Cornerstone Capital Resources Inc
Cornerstone Capital Resources Inc
Cornerstone Capital Resources Inc
Cornerstone Capital Resources Inc

Properties

Ecuador

Cornerstone Capital Resources Inc
Cornerstone Capital Resources Inc Cornerstone Capital Resources Inc
Address:
1730 St. Laurent Blvd., Suite 800
Ottawa, ON
Canada, K1G 3Y7


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Bramaderos


51% JV Partner
Sunstone Metals (ASX code: STM)


Highlights

Details
Measuring 4,949 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital. The project is easily accessible via the Pan American Highway which crosses the Property.

The Bramaderos concession is owned by La Plata Minerales S.A. ("PLAMIN"), an Ecuadorian company owned 51% by Sunstone and 49% by Cornerstone, Sunstone having incurred >US$3.4 million to earn its 51% initial interest (see news release 19-29 dated August 28, 2019). Sunstone has elected to exercise the option to become the project operator, and now has a 90 day period within which to make an election to move to 70% ownership by funding all expenditures on the Property up to and including the completion of a feasibility study (as defined in the CIM Standards for Mineral Resources & Mineral Reserves) within five years and making a payment to Cornerstone of the greater of US$250,000 or US$1/gold equivalent ounce in Measured and Indicated Resources in the feasibility study. Sunstone can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).

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