CORNERSTONE CAPITAL RESOURCES INC : http://www.cornerstoneresources.com/ : QwikReport

News

#June 26, 2020
20-14 - Cornerstone Provides Update on Annual Meeting

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces certain updates in respect of its upcoming annual meeting of shareholders (the "Meeting"). Due to the health implications and constraints associated with the COVID-19 pandemic, the Company is relying on the exemption provided in the Alberta Securities Commission Blanket Order 51-518 -- Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials and similar exemptions provided by members of the Canadian Securities Administrators in British Columbia, Nova Scotia and Newfoundland to postpone the filing of its executive compensation disclosure for the year ended December 31, 2019 required under Section 9.3.1 (2.2) of National Instrument 51-102 -- Continuous Disclosure Obligations. The Company will incude such executive compensation disclosure in the management information circular to be prepared in connection with the Meeting. Updates regarding the date and format of the Meeting will follow.

About Cornerstone:
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.

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 (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813

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 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,
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.

 
#May 22, 2020
20-13 - Technical Report filed for Alpala Mineral Resource Estimate # 3

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce that it has filed on SEDAR an independent technical report for the updated Mineral Resource Estimate # 3 for the Alpala deposit announced on April 7, 2020. The technical report, entitled "Cascabel Property NI 43-101 Technical Report, Alpala Mineral Resource Estimation, May 2020, Effective date: 11 November 2019", Signature date 22 May 2020" is available under Cornerstone's profile on SEDAR at www.sedar.com and on Cornerstone's web site (www.cornerstoneresources.com).

About Cornerstone and the Cascabel Joint Venture:
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 north west Ecuador. Cornerstone has a 22% 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 8.2% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ("ENSA"), an Ecuadorean 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 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,
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.

 
#May 11, 2020
20-12 - Field work to resume at Bramaderos Au Cu Project, Ecuador

 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/NR20-12Figures.pdf.

HIGHLIGHTS:

  • Exploration at the Bramaderos gold-copper project in Ecuador to resume this week
  • The initial focus will be on the Espiritu epithermal gold target where recent sampling (March 20201 ) returned highly promising results of 4.2g/t and 11.9g/t gold in rock chip and float samples2, adjacent to the previously reported 11.6g/t gold (and 2,960g/t silver)(see Figures 1 & 2)
  • Activities will include trenching at Espiritu and further mapping and sampling in the broader epithermal gold corridor with assays expected in late June

FURTHER INFORMATION:
Field work at Bramaderos will resume this week under strict operating procedures to responsibly manage the risks associated with Covid-19.

Initial field work will involve only local employees under the direction of a locally based field technician and comprise ongoing sampling of the first trench at the Espiritu epithermal gold target. The first sampling of this trench commenced in March 2020 but was stopped when field work was suspended on March 17 in response to Ecuador's national lock down to manage the spread of Covid-19.

Sampling of the trench will resume, and other trenches will be prepared and sampled during May and June.

Assay results from six rock chip samples collected in early March have been received and highlight the potential of Espiritu to host more significant gold-silver mineralization. The results include gold assays of 0.25, 0.3, 1.7, 4.2 and 11.9g/t gold within the vicinity of the Espiritu trench 1, and over an adjacent gold and silver anomaly in soil sampling. The locations of the samples are shown in Figure 4.

First assay results from the new sampling are expected in late June or early July.

Phase 2 of the exploration program will involve the participation of local geologists to undertake mapping and sampling in the broader epithermal gold belt, and to work up at least 2 undrilled porphyry targets.

A phase 3 program will involve the full technical team in the lead up to drilling, which is, at this stage expected to commence in September. Drilling is expected to be undertaken at the Espiritu epithermal gold target, and the Brama, Porotillo, and Playas porphyry gold-copper targets (Figure 3).

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% 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 8.2% 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.

1 See Cornerstone news release 20-10 dated April 8, 2020.
2 The "float samples" are selected samples and are not necessarily representative of the mineralization hosted on the property.

 
#April 29, 2020
20-11 - Further Metallurgical Test Work Continues to Add Improvements and Modeled Revenue Increases at Alpala

  Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the following update on the exploration program at its Cascabel copper-gold porphyry joint venture project in northern Ecuador, in which the Company has a 15% interest1 financed through to completion of a feasibility study plus 8.22% of the shares of joint venture partner and project operator SolGold Plc, for a total direct and indirect interest in Cascabel of 22%.

Figures referred to in 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/NR20-11Figures.pdf.

