Sep 14 2020
Cornerstone Capital Resources Inc. offers an update on its Bramaderos gold and copper joint venture located in southern Ecuador, where it has a stake of 12.5% carried by project operator and joint venture partner, Sunstone Metals Inc., through to the beginning of commercial production.
- Drilling has begun at the Espiritu gold-silver target located at Bramaderos
- The initial hole will test the extent of depth of the gold-silver polymetallic system, which assayed:
- In-surface rock chip samples, 11.9 g/t gold and 175 g/t silver, 4.2 g/t gold and 101 g/t silver, and 11.6 g/t gold and 2,962 g/t silver
- In-trench channel samples: 21 m at 1.4% zinc, 0.3 g/t gold, 82.4 g/t silver, 1.2% lead, such as 4 m at 0.9 g/t gold, 1.4% zinc, 415 g/t silver, 6% lead, and 6.9% zinc
- Espiritu is the initial target of many that Cornerstone Capital Resources and Sunstone have planned to follow up in the present drill campaign at Bramaderos
- Soil sampling results at the E-11 gold-silver target at Bramaderos have defined a coherent gold-silver-zinc anomaly quantifying 300 m x 100 m
Sunstone has also initiated a 2000 m drilling program at the Espiritu gold-silver and Brama targets inside its Bramaderos project located in southern Ecuador.
At the Espiritu gold-silver target, the first five-hole, 600 m program has been developed to test the extent of depth of high-grade trench and rock chip samples and is anticipated to be finished in early October with assay outcomes anticipated in mid-October.
Besides the preparation for drilling in the past few months, exploration groups have been progressing work on Espiritu as well as on other Espiritu-style targets that are situated around the porphyry systems at Bramaderos.
In-fill soil sampling and geological mapping have been finished at Espiritu and are well advanced at Espiritu Norte, E3, and E1. Analogous programs will be performed in the coming months in other regions, including E2, E10, and E11.
At E-1, in-fill soil sampling has delineated a coherent gold-silver-zinc multi-element anomaly across 300 m x 100 m. Historic rock chip results obtained from E-1 detected regions of extremely anomalous gold and silver in bedrock (up to 271.5 g/t Ag and 32.5 g/t Au). At E-1, restricted historical drilling is believed to have been ineffective since it was orientated parallel to the interpreted mineralized structures, rather than drilling throughout the structures.
At Espiritu, if drilling turns out to be successful, a pipeline of analogous targets will be progressed to the drilling stage across the coming months. These may comprise additional gold-silver geochemical targets in the southern section of the concession at E5, E6, E7, E8, and E9.
The Bramaderos project measures 4,948 ha and is situated around 130 km from the Loja provincial capital in southern Ecuador. The Bramaderos project can be easily accessed through the Pan American Highway crossing the property.
The Bramaderos concession is held by La Plata Minerales S.A. (PLAMIN), which, in turn, is owned 12.5% by Cornerstone Capital Resources and 87.5% by Sunstone (the operator of the project).
The 12.5% interest of Cornerstone Capital Resources is carried by Sunstone through to the beginning of commercial production and refundable at Libor plus 2% out of 90% of Cornerstone’s share of dividends or earnings from the Bramaderos project.