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Cornerstone Capital Resources Inc Cornerstone Capital Resources Inc Cornerstone Capital Resources Inc
 April 08, 2020
20-10 - Bramaderos Au Cu Project, Ecuador -- High-grade surface samples at Espiritu epithermal gold-silver target

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper joint venture in southern Ecuador in which it has a 12.5% interest carried by JV partner and project operator Sunstone Metals Inc. (ASX: STM) through to the start of commercial production (see "About Bramaderos", below).

Figures related to this news release 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:

http://www.cornerstoneresources.com/i/pdf/NR20-10Figures.pdf.

HIGHLIGHTS:

  • Individual surface rock chip samples return up to 11.6g/t gold and 2960g/t silver (see Table 1, below)
  • Espiritu outlined over an 800m strike with multiple interpreted lodes
  • Mapping of the distribution of clay alteration, quartz veining, barite and metal values (gold-silver-lead-zinc-copper) indicate multiple parallel lodes
  • Further sampling, trenching and mapping followed by drilling will take place as soon as Ecuador's COVID-19 restrictions allow

FURTHER INFORMATION:
The Espiritu target (Figure 1) was developed based on soil geochemical results and structural interpretations from field mapping and detailed ground magnetic data.

Results have been received from exploration undertaken prior to the temporary suspension of activities in Ecuador due to the Covid-19 pandemic. The exploration has included geological mapping, surface rock chip sampling and some trenching to test outcropping mineralization.

The results include high gold and silver assays from rock chip samples of quartz-barite veining associated with argillic alteration. Other samples are highly anomalous in epithermal related pathfinder elements such as lead, zinc, and copper (Figures 2 and 3). These related elements can be detected using handheld XRF analysis which provides a guide for further detailed sampling and laboratory analysis.

The Espiritu trench, ES-01, is partially complete and some samples are awaiting analysis at the laboratory. The handheld XRF analyses shown in Figure 2 for zinc are used as a guide only to identify areas of alteration with the potential to host gold and silver, to be confirmed once laboratory assays are completed.

Data so far suggests a north-north-east trend to the anomalous gold and pathfinder elements and this trend corresponds with linear breaks in the ground magnetic imagery. An 800m strike extent to mineralization has been defined by work to date (Figure 2) and this could double to 1,600m based on early stage reconnaissance that has identified scattered gold anomalous samples along the north-north-east trend (Figure 3). This will be followed up once field work resumes.

Cornerstone VP Exploration, Yvan Crepeau, said:

"These are new and very encouraging results. Espiritu sits within the previously defined 'epithermal corridor' that extends to the south-west where it incorporates the 2 million-ounce epithermal Dynasty Goldfield. In light of these high-grades and the extensive strike length, we will resume sampling and trenching as soon as possible with a view to drilling at Espiritu at the first opportunity."

Sample ID Easting Northing Elevation Sample Type Sample Method Rock Type Au (ppm) Ag (ppm) As (ppm) Cu (ppm) Pb (ppm) Zn (ppm)
111112 632340 9550548 1111 Float Grab Altered Rock 11.63 2962 287.1 134320 >10000 5428
51481 632271 9550531 1086 Float Grab Altered Zone 3.698 26.67 22.7 58.1 723.8 264
CUFS03112 632002 9550861 1107 Outcrop Chip Vein 1.833 27.3 741 15 248 23
51356 632232 9550396   Float Chip Altered Zone 1.801 181 73.3 3658.5 >10000 751
110301 632002 9550858 1105 Outcrop Grab Hydrothermal Breccia 1.615 38.62 1048.9 15 1594.6 22
111314 631842 9550341 951 Outcrop Chip Altered Rock 1.229 22.61 131.6 69.7 2638.1 81
111308 632239 9550433 1032 Float Chip Andesitic Tuff 0.835 634 224.1 9626.3 190890 2619
111338 632225 9550145 945 Float Chip Altered Zone 0.826 13.24 27.4 27.4 519.5 181
111336 632178 9550328 997 Float Chip Altered Zone 0.558 161 295.9 250.2 15300 106
111332 631904 9550440 1016 Sub-Outcrop Chip Altered Zone 0.48 6.18 334.8 217.6 1482.1 617
CUEA030157 632137 9550160 838 Trench 2m Channel Andesitic Breccia 0.442 4.3 43 47 171 655
111330 632047 9550558 1083 Outcrop Chip Altered Rock 0.416 3.6 2775.1 26.6 9.4 27
CUEA030163 632270 9550275 838 Trench 0.1m Channel Vein 0.368 25.9 132 275 1880 521
111303 632069 9550412 976 Outcrop Chip Hydrothermal Breccia 0.315 5.11 204.1 9.7 70.8 8
111309 632263 9550486 1065 Float Chip Altered Rock 0.267 51.44 23.7 91.2 1488.8 81
111064 632962 9551475 1009 Float Grab Altered Zone 0.236 3.18 852.3 61.4 179.9 148
111335 631992 9550373 984 Outcrop Chip Altered Zone 0.232 3 16.5 8.6 44.7 25
111339 632343 9550080 927 Outcrop Chip Andesitic Tuff 0.216 11.6 146.3 26.6 791.7 27
111213 632346 9550580 1134 Subcrop Chip Altered Zone 0.214 10.34 74.2 434.4 197 326
111341 632326 9550125 967 Sub-Outcrop Chip Hydrothermal Breccia 0.213 6.9 70.8 9.9 108.7 70
111333 632213 9550351 1011 Sub-Outcrop Chip Hydrothermal Breccia 0.209 5.23 142.4 10.1 80.5 20
111337 632169 9550311 984 Float Chip Altered Zone 0.208 30.55 190.1 69.1 3329.8 71