Following the completion of further metallurgical test work at the Alpala deposit on the Cascabel concession, SolGold has received the Phase 2 Test Work Report by ALS Metallurgical Laboratories, Canada. Phase 1 and 2 represent together a representative evaluation of the metallurgy for the whole planned mine life of the Alpala deposit.

Improved recoveries in metallurgical tests across all valuable minerals indicate a potential increase in the value of the Alpala project. Results from these metallurgical test programs form important elements of the Pre-Feasibility Study ("PFS") currently underway. Phase 2 allowed SolGold to conduct flow-sheet optimization testing followed by flowsheet development.

Highlights of the Phase 2 metallurgical test-work:

  • Life of mine increase in gold recovery by 7% compared to results of the Preliminary Economic Assessment ("PEA") announced May 20, 20192
  • Ability to produce 26%-30% copper concentrate (plus gold and silver) for modeled life of mine
  • Low deleterious elements in concentrate for life of mine, such as arsenic, bismuth, cadmium, fluorine and others (see glossary)
  • All composite samples from Phase 2 (as in Phase 1) responded well to conventional froth flotation with high valuable metal recovery rates overall
  • Mineralogical testing part of this work confirmed that the copper sulphide material was substantially chalcopyrite

The Phase 2 test work program following the PEA builds on the Phase 1 test work previously reported in the PEA and includes:

  • Confirmatory tests on samples representative of the initial ten years of the mine life
  • Expansion of tests with a focus on years ten to twenty of the mine life
  • Tests to evaluate performance on lower grade material in the later mine life (after year 20)

The Phase 2 test work program was based upon further composite samples from 785 metres (1,437kg) of core from previous diamond drilling at the Alpala project. This generated a total of 33 variability composites (each comprising 24 metres of core) as well as four master composites. The master composites represent low, medium (x2) and high grade feed material. To date, a total of 1,265 metres (2,417kgs) of core has been analyzed and metallurgically assessed as part of both Phase 1 and Phase 2 of the metallurgical program, comprising 53 variability samples and seven master composites.

See Figure 1: Composite feed grades for Phase 1 (PH1) and Phase 2 (PII) test programs

See Figure 2: Graph showing metallurgical samples over modeled mine life

Background to Phase 2 Metallurgical Test Work
In Phase 2, efforts were focused on optimizing the process flowsheet using the test results of the four master composites, prepared from the 33 variability samples. The developed flowsheet was then applied to the 33 individual variability samples. Locked cycle tests (see Glossary, below) were initially run with water sourced from site, and no water recycle. Locked cycle tests have for several decades been the industry standard method used to simulate plant operation (with regard to recirculating loads, water quality and reagent usage) and optimal metallurgical recovery circuit design.

The tests were then repeated with recycled water to simulate process water use on site. This produced eight sets of locked cycle results, with feed grades varying from 0.21% Cu to 1.53% Cu. Recovered copper concentrate grades ranged from 25.7% to 30.1% copper content. Gold in the concentrate varied from 10.3 g/t to 16.7 g/t, and silver from 45 g/t to 93 g/t. Extended analysis showed very low deleterious elements in the concentrate, well below any applicable penalty limits.

Tailings from each of the rougher flotation variability tests were subjected to Davis Tube Recovery tests to evaluate the potential for magnetite recovery. The tests were conducted at the 'as received' grind size (typically 150 Ám) at a magnetic intensity of 4,000 Gauss. Magnetite recoveries were calculated based on the flotation feed mineralogy. The results indicate that at a feed grade of greater than 2.5% magnetite, a concentrate grading >40% magnetite can be produced. SolGold considers that following suitable regrind and cleaning stages it may be possible to produce a saleable magnetite concentrate. Magnetite recoveries (to concentrate) averaged 85%. SolGold is continuing to evaluate by product magnetite recovery.

See Figure 3: Composite recoveries and concentrate grades for Phase 1 and Phase 2 test programs

Flotation Recovery
A substantial focus of SolGold's Phase 2 test work centred on adjustments to the flotation circuit design and reagent regime to increase gold recovery.

Phase 2 locked cycle testing of the Alpala mineralized material sampled indicates a 7% increase in life of mine gold recovery compared to the PEA. As indicated in Figure 4, substantial improvements in recovery are expected to be achieved from year twenty onwards.

As indicated in Figure 5, predicted copper recoveries were consistent with the Phase 1 (PEA) predictions for years 1 to 10, approximately 1% lower over years 10-30. Overall this represents a 0.51% decrease in copper recovery compared to modeled recoveries referred to in the PEA.

Tailings from the cleaner cells were collected into ten composites and subjected to bottle roll cyanidation test work to evaluate the extraction of copper, gold and silver in an effort to further enhance recoveries of these metals.

