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Re: News - Tuesday, September 01, 2015
15-20 - Hole 12 continues to intersect High Grade Target at
Cascabel (Alpala Central)
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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. SolGold Plc is funding 100% of the exploration and
is the project operator.
HIGHLIGHTS:
- CSD-15-012 ("Hole 12") continues to intersect strongly mineralized
diorite porphyry, confirming depth potential of south-easterly
extension of the mineralized system at Alpala Central.
- Rig 2 commences drilling of CSD-15-013 ("Hole 13") at Alpala North
West.
Figures, photographs and tables referred to in this release can be seen
on the Company's website (www.cornerstoneresources.com) or by clicking
the link below:
http://www.cornerstoneresources.com/i/pdf/NR15-20Figures.pdf.
FURTHER INFORMATION:
Hole 12 continues, and on September 1, 2015 the hole was at a depth of
1,065 metres. Hole 12 is oriented at an azimuth of 210 degrees and an
inclination of ‐87 degrees from a collar position 75m to the
south-east of the Hole 5 drill site. Assay results will be released in
their entirety on completion of the hole.
SolGold geologists believe that the "Eastern Limb" zone represents
broader, higher grade mineralization at depth, and that it may coalesce
with the "Main Limb" (western) zone. Drill testing of the prospective
lower portion of the Eastern Limb zone is planned in the near future to
assess the potential for a much wider target than previously recognized
at Alpala Central.
Hole 12 has intersected the "Main Limb" of mineralization from 608.0m,
and drilling has continued to intersect increasing copper sulphide
visual content to the current depth of 1,065m. Drill core from 608m
shows some potassic alteration in association with the early "D10"
diorite intrusion. SolGold geologists believe that the presence of
continuous visible disseminated chalcopyrite and variable bornite
mineralization, in conjunction with "B"-type quartz and "C"-type
sulphide veins, confirms the significant south-easterly and depth
extensions of the mineralized system at Alpala Central.
The interpreted trend of mineralization is defined by "B"-type quartz
abundance along the Hole 12 drilling path as illustrated by the
south-west to north-east cross-section in Figure 1.
Drill core examples of mineralization recently encountered in Hole 12
from 608m show early "B"-type Quartz-Magnetite-Chalcopyrite veins
overprinted by "C"-type sulphide veins. These styles of veins are
characteristic of porphyry copper-gold deposits around the globe
(Figure 2).
Rig 2 commenced drilling hole Hole 13 at the Alpala North West drill
site on August 29, 2015. This hole will test the inferred porphyry
centre at Alpala North-West.
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. 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 cut-off 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 ALS Minerals
Laboratories (ALS) sample preparation facility in Quito. Core samples
are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g
and pulverizing to 85% passing 75 microns (200 mesh) (ALS code CRU-31,
SPL21 and PUL-32). Prepared samples are then shipped to ALS in Lima,
Peru where samples are assayed for a multi-element suite (ALS code
ME-ICP61, 1g split, 4-acid digestion, ICP-AES finish). Over limit
results for Ag (> 100 g/t) and Cu, (> 1%) are systematically re-assayed
(ALS code Ag-AA62, 4-acid digestion, AAS finish). Gold is assayed using
a 30 g split, Fire Assay (FA) and AA finish (ALS code Au-AA23).
Quality assurance / Quality control (QA/QC)
The ALS 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.
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, 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. |