=======================================================================
Re: News - Monday, February 10, 2014
14-03 - Cascabel Project Update - Copper Mineralization Extended
to 1106.80m in Hole 5 at Alpala
=======================================================================
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF)
announces the following project update for the Stage 1 drill program at
the Alpala prospect within the Cascabel Project at the Company's
copper-gold porphyry exploration project in northern Ecuador.
Highlights:
- Porphyry copper sulphide mineralization continues to current hole
depth of 1106.80m, and drilling continues.
- Strong correlation between magnetite and chalcopyrite mineralization
on the western margin of the 4km2 Alpala Magnetic Complex indicates
potential for a large scale copper-gold porphyry system.
- Drill rig has capability to reach a depth of 1500 metres. Large
porphyry copper systems are known to extend from surface to 1-2
kilometres below the surface.
- Intention to drill Hole 5 to 1500m to test depth extent of this
strong copper-gold porphyry system.
References to figures related to the version of this release on the
Company's website (www.cornerstoneresources.com) or visible in PDF
format by clicking the link below:
http://www.cornerstoneresources.com/i/pdf/NR14-03Figures.pdf.
Drill Hole CSD-13-005
CSD-13-005 was sited to test beneath holes 1 and 2, which intersected
long runs of copper and gold mineralization associated with porphyry
copper-gold quartz stock-work and sheeted veins at the Alpala prospect.
Copper and gold assay results have been received to a depth of 869.68m
as reported on January 14, 2014.
Hole CSD-13-005 resumed drilling from 869.68m depth on the January 28,
2014. As of February 10, the hole has reached a current depth of
1106.80m.
The extension to Hole CSD-13-005 continues to encounter coarse grained
and highly visible chalcopyrite mineralization from 869.68m to the
current depth of 1106.80m. This mineralization is dominated by
chalcopyrite with some bornite and chalcocite. The copper sulphides
that are being encountered occur in association with significant
magnetite and some anhydrite (both magnetite and anhydrite are common
in the deep potassic altered zone of porphyry copper-gold systems).
The hole at current depth also continues to intersect intense zones of
multidirectional quartz stockwork veining, indicating a strong and
extensive porphyry system. Rich copper sulphide mineral, bornite has
been observed at surface 320m northwest of Hole 5 (near proposed
location of Hole 6) and 1.5 km north at Quebrada Moran. Both of these
areas lie within the 4km2 Alpala Magnetic Complex.
Hole CSD-13-005 is expected to take around 3 weeks to complete if it
continues to a total depth of 1500m. The drilling is expected to
continue as long as significant mineralization is being encountered.
Drilling will also be dependent on other factors such as ground
conditions in the drill hole. Assays for intervals below 869.68m are
expected to be delivered during the second half of February.
About Cascabel
SolGold Plc currently holds a 50% interest, and can earn up to an 85%
interest, in Exploraciones Novomining S.A. ("ENSA"), the Ecuadorian
subsidiary of Cornerstone that holds 100% the Cascabel concession.
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.
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
and NTW core sizes (respectively 7.1 and 5.6 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.
=======================================================================
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 Mon Feb 10, 2014 at 6:45:00 AM Pacific Time
=======================================================================
.
|
VanEck Vectors Global Alternative Energy ETF
|
|
EN DÉVELOPPEMENT |
CODE : CGP.V |
ISIN : CA21922J2083 |
CUSIP : 21922J208 |
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cornerstone est une société d’exploration minière basée au Canada. Cornerstone est en développement de projets d'uranium au Canada, et détient divers projets d'exploration au Canada, au Chili et en Equateur. Son principal projet en développement est AILLIK au Canada et ses principaux projets en exploration sont 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 et INDIAN ARM au Canada, MACARA, BELLA MARIA, MONTERREY et SIERRAMIN en Equateur et LA FORTUNA CHILE au Chili. Cornerstone est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 185,0 millions (147,9 millions US$, 139,4 millions €). La valeur de son action a atteint son plus bas niveau récent le 04 mars 2016 à 0,02 , et son plus haut niveau récent le 18 septembre 2020 à 6,53 . Cornerstone possède 47 442 200 actions en circulation. |