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 Ltd. (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/5847/nr22-10figures.pdf.
HIGHLIGHTS:
- Drilling continues to
return grades in line with, or better than, other porphyry
gold-copper deposits demonstrating Alba is an outstanding
gold-copper porphyry discovery with scale.
- Alba is interpreted to be a
gold rich gold-copper porphyry deposit with significant vertical
extent, and with an upper gold zone locally containing visible
gold. It is one of a cluster of systems currently being tested with
drilling at Bramaderos.
- Results contain
significant, consistent gold-copper intervals greater than 300m,
with high-grade sub-intervals.
- Results include:
- 345.5m at 0.37g/t gold and
0.13% copper from 82.5m in BMDD022 including:
- 24m at 0.70g/t gold and
0.18% copper from 306m
- 397m at 0.30g/t gold and 0.10% copper from 102m in
BMDD025 including:
- 22m at 0.61g/t gold
and 0.14% copper from 159m
- BMDD024 intersected a gold
zone of 2.8m at 1.21g/t gold located 350m from the previously
reported upper gold zone (7m at 27g/t) hence expanding this target
area.
- All holes have intersected
copper as chalcopyrite, bornite and covellite in variably veined
stockwork porphyry. Local visible gold was identified in
BMDD025.
Cornerstone VP Exploration, Yvan Crepeau,
said:
“With each set of assay results the Alba
gold-copper porphyry grows in scale. We are now seeing a
consistently well mineralized system with local higher grades of
significant scale.
“The mineralization extends from surface to
greater than 400m deep, where the system is wide open and untested.
The grades are in line with or better than those seen in many
gold-copper porphyries around the world.
“Current drilling is testing both the lateral
extent and the vertical extent based on the recent results from an
electrical geophysical survey which suggest a 1,000m vertical
extent.
“Drill hole BMDD024 also intersected a narrow
but significant gold zone located 350m away from the centre of the
Alba porphyry. This could support the concept of high-grade roots
of epithermal veins also over-printing the upper porphyry
body”.
* 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.
FURTHER INFORMATION:
Results from hole BMDD022 now include the
extension of the original hole that ended in mineralization (see
news release dated March 7, 2022). The extension added an
additional 106m down-hole of gold-copper mineralized rock. The hole
was drilled at a low angle and therefore has significantly
broadened the gold-copper porphyry deposit near surface (see
Figure 4).
Drill hole BMDD024 was drilled southwest of the
main target area during a period when electrical geophysics was
being completed over the main target zone, precluding drilling in
the target area. Significantly, BMDD024 intersected a narrow
massive sulphide zone that also contained gold, suggesting
potential for high-grade roots of epithermal veins also
over-printing porphyry mineralization in the area.
BMDD025 was drilled below hole BMDD023 (which
intersected 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 from 76.4m).
BMDD025 has added nearly 200m of additional
vertical extent to this well mineralized system below BMDD023
(Figure 5). Drill hole BMDD027 has further tested
this vertical extent a further 100-250m below BMDD025 on this
section (assays pending).
This additional drilling is adding to the scale
of the system which now measures at least 300m in diameter and a
vertical extent exceeding 400m (and potentially up to 1,000m based
on geophysics (see news release dated March 17, 2022).
Project operator Sunstone currently has 3 rigs
operating at Alba. Those rigs are drilling holes 28, 30 and 31
(Figures 3 & 4).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 |
55.70 |
237.40 |
181.70 |
0.43 |
0.10 |
3.0 |
1.0 |
|
|
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 |
|
|
93.00 |
204.00 |
111.00 |
2.35 |
0.07 |
40.6 |
0.9 |
|
|
106.80 |
136.00 |
29.20 |
7.68 |
0.05 |
35.5 |
0.7 |
|
|
124.80 |
132.00 |
7.20 |
26.88 |
0.04 |
16.9 |
0.8 |
|
|
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 |
|
|
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 |
|
|
119.00 |
139.00 |
20.00 |
0.91 |
0.04 |
32.6 |
0.51 |
|
|
126.00 |
133.00 |
7.00 |
1.77 |
0.05 |
27.1 |
0.7 |
|
|
164.00 |
357.70 |
193.70 |
0.5 |
0.16 |
29.5 |
1.51 |
|
|
|
|
|
|
|
|
|
BMDD021 |
407.64 |
107.6 |
331.3 |
223.7 |
0.58 |
0.13 |
40.9 |
1.2 |
|
|
135 |
272.4 |
137.4 |
0.75 |
0.17 |
51 |
1.4 |
|
|
136 |
196.7 |
60.7 |
1.01 |
0.19 |
73.3 |
1.5 |
|
|
219.8 |
234.4 |
14.6 |
0.85 |
0.2 |
48.8 |
1.5 |
|
|
|
|
|
|
|
|
|
BMDD022 |
453.12 |
35.50 |
46.00 |
10.50 |
0.23 |
|
11.3 |
|
|
|
82.50 |
428.00 |
345.50 |
0.37 |
0.13 |
10.6 |
1.4 |
|
incl |
118.00 |
140.00 |
22.00 |
0.57 |
0.09 |
15.5 |
1.2 |
|
and |
212.00 |
346.00 |
134.00 |
0.44 |
0.16 |
4.0 |
1.7 |
|
incl |
306.00 |
330.00 |
24.00 |
0.7 |
0.18 |
3.8 |
1.7 |
|
|
|
|
|
|
|
|
|
BMDD023 |
379.66 |
76.6 |
299 |
222.4 |
0.37 |
0.13 |
3.9 |
1.3 |
|
incl |
137 |
140.4 |
3.4 |
0.66 |
0.19 |
3.0 |
1.6 |
|
and |
183 |
267.2 |
84.2 |
0.51 |
0.16 |
3.1 |
1.5 |
|
|
|
|
|
|
|
|
|
BMDD024 |
241.97 |
0 |
42.5 |
42.5 |
0.17 |
0.03 |
9.6 |
1.7 |
|
|
174.80 |
177.60 |
2.80 |
1.21 |
0.05 |
5.9 |
1.2 |
|
|
|
|
|
|
|
|
|
BMDD025 |
663.54 |
102.00 |
499.00 |
397.00 |
0.30 |
0.10 |
14.2 |
1.2 |
|
|
113.00 |
378.00 |
265.00 |
0.39 |
0.12 |
15.8 |
1.3 |
|
|
120.00 |
126.00 |
6.00 |
0.47 |
0.07 |
56.4 |
0.9 |
|
|
141.00 |
266.00 |
125.00 |
0.44 |
0.14 |
19.1 |
1.7 |
|
|
159.00 |
181.00 |
22.00 |
0.61 |
0.14 |
28.0 |
1.6 |
|
|
230.00 |
264.00 |
34.00 |
0.52 |
0.19 |
4.2 |
1.7 |
|
|
|
|
|
|
|
|
|
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 6.85% 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.
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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