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:
https://cornerstoneresources.com/site/assets/files/5804/nr21-06figures.pdf.
HIGHLIGHTS:
- Two latest holes (ESDD008
and ESDD009) at Espiritu extend the known strike length of the
silver-gold mineralization to 700m
- Drill hole ESDD009
intersected 2 significant lodes of silver-gold-zinc-lead
mineralization including:
- 2.5m at 65.9g/t silver,
1.63g/t gold from 369.5m
- 0.5m at 141g/t silver,
0.28g/t gold, 0.52% copper, 2.73% lead and 1.15% zinc from
370m
- 0.6m at 154g/t silver,
6.46g/t gold from 371.4m (only 140m below surface)
- Detailed soil geochemistry
has defined several significant anomalous areas to the south-east
for drilling
- Espiritu is one of several
similar targets within the Bramaderos project area
Cornerstone VP Exploration, Yvan Crepeau,
said:
“These results
provide more evidence that Espiritu is a large silver-gold system.
It is still early days in the exploration of this system, and we
are still developing models for the style and geometry of
mineralization, that will in turn enable us to better target the
higher-grade areas.
“The early benefits
of this approach are seen in drill hole ESDD009, which delivered
the highest gold grades we have seen in the system.
“We are seeing the
suggestion of groupings of discrete surface anomalies – seen
clearly in Figure 3 - that we believe probably
reflect higher grade shoots, and which will be the focus of ongoing
work. We will be exploring individual targets within an area 700m x
1,500m. Locally these areas contain very high grades of silver and
we are getting closer to understanding the controls on those higher
grades.
“Once ESDD011 is
completed (Figure 2) we will review all data to
plan the next phase of drilling. This will include drilling at
Espiritu Southeast (Figure 3) where Espiritu style
veining is present at surface and corresponds with a cluster of
silver-in-soil anomalies over a strike length of 400m. Espiritu is
just one of several similar targets within the Bramaderos Project
area, which require further exploration.”
FURTHER INFORMATION:
Assay results and geological interpretation from
holes ESDD008 & 9 show multiple silver-gold bearing structures
with various orientations (Figure 1) with local
high-grade mineralization (Table 1), including the
highest gold grades yet drilled at Espiritu.
Drilling of hole ESDD008 was completed at
359.97m. Drill hole ESDD009 was completed at 451.35m and
intersected veins a further 250m south of ESDD008 (Figure
1), now taking the strike extent of the Espiritu
silver-gold system to 700m.
Drill Holes ESDD008 and 009 were drilled at
shallow angles to surface, and partly following topography, and
have only tested to a maximum vertical depth of 140m below
surface.
Evidence of multiple lodes continues to be
identified in drilling. Narrow high-grade zones appear to narrow
and thicken, and better mineralization is interpreted to occur at
vein intersections. This is interpreted to generate sub-vertical
higher-grade shoots as seen in holes ESDD005 and 006, and to be
tested with hole ESDD011 in progress.
Table 1: Details of assay
results from holes ESDD008 and ESDD009:
Drill Hole |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Pb (%) |
Zn (%) |
ESDD008 |
26.0 |
27.0 |
1.0 |
1.06 |
3.78 |
|
|
|
|
60.1 |
62.1 |
2.0 |
|
8.00 |
|
0.13 |
0.20 |
|
166.9 |
167.8 |
0.9 |
0.34 |
24.25 |
|
|
0.15 |
|
251.0 |
252.0 |
1.0 |
0.26 |
2.78 |
|
|
|
|
298.0 |
300.0 |
2.0 |
0.53 |
1.38 |
|
|
|
|
|
|
|
|
|
|
|
|
ESDD009 |
71.0 |
72.0 |
1.0 |
0.31 |
6.02 |
|
|
|
|
113.0 |
115.0 |
2.0 |
|
20.81 |
|
|
0.22 |
|
307.6 |
308.1 |
0.5 |
0.92 |
39.57 |
|
|
6.68 |
|
327.6 |
328.0 |
0.4 |
0.19 |
12.95 |
|
0.28 |
1.04 |
|
369.5 |
372.0 |
2.5 |
1.63 |
65.90 |
0.11 |
0.56 |
0.25 |
Includes |
369.5 |
370.0 |
0.5 |
0.28 |
141.00 |
0.52 |
2.73 |
1.15 |
and |
371.4 |
372.0 |
0.6 |
6.46 |
154.00 |
|
|
|
|
413.5 |
414 |
0.5 |
0.57 |
17.92 |
|
0.16 |
1.58 |
Figure 2 is a cross section
showing drill holes ESDD005, 006, and current hole ESDD011.
Figure 3 shows the status of
the broader Espiritu target area with infill soil geochemistry
highlighting multiple anomalies for follow-up.
Espiritu drill hole locations are shown in Table
2 in the Figures.
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
Surface and drill core samples from Espiritu
were sent to the LAC y Asociados Cia. Ltda. Sample Preparation
Facility in Cuenca, Ecuador for sample preparation. The standard
sample preparation for drill core samples (Code PRP-910) is: Drying
the sample, crushing to size fraction 70% <2mm and splitting the
sample to a 250g portion by riffle or Boyd rotary splitter. The
250g sample is then pulverised to >85% passing 75 microns and
then split into two 50g pulp samples. Then one of the pulp samples
was sent to the MS Analytical Laboratory in Vancouver (Unit 1,
20120 102nd Avenue, Langley, BC V1M 4B4, Canada) for gold and base
metal analysis.
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 7.5% 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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at http://www.cornerstoneresources.com
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 MacdonaldPresident 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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