Ottawa, ON, Canada: Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce further results from the initial field program at its Bramaderos Gold-Copper Project in southern Ecuador where its subsidiary La Plata Minerales S.A. ("PLAMIN") has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX: STM) whereby Sunstone will have the right to earn a majority interest in the project subject to satisfaction of certain conditions (see news release 17-08 dated April 10, 2017).
A location map of the Bramaderos concession, figures and photographs 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:
- Further strong results from five additional trenches completed at the West Zone epithermal gold prospect;
- Trench 8 : 8.9m at 6.1g/t Au, open in all directions
- Trench 5: 12.3m at 0.9 g/t Au, including 2m at 2.1g/t Au, open
- Trench 7: 11.6m at 1.8g/t Au
- Trench 6: 8.4m at 1.2g/t Au
- Highest individual sample 1m at 12g/t Au
- This is the second batch of strong trenching results from West Zone, with the final batch expected later this month
- The results from the three batches will be used to identify drilling targets and drilling approvals are expected by the end of this year
- The trenching results present a robust continuous bedrock sample across the mineralized system and as such are comparable to a horizontal drill hole sample at surface
The new results, complementing those released on September 25, 2017, add to the emerging picture of a hydrothermal breccia-hosted epithermal gold system, with a surface footprint of at least 150m x 150m and depth extent to be tested by drilling.
These trenches present a continuous sample of bedrock across and within the mineralized zones. Much of the area is covered by scree on hill slopes limiting the lateral extent of some trenches. As a result, the lateral extent of mineralization is yet to be defined, but is expected to be larger than the limited area of trench sampling to date.
This area has never been drilled and represents a prime target for drilling once the drilling permit is received, which is expected by the end of this year.
Trench Gold and Silver Assay Results; all trenches sampled and assayed to date
|Trench Number||Interval (m)||Gold Grade (g/t Au)||Silver Grade (g/t Ag)||Comments|
|Tr LB01||39.04||1.00||1.8||Open; last sample 0.3 g/t Au|
|Tr LB02||32.03||0.74||0.9||Open; last sample 0.42 g/t Au|
|Tr LB03||51.31||1.06||3.1||Open; first sample 0.43 g/t Au, last sample 0.27 g/t Au|
|Tr LB04||19.11||0.54||1.6||Open; first sample 0.24 g/t Au|
|Tr LB05||12.31||0.86||1.2||Open at northern end; last sample 1.3g/t Au|
|2||2.10||0.8||open at both ends; single sample 1.0 g/t Au|
|9.16||0.92||2.4||Open at southern end; last sample 1.7g/t Au|
|Tr LB06||30.03||3.60||1.5||Open; last sample 1.18g/t Au|
|Tr LB07||11.57||1.79||0.5||Open at southern end; last sample 11.9g/t Au|
|Tr LB08||8.9||6.06||1.6||open at both ends; end samples 1.3g/t Au and 7.4g/t Au|
|Tr LB09||no significant intersections|
Intervals shown in bold relate to the latest set of results; see Cornerstone News Release dated September 25, 2017 for further detail on the first set of results from trenches 1-4, & 6.
The surface trench results are significant because they follow a partially outcropping epithermal system which then continues under cover (scree on the slopes of hills). The trench data, soil data, surface mapping, and a planned detailed heli-magnetic geophysical survey to be conducted in November and December will provide all required datasets for drill targeting.
The final batch of assays from the completed trenching program at West Zone are expected in late October and all data from this prospect will be summarized at that time and reported.
A drilling permit is required prior to commencement of drilling. The permit application process requires community consultation of the drilling program with local communities, authorities and landowner groups, and receipt of a water use permit. The water use permit application has been submitted to the water agency SENAGUA (Secretaria Nacional del Agua)and technically pre-qualified. Cornerstone is managing this process and has previously implemented the same procedure at its other exploration properties in Ecuador over the past 10 years. The target for receiving a drill permit by the end of 2017 remains in place.
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
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).
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 well-funded mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, and a proven ability to identify, acquire and advance properties of merit.
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 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 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,
Hugh Brooke Macdonald
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.