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/NR20-24Figures.pdf.
HIGHLIGHTS:
- Drilling has started at the Espiritu gold-silver target
at Bramaderos
- The first hole will test the depth extent of
the gold-silver polymetallic system which
assayed:
- in trench channel samples: 21m at
82.4g/t silver, 0.3g/t gold, 1.4% zinc and 1.2% lead,
including 4m at 415g/t silver, 0.9g/t gold, 6.9%
zinc and 6% lead;
- in surface rock chip samples, 4.2g/t
gold and 101g/t silver, 11.9g/t gold and 175g/t
silver, and 11.6g/t gold and 2,962g/t silver
- Espiritu is the first target of many that Cornerstone
and Sunstone intend to follow up in the current drill campaign at
Bramaderos
- At the E-11 gold-silver target at Bramaderos, soil
sampling results have defined a coherent gold-silver-zinc anomaly
measuring 300m x 100m
FURTHER INFORMATION:
Sunstone has commenced a 2,000m drilling program
at the Espiritu gold-silver (Figures 1, 2, 3) and
Brama targets within its Bramaderos project in southern
Ecuador.
The initial five-hole, 600m program at the
Espiritu gold-silver target is designed to test the depth extent of
high-grade trench and rock chip samples and is expected to be
completed in early October with assay results expected in
mid-October.
In addition to the preparation for drilling over
the past few months, exploration teams have been advancing work on
Espiritu and on other Espiritu-style targets that are located
around the porphyry systems at Bramaderos.
Geological mapping and in-fill soil sampling
have been completed at Espiritu and are well advanced at E1, E3,
and Espiritu Norte. Similar programs will be undertaken in coming
months in other areas such as E2, E10, and E11 (Figures 1
and 3).
In-fill soil sampling at E-1 has outlined a
coherent gold-silver-zinc multi-element anomaly over 300m by 100m.
Previous rock chip results from E-1 identified areas of highly
anomalous gold and silver in bedrock (up to 32.5g/t Au and 271.5g/t
Ag). Limited historical drilling at E-1 is considered to have been
ineffective because it was orientated parallel to the interpreted
mineralized structures, instead of drilling across the structures
(Figure 4).
Should drilling at Espiritu be successful, a
pipeline of similar targets will be advanced to the drilling stage
over coming months. These may include additional gold-silver
geochemical targets in the southern part of the concession at E5,
E6, E7, E8 and E9 (Figure 1).
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
21.4% 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 7.6% 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
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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 Target E1 has historical rock chip sampling that returned
results of up to 32.5g/t gold, 271g/t silver and 0.16% lead. 13
samples were collected historically, along a ~N-S trench with 1m
individual sample length, range gold 32.5 to 0.2g/t, average
2.7g/t. Range of Silver is 0.2 to 271.5g/t, and average 29.9g/t
silver. Range of lead 7 - 1981ppm, with average 533ppm (0.05%).
Note that grab samples are selected samples and are not necessarily
representative of the mineralization hosted on the property.
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