Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% interest in the exciting Cascabel copper-gold discovery in Ecuador financed through to a bankable feasibility study.

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Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% int......

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8020 Admin

5 hours ago

8020 Admin posted a press release Ten priority epithermal gold targets identified for follow-up at Bramaderos in CORNERSTONE CAPITAL RESOURCES INC.

Rock chip samples of up to 11g/t gold highlight the prospectivity


OTTAWA, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures related to 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: 


http://www.cornerstoneresources.com/i/pdf/NR20-03Figures.pdf.


HIGHLIGHTS:



  • Exploration for epithermal gold in the western portion of the Bramaderos concession in Ecuador is generating promising results
     

  • Trenching over the Bramaderos Vein has returned up to 2.1g/t gold and 7.7g/t silver
     

  • Rock chip samples from the El Espiritu epithermal target have returned up to 11.63 g/t gold and up to 38.62 g/t silver
     

  • Exploration at the West Zone epithermal target has resulted in improved interpretation of the geology of the epithermal belt
     

  • The epithermal gold belt is an extension of the producing Dynasty Goldfield located ~5km to the south-west, and within the Bramaderos concession includes multiple targets representing significant exploration potential
     

  • Ten targets have been defined based on soil geochemistry, rock chip sampling, geological mapping, alteration mineral mapping and regional structural analysis, and a ground magnetic survey is in progress to further refine target definition prior to drill testing


FURTHER INFORMATION:


The ten targets are all located within the Bramaderos epithermal gold belt (Figures 1 and 2), which is on trend of the north-east extension of the gold producing Dynasty Goldfield located 5km to the south-west (held by TSXV listed Core Gold Inc).


They include the Bramaderos Vein, where recent trenching returned results of up to 2.1g/t gold and 7.7g/t silver over 0.9m and where historical rock chip sampling returned up to 32.5g/t gold.


Other areas of gold mineralization in rock chip samples include El Espiritu, where there is an extensive pathfinder element signature in soil samples. Gold values include 11.63 g/t, 3.70 g/t, 1.80 g/t and 1.615 g/t and silver values include 38.62 g/t, 26.67 g/t, 15.68 g/t and 10.84 g/t. These mineralized samples were collected from barite-bearing ferruginous quartz veins in gullies located approximately 700m northeast of Bramaderos Hill, within two of the ten defined epithermal targets along the epithermal target belt.


A trenching program is being designed to test this area in a more systematic fashion. A rock chip-sampling program is also being designed to cover 5 of the epithermal targets that have strong pathfinder element signatures in soils but are yet to be surface sampled by rock-chipping.


Drilling at West Zone identified anomalous epithermal gold values, but on re-interpretation did not test the revised target zones.


The main target zone at West Zone is now interpreted to be limited to the North Breccia Pod area as a structurally-constrained zone plunging to the east or north-east (Figure 3).


QAQC (quality assurance/quality control) review and petrography have been completed. The petrography confirms that some of the very high-grade surface gold values in trenches is due to supergene enrichment with a vertical extent of meters.


Cornerstone VP Exploration, Yvan Crepeau, said:


“We are seeing a lot of evidence of epithermal style mineralization within the belt and we know that this area is the north-east extension of the gold producing Dynasty Goldfield."


“We are very bullish about the targets that have been defined to date along this trend, and we plan to move those to drilling status as soon as possible.”


“We have developed an improved interpretation of the West Zone target. Supergene gold enrichment, demonstrated at West Zone, may represent an opportunity within the belt.”


Table 1: Anomalous Assays from West Zone drilling



Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=7218499609659920 

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8020 Admin

1 day ago

8020 Admin posted a press release Bramaderos Main Assays Extend Strike Length of Mineralization to 650m in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador (Figure 1), which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures related to 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:


http://www.cornerstoneresources.com/i/pdf/NR20-02Figures.pdf.


HIGHLIGHTS:



  • Assays from drill holes BMDD004, BMDD005, and BMDD006 extend the known mineralization at the Bramaderos Main gold-copper deposit
     

  • Intervals include:


° 127m (true width1 “tw” 89m) at 0.57g/t gold and 0.1% copper from 216.8m in BMDD005, including


· 39m (tw 27m) at 0.72g/t gold and 0.13% copper from 295m


° 46.2m  (tw 32m) at 0.45g/t gold and 0.18% copper from 15m, and 72.5m (tw 51m) at 0.42g/t gold and 0.12% copper from 319.15m in BMDD006



  • BMDD005 extends the known mineralization 150m northwest of BMDD001 which intersected 172m (tw 120m) at 0.52g/t gold and 0.16% copper from surface
     

  • BMDD006 extends mineralization a further 360m to the north-west of BMDD005
     

  • BMDD004 defined the east margin of the system in the vicinity of BMDD001
     

  • BMDD007 which is in progress has intersected zones of quartz veining and visible chalcopyrite
     

  • The strike extent of mineralization outlined from BMDD002 to BMDD006 is now 640m and reflects the surface trench which intersected 615m (tw 430m) at 0.52g/t gold and 0.11% copper.
     

