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Re: News - Thursday, August 22, 2013
13-15 - Cornerstone receives key environmental approval at
Cascabel project in Ecuador - drilling expected to commence in
September
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
today announced that it has received approval of the Environmental
Impact Assessment (EIA) for the Cascabel copper-gold property from the
Ecuadorian Ministry of Environment (ME), paving the way for drilling to
commence as soon as the formal environmental license is issued. The ME
usually issues a formal environmental license two weeks following EIA
approval, so the Company's best estimate currently is that drilling
will commence in early September. SolGold Plc holds a 30% interest and
can earn up to 85% of Exploraciones Novomining S.A. (ENSA), the local
subsidiary of Cornerstone which holds the Cascabel concession. Please
see http://www.cornerstoneresources.com/i/pdf/NR13-15Figures.pdf.
Brooke Macdonald, Cornerstone CEO, said: "We are anxious to drill the
Alpala prospect in the centre of this 5,000 hectare concession, to
follow up on the excellent and widespread copper and gold stockwork
mineralization outcropping at surface and shown in multiple channel
samples, including Trench TR46, which encountered 45.64m @ 0.59% copper
and 0.81 g/t gold at surface, and Trench TR56, which encountered 56.93m
@ 0.34% copper and 1.16 g/t gold at surface. Alpala is only one of
several large anomalies at Cascabel, which has the potential to host a
major porphyry deposit."
Water permits
On July 26, the Ecuadorian Water Agency SENAGUA approved five water
permits for the advanced stage exploration program at Cascabel. These
water permits are strategically located within the concession and will
allow drilling at the Alpala, Q. Tandayama-America, Aguinaga and Q.
Moran targets. Water concessions are valid for ten years and the volume
of water authorized for each of them is sufficient to operate 2 to 3
rigs.
Mobilization of Drill Rig To Hole 1
Recently the Company mobilized the drill rig some 5 kilometres to the
Alpala field camp in preparation for the commencement of drilling. The
Company will mobilize the drill rig and associated equipment a further
600 metres from the Alpala field camp to the Drill Hole 1 pad
immediately upon receipt of the environmental license by the ME.
Location of Drill Holes 1 and 2
Figure 1 shows the location of planned drill holes CSD-13-001 and
CSD-13-002 at Alpala. These first two drill holes will be drilled at a
60-degree dip towards the southwest and west respectively to intersect
a northwest-trending set of sheeted and stockwork quartz veins within a
dacite porphyry intrusion. The first hole will drill under Trench TR46
(Figure 1). The second hole will drill under Trench TR56 (Figure 1).
The holes are currently planned to drill to 300m and 250m depth
respectively, however if the holes end in mineralization and/or
significant alteration, the Company will continue to deepen both holes
beyond their initial target depth.
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.
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 Canada, 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 or for investor, corporate or media
inquiries, please contact:
Investor Relations:
Email: ir@cornerstoneresources.ca
North America toll-free: 1 (877) 277-8377
The link to a recent Corporate presentation is:
http://www.cornerstoneresources.com/i/pdf/Presentations_0912_CRICorporate.pdf
Investors can also access Cornerstone on Twitter
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.
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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 Thu Aug 22, 2013 at 5:30:00 AM Pacific Time
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Cornerstone Capital Resources Inc
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EN DÉVELOPPEMENT |
CODE : CGP.V |
ISIN : CA21922J2083 |
CUSIP : 21922J208 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cornerstone est une société d’exploration minière basée au Canada. Cornerstone est en développement de projets d'uranium au Canada, et détient divers projets d'exploration au Canada, au Chili et en Equateur. Son principal projet en développement est AILLIK au Canada et ses principaux projets en exploration sont 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 et INDIAN ARM au Canada, MACARA, BELLA MARIA, MONTERREY et SIERRAMIN en Equateur et LA FORTUNA CHILE au Chili. Cornerstone est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,2 milliards CA$ (934,1 millions US$, 880,3 millions €). La valeur de son action a atteint son plus bas niveau récent le 04 mars 2016 à 0,02 CA$, et son plus haut niveau récent le 18 septembre 2020 à 6,53 CA$. Cornerstone possède 299 560 000 actions en circulation. |