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Cornerstone Capital Resources Inc

Publié le 07 juillet 2016

14 porphyry targets identified to date at Cascabel Project, Ecuador

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Mots clés associés :   Canada | Copper |
=======================================================================
Re:   News - Wednesday, July 06, 2016
      16-16 - 14 porphyry targets identified to date at Cascabel
      Project, Ecuador
=======================================================================

Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone"
or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces the
following project update for the Cascabel copper-gold porphyry joint
venture exploration project in northern Ecuador, in which the Company
has a 15% interest financed through to completion of a feasibility
study. SolGold Plc is funding 100% of the exploration at Cascabel and
is the operator of the project.

Figures, table and photographs referred to in this news release can be
seen in PDF format by accessing the version of this release on the
Company's website (www.cornerstoneresources.com) or by clicking on the
link below:

http://www.cornerstoneresources.com/i/pdf/NR16-16Figures.pdf.

HIGHLIGHTS:

- 14 porphyry targets generated within the Cascabel concession, 7 of
which have been elevated to close to drill ready status

- Proximity to the growing high-grade Alpala porphyry copper-gold
deposit and genetic similarity suggests prospectivity of these
satellite targets

- Magnetic modelling on the greater Moran-Alpala trend reveals
similarities to the Hugo Dummet deposit of Oyu Tolgoi, Mongolia

FURTHER INFORMATION:

Recent geological and geochemical field work in conjunction with
updated three dimensional MVI magnetic modelling has defined fourteen
copper-gold porphyry targets within the Cascabel concession.  Proximity
to and geologic similarity with the growing Alpala porphyry copper-gold
deposit suggests that these satellite targets within the Cascabel
project area in Northern Ecuador (Figure 1, Location) could yield
similar deposits to Alpala. Recently, modelling has identified
coincident magnetic and molybdenum anomalism which is considered to be
diagnostic of new targets at Moran, Carmen and Parambas. SolGold has
recently reported on its initial investigations at Moran, and is
currently commissioning mapping and sampling programs at Carmen and
Parambas. As with Moran, the Company aims to define significant areas
of surface mineralization at Carmen and Parambas.

The Cascabel Project is located on the gold rich northern section of
the prolific Andean Copper belt (Figure 2, Regional Setting). 

Seven high priority porphyry centres are now within the Cascabel
project, from a total of fourteen porphyry targets inferred to date,
including the newly discovered Moran, Carmen and Parambas target areas
(Figures 3 and 5, Cascabel Targets). 

Revised magnetic modelling, reconciled to downhole magnetic
susceptibility readings from drill core, has refined MVI magnetic
models so that the models represent a proxy for magnetite-chalcopyrite
style porphyry mineralization that exists at Cascabel. Soil
geochemistry, molybdenum anomalies and detailed 1:500 scale "Anaconda"
style surface geological and structural mapping has resulted in
increased confidence in targeting other rich parts of the wider
porphyry systems within the Cascabel concession.

The northwesterly trend of the Moran-Alpala MVI magnetic anomaly
reveals a geometry which is similar to the porphyry system at Hugo
Dummet, in Oyu Tolgoi, Mongolia (Figure 4, Long-section of the
Moran-Alpala Wider Target Zone). 

The quality of this corridor as a high priority target is supported by
contiguous datasets, including MVI magnetics, soil geochemistry,
induced polarization resistivity, and spectrometry to assess the
diagnostic clays mineralogy in soils which are typically consistent
with sulphide bearing disseminated and/or stockwork style
mineralization peripheral to, and above, a mineralized porphyry stock
(Figures 5, 6 and 7).

About Cascabel:

SolGold Plc owns 85% of the equity of Exploraciones Novomining S.A.
("ENSA"), an Ecuadorean company that holds 100% of the Cascabel
concession in northern Ecuador. Cornerstone owns the remaining 15% of
ENSA, which also holds the rights to the La Encrucijada gold-silver
project. SolGold is funding 100% of the exploration at Cascabel and is
the operator of the project. Cornerstone's 15% interest is financed
through completion of a feasibility study. 