  • The total strike extent of the mineralization from BMDD002 to BMDD007 is now more than 1km
     

  • Mineralization remains open to the northwest and southeast


FURTHER INFORMATION:


At the Bramaderos Main target, assay results from drill holes BMDD004, BMDD005, and BMDD006 have been received. All holes have intersected intervals of gold and copper.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=6802597460873225 

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8020 Admin

15 days ago

8020 Admin posted a press release Bramaderos Farm-in Terms Amended in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that it has amended the terms of its farm-in arrangement with ASX listed Sunstone Metals Inc., to provide Cornerstone with a 12.5% interest carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone’s share of earnings or dividends from the Bramaderos project.


Cornerstone CEO, Brooke Macdonald, said:


“This amendment is a win-win for Cornerstone and Sunstone, relieving Sunstone of fixed obligations to earn an additional interest above its current 51% interest, and relieving Cornerstone of the obligation to fund 49% of the current drilling and future work programs for  feasibility studies and construction or suffer dilution of its interest. We are a prospect generator following the farm-in/joint venture model, and funding expensive drilling would be inconsistent with that business model. We are confident that Sunstone will advance Bramaderos as quickly as it can, and if there is a significant discovery there we will be carried through feasibility and construction until the start of commercial production with our 12.5% carried interest repayable at a low interest rate from a portion of our share of earnings from the project.


“Cornerstone and Sunstone remain very optimistic of the likelihood of a discovery at Bramaderos and our focus on porphyry gold-copper targets has delivered promising results from the Bramaderos Main and Limon targets. We still have other targets including Porotillo, Gangue, and Playas to drill test, and we are advancing our epithermal gold exploration targets in the western portion of the project.’’


About Bramaderos


Measuring 4,948 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway which crosses the property.


The Bramaderos concession is owned by La Plata Minerales S.A. (“PLAMIN”), which in turn is owned 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone.


More information about the property can be found at www.cornerstoneresources.com.


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 Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including a minority interest in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations: Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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 www.sedar.com.  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 after 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.


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8020 Admin

1 month ago

8020 Admin posted a press release Cornerstone Closes Debt Settlement in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has closed its debt settlement transaction announced on December 9, 2019. Pursuant to the debt settlement transaction, Cornerstone has issued 283,920 common shares of the Company at a deemed price of C$2.37 in settlement of C$672,890.52 of debt.


The shares issued pursuant to the transaction have a hold period expiring on April 17, 2020.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


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.


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MI3 Technical Note

CORNERSTONE CAPITAL RESOURCES (CGP – TSX.V) $2.50


insert_drive_fileTechnical-Note-December-11-2019.pdf
Thumb technical note december 11 2019

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8020 Admin

1 month ago

8020 Admin posted a press release Cornerstone to Settle Outstanding Indebtedness in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has agreed to settle C$672,890.52 of debt owing to legal advisors to the Company by issuing 283,920 common shares in the capital of the Company at a deemed price of C$2.37 per common share. The debt settlement transaction is subject to the approval of the TSX Venture Exchange and all common shares issued pursuant to the debt settlement transaction will be subject to a four-month statutory hold period.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


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.


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8020 Admin

2 months ago

8020 Admin posted a press release Update on Investment for Accounting Purposes in Cascabel in CORNERSTONE CAPITAL RESOURCES INC.


OTTOWA, Nov. 22, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces that on November 21, 2019, it received an updated valuation report on the estimated fair market value for accounting purposes of its investment in Exploraciones Novomining S.A. (“ENSA”). ENSA is an Ecuadorean company owned by SolGold Plc and Cornerstone, that holds 100% of the Cascabel concession.


The periodic valuation of the investment is required by International Financial Reporting Standards (IFRS). The Company engaged a valuation firm to assist in the reevaluation of that investment after receipt of the National Instrument 43-101 technical report on the Alpala Deposit filed on Sedar on January 3, 2019 as a result of the November 20, 2018 disclosure of the updated mineral resource estimate for the Alpala deposit. The Company engaged the same valuation firm, received the updated valuation report and management selected what it believes is a conservative valuation of ENSA within the range provided in the report. The estimated fair value of the Company's long-term investment in ENSA for financial statement reporting purposes as at September 30, 2019 is $69,700,000.


The value has fluctuated over time, in line with the change in many variables, including the market value of SolGold shares.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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 www.sedar.com.  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 after 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.


