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Overview
Canada
Address:
26 Kyle Avenue
Mount Pearl, NL
Canada A1N 4R5
Telephone:
(709) 745-8377
Fax:
(709) 747-1183
Toll Free:
(877) 277-8377
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English/Espaņol
Cornerstone started exploring in Ecuador during 2005, at which time 4 early stage gold and an advanced gold-rich VMS project was acquired. To date Cornerstone has extensive land holdings in 9 individual projects, 1 of which is currently joint ventured to Coastport Capital. Please select a property below for further information.
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English/Espaņol
Bella Maria
Primary Target
Gold
Location
The 10.4 km2 Bella Maria property is located approximately 50 km southeast of the city of Machala in southwestern Ecuador.
Property Information
The property is underlain by a series of granodiorites and quartz porphyries that intrude metamorphic rocks. Previous workers identified two zones of significant gold mineralization, approximately 2 km apart. One zone, in the south-central portion of the property, consists of a silica-sulphide breccia that has returned assays averaging 4.5 g/t Au over 40 m from continuous rock chip sampling, including 10.8 g/t Au over 16 m. The second zone occurs 2 km to the northwest and consists of stockwork veins from which grab samples assayed up to 10.8 g/t Au and chip samples returned assays up to 0.54 g/t Au over 6 m. The two zones are separated by an area of thick vegetation and poor exposure with many unexplained geochemical anomalies. Data on the property are being compiled in preparation for initiating further exploration.
This property is within the area of interest defined under the terms of the agreement between Cornerstone Ecuador S.A. and Sierra Minera (Sierramin) S.A. announced February 25, 2005. The property became available to Cornerstone on termination of an agreement between Sierramin and a third party. Cornerstone is actively seeking to joint venture this project.
English/Espaņol
La Plata
Related News
Cornerstone provides update on the La Plata VMS project, Ecuador
La Plata Drill Results Table
La Plata Prospects
Drill Plan
La Mina Drill Plan
San Pablo Drill Plan
LP-06-06, 07 drill section
LP-06-02 drill plan and section
LP-06-01 drill plan and section
Primary Target
VMS (Base Metals)
Location
The 23 km2 La Plata property is located 60 km west of Quito, Ecuador.
Property Information
The La Plata property hosts gold-rich, VMS mineralization including the La Mina deposit. The La Mina deposit is comprised of two lenses occurring on the eastern flank of a fold extending from near surface to 300 m in depth. The lenses, which are approximately 100 m apart, include drilled intersections from limited previous exploration drilling of up to 11.4 m grading 14.5 g/t Au, 103.6 g/t Ag, 9.35% Cu and 3.9% Zn.
Mineralization at La Plata occurs at or near a contact between intermediate and felsic volcanics, immediately overlain by a distinct, property scale hematitic chert (jasper) marker horizon. The volcanic stratigraphy is folded into a south plunging anticline and the mineralization outlined to date is in the hinge and along the east flank of the fold. The deposit has excellent exploration potential for expansion on the west limb of the anticline as well as down plunge and down-dip on the east limb. Several additional exploration targets exist over 5 km on strike to the north along the felsic/intermediate contact. Only 4 diamond drill holes and an unknown number of shallow packsack drill holes (1960's) are documented on the property outside of the La Mina area.
The Phase I exploration drill program was completed in June, 2006 and included diamond drilling to test for extensions of the La Mina deposit as well as tests of several targets along strike. The program also included borehole Pulse EM geophysics and 65 km of surface IP geophysics.
Prospects
La Mina
Cornerstone, together with former joint venture partner Coastport Capital Inc., completed the Phase I drilling program at La Mina in June, 2006
(Cornerstone Press Release dated June 22, 2006). The program was designed to test the possible down-dip and down-plunge continuation of the deposit. The drill program consisted of 2,512 m BTW (4.20 cm) and NTW (5.71cm) of core drilling in 8 drill holes. Holes LP-06-01 to LP-06-03 were drilled to test the south-southwest extension of the La Mina deposit. Hole LP-06-03 failed to intersect massive sulphides.
