Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce results from the initial field program at its Bramaderos Gold-Copper Project in southern Ecuador where its subsidiary La Plata Minerales S.A. ("PLAMIN") has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: AVI) whereby Sunstone will have the right to earn a majority interest in the project subject to satisfaction of certain conditions (see news release 17-08 dated April 10, 2017). |
A location map of the Bramaderos concession, figures and photographs can be seen in PDF format by accessing the version of this release on the Company's website (www.cornerstoneresources.com) or by clicking on the link below:
- The first five trenches completed at the West Zone epithermal gold prospect within the Bramaderos Project have returned assays of:
- 22m at 4.8g/t Au (including 7m at 12.7g/t Au)
- 9m at 1.9g/t Au, and
- 12m at 1.6g/t Au
- Soil sampling suggests that the mineralized system is larger than the immediate area of trenching, with further trenching results due in October and November
- Drilling permits are expected to be received by the end of this calendar year, with drilling to commence on the Bramaderos, Main and Limon targets immediately thereafter
- Detailed mapping and soil sampling is ongoing on the other Bramaderos target areas
These results are from the first five trenches of the planned 20-trench program. The five trenches are located within an area of 100 x 100m, and occur within the larger 700m x 400m West Zone gold-in-soil anomaly. The trenches, which were no more than 1.2m deep, are sampling basement rock units in a continuous and systematic fashion. The locations of the trenches are shown in Figures 2 & 3 below.
The West Zone prospect has not seen any historical drill testing by previous explorers. Further assays from subsequent trenches are now pending and Cornerstone and Sunstone plan to start drilling at the West Zone in December provided they have secured the necessary approvals.
Trench Gold and Silver Assay Results
||Gold Grade (g/t Au)
||Silver Grade (g/t Au)
||Open - last sample 0.3 g/t Au
||Open - last sample 0.42 g/t Au
||Open - first sample 0.43 g/t Au, last sample 0.27 g/t Au
||Open - first sample 0.24 g/t Au
||Open - last sample 1.18 g/t Au
Discussion of Trench Results
The surface trench results are significant because they follow a partially outcropping epithermal system which then continues under cover (colluvium on the slopes of hills). The trench data, soil data, surface mapping, and a planned detailed heli-magnetic geophysical survey to be conducted in November and December will provide all required datasets for drill targeting.
Geological mapping is still at an early stage in the West Zone area and mineralization controls have not yet been clearly defined. Information collected during this and future programs will help in defining any mineralized trend. The trenching program is conducted by first digging to a depth of up to 1.2 metres, followed by marking up of geological boundaries. Samples are then taken between each geological boundary by either hammer where the ground is friable or a cutting saw in areas of greater competency as shown in Figure 4 below.
The drilling permit requires a community consultation process of the drilling program with local communities, authorities and landowner groups. This process is part of the Environmental Impact Assessment (EIA) and will take place once the technical part of the EIA has been approved by the Ministry of Environment (ME). The parameters of the community consultation process will then be defined jointly with ME. It is expected that the EIA document will be submitted to ME in the next 10 days.
A water permit application for industrial use (drilling) has been submitted to the water agency SENAGUA (Secretaria Nacional del Agua) and technically pre-qualified. Parameters of the corresponding socialization process and a field inspection date are currently being defined by the agency.
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 Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.
Sampling and assaying
Rock samples are collected by PLAMIN's personnel, placed in plastic bags, labeled and sealed, and stored in a secure place until delivery by PLAMIN employees to the LAC y Asociados ISO 9001-2008 certified sample preparation facility in Cuenca, Ecuador.
Rock samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (MSA code PRP-910). Prepared samples are then shipped to MS Analytical Services (MSA), an ISO 9001-2008 laboratory in Langley, BC, Canada, where samples are assayed for a multi-element suite (MSA code IMS-136, 15.0 g split, Aqua Regia digestion, ICP-AES/MS finish) and gold by Fire Assay (MSA code FAS-111, 30 g fusion, AAS finish). Over limit results for Cu (>1%) are systematically re-assayed (MSA code ICF-6Cu, 0.2 g, 4-acid digestion, ICP-AES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AAS finish (MSA code FAS 111). Over limit results for Au (>10 g/t) are systematically re-assayed (MSA code FAS-415, FA, 30g., gravimetric finish).
Quality assurance / Quality control (QA/QC)
The MSA Analytical 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 20-25 samples) as part of PLAMIN's QA/QC program. Rejects, a 100 g pulp for each rock sample, are stored for future use and controls.
Cornerstone Capital Resources Inc. is a well-funded mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, and a proven ability to identify, acquire and advance properties of merit.
Further information is available on Cornerstone's website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333
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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 after 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,
Hugh Brooke Macdonald
President and CEO
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.