CGP high grade in Ecuador
Cornerstone Capital, Coastport grade La Plata samples
2006-05-23 14:45 ET - News Release
Also News Release (C-CPP) Coastport Capital Inc
Mr. Glen McKay of Cornerstone reports
CORNERSTONE AND COASTPORT INTERSECT MASSIVE SULPHIDES ASSAYING 29.0 G/T GOLD, 289.4 G/T SILVER, 17.3% ZINC AND 5.9% COPPER OVER 8.9 M
Cornerstone Capital Resources Inc. and Coastport Capital Inc. have intersected high-grade massive sulphides during phase I diamond drilling on the La Plata polymetallic volcanogenic massive sulphide (VMS) project located 60 kilometres west of Quito, Ecuador. Preliminary results from drill holes LP-06-01 and LP-06-02, drilled to test the south-southwest extension of the La Mina deposit, within the La Plata prospect, are presented herein.
LP-06-01 intersected 8.9 metres of massive baritic sulphide consisting of sphalerite, chalcopyrite, barite and pyrite with subordinate bornite-chalcocite-covellite. Coarse visible gold is observed in several samples. The massive sulphides averaged 28.95 grams per tonne gold, 289.39 g/t silver, 17.32 per cent zinc, 5.86 per cent copper and 1.20 per cent lead over an 8.9-metre core length, including 5.2 metres averaging 48.29 g/t Au, 243.47 g/t Ag, 16.15 per cent Zn, 4.88 per cent Cu and 1.07 per cent Pb. Please note that overlimit analyses for Au, Zn and Pb are pending for several samples which initially assayed over the analytical detection limits. The above averages have been calculated using 10 g/t Au for two overlimit samples