MOUNT PEARL, NEWFOUNDLAND — (Marketwired) — 10/02/14 — Cornerstone Capital Resources Inc. („Cornerstone“ or „the Company“) (TSX VENTURE: CGP)(OTCBB: CTNXF)(FRANKFURT: GWN)(BERLIN: GWN) announced today the following exploration results for the Company–s 100% owned Bella Maria gold-copper porphyry exploration project in southern Ecuador.
HIGHLIGHTS:
Brooke Macdonald, CEO of Cornerstone, stated „Exploration results from the recent field work on the Bella Maria property confirm the potential of the property to host significant porphyry and breccia-related gold-copper mineralization. Systematic geochemical sampling and geological mapping have better defined and expanded precious and base metals anomalous zones and have allowed us to refine the mineralization model. No drilling has ever been done on this property. These encouraging results should allow Cornerstone to attract a solid partner to drill test the targets.“
References to figures and photographs related to the version of this release on the Company–s website () or visible in PDF format by clicking the link below:
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Bella Maria property
The 1,401-hectare Bella Maria property is located in southwestern Ecuador, in El Oro province along the western foothills of the Andes, some 30 km southeast of the port city of Machala at elevations ranging from 100 m to 800 metres above sea level (masl). Access is good via paved roads from either Guayaquil, a major port city located approximately 200 km by road to the northwest of the property, or from Cuenca to the northeast and then by a gravel road crossing the central part of the property. The area is characterized by tropical climate and vegetation. Bella Maria is adjacent to the Greater Cangrejos property of Odin Mining.
Regional Geology
The project area is underlain by Paleozoic age metamorphic rocks including quartz-biotite orthogneisses, quartz-biotite schists and chlorite schists (La Victoria Formation) which form part of the El Oro Metamorphic Complex. The metamorphic rocks are intruded by Tertiary age granodiorite (Biron Batholith) and quartz diorite. The Oligocene age Saraguro Formation (andesitic to rhyolitic flows and pyroclatics) lies to the east and southeast.
The Bella Maria property is located in the southern part of a NNE oriented Late Oligocene – Early Miocene Porphyry Belt hosting the Gaby-Papa Grande (NI 43-101 compliant resource of 308 Mt at 0.63 g/t Au) and Cangrejos porphyry systems. Within this belt some intrusive complexes host low-grade gold-copper (typically less than 1 g/t Au and less than 0.5% Cu) mineralization. Higher-grade gold-copper mineralization occurs in hydrothermal breccias adjacent to porphyry bodies and located along and/or at the intersection of district scale structures. Epi-mesothermal gold deposits (Bella Rica, San Gerardo and several other small prospects) in the region are commonly associated with the porphyry systems. A total of 69.000 ounces of gold has been recovered by Odin Mining and Exploration Ltd („Odin“) from its Biron alluvial gold mine located 10 km SW of Bella Maria. The San Agustin alluvial deposit lie 1 km north of the property.
Property history and compilation work
The Bella Maria concession was acquired by Sierra Minera S.A. („Sierramin“) in 1999. During the following two years, Sierramin carried out geological mapping and geochemical surveys – Heavy Mineral Concentrates (HMCs) and Bulk Leachable Extractable Gold (BLEG) – in most streams of the property, soil sampling on two small grids and rock sampling. These early surveys yielded to the discovery of the Las Pavas Breccia (LPB) and Central Breccia (CB) prospects. The property was optioned to Bear Creek Mining Corporation („Bear Creek“) in 2004. Survey work completed during 2004 and 2005 describes structurally controlled quartz-tourmaline-pyrite breccias with the development of silica flooding, potassic and sericitic alteration and quartz veinlets.
The concession was acquired by Cornerstone in late 2005 which carried only sporadic exploration programs prior to the April 2008 Mining Mandate (Moratorium) in Ecuador. Cornerstone carried out some more prospecting work in 2011. Results of these programs were released on May 11, 2012. During the period June to August 2014, a systematic exploration program was implemented over the entire property, including geological mapping, soil geochemical sampling (500 samples) and rock sampling (75 chip and channel samples).
From 1999 to 2014 a total of 2146 samples (642 rocks, 124 soils, 49 stream sediments, 66 BLEGs and 155 HMCs) have been collected on the property and incorporated in the database.
Property geology and mineralization
Geological mapping and data compilation from previous surveys indicate that the property is located within the northern contact zone between the Biron Batholith to the south and Paleozoic age, basement rocks part of the El Oro Metamorphic Complex.
This contact zone is characterized by multiphase intrusions varying from granitic to dioritic in composition intruding metasedimentary and metavolcanic rock units (schist, gneiss and orthogneiss). Metamorphic foliation generally strikes NW-SE (N300 degrees E) and systematically dip 55 degrees to 60 degrees to the north.
