Cornerstone Capital Resources Inc. (“Cornerstone” or “the
Company”) (TSXV:CGP; OTC:CTNXF; FWB:GWN1) is pleased to
provide an update on its Bramaderos gold and copper joint venture
in southern Ecuador (see
Figures 1 and 2) 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/5841/nr22-04figures.pdf.
HIGHLIGHTS:
- Significant high-grade
gold-copper assays from follow-up drill holes BMDD021, BMDD022, and
BMDD023 at Alba
- Results include:
-
60.7m1 at 1.01g/t gold
and 0.19% copper from 136m, within 137.4m at 0.75g/t gold and 0.17%
copper from 135m, and within a broad interval of
- 223.7m at 0.58g/t gold and
0.13% copper, from 107.6m in BMDD021
- 239.4m at 0.42g/t gold and
0.13% copper, from 82.5m to end of hole in BMDD022;
including
- An open interval at the end
of hole of 7.9m at 0.84g/t gold and 0.21% copper from
314m
- 84.2m at 0.51g/t gold and
0.16% copper from 183m, within 222.4m at 0.37g/t gold and 0.13%
copper in BMDD023
- Hole BMDD022 ended in
mineralization, with 0.9g/t gold and 0.23% copper in the last 1.9m
sample - This hole has now been extended with assays
pending
- All holes intersected
copper as chalcopyrite, bornite and covellite in variably veined
stockwork porphyry
- Results from the previously
reported discovery hole (BMDD012) included 111m at 2.35g/t gold
from 93m (see news release dated November 18, 2021)
- Follow-up drilling is
underway; 2 more rigs being mobilized to Alba to bring total rigs
on site to 3
1 The true width of downhole intersections
cannot be determined at this time due to insufficient drilling.
Holes BMDD021 and BMDD022 were drilled below and
above the previously reported holes BMDD012 and 020 (see news
releases dated November 18, 2021, and January 20, 2022). Hole
BMDD023 was drilled to the south, with an approximate 50m step out
from BMDD012.
Drill hole BMDD012 intersected 111m at 2.35g/t
gold (from 93m), including an upper high-grade interval of 7.2m at
27g/t gold, and drill hole BMDD020 intersected 193.7m (from 164m)
at 0.5g/t gold and 0.16% copper, including a high-grade zone of 21m
at 0.91g/t gold and 0.17% copper.
Adequate drilling and analysis of results has
now been completed, enabling Alba to be interpreted as a high-grade
gold rich porphyry environment with visible gold occurring in the
upper zones of the porphyry and delivering locally very high
grades.
The main porphyry system at Alba has now been
intersected in five drill holes (BMDD012, 020, 021, 022, 023). It
has some very high grades including 60.7m at 1.01g/t gold and 0.19%
copper in BMDD021.
On section, the immediate area of drilling has
dimensions of ~250m wide and a vertical extent exceeding 400m.
Drilling currently underway will define the system laterally.
Copper minerals within locally intensely stockwork veined porphyry
include chalcopyrite, bornite and covellite- - the latter two
minerals being high tenor copper sulphides.
A second mineralised porphyry intrusion
(apophyse) was previously intersected in BMDD007 on the southwest
side of Alba, and this section of the broader Alba area will also
be followed up in up-coming drilling.
The latest results from Alba are extremely
significant for the Bramaderos project for several reasons:
- The currently known size of the
high-grade porphyry is expected to grow as more holes are
drilled
- Alba delivers a high-grade domain
that could play a critically important role in a development
scenario at Bramaderos, particularly given its potential to provide
high-grade feed at the start of an operation
- The Alba results have significant
flow-on effects for the potential value of the directly adjacent
Brama system
- Plans for a maiden Mineral Resource
Estimate for Brama will likely be expanded to incorporate Alba
- Other Alba-style exploration
targets are now being defined within the broader Bramaderos
concession including at Limon where porphyry targets remain below
the gold-bearing lithocap
Cornerstone VP Exploration, Yvan Crepeau,
said:
“We now have enough
drilling and geological data to build a picture of a high-grade
gold-copper porphyry system at Alba. Furthermore, there are signs
that grade is increasing with depth in the system given the
high-grade results in BMDD021.
“We are generating
grades which are consistently in line with or better than those
seen in many of the most important porphyries around the world. We
would encourage investors to compare the Alba grades with some of
those world-class porphyries.
“We are also
confident that the extensive electrical geophysical survey just
completed at Alba will generate additional Alba-style drilling
targets.”
