Soil sampling at Limon porphyry gold-copper target defines two large anomalies, Bramaderos Project, Ecuador
OTTAWA, Ontario, Oct. 18, 2017 (GLOBE NEWSWIRE) — Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (CGP.V) (GWN.F) (GWN.F) (CTNXF) is pleased to announce further results from 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:
- First pass soil sampling at the Limon porphyry gold copper prospect has defined a gold-copper surface anomaly measuring 1300m x 800m and open to the north
- A second anomaly, not previously recognized, has been defined to the south, measures 600m x 500m and is open to the south
- The anomalies are classic porphyry signatures with overlapping gold-copper-molybdenum and a halo of zinc and lead
- The soil coverage will be extended to define the full extent of the anomalies
- The larger soil anomaly covers small outcrops of intense network and sheeted veins, and rock chip samples with up to 1.2g/t gold and 0.4% copper (see Figure 1)
- Drilling permits are expected to be received by the end of this calendar year and Limon will be included in the drill targets
The main anomaly measures 1300m x 800m, is open to the north, and is defined by overlapping gold and copper anomalism, with zinc and lead anomalism as a halo – a pattern typical of zonation within porphyry systems.
A second anomaly measuring 600m x 500m has been defined in the southern part of the soil grid. It is open to the south, and is defined by a tight coherent zone of coincident gold, copper and molybdenum anomalism, and again a zinc and lead halo.
The Limon area has never been drilled and represents a prime target for drilling once the drilling permit is received – which is expected prior to the end of the year.
Discussion of Soil Sampling Results
Soil sampling was undertaken on a 100m x 50m grid orientated along NW trending lines. Samples were collected from the ‘C horizon’ which is the horizon within the soil profile of degraded bedrock beneath surface organic material and loose soil.
Geological mapping at Limon has identified a ‘leached cap’ which is expected to modify the surface geochemical signature. Furthermore, there is evidence of a possible overprinting epithermal system on the stockwork veined porphyry which may also modify the geochemical signature. The outcrop pattern comprises small areas of leached and weathered rock outcrop within a broader soil blanket. The local areas of outcrop display strong veining, some secondary copper mineralization, and intense altered, veined and brecciated silicified rock – all features that are expected in a porphyry gold-copper environment.
Rock chip samples from outcrops in the area have returned elevated copper and gold of up to 1.2g/t Au and 0.4%Cu (see Figure 1).
Soil samples have also been collected for analysis of mineral alteration by spectrometry and these results will be incorporated with the geochemistry to deliver target areas for first pass drilling.
Interpretation of structures, and potentially of intrusive phases, will be undertaken from detailed helicopter magnetic data which is due for collection in the next month.
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 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 during 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 and soil 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 a significant interest in the Cascabel gold enriched copper porphyry project in 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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On Behalf of the Board,
Hugh Brooke Macdonald
President and CEO
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