OTTAWA, July 18, 2017 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt: GWN ) (Berlin: GWN ) (OTC:CTNXF) is pleased to announce results from the initial field program at its 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 project subject to satisfaction of certain conditions (see news release 17-08 dated April 10, 2017).
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/NR17-27Figures.pdf .
Highlights:
- Rock chip sampling has returned encouraging results from several prospects within the Bramaderos Project area: - 4.4 g/t gold from the West Zone prospect 1 - 1.2 g/t gold and 0.40% copper from Limon prospect 1
- Detailed surface exploration across several prospects has commenced
- Permitting for initial round of diamond drilling has commenced
Further Information: The field campaign was aimed at reviewing all prospects at Bramaderos and defining priorities for ongoing work.
At the Limon Porphyry Gold-Copper Prospect , several surface samples in the vicinity of outcropping vein stockwork returned assays of:
1.0 g/t gold and 0.2% copper 1 1.2 g/t gold and 0.40% copper 1 0.9 g/t gold and 0.1% copper 1
At West Zone Prospect a rock chip sample collected in the vicinity of historical trench samples returned 4.4 g/t gold (and 6.85 g/t silver) from hydrothermal breccias within an epithermal gold system, interpreted to have a strike extent of over 300m.
The historical trenching at West Zone (referred to above) resulted in 41.7m @ 3.37 g/t gold from surface.
At Yeso Prospect , samples from outcropping weakly developed quartz-magnetite stockwork returned 0.25 g/t gold, which is very encouraging for future exploration in this area, where greater intensity veining may be identified.
The results support the highly prospective nature of the Bramaderos Project and that mineralization occurs across several additional prospects beyond the principal Bramaderos Main porphyry gold-copper prospect, within the 5,000ha exploration area.
Systematic Exploration has Commenced
The exploration program on the Bramaderos concession has commenced. Field crews have been deployed to undertake geological mapping, surface rock sampling, grid soil sampling and trenching.
Detailed work programs are being simultaneously undertaken at the Limon, Bramaderos Main and West Zone prospects, whilst reconnaissance activities will be undertaken over other areas of the property.
- Three geologists are undertaking field mapping and supervising the exploration activities.
- Detailed soil sampling has commenced first at Limon and then will progress across the entire concession area.
- Trenching has commenced at West Zone.
- Reprocessing of historical ground magnetic data is in progress.
The program is expected to take 4 months and will include additional geophysical surveys.
Drill Permitting
The process for drill permitting has commenced. Permitting to use local water in the drilling program has been initiated with the relevant government office. Site baseline environmental assessments have commenced.
Regular meetings with stakeholders are being held to keep them informed of progress on current exploration activities and on the drill permitting process.
The Company expects to be in a position to commence drilling in Q4 2017.
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
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 2mm (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, 30 g., gravimetric 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 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.
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.
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1 NOTE: The results reported are from grab samples from outcropping rocks collected over approximately one metre, and are not necessarily representative of the mineralization hosted on the property.