FURTHER INFORMATION:
Assay results to date from Alba include:
Drill Hole |
EOH (m) |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Cu (%) |
Mo (ppm) |
Ag (g/t) |
|
|
|
|
|
|
|
|
|
BMDD007 |
543.17 |
8.00 |
515.80 |
507.80 |
0.22 |
0.06 |
6.0 |
0.7 |
incl |
|
55.70 |
237.40 |
181.70 |
0.43 |
0.10 |
3.0 |
1.0 |
incl |
|
55.70 |
107.50 |
51.80 |
0.47 |
0.11 |
6.0 |
1.4 |
|
|
|
|
|
|
|
|
|
BMDD012 |
452.32 |
93.00 |
353.40 |
260.40 |
1.11 |
0.08 |
24.0 |
1.2 |
incl |
|
93.00 |
204.00 |
111.00 |
2.35 |
0.07 |
40.6 |
0.9 |
incl |
|
106.80 |
136.00 |
29.20 |
7.68 |
0.05 |
35.5 |
0.7 |
incl |
|
116.80 |
134.00 |
17.20 |
12.45 |
0.05 |
28.0 |
0.8 |
incl |
|
124.80 |
132.00 |
7.20 |
26.88 |
0.04 |
16.9 |
0.8 |
incl |
|
154.00 |
188.00 |
34.00 |
0.61 |
0.10 |
64.6 |
1.2 |
|
|
|
|
|
|
|
|
|
BMDD013 |
299.58 |
107.00 |
180.45 |
73.45 |
0.32 |
0.13 |
14.6 |
0.8 |
incl |
|
165.00 |
167.00 |
2.00 |
2.02 |
0.07 |
81.0 |
0.5 |
|
|
|
|
|
|
|
|
|
BMDD020 |
359.73 |
95.00 |
359.73 |
264.73 |
0.49 |
0.13 |
29.0 |
1.3 |
incl |
|
119.00 |
139.00 |
20.00 |
0.91 |
0.04 |
32.6 |
0.51 |
incl |
|
126.00 |
133.00 |
7.00 |
1.77 |
0.05 |
27.1 |
0.7 |
and |
|
164.00 |
357.70 |
193.70 |
0.5 |
0.16 |
29.5 |
1.51 |
incl |
|
173.30 |
182.40 |
9.10 |
0.91 |
0.16 |
31.7 |
1.4 |
incl |
|
185.25 |
193.00 |
7.75 |
0.81 |
0.15 |
41.3 |
1.36 |
incl |
|
203.00 |
224.00 |
21.00 |
0.91 |
0.17 |
42.1 |
1.5 |
|
|
|
|
|
|
|
|
|
BMDD021 |
407.64 |
107.6 |
331.3 |
223.7 |
0.58 |
0.13 |
40.9 |
1.2 |
incl |
|
135 |
272.4 |
137.4 |
0.75 |
0.17 |
51.0 |
1.4 |
incl |
|
136 |
196.7 |
60.7 |
1.01 |
0.19 |
73.3 |
1.5 |
and |
|
219.8 |
234.4 |
14.6 |
0.85 |
0.20 |
48.8 |
1.5 |
|
|
|
|
|
|
|
|
|
BMDD022 |
321.91 |
35.30 |
46.00 |
10.70 |
0.23 |
|
|
|
|
|
82.50 |
321.91 |
239.41 |
0.42 |
0.13 |
13.1 |
1.4 |
incl |
|
118.00 |
140.00 |
22.00 |
0.57 |
0.09 |
15.5 |
1.2 |
incl |
|
212.00 |
321.91 |
109.91 |
0.43 |
0.16 |
3.7 |
1.7 |
|
|
314.00 |
321.91 |
7.91 |
0.84 |
0.21 |
3.7 |
1.8 |
|
|
|
|
|
|
|
|
|
BMDD023 |
379.66 |
76.60 |
299.00 |
222.40 |
0.37 |
0.13 |
3.9 |
1.3 |
incl |
|
137.00 |
140.40 |
3.40 |
0.66 |
0.19 |
3.0 |
1.6 |
and |
|
183.00 |
267.20 |
84.20 |
0.51 |
0.16 |
3.1 |
1.5 |
* The reader is cautioned that there has been insufficient
exploration to define a mineral resource at Bramaderos and it is
uncertain if further exploration will result in the target being
delineated as a mineral resource.
About Bramaderos
Measuring 4,948 hectares, the Bramaderos project
is ideally located immediately adjacent to the Pan American
highway, and within reasonable distance of available hydropower,
supporting the economics of potential development opportunities.
The project is also supported by nearby commercial airports and
significant cities (Loja) and enjoys strong community support.
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 Brama 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 1000g portion by riffle or Boyd rotary splitter.
The 1000g sample is then pulverised to >85% passing 75 microns
and then sent to the MSALABS in Langley, BC, 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-230 is considered a near total 4 acid technique
using a 0.25g 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.
MSALABS is an internationally accredited laboratory that has all
its internal procedures heavily scrutinized in order to maintain
their accreditation. MSALABS is accredited to ISO/IEC 17025-2017
Accredited Methods and certified to ISO 9001-2015.
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 9001-2015 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 MSALABS, an ISO/IEC 17025-2017 Accredited
Method company and ISO 9001-2015 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)
MSALABS 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
20.8% 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 6.86% 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 anti-mining sentiment in
certain regions of Ecuador, or 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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