Cascabel is located in northwestern Ecuador in an under-explored
northern section of the Andean Copper Belt, 60 km northeast of the
undeveloped inferred resource of 982 million tons at 0.89% Cu Llurimaga
(formerly Junin) copper project (0.4% Cu cut-off grade; Micon
International Co. Ltd. Technical Report for Ascendant Exploration SA,
August 20, 2004, pages 28 & 29). Mineralization identified at the
Llurimaga copper project is not necessarily indicative of the
mineralization on the Cascabel Property.

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 for Cornerstone 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,
NTW, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 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 the ENSA core logging facility, and half of the core is
delivered by ENSA employees for preparation at LAC y Asociados ISO
9001-2008 certified sample preparation facility in Cuenca. Core samples
are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g
and pulverizing to 85% passing 75 microns (200 mesh) (MSA code
PRP-910). Prepared samples are then shipped to MS Analytical Services
(MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada where samples
are assayed for a multi-element suite (MSA code IMS-230, 0.2g split,
4-acid digestion, ICP-AES/MS finish). Over limit results for Cu (>1%)
are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid
digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire
Assay (FA) and AAS finish (MSA code FAS 111).  Over limit results for
Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g.,
gravimetric finish).

Drill hole intercepts from the Cascabel Property are calculated using a
data aggregation method, defined by copper equivalent cut-off grades
and reported with up to 10m internal dilution, excluding bridging to a
single sample.  Copper equivalent grades are calculated using a gold
conversion factor of 0.89, determined using copper price of
US$2.20/pound and gold price of US$1350/ounce.

All reported drill core intervals from the Cascabel Property are core
lengths, unless otherwise indicated. At present the true thicknesses of
all of the holes has not been calculated by SolGold. Low-grade
intersections, where applicable, are expressed as average true widths
(utilizing the "B-vein > 0.5%" shell orientations). High-grade
intersections are better constrained for holes 1, 5, 8 and 9, and these
intersections are also expressed as average true widths (utilizing the
"B-veins > 20%" shell orientations).

Quality assurance / Quality control (QA/QC)

The MSA Analytical Laboratory is a qualified assayer that performs and
makes available internal assaying controls. Duplicates, certified
blanks and standards are systematically used (1 control sample every
15-20 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.

Plans:

SolGold has announced it is planning a resource statement at Alpala,
the most advanced target at Cascabel, during 2016, in addition to drill
testing the other key targets at Aguinaga, Trivino, Alpala NW, Hematite
Hill, Alpala SE, Cristal, Tandayama America, Moran, and Chinambicito
within the Cascabel concession. By the end of 2016 SolGold has reported
it is planning further metallurgical testing, and completion of early
stage mine and plant design and a scoping study (which may or may not
be the approximate equivalent of a preliminary economic assessment as
defined under National Instrument 43-101) for an economic development
at Cascabel. SolGold has reported it is investigating both high tonnage
/ low grade open cut and high grade / low tonnage underground
developments as a block caving operation.

About Cornerstone:

Cornerstone Capital Resources Inc. is a well funded mineral exploration
company with a diversified portfolio of projects in Ecuador and Chile,
and a proven 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
partnerships.

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; Tel. (613) 421-6923

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.

=======================================================================
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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 967,6 millions CA$ (773,6 millions US$, 677,7 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.

