=======================================================================
Re: News - Tuesday, November 05, 2013
13-27 - Cornerstone intersects 126m @ 0.38% copper, 0.43 g/t gold
at Cascabel
=======================================================================
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
announces that preliminary assay results have been received for the
upper portion of drill hole CSD-13-002 at the Alpala prospect within
the Cascabel Project, the Company's copper-gold porphyry exploration
project in northern Ecuador (refer Figure 1).
Highlights:
- Preliminary assay results for the top 252 m of drill hole CSD-13-002
yields the following copper-gold intersections:
- 18m @ 0.33% copper, 0.41 g/t gold (from 6m).
- 126m @ 0.38% copper, 0.43 g/t gold (from 126m); incl.
- 42m @ 0.50% copper, 0.68 g/t gold (from 184m).
- Mineralization is interpreted to be down-dip extension of the upper
mineralized zone in CSD-13-001 which intersected 104m @ 0.37% copper
and 0.38 g/t gold from 16m.
- Assays for interval 252 to 547.42m of drill hole CSD-13-002 expected
within 2 weeks.
- Proposal to expand current 5 hole 2500 m drill program to 11 holes
for 6600m.
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/NR13-27Figures.pdf.
Drill Hole CSD-13-002 Preliminary Assay Results
The preliminary assay results received and outlined in Table 1 below
confirm the visually encouraging mineralization encountered and
reported by Cornerstone on October 8, 2013 in drill hole CSD-13-002 at
Alpala, Cascabel, which terminated at 547.42m. Figure 3 shows a
cross-section of gold and copper intersections in hole CSD-13-001 and
the upper part of CSD-13-002.
The intersection from 126m to 252m (current depth of receipt of assays)
in hole CSD-13-002 is 126m grading 0.38% copper and 0.43 g/t gold. This
intersection is the down-dip and southward lateral extension of the
intersection previously reported from the upper part of hole CSD-13-001
(Figure 3).
The 126-metre-long intersection in hole CSD-13-002 extends to 252m
depth down hole. Assays are awaited for the interval 252m to 547.42m
depth (end of hole).
Hole ID Depth From Depth To Interval Cu (%) Au (g/t) Comment
CSD-13-002 6 24 18 0.33 0.41
CSD-13-002 126 252 126 0.38 0.43
Includes 184 226 42 0.5 0.68 **
Assays from interval 252m to 547.42m yet to be received from the
laboratory.
** Contains one 2-metre sampling interval with Cu assay ">1%" and
remains to be reassayed.
Table 1: Copper and gold intersections encountered in the upper part
of hole CSD-13-002.
The results indicate an increase in width of the mineralized zone (by
21%) and an increase in the gold grade (by 13%) with depth between the
shallower intersection in hole CSD-13-001 and the slightly deeper
extension of the same mineralized zone in hole CSD-13-002.
CSD-13-001 (upper intersection): 104m grading 0.37 % copper, 0.38 g/t
gold.
CSD-13-002: 126m grading 0.38 % copper, 0.43 g/t gold.
Chalcopyrite and bornite mineralization has been observed in deeper
parts of hole CSD-13-002 as reported on October 8th, indicating that
the drill hole was approaching the interpreted core of the porphyry
system. The hole was terminated, notwithstanding it ended in
mineralization, due to hole deviation related to fault systems and
drilling difficulties.
Assay results for the remainder of drill hole CSD-13-002 are expected
within the next 15 days.
Drill Hole CSD-13-003 terminated at 751.33m (see separate news release
dated November 4th, 2013).
CSD-13-004 commenced drilling on 29th October 2013, and is designed to
test for depth extensions of the high grade zone previously reported
from the lower part of hole CSD-13-001 (100m grading 0.65 % copper and
1.0 g/t gold). As of November 4th, the hole is at a depth of 311 m.
About Cascabel
SolGold Plc 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
Hole CSD 13-002 was 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 Tue Nov 5, 2013 at 5:15:00 AM Pacific Time
=======================================================================
.
|
Cornerstone Capital Resources Inc
|
|
EN DÉVELOPPEMENT |
CODE : CGP.V |
ISIN : CA21922J2083 |
CUSIP : 21922J208 |
| |
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, CAPE RAY, DORCHESTER, GOSHEN, ANAKTALIK, AUCOIN, LABRADOR TROUGH, VOISEY'S BAY PROPERTY, DEER LAKE PROJECT, NOEL PAUL'S BROOK, OKAK, COLCHESTER, EL STRATO, LONG HARBOUR, GARLAND, KAUK, KONRAD, CODROY PROJECT, TRUE GRIT, NOTAKWANON LAKE, LONG LAKE, LITTLE DEER, BOBBY'S POND, CONEY ARM et INDIAN ARM au Canada, MACARA, MONTERREY, BELLA MARIA 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$, 818,3 millions €). La valeur de son action a atteint son plus bas niveau récent le 04 mars 2016 à 0,02 CA$, et son plus haut niveau récent le 18 septembre 2020 à 6,53 CA$. Cornerstone possède 299 560 000 actions en circulation. |