Caña Brava/Tioloma
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Caña Brava - Gold/Copper - (Cornerstone has the right to earn 100%)
On February 26, 2015, the Company announced results from prospecting and geological mapping surveys carried out during 2014 on the Caña Brava property located in south-central Ecuador. https://cornerstoneresources.com/news-releases/15-04-cornerstone-announces-exploration-results-for-the-cana-brava-property-ecuador/. The surveys identified (1) two significant porphyry Cu-Au targets well defined by coincident geological, geochemical and ground magnetic anomalies, (2) an intermediate sulphidation, higher grade, epithermal Au-Ag-Cu veins-breccia system mapped on the northern margin of the porphyry targets, and (3) a high sulphidation epithermal Au-Ag system recognized in the northeast corner of the property. Subsequently, a trenching program was completed (20 trenches, 599 metres, 301 channel samples), spectrometry (Terraspec) work carried out on soil samples (552), rock chips and channel samples (706) and a Phase 1 drill program has been prepared.In August 2021, data from the detailed ground magnetic survey was reprocessed using a 3D inversion modeling technique. Results show strong and extensive magnetic bodies coincident with altered and mineralized zones at surface. The geological model was then adjusted and the drill program refined. Caña Brava is “drill-ready” from a technical standpoint with well-defined drill targets, has a scout drilling permit and is in the process of obtaining a water use permit.
Cañabrava Mining S.A. (CBMSA) has the right to earn a 100% interest in the Caña Brava project from the original owner/underlying optionor in return for cash option payments of $40,000 every 6 months until CBMSA decides to exercise the option by making a final payment of $350,000. The $350,000 payment may be made early, the option exercised at any time, and the underlying NSR to the underlying optionor may be purchased for $150,000 at any time.
Tioloma – Gold/Copper (100% Cornerstone)
Cornerstone acquired the Tioloma property in March 2017 for strategic purposes; the property wraps around three sides of the Caña Brava property, thereby enlarging, and effectively creating a protective area of interest around, the Caña Brava property and on strike with a well-defined regional mineralized trend. Tioloma is at an earlier stage, but also has a permit for scout drilling. Reconnaissance geological mapping and systematic soil and rock sampling were carried out in 2021, defining anomalous areas for follow up. 695 soil and 111 rock samples were collected, covering about 40% of the property.