OTTAWA, June 06, 2017 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSX-V: CGP ) (Frankfurt: GWN ) (Berlin: GWN ) (OTC:CTNXF) is pleased to provide further information on the recent highly successful initial field visit at the Bramaderos Gold-Copper Project in southern Ecuador where its subsidiary La Plata Minerales S.A. (“PLAMIN”) has signed a binding letter of intent with Avalon Minerals Ltd. (ASX:AVI) whereby Avalon will have the right to earn a majority interest in the 4,949 hectare “Bramaderos” concession subject to satisfaction of certain conditions.
A location map of the Bramaderos concession, figures and photographs 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/NR17-15Figures.pdf .
Highlights
- Field investigations at Bramaderos have identified several target areas for high priority follow-up exploration
- Assessment of known mineralized areas also highlights significant exploration potential
- Follow-up exploration on track to start later this month
- Assays from rock chips samples due within four weeks
The initial field program was aimed at further defining and prioritizing the exploration program which is due to commence later this month.
Thirteen surface rock chip samples were collected across multiple prospects within the property. These have been submitted to the MS Analytical Laboratory sample preparation facility in Ecuador. Assaying will be carried out in Vancouver, Canada. Assay results are expected in late June.
Figure 2 shows location and photographs from main prospects identified so far on the Bramaderos property.
Photographs from figures 3 and 4 show outcrops from the Limon gold-copper prospect exhibiting surface mineralization, and intense stockwork and sheeted quartz veining indicative of a porphyry-style mineralized system. The area of veining at surface is surrounded at a more regional scale by extensive areas of intense argillic alteration which is interpreted to represent an epithermal alteration overprint.
Previous rock chip sampling in the Limon area has returned up to 1.8% Cu and 1.45g/t Au in rock chip samples, and paired samples of 1.24g/t Au and 0.23% Cu, and 1.45g/t Au and 0.45% Cu. Historic soil sampling has defined areas of coincident Cu, Au and Mo anomalies over an area of approximately 1.4km x 0.5km. This prospect has never been drill tested.
A proposed work program commencing in June across the Bramaderos Project comprises:
- Re-processing of existing ground magnetic data;
- Collection of additional ground magnetic data in areas not previously covered;
- Detailed geological mapping and rock chip sampling at each of Bramaderos main, Porotillo, Melonal, Limon and West Zone prospects;
- Trenching at the West Zone prospect to follow up historical trenching of 41.7m @ 3.7g/t Au;
- Alteration mapping to provide vectors to mineralization;
- Regional mapping and sampling in areas not previously explored and yet exhibit potential outcropping mineralization such as Yeso and Ghangue prospects in the south.
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.
About Cornerstone:
Cornerstone Capital Resources Inc. is a well-funded mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, and a proven ability to identify, acquire and advance properties of merit. The company’s business model is based on generating exploration projects whose subsequent development is funded primarily through partnerships.
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 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, Hugh 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.
