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Re: News - Tuesday, June 28, 2011
11-22 - Work to resume at Cornerstone's La Encrucijada project in
Ecuador
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces that
the Ministry of Mines of Ecuador has authorized the immediate restart
of operations for the five concessions that comprise Cornerstone's 100%
owned "La Encrucijada" project, located in Loja province in southern
Ecuador, approximately 70 km south of the city of Cuenca. La
Encrucijada lies within a northeast trending belt which hosts
high-sulphidation epithermal gold-silver systems and associated
porphyry systems at depth, and is one of two projects (the other being
Cascabel, in northern Ecuador) acquired by Cornerstone through the
acquisition of Santa Barbara Copper and Gold S.A. ("SBCG") earlier this
year (see news release dated February 17, 2011).
"We are excited to be able to resume work on this highly prospective
property, said Brooke Macdonald, Cornerstone's President. Our objective
is to advance La Encrucijada to the drill-ready stage for potential
joint venture participation."
La Encrucijada is underlain by flat-lying Tertiary intermediate to
felsic volcanic rocks which are locally intruded by diorite plugs.
Extensive areas of felsic hydrothermal breccias have been mapped in the
central part of the property, and porphyry-style potassic alteration
underlies silica-alunite advanced argillic alteration. Anomalous gold
(>0.1 g/t Au) and silver (>10 g/t Ag) in rock samples is widespread
throughout the area. Higher grade gold (7 samples >1 g/t Au, up to 5.23
g/t Au) and silver (18 samples >30 g/t Ag, up to 1,110 g/t Ag) is
commonly associated with silica alteration and veins, as well as
breccias and structures (faults and mylonite zones). Very little work
has been carried out on the property. Channel sampling of rock outcrops
by SBCG along the Alumbre River, 2 km to the north, returned 110 m
averaging 0.67 g/t Au and 1.7 g/t Ag, including a higher grade 45
m-wide section averaging 0.95 g/t Au and 2.4 g/t Ag. A limited soil
geochemistry survey (531 samples) has been carried out in the central
part of the property. Results define a northwest-striking gold and
silver soil anomaly which is more than 1 km in length, and is open to
the southeast.
Qualified Person
Yvan Crepeau, M.Ba., P.Geo, President of Cornerstone Ecuador SA and a
qualified person in accordance with National Instrument 43-101, is
responsible for supervising the La Encrucijada exploration program and
has reviewed and approved the information contained in this news
release.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company
based in Mount Pearl, Newfoundland and Labrador, Canada, with a
diversified portfolio of projects in Canada, Ecuador and Chile, and a
strong technical team that has proven its 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 joint venture partnerships. The company is
well funded and commitments from JV partners constitute significant
validation of the strength of Cornerstone's projects.
Further information is available on Cornerstone's website:
www.cornerstoneresources.com or for investor, corporate or media
inquiries, please contact:
Investor Relations:
Email: communications@crigold.com
North America toll-free: 1 (877) 277-8377
Martti Kangas - Direct Line: 1 (647) 521-9261
Paul Benwell / Pat Kairns - Direct Line: 1 (514) 904-1333
Investors can access and join the following Cornerstone social media
channels:
Facebook (http://www.facebook.com/cornerstoneresourcesinc)
Twitter (http://twitter.com/Cornerstone_cgp)
YouTube channel (http://www.youtube.com/user/CornerstoneResource)
Flickr (http://www.flickr.com/photos/cornerstoneresources)
The link to recent CEO audio interviews is:
http://www.cornerstoneresources.com/s/Interviews.asp
The link to a recent Corporate presentation with narration is:
http://rblcommunications.com/resources/CGP/1/CGPmay2011.html
The link to a virtual tour of drilling at the Gama prospect, Shyri
concession in Ecuador is:
http://www.youtube.com/watch?v=Ne8XSfgLwIM
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 subsequent to 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 Macdonald
President
Further information is available on the Cornerstone Web site at
www.cornerstoneresources.com; via e-mail at communications@crigold.com;
or toll free at 1-877-277-8377.
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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Copyright (c) 2011 CORNERSTONE CAPITAL RESOURCES INC. (CGP) All rights
reserved. For more information visit our website at
http://www.cornerstoneresources.com/ or send
mailto:info@cornerstoneresources.com
Message sent on Tue Jun 28, 2011 at 5:15:00 AM Pacific Time
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
CODE : CGP.V |
ISIN : CA21922J2083 |
CUSIP : 21922J208 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cornerstone is a exploration company based in Canada. Cornerstone develops uranium in Canada, and holds various exploration projects in Canada, in Chile and in Ecuador. Its main asset in development is AILLIK in Canada and its main exploration properties are CHALEUR, ANAKTALIK, AUCOIN, LABRADOR TROUGH, VOISEY'S BAY PROPERTY, DEER LAKE PROJECT, DORCHESTER, GOSHEN, EL STRATO, LONG LAKE, NOTAKWANON LAKE, TRUE GRIT, CAPE RAY, COLCHESTER, CODROY PROJECT, LONG HARBOUR, OKAK, GARLAND, KAUK, KONRAD, NOEL PAUL'S BROOK, BOBBY'S POND, LITTLE DEER, CONEY ARM and INDIAN ARM in Canada, MACARA, BELLA MARIA, MONTERREY and SIERRAMIN in Ecuador and LA FORTUNA CHILE in Chile. Cornerstone is listed in Canada, in Germany and in United States of America. Its market capitalisation is 185.0 millions as of today (US$ 147.9 millions, € 139.4 millions). Its stock quote reached its lowest recent point on March 04, 2016 at 0.02, and its highest recent level on September 18, 2020 at 6.53. Cornerstone has 47 442 200 shares outstanding. |