Nov 27 2014
Cornerstone Capital Resources Inc. announces the following project update for the Company's Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador.
HIGHLIGHTS:
- Strong copper sulphide mineralization intersected from 565.80m to 848.78m in Hole CSD-14-009 ("Hole 9"), above the principal target
- Copper sulphide mineralization intersected over 491.05m from 452.45m to 943.55m depth (current hole depth), above the principal MVI magnetic target
- Assays for interval 450m to 810m expected in early to mid-December
- High grade mineralization targeting near the Alpala footwall structure a key priority
Commenting on today's update, Cornerstone's CEO, Brooke Macdonald, said: "We are pleased with the copper sulphide mineralization intersected in the upper part of Hole 9 and the planned deepening of this hole to test the possible lateral and depth extension of the high grade copper-gold zone intersected in Hole 5 at Alpala, the main target at Cascabel."
All reported intervals referred to in this news release are core lengths. At present the true thicknesses are uncertain due to the early stage of drilling.
References to figures, photographs and tables related to the version of this release on the Company's website (www.cornerstoneresources.com) or visible in PDF format by clicking the link below: http://www.cornerstoneresources.com/i/pdf/NR14-27Figures.pdf
FURTHER INFORMATION
Hole 9
Hole 9 is located 120m north of the Hole 5 drill pad and is being drilled with an 85-degree inclination towards 210 degrees UTM (Universal Transverse Mercator) (Figure 1). Hole 9 was sited to test for the northwest extension of the high-grade mineralization in Hole 5 and to test for vertical extension of the high grade copper and gold mineralization up to 500m below the high-grade Hole 5 intersection.
Drilling of Hole 9 commenced on October 28th. On November 23rd the hole was at 943.55 metres depth and located just above the principal magnetic target defined by Magnetic Vector Inversion (MVI) modelling.
Coarse-grained copper sulphide mineralization in Hole 9 occurs primarily within a diorite intrusion that has intense B-vein quartz stockworks and disseminations of primary and secondary magnetite. Locally the magnetite occurs in association with secondary biotite, a potassium-bearing mineral that confirms the presence of potassic alteration, a typically strongly mineralized zone in a porphyry system. Copper sulphide mineralization is dominated by chalcopyrite, along with some bornite and molybdenite. Figure 3 shows a cross-section through Holes 1, 2, 5, 8 and 9 at Alpala.
Hole 9 continues to intersect copper sulphide mineralization at the current depth of 943.55m.
Plates 1-11 show examples of the coarse grained chalcopyrite intersected in 'B-veins' and 'C-veins' from Hole 9.
Source: http://www.cornerstoneresources.com