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Ecuador

Bramaderos


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.

An extensive, 5 km by 1-2 km, gold and copper (+/- molybdenum) in-soil anomaly located in the central part of the property has been partially tested by trenching and diamond drilling with several anomalies still untested. Data integration and modeling indicate that historic drilling was carried out on the edges of the outcropping porphyry systems. Soil sampling is progressing over the entire concession and has identified new targets, with infill in selected areas is coinciding with continued geological mapping and rock chip sampling. Heli-magnetics and radio-metrics have been completed along with 2-D processing, and 3-D processing in progress.

All work required for the drilling EIA is completed and drilling will commence as soon as we receive a drill permit. The EIA process is well advanced and engagement with the Department of Environment is ongoing. The exploration program is fully supported by the local authorities and communities.

The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. ("PLAMIN"), which has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and 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).

Vetas Grandes

Highlights

Details
The Shyri NW concession (known as the "Vetas Grandes" property) is located in the Western Cordillera of the Andes in southern Ecuador, approximately 20 km southwest of Cuenca, the capital city of Azuay Province. The property covers a rugged area of some 23 km2 (2,300 hectares), and lies at elevations ranging from 1,500 to 3,500 m above sea level. Access to the property is good via a series of paved and/or gravel roads, and numerous mule and foot paths.

Originally acquired by Cornerstone in 2005, straddles the Gañarin Belt, a 50 km-long regional feature which contains volcanic centres and associated high-level intrusions, that is highly prospective for hosting epithermal gold - silver ± copper and porphyry copper - gold ± molybdenum deposits. Multiple, east-northeast trending low sulphidation epithermal quartz veins and vein breccias have been found measuring from 1.0 to 7.0 m in width within a zone at least 2 km long and 1.5 km wide. Mineralized veins containing gold and silver are exposed over a vertical relief of 300 m with the highest gold values localized at vein intersections and where veins outcrop around the 3,220 m elevation. Channel sampling across surface outcrops has returned 53.4 g/t gold and 641 g/t silver over 3.4 m.



Consulting Technical Reports
Mar, 2007: Shyri Property North Report Update: Jeffery W. Hedenquist
Mar, 2007: Shyri Property South Report Update: Jeffery W. Hedenquist


Maps




Photos

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Mineralized Quartz
Veins,
Vetas Grandes
Phase 1 Drilling,
Gama
Phase 1 Drilling,
Gama
Artisanal Mining,
Canaribamba
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Artisanal Mining,
Vetas Grandes
Canaribamba
Diatreme
Channel Sampling,
Vetas Grandes
Drill Site
Reclamation,
Gama
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Ermita Breccia,
Gama
Genreal Topography,
Gama



Cornerstone has been exploring in Ecuador since 2005 through its wholly-owned subsidiaries, Cornerstone Ecuador S.A. (CESA) and La Plata Minerales S.A. (PLAMIN). The Company has a portfolio of drill-ready projects in Ecuador targeting epithermal gold-silver and porphyry copper-gold deposits.

An important part of the future valuation of Cornerstone derives from its minority financed interest in the Cascabel copper gold project in northern Ecuador, where drilling is ongoing and where fifteen high-priority porphyry centres are now recognized within the project. On January 3, 2018 the Company and its majority joint venture partner SolGold Plc announced a maiden mineral resource estimate for the Alpala deposit of 430 Mt @ 0.8% Copper Equivalent (CuEq) Indicated and 650 Mt @ 0.6% CuEq Inferred (3.4 Mt CuEq Indicated 4.0 Mt CuEq Inferred) at 0.3% CuEq cut off. (For more details, see Cascabel page).

Cascabel is located in north-western Ecuador in an under-explored northern section of the richly endowed Andean Copper Belt, 60 km northeast of the undeveloped inferred resource of 982 million tons at 0.89% Cu Junin copper project (0.4% Cu cut-off grade; Micon International Co. Ltd. Technical Report for Ascendant Exploration SA, August 20, 2004, pages 28 & 29). Mineralization identified at the Junin copper project is not necessarily indicative of the mineralization on the Cascabel Property.

