Cornerstone Capital Resources Inc.: Final Assay Results Lift MOUNT PEARL, NEWFOUNDLAND--(Marketwired - Oct. 16, 2013) - Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE:CGP) (OTCBB:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) announces that final assay results have been received for Drill Hole CSD-13-001 at the Cascabel copper-gold Project in northern Ecuador. The initial preliminary results were reported by Cornerstone on October 10, 2013.
Highlights:
-- Final assay results for copper--gold mineralisation in Drill Hole CSD--13--001 include -- 302m @ 0.39% copper and 0.48 g/t gold from 16m, including: -- 100m @ 0.65% copper and 1.0 g/t gold from 222m. -- Final result highlighted above represents a 14.7% increase in the copper grade across the 302m interval, with a 30% increase in the copper grade within the 100m high grade zone. -- High grade zone from 226m to 284m (58m) at 0.96% copper and 1.67 g/t gold. -- Mineralization styles indicative of potentially significant copper--gold porphyry system. -- Drill Hole CSD--13--002 assays for first 200 metres expected within 2 weeks. -- Drill Hole CSD--13--003 was at a depth of 450 metres on 15 October.
Drill Hole CSD--13--001 - Final Assay Results: Final assay results have now been received for hole CSD--13--001 and have resulted in the upgrade of four intervals (Table 1). The continuity of copper mineralization including the higher--grade zones is indicative of a well--mineralized and potentially large porphyry system.
Table 1 - Final assay results for CSD-13-001
Hole ID Depth From DepthTo Interval Cu_% Au_g/t Comment ----------- ---------- ------- -------- ---- ------ -------------------- Intersection CSD-13-001 16 318 302 0.39 0.48 upgraded ----------- ---------- ------- -------- ---- ------ -------------------- CSC-13-001 16 120 104 0.37 0.38 ----------- ---------- ------- -------- ---- ------ -------------------- Incls. 50 84 34 0.46 0.50 ----------- ---------- ------- -------- ---- ------ -------------------- Incls. 100 118 18 0.38 0.73 ----------- ---------- ------- -------- ---- ------ -------------------- CSD-13-001 128 160 32 0.17 0.09 ----------- ---------- ------- -------- ---- ------ -------------------- CSD-13-001 188 212 24 0.32 0.06 ----------- ---------- ------- -------- ---- ------ -------------------- Intersection CSD-13-001 222 322 100 0.65 1.00 upgraded ----------- ---------- ------- -------- ---- ------ -------------------- Intersection Incls. 226 284 58 0.96 1.67 upgraded ----------- ---------- ------- -------- ---- ------ -------------------- Intersection Incls. 232 248 16 1.87 3.25 upgraded ----------- ---------- ------- -------- ---- ------ --------------------
SolGold Plc holds a 50% interest, and can earn up to an 85% interest, in Exploraciones Novomining S.A. ("ENSA"), the Ecuadorian subsidiary of Cornerstone that holds 100% the Cascabel concession.
The Cascabel project is located in north-western Ecuador in an under-explored northern section of the richly endowed Andean Copper Belt, 60 km northeast of the undeveloped NI 43-101 compliant inferred resource of 982 million tonnes at 0.89% Cu Junin copper project.
The Alpala Prospect exhibits surface mineralization and alteration patterns indicative of porphyry copper-gold systems and has a similar footprint to large porphyry systems around the world.
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 Cascabel project and has reviewed and approved the information contained in this news release.
Logging, sampling and assaying
Hole CSD 13-001 was drilled using HTW core size (7.1 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD's), specific density and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified using an on-site portable spectrometer. Core is then sawed in half at Cornerstone's core logging facility and half of the core is delivered by Cornerstone employees for preparation at Acme Analytical Laboratories (ACME) affiliate laboratory in Cuenca. Core samples are prepared crushing 1 kg to 80% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 0.075 mm (200 mesh) (ACME code R200-250). Prepared samples are then shipped to ACME in Vancouver, Canada where samples are assayed for a multi-element suite (ACME code 1E, 0.25g split, 4-acid digestion, ICP-ES finish). Over limit results for Ag (> 100 g/t), Cu, Pb and Zn (each one > 1%) are systematically re-assayed (ACME code 7 TD1 or 7 TD2, 4-acid digestion, ICP-ES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA or ICP-ES finish (ACME code G601).
Quality assurance / Quality control (QA/QC)
The ACME affiliate preparation facility in Cuenca was audited by Cornerstone prior to the start of the drilling program and ACME is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 15 samples) as part of Cornerstone's QA/QC program. Rejects, a 100 g pulp for each core sample and the remaining half-core are stored for future use and controls.