By Kalwinder KaurSep 18 2012
Cornerstone Capital Resources has provided details on exploration works carried out at the Cascabel copper-gold porphyry project located in Ecuador. SolGold has optioned the 5,000 ha project.
The Quebrada Moran and Quebrada Alpala areas defining the 2 km x 1 km porphyry gold-copper target. Also shown are the channel sampling assay results completed to date at both areas.
The company has spent $7.8 million in more than 4 years to earn a 65% preliminary interest in the porphyry project. The exploration campaign is directed and implemented by SolGold and Cornerstone, respectively.
New stream sediment, representative channel and rock chip sampling, along with geological mapping program have discovered three outcropping copper-gold porphyry mineralization areas. Two key areas have been found at Quebrada Alpala and Quebrada Moran. These regions are located 1.5 km apart and are inferred to indicate a single huge copper-gold porphyry system.
Anomalous values of copper and gold, including up to 1.62% copper and 1.84 g/t gold in an altered porphyry copper-gold, high-potential potassic zone, have been encountered through representative rock chip sampling at Moran. Channel sampling has been conducted in a 200 m creek bank outcrop.
Reconnaissance geological mapping together with rock sampling and stream sediment has been finished on about 85% of the project. The stream sediment survey has specifically outlined a wide copper-gold anomalous region that measures over 15 km² in the property’s central part. During the exploration campaign, 338 representative chip samples from outcrops have been compiled, in which 149 samples yielded anomalous gold and 26 samples graded over 1,000 ppb gold.
An orientation soil geochemistry survey was performed to outline the size fraction and soil horizon providing the geochemical response. On the whole, 72 locations were specifically sampled over three lines oriented towards northeast that enclose volcanic host rocks and the mineralized and altered porphyry system. Present exploration program comprises comprehensive geological mapping, current channel sampling, complete radiometric and heli-magnetic survey and systematic soil sampling over huge exploration concession.
All exploration works are targeted to provide drill target areas at the earliest. Exploration has discovered mineralized copper and gold related to potassic alteration typical of copper-gold porphyry systems. Magnetite and mineralized chalcopyrite have a direct association. This will give a strong base for three dimensional analysis of the target from a comprehensive heli-magnetic survey. These results may become available by next month.
Source: http://www.cornerstoneresources.com/
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