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 Avalon Minerals Ltd. (ASX: AVI) whereby Avalon 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:
- The Bramaderos Main area has been the focus of geological mapping and rock chip sampling during July and August
- Key results from rock chip samples include:
- Multiple samples exceeding 0.5g/t Au and up to 1.82g/t, and
- Multiple samples exceeding 0.1% Cu
- Anomaly definition exceeding 500m strike length
- At the Limon area soil sampling is almost complete with results received for 40% of the survey area
- At the West Zone epithermal gold prospect, several trenches have been prepared and sampling is underway
- The drilling permit process is progressing on schedule and is expected to be complete towards the end of 2017
Exploration is advancing on three prospects -- Bramaderos Main, Limon and West Zone (figure 1).
At Bramaderos Main detailed geological mapping and rock chip sampling is well advanced and assay results have been received for many rock chip samples (figure 2).
The copper rock chip results show the most coherent distribution and anomalous results and cluster in an area along the inside curve of an historical IP chargeability anomaly (figure 2), consistent with the expected distribution within a porphyry gold-copper system. Gold is > 0.4 g/t over a strike length of greater than 500m at surface in the main recognized mineralized zone. Molybdenum broadly re-enforces the copper and gold patterns.
At the broader Limon Prospect, soil sampling is incomplete and assays have only been received for the southern part of the soil survey area south of the main Limon prospect. A subtle and loosely coincident copper-gold-molybdenum anomaly is emerging in soil samples (with some support locally in rock chip samples to the south) across a broad area from Limon back towards Bramaderos Main (figure 2).
At West Zone Prospect, several historical trenches, and new trenches have been prepared and systematic sampling is underway. This work is following up on historical trenching results that delivered 41.7m @ 3.37 g/t gold in trench WZTR-02 and 22m at 4.74g/t gold in trench WZTR-05.
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.
NOTE: The results reported are from grab samples from outcropping rocks collected over approximately one metre, and are not necessarily representative of the mineralization hosted on the property.