On March 6, 2017, Cornerstone announced that its joint venture partner, Ecuador State Mining Company ENAMI EP, had been granted a number of mineral concessions in Imbabura and Carchi provinces in the same area as the Cascabel and the Llurimagua concessions, for exploration by the ENAMI-CESA strategic exploration joint venture. Nine concession titles totaling almost 40,000 hectares were granted in 2017 by the Ministry of Mining (please see ENAMI Strategic Alliance page).

The Company has two wholly-owned exploration projects located in southern Ecuador, the Bella Maria and Vetas Grandes projects, as well as one property, Caña Brava, in which it has the right to earn 100%. The Vetas Grandes gold prospect is strategically located approximately 15 kilometres west of the Loma Larga (formerly called Quimsacocha) high-sulphidation epithermal gold-silver-copper deposit, south of the Rio Blanco low-sulphidation gold-silver deposit and southeast of the Chaucha porphyry copper-molybdenum deposit. On all three projects, the Company has identified sizeable altered and mineralized zones which offer good potential for new discoveries.

The Company also has a joint venture with Sunstone Metals Inc. on the drill-ready Bramaderos property in Loja Province (please see Bramaderos Property page).



ENAMI Strategic Alliance
Mining Taxation
 
Joint Ventured or Optioned Properties:
Bramaderos (Sunstone Minerals)
Cascabel (SolGold Plc 85% Operator)
100% Cornerstone Properties
Bella Maria
Vetas Grandes
Right to Earn 100%
Caña Brava




Bella Maria

Highlights

Details
The 10.4 km2 (1,040 hectares) property is located approximately 50 km southeast of the city of Machala in El Oro Province, southwestern Ecuador.

Bella Maria is underlain by a series of granodiorites and quartz porphyries that intrude metamorphic rocks. Previous workers identified two zones of significant gold mineralization, approximately 2 km apart. One zone, in the south-central portion of the property, consists of a silica-sulphide breccia that has returned assays averaging 4.5 g/t Au over 40 m from continuous rock chip sampling, including 10.8 g/t Au over 16 m. The second zone occurs 2 km to the northwest and consists of stockwork veins from which grab samples assayed up to 10.8 g/t Au and chip samples returned assays up to 0.54 g/t Au over 6 m. The two zones are separated by an area of thick vegetation and poor exposure with many unexplained geochemical anomalies. Data on the property are being compiled in preparation for initiating further exploration.

Maps

Location Topography Geology
Soils
Au
Stream Sediments
Au
Soils
Cu

Cascabel


Partner
SolGold Plc (AIM code: SOLG)

Highlights

Details
Funded by joint-venture partner SolGold Plc and targeting porphyry copper-gold deposits, the Cascabel property in northern Ecuador has been the focus of a drilling campaign that produced results indicating the discovery of a large gold-enriched copper porphyry system.

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.

The Cascabel property is underlain by Upper Cretaceous sedimentary rocks which are overlain by Oligocene to Miocene andesitic flows and breccias. These units are intruded by Miocene age granodiorite and diorite batholiths and stocks. Major regional tectonic structures in the area strike northeast. One such structure, the Apuela regional fault, transects the southeast part of the Cascabel property. Several mineral prospects which are hosted in the same geological belt, have been identified in the Cascabel district including the Chical (Au-Ag) and Rio Amarillo (Au-Ag-Cu) epithermal prospects located 12 km to the northwest and 12 km to the south of the property respectively. Cascabel is located upstream from an extensive alluvial gold district, Playa de Oro, located 50 km to the west. Alpala MRE Technical Report

Maps

Regional Map Infrastructure Map Development Proposal
Cascabel Targets Cascabel Drilling Cascabel CSD-16-016
Core Images
Cascabel CSD-16-017
Core Images
Cascabel CSD-16-15R2
Core Images
Cascabel CSD-16-016
Core Images
Cascabel CSD-16-016
Core Images
Cascabel CSD-16-017
Core Images
Cascabel Drill Intercept
Table


Photos

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General Topography Gold Panning Cross-cutting
quartz-chalcopyrite-pyrite
veinlets
Malachite along fractures



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This page was created on Tue Aug 21, 2018 at 7:09:16 AM Pacific Time.