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Re: News - Tuesday, June 30, 2015
15-14 - Hole 11 Final Assay Results Confirm Strike Extension at
Alpala Central, Cascabel Project
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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 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.
Final assay results for CSD-15-011 ("Hole 11") at the Cascabel Project,
Northern Ecuador have now been received. The results showed a bulk
interval of 636m @ 0.58 % Cu, and 0.40 g/t Au (0.82% CuEQ*) from 996m
depth, including four higher grade intervals as shown below in Table 1.
CASCABEL PROJECT - Drill Hole Intersections Comments Estimated True Width
Hole ID From To Interval (m) Cu (%) Au (g/t) CuEq (%) (Interpreted)
CSD-15-011 320 996 676 0.13 0.05 0.16 Redefined interval Not yet defined
996 1632 636 0.58 0.40 0.82 Not yet defined
incls 996 1054 58 1.45 1.44 2.32 upper hi grade zone Not yet defined
incls 1110 1322 212 0.60 0.31 0.79 lower zone Not yet defined
incls 1412 1518 106 0.73 0.50 1.03 lower zone Not yet defined
incls 1564 1636 106 0.47 0.27 0.63 lower zone Not yet defined
Table 1: Hole 11 (CSD-15-011) Final Assay Results.
* Note 1: 3D interpretation of the mineralized zone in this part of the
prospect area is not yet completed. Intercepts as reported relate to
core length.
* Note 2: Cu-equivalent (CuEq) values are calculated using copper price
US$ 6614/tonne and gold price of US$ 40/gram (US$ 1,244/ounce). Cu
equivalent ("Cu Eq") grade is calculated by following equation: Cu Eq.
= Cu% + (Au g/t x 0.6). Cu-Equivalent values do not take into account
the recoverability of gold.
The results from Hole 11 are consistent with SolGold geologist's
observations and interpretations of alteration assemblages in the drill
core, which suggests that the hole passed along the northwest margin of
the known high-grade Central Alpala porphyry, drilling through the
ambient porphyry system extending NW-SE along the Alpala Structural
Zone between high grade centres.
Early diorite host rocks intersected at depth in Hole 11 show
consistent stockwork quartz vein percentages of 0.5% - 2.0%, with fine
disseminated chalcopyrite and bornite contributing significantly to
copper and gold mineralization. This mineralization is believed to form
a "saddle" between the inferred Central Alpala and Northwest Alpala
porphyry centres.
The intersections achieved in Hole 11, and surface mapping data now
provide evidence for a lateral strike extent of copper and gold
mineralization at Alpala to 450m. The continuous nature of diagnostic
stockwork quartz-magnetite-chalcopyrite veins which increase in
intensity and volume with depth is well illustrated by comparing vein
abundance mapped at surface (Figure 2) with Level Plans at depth
(Figure 3). These features point to an increasing likelihood that an
extension of high-grade copper and gold may also be discovered beyond
Hole 5 to the Southeast, where Hole 12 (CSD-15-012) is sited.
References to figures, photographs and tables 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/NR15-14Figures.pdf.
About Cascabel
SolGold Plc owns 85% of the equity of Exploraciones Novomining S.A.
("ENSA"), an Ecuadorean registered 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 with Cornerstone Ecuador
S.A. providing some exploration and administrative services.
Cornerstone's 15% interest is financed through completion of a
feasibility study.
Cascabel 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 inferred resource of 982 million tons at
0.89% Cu Junin copper project (0.4% Cu cutoff grade; Micon
International Co. Ltd. Technical Report for Ascendant Exploration SA,
August 20, 2004, pages 28 & 29). Mineralization identified at the Junin
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 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 partnerships. Commitments from 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 ir@cornerstoneresources.ca;
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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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. |