Drill hole LP-06-01 intersected 8.9 m of massive sulphide averaging 31.61 g/t Au, 289.39 g/t Ag, 18.16% Zn, 5.86% Cu and 1.61% Pb over 8.90 m core length, including 5.2 m averaging 51.11 g/t Au, 243.47 g/t Ag, 17.58% Zn, 4.88% Cu and 1.77% Pb.
Drill hole LP-06-02 intersected 6.70 m of massive sulphides at a vertical depth of 327 m. Based on core 40° core-axis-bedding angles, this intersection is estimated to be 4.4 m true width. The massive sulphides averaged 11.1 g/t Au, 77.9 g/t Ag, 23.44% Zn, 1.02% Cu and 3.19% Pb over 6.7 m core length.
Guatuza
The Guatuza target lies approximately 300 m along strike to the north of La Mina. This target represents the continuation of the ore horizon which hosts the La Mina deposit and is characterized by a 400 m by 250 m polymetallic soil geochemical anomaly underlain by extensively altered volcanics with stringer pyrite-chalcopyrite mineralization. Limited previous drilling between La Mina and Guatuza intersected 1.6 m grading 26.1 g/t Au, 14.0 g/t Ag, 9.9% Cu and 0.8% Zn.
San Pablo - San Pablo West
The San Pablo prospect is located approximately 1.2 km north of La Mina. During Phase I, LP-06-08 was drilled to test a moderate-strong IP chargeability anomaly associated with the favourable target horizon and strong surface rock and soil geochemistry. Moderate to strong silicification plus disseminated and minor stringer pyrite-chalcopyrite-sphalerite mineralization were encountered throughout the entire 387.9 m hole depth but the best assay was 1.45% Zn over 1.5 m. Further work conducted subsequent to the Phase I drilling, however, detected a strong IP chargeability anomaly with a coincident PEM conductor approximately 500 m north-northwest of LP-06-08. This San Pablo West anomaly is the strongest IP chargeability anomaly of the entire survey. The chargeability anomaly is interpreted to extend to over 200 m in depth and is over 500 m in strike length. Preliminary surface PEM results indicate a moderate response associated with the IP chargeability anomaly at depth. San Pablo West represents a high priority target in the Phase II drill program.
Click here for a detailed PowerPoint presentation on the property.
La Plata Phase I and II Drill Results
| Drillhole | Target | From (m) | To (m) | Width | Vertical Depth (m) | Au (g/t) | Ag (g/t) | Zn (%) | Cu (%) |
Pb (%) |
Phase I Drilling Results |
| LP-06-01 | La Mina SW | 162.70 | 162.95 | 0.25 | 125 | 14.05 | 44.50 | 14.25 | 0.65 |
1.30 |
| | | 453.50 | 462.4 | 8.90 | 370 | 31.73 | 289.39 | 18.16 | 5.86 |
1.61 |
| incl. | | 457.20 | 462.4 | 5.20 | | 51.11 | 243.47 | 17.58 | 4.88 |
1.77 |
| | | 462.40 | 472.40 | 10.00 | 375 | 0.55 | 8.52 | 3.08 | 0.71 |
0.16 |
| LP-06-02 | La Mina SW | 327.34 | 336.84 | 9.50 | 370 | 8.2 | 62.5 | 16.99 | 1.65 |
2.32 |
| incl | | 327.34 | 334.04 | 6.70 | 370 | 11.1 | 77.90 | 23.44 | 1.02 |
3.19 |
| LP-06-03 | La Mina SW |
No significant assays |
