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Re: News - Tuesday, February 25, 2014
14-05 - SolGold elects to increase ownership to 85%
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
announces that it has received notice from SolGold Plc electing to
increase their equity ownership in Exploraciones Novoming S.A. ("ENSA")
to 85%.
About Cascabel
SolGold will hold 85% interest in ENSA, the Ecuadorian subsidiary of
Cornerstone that holds 100% of the Cascabel concession. SolGold must
subscribe to CAD$250,000 of shares in Cornerstone at $0.10 per share,
subject to TSX-V approval, and give Cornerstone CAD$100,000 of SolGold
shares to increase the ownership to 85%.
The Cascabel project is located in north-western Ecuador in an
under-explored northern section of the richly endowed Andean Copper
Belt, 60 km northeast of the undeveloped NI 43-101 compliant inferred
resource of 982 million tons at 0.89% Cu Junin copper project.
Drill Hole CSD-13-005 Update
CSD-13-005 has been terminated at 1,370 metres due to difficult ground
conditions. Assays from 869.5m to 1,194m are expected within a week,
and assays from 1,194m to 1,330m have been dispatched to the assay lab
and results are expected within 10 days. The last 40m will be sent to
the lab shortly.
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 Cascabel
project and has reviewed and approved the information contained in this
news release.
Logging, sampling and assaying
Holes referred to in this release were or are being drilled using HTW,
NTW and NQ core sizes (respectively 7.1, 5.6 and 4.8 cm diameter).
Geotechnical measurements such as core recovery, fracturing, rock
quality designations (RQD's), specific density and photographic logging
are performed systematically prior to assaying. The core is logged,
magnetic susceptibility measured and key alteration minerals identified
using an on-site portable spectrometer. Core is then sawed in half at
Cornerstone's core logging facility and half of the core is delivered
by Cornerstone employees for preparation at Acme Analytical
Laboratories (ACME) affiliate laboratory in Cuenca. Core samples are
prepared crushing 1 kg to 80% passing 2 mm (10 mesh), splitting 250 g
and pulverizing to 85% passing 0.075 mm (200 mesh) (ACME code
R200-250). Prepared samples are then shipped to ACME in Vancouver,
Canada where samples are assayed for a multi-element suite (ACME code
1E, 0.25g split, 4-acid digestion, ICP-ES finish). Over limit results
for Ag (> 100 g/t), Cu, Pb and Zn (each one > 1%) are systematically
re-assayed (ACME code 7 TD1 or 7 TD2, 4-acid digestion, ICP-ES finish).
Gold is assayed using a 30 g split, Fire Assay (FA) and AA or ICP-ES
finish (ACME code G601).
Quality assurance / Quality control (QA/QC)
The ACME affiliate preparation facility in Cuenca was audited by
Cornerstone prior to the start of the drilling program and ACME is an
ISO 9001:2008 qualified assayer that performs and makes available
internal assaying controls. Duplicates, certified blanks and standards
are systematically used (1 control sample every 15 samples) as part of
Cornerstone's QA/QC program. Rejects, a 100 g pulp for each core sample
and the remaining half-core are stored for future use and controls.
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 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.
Further information is available on Cornerstone's website:
www.cornerstoneresources.com and on Twitter. For investor, corporate or
media inquiries, please contact:
Investor Relations:
Email: ir@cornerstoneresources.ca
North America toll-free: 1 (877) 277-8377
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.
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Copyright (c) 2014 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 Feb 25, 2014 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. |