Rock chip samples of up to 11g/t gold highlight the prospectivity
OTTAWA, Jan. 22, 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, 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:
- Exploration for epithermal gold in the western portion of the Bramaderos concession in Ecuador is generating promising results
- Trenching over the Bramaderos Vein has returned up to 2.1g/t gold and 7.7g/t silver
- Rock chip samples from the El Espiritu epithermal target have returned up to 11.63 g/t gold and up to 38.62 g/t silver
- Exploration at the West Zone epithermal target has resulted in improved interpretation of the geology of the epithermal belt
- The epithermal gold belt is an extension of the producing Dynasty Goldfield located ~5km to the south-west, and within the Bramaderos concession includes multiple targets representing significant exploration potential
- Ten targets have been defined based on soil geochemistry, rock chip sampling, geological mapping, alteration mineral mapping and regional structural analysis, and a ground magnetic survey is in progress to further refine target definition prior to drill testing
The ten targets are all located within the Bramaderos epithermal gold belt (Figures 1 and 2), which is on trend of the north-east extension of the gold producing Dynasty Goldfield located 5km to the south-west (held by TSXV listed Core Gold Inc).
They include the Bramaderos Vein, where recent trenching returned results of up to 2.1g/t gold and 7.7g/t silver over 0.9m and where historical rock chip sampling returned up to 32.5g/t gold.
Other areas of gold mineralization in rock chip samples include El Espiritu, where there is an extensive pathfinder element signature in soil samples. Gold values include 11.63 g/t, 3.70 g/t, 1.80 g/t and 1.615 g/t and silver values include 38.62 g/t, 26.67 g/t, 15.68 g/t and 10.84 g/t. These mineralized samples were collected from barite-bearing ferruginous quartz veins in gullies located approximately 700m northeast of Bramaderos Hill, within two of the ten defined epithermal targets along the epithermal target belt.
A trenching program is being designed to test this area in a more systematic fashion. A rock chip-sampling program is also being designed to cover 5 of the epithermal targets that have strong pathfinder element signatures in soils but are yet to be surface sampled by rock-chipping.
Drilling at West Zone identified anomalous epithermal gold values, but on re-interpretation did not test the revised target zones.
The main target zone at West Zone is now interpreted to be limited to the North Breccia Pod area as a structurally-constrained zone plunging to the east or north-east (Figure 3).
QAQC (quality assurance/quality control) review and petrography have been completed. The petrography confirms that some of the very high-grade surface gold values in trenches is due to supergene enrichment with a vertical extent of meters.
Cornerstone VP Exploration, Yvan Crepeau, said:
“We are seeing a lot of evidence of epithermal style mineralization within the belt and we know that this area is the north-east extension of the gold producing Dynasty Goldfield."
“We are very bullish about the targets that have been defined to date along this trend, and we plan to move those to drilling status as soon as possible.”
“We have developed an improved interpretation of the West Zone target. Supergene gold enrichment, demonstrated at West Zone, may represent an opportunity within the belt.”
Table 1: Anomalous Assays from West Zone drilling
|Hole ID||From||To|| |
Table 2: Drill hole details for the West Zone target.
|Drill Hole |
|Start date||Completion |
|Azimuth (PSAD56 |
|Total meters drilled||1208.89|
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
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