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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
Macara
Related News
10-05 - Cornerstone and Newmont Announce Phase II of the Exploration Alliance
Primary Target
Gold
Location
The Macara Bellavista concession is approximately 14.5 km2 located near the Ecuador-Peru border. The Strategic Alliance area of influence encompasses approximately 2500 km2 within the southern province of Loja.
Property Information
Cornerstone completed $1,000,000 of reconnaissance exploration within the area of influence in 2009. Regional prospecting, BLEG sampling, panning and rock sampling were done in several target areas. Results were sufficiently encouraging that Newmont has elected to fund Phase II of the alliance in which they can earn a 51% interest in any concessions within the area of interest by spending $2,700,000 by the end of 2014. Cornerstone will remain project manager for the alliance and has initiated a $300,000 follow-up program in 2010.
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