Table 1: Rock chip assay data from Espiritu target.

Update on Suspension of Field Activities in Ecuador
Exploration activities at the Bramaderos Project have been temporarily suspended in line with the COVID-19 directives of the Ecuadorian government. Cornerstone and joint venture partner and project operator Sunstone Metals are maintaining communication with all employees and stakeholders in Ecuador. Desktop activities, primarily in Australia, are ongoing as we interpret data to move target areas towards being drill-ready when the suspensions are lifted.

About Bramaderos
Measuring 4,948 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway that crosses the property.

The Bramaderos concession is owned by La Plata Minerales S.A. ("PLAMIN"), which in turn is owned 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone. Cornerstone's 12.5% interest is carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone's share of earnings or dividends from the Bramaderos project (see news release 20-01 dated January 7, 2020).

More information about the property can be found at www.cornerstoneresources.com.

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 Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.

Sampling and assaying
PLAMIN uses a fire assay gold technique for Au assays (FAS-111) and a four acid multi element technique (IMS-230) for a suite of 48 elements. FAS-111 involves Au by Fire Assay on a 30-gram aliquot, fusion and atomic absorption spectroscopy (AAS) at trace levels. IMS-20 is considered a near total 4 acid technique using a 20g aliquot followed by multi-element analysis by ICP-AES/MS at ultra-trace levels. This analysis technique is considered suitable for this style of mineralization.

Standards, blanks and duplicates are inserted ~1/28 samples. The values of the standards range from low to high grade and are considered appropriate to monitor performance of values near cut-off and near the mean grade of the deposit. The check sampling results are monitored and performance issues are communicated to the laboratory if necessary.

Sample security was managed through sealed individual samples and sealed bags of multiple samples for secure delivery to the laboratory by permanent staff of the joint venture. MS Analytical is an internationally accredited laboratory that has all its internal procedures heavily scrutinized in order to maintain their accreditation. MS Analytical is accredited to ISO/IEC 17025 2005 Accredited Methods.

PLAMIN's sampling techniques and data have been audited multiple times by independent mining consultants during various project assessments. These audits have concluded that the sampling techniques and data management are to industry standards. All historical data has been validated to the best degree possible and migrated into a database.

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).

Soil samples are dried at low temperature, screened to 80 mesh (MSA code PRP-757); a 15 grams portion is then assayed for a multi-elements suite (MSA code IMS-136, Aqua Regia digestion, ICP-AES/MS 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.

About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in northwest Ecuador. Cornerstone has a 22.2% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 8.5% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ("ENSA"), an Ecuadoran company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold's fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.

Further information is available on Cornerstone's website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:

Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333

Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp

Cautionary Notice:
This news release may contain 'Forward-Looking Statements' that involve risks and uncertainties, such as statements of Cornerstone's beliefs, plans, objectives, strategies, intentions and expectations. The words "potential," "anticipate," "forecast," "believe," "estimate," "intend", "trends", "indicate", "expect," "may," "should," "could", "project," "plan," or the negative or other variations of these words 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,
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.

 
 

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