=======================================================================
Re: News - Thursday, June 13, 2013
13-10 - Channel sampling further expands zone of copper - gold
mineralization at Alpala Prospect. Final stages of preparation
for Phase 1 drilling. Approvals to drill expected shortly.
=======================================================================
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
is pleased to provide a further update on recent developments at the
Cascabel Project in northern Ecuador as it prepares for drilling on the
Cascabel concession. The 5,000 hectare Cascabel Project is optioned to
SolGold Plc, which can earn up to an 85% interest in the Project (see
news release dated February 19, 2013).
Highlights
- Receipt of additional surface channel sample assay results at the
Alpala Prospect has extended the area of outcropping copper gold
mineralization to >400 metres by >200 metres
- Final Environmental Impact Assessment ("EIA") submitted to the
Ministry of Environment
- Finalization of drill hole locations at Alpala Prospect for Phase 1
drilling
- Upgrading of access tracks and infrastructure for drill rig
mobilisation and drill program near completion
- Four other target areas within the Cascabel concession remain to be
investigated for future drill testing
Recent Follow-up Channel Sampling Results at the Alpala Prospect
The surface extent of copper and gold mineralization at the Alpala
Prospect continues to grow. The area of associated intense
clay-silica-pyrite (acid alteration) also referred to as a "lithocap"
occurs over approximately two square kilometres. The lithocap overlies
the copper-gold porphyry target.
On 25th March and 1st May, the Company announced results of follow-up
channel sampling at the Alpala porphyry copper-gold prospect within the
Cascabel concession in Ecuador. These results yielded highly
encouraging copper and gold assay values from surface sampling. The
results significantly expanded the copper-gold quartz-sulphide
stockwork zone at Alpala. This zone occurs within an erosional window
that at the time exposed mineralised dacite porphyry over an area of
approximately 220 metres by 120 metres. In May, the Company also
announced that 3D magnetic modelling had identified a magnetic
apophysis (a geological term for a tapering offshoot from a larger and
deeper igneous intrusion) located centrally below the lithocap at
Alpala. The presence of this magnetic feature supports the
interpretation that copper and gold rich solutions sourced from a deep
regional intrusion have focussed around this apex. This magnetic apex
covers an area of at least 1000 metres by 500 metres under the
clay-silica-pyrite lithocap and occurs below and adjacent to the
outcropping copper-gold stockwork zone at Alpala. Geochemical channel
sampling and geological mapping confirms mineral zonation typical of a
classic copper-gold rich porphyry system.
Additional follow-up channel sampling was conducted during April,
within the area of mineralization at central Alpala and also at higher
elevation in the lithocap to the northeast, south and west of Alpala.
This most recent phase of follow-up sampling has expanded the area of
copper and gold mineralization at surface to an area of up to 430
metres by 200 metres (Figure 1 - All figures found at
http://www.cornerstoneresources.com/i/pdf/NR13-10Figures.pdf.)
A total of 237 channel samples were collected from 45 new channels.
Seven of the new areas sampled yielded significant copper and/or gold
grades as listed in Table 1 below. The best results were 34.35m grading
0.46% copper, 0.19 g/t gold and 6.97m grading 1.07% copper, 0.45 g/t
gold (Table 1).
Channel/Trench No. Length (m) Au (g/t) Cu (%)
TH56-E 10.37 0.01 0.14
Incls. 2.05 0.01 0.46
TH56-D 9.09 0.61 0.19
TH56-G 34.35 0.19 0.46
TH64-B Incls. 17.74 8.24 0.02
0.01 0.07 0.11
TH72-C 2 0.04 0.23
TH73-D 6.97 0.45 1.07
Incls. 5.47 0.56 1.34
TH70-E 2.06 0.21 0.15
Table 1 -- Recent significant channel sample results from Alpala.
Locations are shown in Figure 1.
The remaining channel samples with weakly anomalous copper and gold
grades came from higher levels in the overlying lithocap, or from
peripheral areas, where grades are expected to be lower.
In the broader Alpala region, average copper grades in surface samples
generally increase with decreasing elevation as illustrated in Figure
2, consistent with our model in which copper and gold grades will
increase at depth below the level of surface channel sampling.
Submission of Final Environmental Report to the Ministry of Environment
The final version of the Environmental Report (Estudio de Impacto
Ambiental or "EIA") was submitted to the Ministry of Environment ("ME")
on 31 May. The approval of the EIA by the Ministry of Environment will
progress the Cascabel concession from Early Stage to Advanced Stage
Exploration thereby enabling drilling to occur. The final submission of
the EIA addressed questions arising from the first draft Environmental
Report. Cornerstone utilizes the services of Cardno Latino America
("Cardno"), specialists in all aspects of environmental and social
management. Cornerstone and Cardno are confident that all outstanding
issues raised by the ME have been addressed in the final EIA Report and
believe receipt of approvals for this Environmental License by the ME
is imminent.
Finalization of Phase 1 Drill Hole Locations at Alpala Prospect
A Stage 1 drill program at the Alpala Prospect has been prepared and
approved by SolGold and Cornerstone. The program comprises five
Diamonddrill holes totaling 2500 drill metres. Three holes are sited at
central Alpala to test the area of mineralized porphyry containing
quartz stockwork veining that has been identified by surface channel
sampling (Figure 3). The fourth and fifth holes have been sited to test
the western margin of the 1000 metre long by 500 metre wide magnetic
apophysis, which underlies the southeast lithocap at Alpala (Figure 3).
The Stage 1 drill program will test a zone 500 metres by 400 metres in
area.
Upgrading Access Tracks for Drill Rig Mobilization Near Completion
In anticipation of receipt of the EIA, access tracks to Alpala have
been upgraded to allow mobilization of the drill rig and associated
drilling equipment. Establishment of drill core logging facilities,
field office and other logistic considerations are currently being
finalized in advance of the issuance of the EIA to carry out advanced
exploration.
Four Other Target Areas at Cascabel
Apart from the highly prospective Alpala Prospect, there are currently
four other target areas within the Cascabel tenement including:
Quebrada Tandayama-America, Aguinaga and Quebrada Moran are prospective
for copper-gold porphyry deposits and Rio Cachaco is prospective for
epithermal gold style mineralization (Figure 4). These targets will be
investigated further over the next 6 to 12 months.
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. Commitments from
JV partners constitute significant validation of the strength of
Cornerstone's projects.
Qualified Person(s)
The technical information contained in this news release has been
reviewed and approved by Yvan Crepeau, P.Geo., President of Cornerstone
Ecuador S.A. and Minera Cornerstone Chile Limitada (Ecuadorian and
Chilean projects), a qualified person in accordance with National
Instrument 43-101.
Further information is available on Cornerstone's website:
www.cornerstoneresources.com or for investor, corporate or media
inquiries, please contact:
Investor Relations:
Email: ir@cornerstoneresources.ca
North America toll-free: 1 (877) 277-8377
The link to a recent Corporate presentation is:
http://www.cornerstoneresources.com/i/pdf/Presentations_0912_CRICorporate.pdf
Investors can also access Cornerstone on Twitter.
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 and CEO
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.
=======================================================================
Copyright (c) 2013 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 Thu Jun 13, 2013 at 5:15:00 AM Pacific Time
=======================================================================
.