commences Drill Program on Cornerston...
5/7/2007plans to drill 26,000 metres on five projects in Canada and ...
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