Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces the following project update for the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15% interest financed through to completion of a feasibility study. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.
Figures, table and photographs referred to in 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:
- Drill Hole CSD-16-019 ("Hole 19") intersects 835m of copper mineralization (estimated true width(1) of 560m) from 325.6m to current depth 1161.50m, including a more intensely mineralized section from 545.9m.
- Bornite (a copper rich sulphide mineral containing 63% copper) and molybdenite are present in the mineralized section of Hole 19.
- Bornite mineralization mapped at surface, and in Hole 19 to date, support the existence of Hematite Hill, Alpala Southeast, and Cristal as high priority targets over 750m of strike extension southeast of Alpala Central.
- Preparations for drill rigs 4 and 5 continue ahead of drill testing the zone southeast of Alpala.
- Hole 18 encountered intense veining and mineralization over 665m from 903.9m to 1568.9m, and continues at 2144.8m depth, testing the lower levels and southwestern side of the Alpala system.
- Hole 20R entered brecciated (fragmented) porphyry style copper mineralization at 905.4m, approximately 200m higher than predicted, supporting the existence of widening and shallowing of the mineralized zone on the east and northeast sides of Alpala Central. Mineralization continues to current depth of 1050.0m.
(1) Estimates have been made in defining true widths due to insufficient drilling in the outer limits of the currently known extension of the Alpala deposit and drill results not having yet been assayed and interpreted. These estimates may change as more drilling is completed and results continue to be processed.