Cornerstone Capital Resources Inc

Published : January 30th, 2014

14-02 - Cascabel Project Update - Drilling Recommences at Hole 5 - Magnetic Susceptibility Readings

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Keywords :   Canada | Chile | Climatic | Copper | Ecuador | Gold | Recovery |
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Re:   News - Thursday, January 30, 2014
      14-02 - Cascabel Project Update - Drilling Recommences at Hole 5
      - Magnetic Susceptibility Readings Confirm Large Porphyry Target
=======================================================================

Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
announces the following project update for the Stage 1 drill program at
the Alpala prospect within the Cascabel Project at the Company's
copper-gold porphyry exploration project in northern Ecuador (refer
Figure 1). Drill hole CSD-13-005 was temporarily suspended on December
20, 2013 at 869.68m pending delivery of additional drilling equipment.

Highlights:

- Hole 5 drilling recommences from a depth of 870m.

- High grade copper and gold mineralization at 870 m in Hole 5, with
grades increasing with depth.

- Importantly the last 91.68m of Hole 5 returned 0.90% Cu & 0.79 g/t
Au.

- Objective for Hole 5 is to drill test beyond 1000 metres.

- Drill rods at site capable of drilling to depth of 1500 metres.

- 5-10% magnetite from 680 metres downhole associated with high-grade
copper and gold.

- Association of magnetite and copper-gold mineralization common in
porphyry systems.

- Association of magnetite and copper-gold bodes well for discovery of
other copper-gold porphyry deposits within the Alpala Magnetic Complex
given the presence of numerous magnetic bodies.

- Strong correlation between magnetite, magnetic response and copper
and gold mineralization in CSD-13-005 confirms significance of the 4km2
Alpala magnetic complex.

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/NR14-02Figures.pdf.

Restart of Drill Hole CSD-13-005

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
summarized in Table 1 below.  Figure 3 shows a cross-section of copper
and gold intersections in holes CSD-13-001 and CSD-13-005. Hole 5
assays were released on January 14, 2013.

Hole CSD-13-005 is expected to take around 20 days to complete to a
total depth of 1500 metres, however, ground conditions could affect the
drill rate.

Magnetic Susceptibility Data in Hole CSD-13-005

Recent acquisition and plotting of magnetic susceptibility measurements
from Hole 5 drill core reveal that copper and gold grades increase at
depth in tandem with increasing magnetic susceptibility. A strongly
magnetic zone in the lower third of Hole 5 coincides not only with
increasing copper and gold grade, but also with increasing magnetite
(5-10%). Magnetite, a highly magnetic mineral, often accompanies copper
and gold in the deeper parts of porphyry copper-gold deposits and
contributes to the magnetic anomalies measured on surface.

This zone of magnetic response (and high copper and gold grades) in
Hole 5 coincides well with the margin of a 1.2-km-wide magnetic body
(Figure 4). This association, and the geometry of the magnetic body,
gives the Company reason to believe that Hole 5 may have intersected
the steep southwest-plunging limb of a typically bell-shaped
mineralized porphyry "'shell"'. The earlier and shallower intersections
in Holes 1 and 2 lie within a -"'shoulder position"' to the larger
porphyry target.

The extension of Hole 5 beyond a 1000m depth will further test the high
grade and interpreted southwest limb of the porphyry system, where
mineralization is anticipated to continue to substantially greater
depths (Figure 4).

The interpretation in Figure 4 correlates the high-grade copper-gold
zone in the deeper part of Hole 5 with the magnetic body, and provides
an understanding of the potential geometry of mineralization at Alpala.
It will also better enable future drill targets to be identified that
will be tested in the next round of drill holes.    

Drill Hole CSD-13-004

On November 7, 2013, drill hole CSD-13-004 was terminated at 318.51m
depth due to poor ground conditions as a result of the hole
encountering fractured ground. This zone was not evident in the field
at the drill collar because of the absence of outcrop. Consequently,
the drill hole did not reach target depth and intersected low grade
copper and gold values. The copper grades in drill hole CSD-13-004
(158.31m @ 0.11% Cu) were gradually increasing with depth, and
low-grade mineralization was persisting to end of hole. 


Hole ID     Depth From   Depth To   Interval (m)   Cu (%)   Au (g/t)  Comment
CSD-13-004     160        318.31      158.31        0.11      0.05
Incls.         292        318.31       26.31        0.15      0.05

CSD-13-005      24        869.68      845.68        0.39      0.24    Open at depth
Incls.          24        420         396           0.32      0.17
Incls.         436        869         433           0.47      0.31    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 holes CSD-13-004
and 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

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) 2014 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 Thu Jan 30, 2014 at 5:15:00AM Pacific Time


=======================================================================
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Cornerstone Capital Resources Inc

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CODE : CGP.V
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$ 1.3 billions as of today (US$ 1.1 billions, € 944.2 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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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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