Cornerstone announces results of Trenching over Outcropping Porphyry Gold-Copper System at Bramaderos Main Target, southern Ecuador

 

OTTAWA, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announces trenching results at the  Bramaderos Main Target, at its Bramaderos Project in southern Ecuador (Figure 1).

The Bramaderos concession exploration targets, figures and tables referred to in this 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:

http://www.cornerstoneresources.com/i/pdf/NR17-48Figures.pdf.

Highlights:

• Strong phase 1 results received from trenching program at Bramaderos Main target. Results include:
  • 74.3m at 0.69g/t gold and 0.15% copper (0.94 g/t AuEq) in trench BM02;
    • including 51.1m at 0.81g/t gold and 0.18% copper (1.11 g/t AuEq).
• Historic drill hole CURI-03, drilled underneath trench BM02 and intersected
  • 248.1m at 0.56g/t gold and 0.14% copper (0.79 g/t AuEq)  (from 9.14m to end of hole and open)
    • Including
      • 62.0m at 1.00g/t gold and 0.22% copper (1.36 g/t AuEq) from 59m; and
      • 30.2m at 0.77g/t gold and 0.21% copper (1.12 g/t AuEq) from 227m to EOH.
      • Last 2.2m of hole intersected 0.93g/t gold and 0.22% copper (1.29 g/t AuEq).
• The trenching program is still in progress and is mapping zones of relatively more intense quartz stockwork. This will continue into January 2018

Cornerstone’s Vice President, Exploration, Yvan Crepeau, said: “These new trenching results highlight the prospectivity of the Bramaderos property. They correlate well with historic drilling, adding the third dimension to the mineralized system mapped at surface and to our understanding of the shape and controls of the gold-copper mineralization. Hole CURI 03 drilled on the same section intersected open-ended mineralization (30.2m @ 0.8 g/t Au and 0.2% Cu) and has never been followed up.  The trenching program is ongoing on the Main Target zone and is being extended to the Limon and Playas zones which have never been trenched or drill-tested.”

Further Information:

The current trenching phase, with initial results reported here, is for three trenches; BM01, 02 and 03. Trenches BM02 and BM03 have recently been extended to the west and these additional results are expected in January (Figure 2).

Trench BM02 has delivered 74.3m at 0.69g/t gold and 0.15% copper, including 51.1m at 0.81g/t gold and 0.18% copper.

Trench BM02 was positioned over the top of historical diamond drill hole CURI-03 so that a cross section could be constructed to start to develop a better understanding of the 3-dimensional geometry of mineralization at Bramaderos Main.

CURI-03 was drilled in 2001 by Ecuanor S.A. and intersected 248.1m at 0.56g/t gold and 0.14% copper from 9.14m to the end of hole. Mineralization at the end of the hole returned 0.93g/t gold and 0.22% copper over 2.2m (see Figure 3).

The trenching program is designed to map the porphyry gold-copper mineralization at surface. Trench locations were sited to cross areas of more intense quartz stockwork veining. They have successfully done that, and as a consequence, a phase 2 trenching program will be initiated with closer spaced trenches that will tighten up the definition of the mineralized zones. This will contribute to better defining drilling targets.

As stated previously, the trenching program delivers high quality continuous and non-biased samples, that can be considered equivalent to a drill hole sample. Consequently, the trenching data will be incorporated into future estimates of mineral resources. Channel sampling is done perpendicular to sheeted and stockwork quartz veining, controlling gold and copper mineralization.

See also:

Table 1: 2017 Trenches at Bramaderos Main gold-copper porphyry target

Table 2: Details of historical drill holes

About Bramaderos

The Bramaderos concession is owned by Cornerstone subsidiary La Plata Minerales S.A. (“PLAMIN”), which has signed a binding letter of intent with Sunstone Metals Ltd. (formerly Avalon Minerals Ltd.) (ASX:STM), whereby Sunstone has the right to earn a 51% interest in the project by spending US$3.4 million over 3 years to complete a phase 1 drill program. If this first option is earned, Sunstone can go to 70% by funding a bankable feasibility study, and can go to 80% by financing 100% of the cost of construction of a mine and mill (see news release 17-08 dated April 10, 2017).

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 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).

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.

About Cornerstone:

Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.

Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:

Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333

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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 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.

¹ Gold equivalent (AuEq) grades are calculated using a gold conversion factor of 1.67, determined using a gold price of USD1250/ounce and a copper price of USD3.00/pound and assuming 100% recoveries of gold and copper.