| LP-06-04 | Guatuza | 13.00 | 14.30 | 1.30 | 10 | 0.30 | 3.00 | 0.02 | 5.89 |
0.02 |
| | | 30.00 | 31.50 | 1.50 | 25 | 0.57 | 4.19 | 0.35 | 4.68 |
0.01 |
| LP-06-05 | La Mina NE | 13.71 | 15.24 | 1.53 | 13 | 0.54 | 7.20 | 1.18 | 3.49 |
0.05 |
| | | 119.40 | 123.10 | 3.70 | 120 | 1.43 | 22.91 | 0.74 | 0.16 |
0.33 |
| incl | | 121.75 | 123.10 | 1.35 | 120 | 1.38 | 56.95 | 1.99 | 0.42 |
0.86 |
| LP-06-06 | Guatuza | 89.90 | 96.75 | 6.84 | 60 | 0.99 | 9.54 | 0.05 | 6.97 |
0.04 |
| | | 104.00 | 110.95 | 6.55 | 73 | 0.98 | 12.06 | 3.19 | 3.59 |
0.15 |
| incl | | 108.00 | 110.95 | 2.60 | 75 | 1.70 | 23.43 | 3.75 | 6.87 |
0.06 |
| LP-06-07 | Guatuza | 105.65 | 114.30 | 8.65 | 100 | 0.46 | 6.63 | 0.72 | 1.27 |
0.09 |
| | | 125.49 | 126.49 | 1.00 | 117 | 1.08 | 14.20 | 1.65 | 0.95 |
0.42 |
| | | 134.20 | 134.35 | 0.15 | 125 | 2.40 | 21.20 | 6.88 | 0.62 |
0.58 |
| | | 150.75 | 152.40 | 1.65 | 140 | 0.95 | 14.53 | 2.48 | 0.12 |
0.46 |
| LP-06-08 | San Pablo | 74.67 | 76.20 | 1.53 | | 0.15 | 0.73 | 1.45 | 0.11 |
0.00 |
| Phase II Drilling Results |
| LP-06-09 |
San Pablo |
416.98 |
418.48 |
1.50 |
397 |
2.32 |
6.14 |
0.00 |
0.00 |
0.00 |
| LP-06-10 |
San Pablo |
No Significant Assays |
LP-06-11 |
San Pablo |
No Significant Assays |
| LP-06-12 |
La Mina SW |
457.23 |
482.93 |
25.70 |
396 |
1.87 |
21.70 |
1.84 |
0.14 |
0.71 |
| incl |
|
482.08 |
482.43 |
0.35 |
417 |
9.69 |
118.00 |
16.85 |
2.56 |
0.09 |
| |
|
491.50 |
493.00 |
1.50 |
426 |
0.26 |
9.16 |
2.78 |
0.21 |
0.06 |
| LP-07-13 |
La Mina SW |
No Significant Assays |
| LP-07-14 |
Guatuza |
70.82 |
71.62 |
0.80 |
58 |
0.43 |
2.32 |
0.29 |
2.56 |
0.01 |
| LP-07-15 |
Guatuza |
42.89 |
48.74 |
5.85 |
41 |
1.08 |
12.50 |
0.77 |
1.12 |
0.11 |
| incl |
|
45.89 |
47.24 |
1.35 |
44 |
1.58 |
21.30 |
1.16 |
1.81 |
0.19 |
LP-07-16 |
Guatuza |
81.67 |
91.40 |
9.73 |
62.6 |
0.15 |
9.45 |
1.23 |
0.02 |
0.18 |
| incl |
|
82.29 |
83.79 |
1.50 |
63 |
0.21 |
16.4 |
3.45 |
0.02 |
0.51 |
| incl |
|
85.29 |
86.79 |
1.50 |
65.3 |
0.196 |
9.88 |
1.49 |
0.06 |
0.11 |
| incl |
|
88.29 |
89.29 |
1.00 |
67.6 |
0.195 |
11.75 |
2.13 |
0.05 |
0.09 |
LP-07-17 |
La Mina SW |
Assays Pending |
English/Espaņol
Monterrey
Primary Target
Gold
Location
The Monterrey Property covers an area of approximately 20 km2 located in southern Ecuador.
Property Information
The property hosts gold mineralization associated with altered and brecciated intrusive rocks cutting meta-volcanics and meta-sediments. Recent channel sampling by Sierramin returned assays of 7.3 g/t Au over 1.1 m. Widespread stream, silt and heavy mineral anomalies occur across both project areas. Chip samples from quartz veins and associated stockwork veins in argillically altered volcanics assayed up to 10.5 g/t Au and 30.5 g/t Ag over 0.5 m, 4.5 g/t Au and 34 g/t Ag over 0.7 m and 4.1 g/t Au and 110 g/t Ag over 1.0 m. Also, several new prospects with anomalous gold and silver values were discovered.