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29/06/20122012 AGM Presentation and Remarks
28/06/201212-13 - Cornerstone and Thundermin Retain P&E Mining Consult...
10/05/2012(Little Deer)12-10 - Cornerstone and Thundermin Extend Copper Mineralizat...
18/01/201212-02 - Wall Street Reporter Senior Analyst Interviews Corne...
13/01/201212-01 - Cornerstone Grants Incentive Stock Options
12/01/2012$5m Cornerstone Investment Agreement
30/12/201111-39 - Cornerstone Announces Management Changes
20/12/2011(Little Deer)11-38 - Cornerstone and Thundermin File NI 43-101 Technical ...
02/12/2011d Cornerstone Fact Sheet
26/09/2011Interview With the President, Brooke Macdonald
21/09/2011Corporate Update- September 21, 2011
13/09/201111-30 - Significant Porphyry Copper-Gold mineralization disc...
30/08/201111-28 - Cornerstone Reports 1.34% Copper and 58.0 g/t Silver...
25/05/2011Exploration Update
26/04/2011(Little Deer)11-15 - Cornerstone and Thundermin continue to intersect hig...
26/04/2011(Little Deer)and Thundermin Continue to Intersect High Grade Copper Over ...
15/04/2011Exploration Update
18/02/2011- No Material Change
25/01/2011CEO Letter to Shareholders
19/05/2010Options New Brunswick REE property
18/05/2010Corporate Update
17/05/201010-09 - Cornerstone reports significant progress on Ecuador ...
03/05/2010Intersect 4.6% Cu over 5.9 metres, including 14.5% copper ov...
16/04/2010Corporate Update
30/03/201010-05 - Cornerstone announces Phase II of Macar=E1 Strategic...
16/02/201010-03 - Cornerstone options Labrador rare metals and REE pro...
17/11/200909-26 - Cornerstone engages Investor Relations consultant
05/11/200909-24 - Ecuador Mining Regulations signed into law
16/10/2009Government of Ecuador confirms date of approval of Mining Re...
14/10/200909-21 - Cornerstone acquires new Lithium and Rare Metals pro...
29/09/200909-20 - Cornerstone acquires new Rare Metals and REE propert...
09/06/2009Corporate Update
04/06/200909-12 - Cornerstone to resume work on Macar=E1 project=2CEcu...
26/05/200909-11 - Cornerstone update on recommencement of work in Ecua...
03/03/200909-04 - Cornerstone updates mining law in Ecuador
27/02/2009Corporate Update
15/01/2009Cornerstone Update
13/01/2009 New Mining Law Approved in Ecuador
21/11/2008Cornerstone Update
30/09/2008approves new constitution, clears way for new mining law
25/09/2008Cornerstone Update
11/08/2008Monthly Update - Monday, August 11, 2008
14/07/2008personnel change
19/06/2008Update on Little Deer
11/06/2008and Altius form alliance to explore for copper in the Labrad...
22/05/2008adds claims in the Bay St. George evaporite basin
20/05/2008Report on the drilling on the Little Deer Copper project
07/05/2008acquires new uranium property
29/04/2008acquires property with potash potential
25/04/2008Participates in Industry- Canadian Government Meeting With E...
23/04/2008 Evaluates Impact of Mining Mandate in Ecuador
23/04/2008 Update
12/02/2008 and Newmont Sign Definitive Agreement on Ecuador Strategic ...
04/02/2008John C. Crosbie resigns from Cornerstone's Board. Mr. Crosb...
10/01/2008Monthly review
06/12/2007 Monthly Review
08/11/2007 Monthly Review
22/10/2007and Newmont to Explore Southern Ecuador
17/10/2007La Plata Update
16/10/2007provides update on the La Plata VMS project, Ecuador
11/10/2007September Update
10/09/2007August Update
29/08/2007partners with Phelps Dodge Corporation of Canada, Limited to...
03/08/2007July Update
26/07/2007announces 4.7% Zinc intercept in drilling by Mountain Lake R...
10/07/2007 and Thundermin Commence Drill Program on the Little Deer Co...
11/06/2007 May update - the Drills start turning
07/06/2007(Shyri)Provides update on geophysics at GAMA, Shyri project, southe...
15/05/2007Signs JV Agreement and Commences Drill Program on Cornerston...
07/05/2007plans to drill 26,000 metres on five projects in Canada and ...
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