An additional two composites were used to evaluate recoveries from biological and thiosulphate leaching. The grade of the cyanidation composites varied from 0.29 g/t Au to 2.68 g/t Au, with gold extraction from the cleaner tailing, based on a 72-hour residence time, varying from 46% to 88% from cleaner cell tailings.

Leach enhancement via an acid wash increased gold extraction to between 58% and 89% from the cleaner cell tailings. Twenty-one days biological oxidation followed by cyanidation increased the gold extraction to 93%. Cyanide consumption ranged between 0.8 kg/t and 6.2 kg/t.

See Figure 4: Flotation gold recovery showing improved benefit in the mid-late life period of the mine

See Figure 5: Flotation copper recovery consistent with predicted performance to PEA

See Figure 6: Locked Cycle Test Copper Concentrate Quality -- Phase 2 Report

Further Planned Test Work
As part of the PFS (and ultimate Definitive Feasibility Study or "DFS"), SolGold is advancing its metallurgical test work program. This includes plans for a bulk sampling program to generate 20 to 30 tonnes of material for pilot plant evaluation. This will include vendor thickening and filtration tests, transportable moisture limits (TML) for shipment, rheology tests for concentrate and tailing pipelines and further tailing characterisation work. In addition, selected sample will be used for crushing tests and pyrite concentrate will be produced for further leach evaluation. If warranted, tailings will be evaluated for more detailed magnetite recovery. The Company will provide a further update on this in due course.

Glossary
Chalcopyrite: CuFeS2, the copper iron sulphide mineral accounting for approximately half of all copper production.

Cleaner: The final section of the flotation recovery circuit, focusing on increasing concentrate grades.

Comminution: That section of the mineral processing circuit that reduces the size of the ore fragments to a suitable size for flotation.

Deleterious elements: Elements that reduce product saleability such as arsenic, bismuth, cadmium, chlorine, fluorine, mercury, selenium, tellurium and uranium.

Locked cycle: A repetitive batch used to simulate a continuous metal recovery circuit.

Rougher: The initial section of a flotation recovery circuit, focusing on maximizing metal recovery at variable concentrate grades.

Covid-19 Update
ENSA3's on site operations in Ecuador are currently halted in an effort to reduce the potential transmission of COVID-19. ENSA continues to actively monitor all its employees. Health and safety are top priorities for the Company and ENSA will continue supporting its employees and local communities where possible in their efforts to curtail the spread of the virus. Quality Assurance / Quality Control on Sample Collection, Security and Assaying

Primary sample collection involves secure transport from the Cascabel concession in Ecuador, to the ALS certified sample preparation facility in Quito, Ecuador. Samples are then air freighted from Quito to the ALS certified laboratory in Lima, Peru where the assaying of drill core, channel samples, rock chips and soil samples is undertaken. ENSA uses ALS certified laboratories in Canada and Australia for the analysis of metallurgical samples.

Samples are prepared and analysed using 100g 4-Acid digest ICP with MS finish for 48 elements on a 0.25g aliquot (ME-MS61). Laboratory performance is routinely monitored using umpire assays, check batches and inter-laboratory comparisons between ALS certified laboratory in Lima and the ACME certified laboratory in Cuenca, Ecuador.

In order to monitor the ongoing quality of its analytical database, ENSA's QA/QC protocol encompasses standard sampling methodologies, including the insertion of certified powder blanks, coarse chip blanks, standards, pulp duplicates and field duplicates. The blanks and standards are Certified Reference Materials supplied by Ore Research and Exploration, Australia.

ENSA's QA/QC protocol also monitors the ongoing quality of its analytical database. The protocol involves Independent data validation of the digital analytical database including search for sample overlaps, duplicate or absent samples as well as anomalous assay and survey results. These are routinely performed ahead of Mineral Resource Estimates and Feasibility Studies. No material QA/QC issues have been identified with respect to sample collection, security and assaying.

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 Cascabel project for Cornerstone (which is a minority partner and non-operator, SolGold Plc being the majority partner and operator) and has reviewed and approved the information contained in this news release.

About Cornerstone and the Cascabel Joint Venture:
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 north west Ecuador. Cornerstone has a 22% 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 8.22% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. ("ENSA"), an Ecuadorean 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 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,
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.

1 See "About Cornerstone and the Cascabel Joint Venture" below.
2 See Amended NI 43-101 Technical Report filed at Sedar.com on November 20, 2019.
3 See "About Cornerstone and the Cascabel Joint Venture" below.

 
#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

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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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