Cornerstone is actively seeking to joint venture this project.
English/Espaņol
Macara
Related News
Cornerstone and Newmont Propose to Form a Strategic Exploration Alliance in Southern Ecuador
Primary Target
Gold
Location
The Macara property is approximately 32 km2 located near the Ecuador-Peru border.
Property Information
The property hosts gold bearing quartz-tourmaline veins and breccias associated with an intrusive body. Recent work by Sierramin has returned assay values from channel samples up to 23.8 g/t Au over 1.0 m and 7.3 g/t Au over 1.8 m. Chip samples collected during reconnaissance prospecting returned assays of 13.0 g/t Au over 2.0 m (incl. 44.2 g/t Au over 0.5 m) and 8.3 g/t Au over 0.65 m from sulphide bearing quartz veins within shear zones cutting granites.
English/Espaņol
Shyri Concessions
Related News
Cornerstone provides update on geophysics at GAMA, Shyri project, southern Ecuador
Mar, 2007: Shyri Property North Report Update: Jeffery W. Hedenquist
Mar, 2007: Shyri Property South Report Update: Jeffery W. Hedenquist
Canaribamba
Gama
Yanasacha
Vetas Grandes
Work on the Shyri concessions, collectively over 450 km2 in area, indicates potential for low and high sulphidation precious metal deposits in several target areas. The Shyri concessions straddle the Gañarin Belt and are immediately adjacent to IAMGold Corporation's Quimsacocha project. The Gañarin Belt is a 50 km long feature with several volcanic centers, related intrusives and numerous epithermal gold-silver prospects. Quimsacocha is the most advanced project in the Gañarin Belt. IAMGOLD first announced significant drill intersections at Quimsacocha in December 2004 and in September 2006 they reported an indicated resource of 3.4 million ounces of gold in the deposit (IAMGold Corporation press release, 27 September 2006).
English/Espaņol
GAMA Geophysics
Ground Magnetic Survey (**Updated June 2007**)
IP Survey - Resistivity (**Updated June 2007**)
IP Survey - Chargeability (**Updated June 2007**)
IP Survey - Line 72600N (**Updated June 2007**)
IP Survey - Line 72800N (**Updated June 2007**)
IP Survey - Line 73000N (**Updated June 2007**)
English/Espaņol
Canaribamba
Overview Map (**Updated March 2007**)
Detailed Geology (**Updated March 2007**)
Primary Target
Gold
Location
The Canaribamba property covers 103.5 km2 located in the southern portion of the Shyri concessions.
Property Information
The property is centered on the Shyri Diatreme, a 4.0 km by 1.0 km intrusive pipe complex which hosts four main gold-silver prospects. A 3.5 km by 1.5 km grid has been established over these prospects and the diatreme. Soil geochemical, magnetometer and IP geophysical surveys are underway.
An unpublished report by Richard Sillitoe in 1992 on behalf of Cogema identified the Shyri diatreme as having significant potential for discovery of epithermal gold-silver mineralization but his recommendations were not followed up at the time. Diatreme complexes are large volcanic vents that are commonly associated with significant epithermal gold-silver deposits, either adjacent to or as the principal host. World-class examples include Rosia Montana, Romania, Kelian, on the island of Borneo, Indonesia, and Acupan, in Luzon, Philippines.
English/Espaņol
Gama
Primary Target
Gold
Location
The GAMA project covers 94.5 km2 along the northwestern boundary of IAMGold's Quimsacocha project.
Property Information
The main focus of the GAMA project is a minimum 3.0 km by 5.0 km advanced argillic alteration system with widespread massive and vuggy silica and quartz-alunite alteration. Preliminary sampling of the vuggy silica at GAMA assayed up to 600 ppb Au. Detailed mapping, prospecting and sampling are underway.
Initial environmental studies and community relations programs required under Ecuadorian law have been completed and more intensive exploration is underway in follow-up to earlier reconnaissance work.
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