OTTAWA, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador (Figure 1), which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (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:
Assays from drill holes BMDD004, BMDD005, and BMDD006 extend the known mineralization at the Bramaderos Main gold-copper deposit
° 127m (true width1 “tw” 89m) at 0.57g/t gold and 0.1% copper from 216.8m in BMDD005, including
· 39m (tw 27m) at 0.72g/t gold and 0.13% copper from 295m
° 46.2m (tw 32m) at 0.45g/t gold and 0.18% copper from 15m, and 72.5m (tw 51m) at 0.42g/t gold and 0.12% copper from 319.15m in BMDD006
BMDD005 extends the known mineralization 150m northwest of BMDD001 which intersected 172m (tw 120m) at 0.52g/t gold and 0.16% copper from surface
BMDD006 extends mineralization a further 360m to the north-west of BMDD005
BMDD004 defined the east margin of the system in the vicinity of BMDD001
BMDD007 which is in progress has intersected zones of quartz veining and visible chalcopyrite
The strike extent of mineralization outlined from BMDD002 to BMDD006 is now 640m and reflects the surface trench which intersected 615m (tw 430m) at 0.52g/t gold and 0.11% copper.
The total strike extent of the mineralization from BMDD002 to BMDD007 is now more than 1km
Mineralization remains open to the northwest and southeast
At the Bramaderos Main target, assay results from drill holes BMDD004, BMDD005, and BMDD006 have been received. All holes have intersected intervals of gold and copper.
Table 1: Significant Assays from Bramaderos Main holes BMDD004, 005 and 006
Cornerstone VP Exploration Yvan Crepeau said:
“The new drilling results from Bramaderos Main strengthen our and Sunstone’s view that the area hosts a quality gold-copper porphyry system. We have intersected widespread mineralization that now has a strike extent of over 1km. Follow-on exploration is aimed at defining the geometry of the higher-grade domains within that 1km, and further extending mineralization.
“We have delivered intervals from trenches of 615m (tw 430m) at 0.52g/t gold and 0.11% copper and drill holes of 248m (tw 173m) at 0.56 g/t gold and 0.14% copper (CURI-03) and 172m (tw 120m) at 0.52 g/t gold and 0.16% copper (BMDD0011) within 200m of surface, which is an indication that the system may host a deposit. Our ongoing work with magnetics data and structural interpretation will further assist in unlocking the geometry.
“We also decided to understand and further test the Bramaderos Main system prior to embarking on a drilling program at Porotillo. We are now advancing the Porotillo exploration program so that drilling can commence over the next few months. The Porotillo magnetic anomaly is significantly larger than Bramaderos Main and is mineralized based on surface sampling and historic drill holes, such as 26m (tw 18m) at 1.1g/t gold and 0.16% copper from 6m downhole in CURI-05.”
High resolution ground magnetic data has been processed and has undergone further modeling including constrained 3-D modeling (Figure 2). This latest modeling is being integrated with ongoing geological studies. The Bramaderos Main porphyry gold-copper system has been modified by localized post mineral intrusives and faulting, and further drilling and structural studies will further refine the geometry of the system.
In ongoing activities at Bramaderos, full analysis of the West Zone target and the epithermal gold targets in the western portion of the concession is nearing completion and will be reported once that process is properly concluded.
Drilling at Limon is ongoing and hole LMDD006 (Figure 3) is expected to be completed towards the end of January.
Surface exploration at Porotillo is continuing. Ground magnetics and geological mapping have been completed. Trenching is being planned to cover areas of partially outcropping porphyry gold-copper mineralization.
Table 2: Drill hole details for the Bramaderos Main target to date.
Measuring 4,948 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway which crosses the property.
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.
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
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-20 is considered a near total 4 acid technique using a 20g 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. MS Analytical is an internationally accredited laboratory that has all its internal procedures heavily scrutinized in order to maintain their accreditation. MS Analytical is accredited to ISO/IEC 17025 2005 Accredited Methods.
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 9001-2008 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 MS Analytical Services (MSA), an ISO 9001-2008 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)
The MSA Analytical Laboratory 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.
Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.
Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333
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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 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,
President 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.
1 True widths are estimated, but cannot be determined accurately at this time from the limited number of holes drilled.
2 True widths are estimated, but cannot be determined accurately at this time from the limited number of holes drilled.