Faults, fractures and magnetic lineaments from airborne magnetic surveys generally strike NNE to NE with a secondary, less developed set to the NW. Minor fractures and mineralized veinlets systems associated to intrusives and breccias are generally NNE oriented (N01 degrees E to N25 degrees E). District scale circular features evident in topographic maps and magnetic survey suggest that the Bella Maria property could possibly be located on the northeastern edge of a 15 to 17 km wide collapsed caldera which center would be Cangrejos intrusive complex to the SW.
District scale geological mapping and aerial geophysical data suggests that the mineralization patterns relates to underlying NE trending structures. Three types of mineralization have been outlined on the Bella Maria property: lower grade gold-copper-molybdenum porphyry style mineralization associated to quartz veinlets stockworks; higher grade, gold-copper mineralization associated to breccias; and, mesothermal quartz-tourmaline-gold-arsenic veins. Breccias are commonly associated to and controlled by faults and regional structures. Porphyry and breccia types of mineralization are located in the NE extension of and are very similar to significant gold-copper mineralization discovered by Newmont Exploration („Newmont“) and Odin on their Cangrejos property bordering the Bella Maria property to the south. Hole C99-14 by Newmont intersected 204m grading 1.6 g/t Au from surface at the Trinchera-Paloma target.
The Bella Maria concession is characterized by exceptionally anomalous gold in stream sediments draining the property as shown on accompanying figures.
The soil sampling program (100m by 100m and 50m by 50m centers) carried out over the years defined an extensive (3 by 2 km) and coincident gold-copper +/- molybdenum anomaly located in the central part of the property.
A total of seven mineralized prospects/areas have been identified on the Bella Maria property and area briefly described below (refer to may 11, 2012 news release for a detailed description of the prospects and assay results from these prospects). Three of them have been discovered in the recent field program.
Future exploration programs
Detailed exploration programs, including geological mapping, ground magnetic survey (40 km), Induced Polarization (IP, 25 Km) and trenching on high priority target areas located in the central part of the property are recommended to define specific drill targets.
Assaying, Quality assurance / Quality control (QA/QC)
All samples collected by Cornerstone were delivered to and prepared by the ACME preparation laboratory in Cuenca and assayed by the ACME-Vancouver laboratory () using the following procedures:
Rock samples: Two preparation schemes were used for rocks at Bella Maria: 1) ACME preparation code R150 (crush 1 kg to 80% passing 10 mesh, spilt 250 g and pulverize to 85% passing 150 mesh); assayed for gold and 2) ACME preparation code R200-250 crush 1 kg to 80% passing 10 mesh, spilt 250 g and pulverize to 85% passing 200 mesh), assayed for gold and multi-elements (ACME code 1DX2, Aqua Regia, ICP-MS finish, 15 g.) and (AC code G601, F.A., 30 g., AA finish) in some cases. Over limits results for gold were systematically re-assayed (ACME code G601; F.A., 30g.; AA finish).
Stream sediment samples: ACME preparation code SS80, assayed for gold (ACME code 3B01, F.A., 30 g.) and multi-elements (ACME code 1DX2, Aqua Regia, ICP-MS finish, 15 g.).
Soil samples: ACME preparation code SS80, assayed for gold and multi-elements (ACME code 1DX2, Aqua Regia, ICP-MS finish, 15 g.). Limited technical information is available from the early soil sampling by Sierramin with regards to sample preparation and assaying techniques used by the laboratory. Samples appear to have been assayed for gold (F.a., 30 g.) and an ICP suite of elements.
ACME is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Certified blanks and standards are systematically inserted with samples as part of Cornerstone–s QA/QC program. Rejects and a 100 g pulp for each rock sample are stored for future use and controls at Cornerstone–s warehouse facility in Cuenca.
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 Bella Maria project for Cornerstone and has reviewed and approved the information contained in this news release.
About Cornerstone:
Cornerstone Capital Resources Inc. is a well-funded mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Ecuador and Chile, and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company–s business model is based on generating exploration projects whose subsequent development is funded primarily through partnerships. Commitments from partners constitute significant validation of the strength of Cornerstone–s projects.
Further information is available on Cornerstone–s website: and on Twitter.
Cautionary Notice:
This news release may contain –Forward-Looking Statements– that involve risks and uncertainties, such as statements of Cornerstone–s plans, objectives, strategies, intentions and expectations. The words „potential,“ „anticipate,“ „forecast,“ „believe,“ „estimate,“ „expect,“ „may,“ „project,“ „plan,“ 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 . 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 subsequent to 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.
Contacts: For investor, corporate or media inquiries: Investor Relations North America toll-free: 1 (877) 277-8377
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