Espiritu drilling (Bramaderos project Ecuador) returns bonanza grades of 1.1m at 1064g/t silver, 0.2g/t gold, 5.5% zinc and 1.3% lead Pb, in one of multiple lodes
OTTAWA, Dec. 01, 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 joint venture in southern Ecuador in which it has a 12.5% interest carried by JV partner and project operator Sunstone Metals Inc. (ASX: STM) through to the start of commercial production (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:
https://cornerstoneresources.com/site/assets/files/5779/nr20-33figures.pdf.
HIGHLIGHTS:
- Drilling at the Espiritu gold-silver target at Bramaderos has intersected high grade silver with gold, zinc and lead within a polymetallic intermediate sulphidation epithermal system
- Drill hole ESDD005 intersected 3 significant lodes of silver-gold-lead-zinc mineralization, including:
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- From 145.8m to 148.2m: 2.4m at 104g/t silver, 0.7g/t gold, 3.4% zinc, 1.6% lead
- From 225.5m to 226.6m: 1.1m at 1068g/t silver, 0.2g/t gold, 5.5% zinc, 1.3% lead
- From 259.1m to 270.7m: 11.6m at 167g/t silver, 0.16 g/t gold, 2.1% zinc, 0.8% lead
- Results to date suggest the grade of the mineralization is increasing as drilling proceeds to the south, ESDD005 being the southern-most hole drilled so far
- This early success supports our view of the strong prospectivity of several other targets which have many geological similarities to Espiritu
- Drilling is ongoing at Espiritu with further assay results expected in December
FURTHER INFORMATION:
Assay results from the first five diamond drill holes have been received (See Table 1 below, and Table 2 in the Figures, also Figures 3-5).
The drill holes have tested the area below high-grade silver-gold-lead-zinc samples in trench and rock chip samples (see news release dated July 13, and September 11, 2020) and have intersected locally bonanza grades within multiple silver-gold-zinc-lead vein and breccia intervals.
Drilling to date has tested only to a depth of 145m below surface, and across a strike length of 180m, suggesting there is scope for a larger system based on surface anomalies defined to date. The early drilling results suggest the main mineralized systems may plunge. The structural geology is not yet well understood and will evolve with further drilling. Additional geophysics will be undertaken over the target to help guide future drilling.
Cornerstone Vice President, Exploration, Yvan Crepeau, said:
“These assay results are very encouraging. They demonstrate that bonanza precious metal and base metal grades occur within the Espiritu system across multiple lodes.
The Espiritu target has not been explored previously, nor has this style of mineralization been identified previously on the Bramaderos project, so it opens the project to some exciting upside potential, and our funding partner Sunstone plans to accelerate the exploration program.
Globally, silver-polymetallic systems similar to Espiritu can be very significant development opportunities. Many examples occur in Central and South America where mines typically produce concentrates of lead-zinc-silver and gold.
Multiple other targets exist within the Bramaderos concession (Figure 6) and these are being advanced during the current program. New areas of outcropping carbonate and barite alteration, with evidence of copper-lead-zinc mineralization have been identified and will be scheduled for further exploration and drilling.”
Table 1: details of assay results from drilling to date
| Drill Hole | From (m) | To (m) | Interval (m) | Gold (g/t) | Silver (g/t) | Lead (%) | Zinc (%) |
| ESDD001 | 95.3 | 99.3 | 4.0 | 0.29 | 14.9 | ||
| 98.3 | 99.3 (eoh) | 1.0 | 0.71 | 33 | |||
| ESDD002 | 29 | 36.6 | 7.6 | 0.21 | 9.1 | 1.1 | |
| includes | 31 | 35.6 | 4.6 | 0.28 | 11.3 | 0.1 | 1.7 |
| includes | 33.9 | 34.5 | 0.6 | 0.58 | 19 | 0.6 | 2.4 |
| ESDD003 | 83.8 | 92 | 8.2 | 0.21 | 13.1 | 0.1 | |
| 106 | 118 | 12 | 0.17 | 12.9 | 0.2 | ||
| 129.8 | 164.6 | 34.8 | 0.22 | 18.5 | |||
| includes | 134.2 | 134.5 | 0.3 | 0.35 | 605 | 0.26 | |
| and | 148.8 | 149.1 | 0.3 | 1.11 | 85.3 | 0.14 | |
| ESDD004 | 4.3 | 12.8 | 8.5 | 0.16 | 5.6 | ||
| 214.6 | 216.6 | 2.0 | 5.5 | 0.2 | 0.2 | ||
| ESDD005 | 86 | 99.1 | 13.1 | 0.14 | 15.1 | 0.2 | |
| 145.8 | 151.05 | 5.75 | 0.37 | 51.4 | 0.7 | 1.7 | |
| includes | 145.8 | 148.2 | 2.4 | 0.67 | 103.7 | 1.6 | 4.0 |
| 155.5 | 155.9 | 0.4 | 0.1 | 77.5 | 0.2 | 0.6 | |
| 172.55 | 172.85 | 0.3 | 0.1 | 11.2 | 0.3 | 1.6 | |
| 179.85 | 180.15 | 0.3 | 0.1 | 223.0 | 1.9 | 2.8 | |
| 193.2 | 193.55 | 0.35 | 0.26 | 174.0 | 1.0 | 2.1 | |
| 197.4 | 197.8 | 0.4 | 0.27 | 25.7 | 0.3 | 1.3 | |
| 199.3 | 201.65 | 2.85 | 10.7 | 0.1 | |||
| 204.4 | 206.33 | 1.93 | 17.5 | 0.2 | 0.2 | ||
| 210.9 | 213.5 | 2.6 | 0.14 | 23.1 | 0.3 | 0.2 | |
| 220.5 | 222 | 1.5 | 57.3 | 0.2 | 0.4 | ||
| 225.5 | 228.2 | 2.7 | 0.1 | 479.5 | 0.6 | 2.5 | |
| includes | 225.5 | 226.6 | 1.1 | 0.18 | 1068.6 | 1.3 | 5.5 |
| 234.5 | 237 | 2.5 | 0.16 | 13.4 | 0.1 | 0.3 | |
| 248.8 | 249.6 | 0.8 | 59.9 | 0.5 | 1.4 | ||
| 259.1 | 270.7 | 11.6 | 0.16 | 167.4 | 0.8 | 2.1 | |
| Includes | 263.1 | 266.2 | 3.1 | 0.4 | 150.1 | 1.6 | 4.5 |
Drilling of the Brama porphyry gold-copper system is scheduled to commence prior to the end of 2020 (see location of Brama on Figure 6).
About Bramaderos
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 that 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.
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
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.
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 northwest Ecuador. Cornerstone has a 21.4% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 7.5% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadoran company owned by SolGold 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.
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 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,
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.