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8020 Admin

2 months ago

8020 Admin posted a press release Cornerstone Files Amended Technical Report for Cascabel (Alpala Deposit) Preliminary Economic Assessment in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces that as a result of a review by staff of the Ontario Securities Commission (“OSC”) the Company is issuing the following news release regarding its technical disclosure made with respect to the Alpala Project in Ecuador.


Specifically, with regards to the Technical Report titled “Cascabel Project, Northern Ecuador, Alpala Copper-Gold-Silver Deposit, NI 43-101 Technical Report on Preliminary Economic Assessment” which has an effective date March 25, 2019 and which was first announced in a news release dated May 20, 2019, the Company wishes to announce the filing of an amended Technical Report which incorporates certain revisions to the originally filed report, including:


(i) inclusion of an updated Qualified Person (QP) certificate from lead consultants Wood showing Mr Peter Gron’s updated status as Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM);


(ii) inclusion of an “Important Notice” provided by Wood in replacement of the Disclaimer in the original document;


(iii) amendment to the reliance on experts references to include references to other experts concerning Items 3.3 (Mining) and 3.4 (Mineral Processing and Infrastructure) now described in Item 2.6 (Information Source References);


(iv) additional information with respect to the key assumptions to support the basis for the cut-off grade used in resource estimates set out in the report; and


(v) the inclusion of a spider sensitivity diagram covering ±25% variations in copper price, gold price, discount rate, Capex and Opex (at 5% intervals).


An revised report incorporating the above-noted amendments has been filed on SEDAR and is available under the profile of the Company and on the Company’s web site. The May 20, 2019 news release summarizing the PEA results can be viewed at: http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=850697


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp 


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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 www.sedar.com. 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 after 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.


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8020 Admin

3 months ago

8020 Admin posted a press release Drilling continues at the Limon and Bramaderos Main gold-copper porphyry prospects in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and plates related to 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:


http://www.cornerstoneresources.com/i/pdf/NR19-33Figures.pdf.


HIGHLIGHTS:



  • The Phase 2 drilling program is designed to follow-up the highly promising results achieved in Phase 1
     

  • Drilling at Bramaderos Main underway with BMDD004 drilling below BMDD001 to test a 500m vertical extent of porphyry gold-copper mineralization
     

  • Drilling at Limon is about to commence – drill hole LMDD005 is targeting a porphyry gold-copper system adjacent to, and beneath holes LMDD002 and LMDD004
     

  • Drilling at West Zone just completed with 8 shallow holes - Results will be released once assays are received


FURTHER INFORMATION:


The Phase 1 drill program of 5,347m tested the three targets of Bramaderos Main, Limon and West Zone. The Phase 2 has commenced with follow-up drilling at Limon and Bramaderos Main.


The Bramaderos Project comprises multiple gold-copper porphyry targets  and an epithermal gold corridor (Figures 1 & 2).


Receipt of assay results from drill holes at West Zone and Limon have been delayed due to laboratory delays. These are being managed and incorporated into future planning.


Cornerstone Vice President, Exploration, Yvan Crepeau said:


“It is still early days at the Bramaderos Project. Our Phase 1 drilling delivered a gold-copper porphyry at Bramaderos Main that shows potential for significant scale with mineralization extending from surface to at least 300m deep, and with a strike extent of at least 500m. Drilling now will focus on increasing the scale of this system.


“At Limon, we have intersected compelling ‘near porphyry’ alteration and mineralization in a very large system, with evidence in one drill hole of a shallow ‘high sulphidation’ copper-gold system. Follow-up drilling is aimed at intersecting both the shallow copper-gold system and the deeper main porphyry gold-copper zone.


“At the West Zone epithermal gold prospect, we have completed eight shallow holes which intersected a variety of host rocks and several zones of alteration. We need to wait for assay results before we can comment on the significance of the West Zone drill program.”


Limon Prospect:


Drill hole LMDD005 is currently being collared to test a porphyry gold-copper target (Figures 3 & 4).


Importantly, the process for targeting hole LMDD005 has included further detailed review of all Limon datasets and has focused on a 3-D review of new ground magnetics data in the context of geological constraints provided by drilling results. It is still early days at Limon, but we have established that we are within a large alteration envelope to a porphyry system.


LMDD005 will also test for extensions to the shallow high-sulphidation epithermal copper-gold system intersected in LMDD004 (13.3m at 0.43% copper and 0.11g/t gold, see Cornerstone news release dated October 15, 2019), and then drill to a final depth of ~1100m to test a magnetic anomaly approximately 800m below surface that is located adjacent to and below the intervals of most intense veining, alteration and gold-copper mineralization intersected in holes LMDD002 (see Cornerstone news release dated July 2, 2019) and LMDD004 (see Cornerstone news release dated October 15, 2019). LMDD002 intersected 14m at 0.2% copper, 0.1g/t gold, and 40.8ppm molybdenum at bottom of hole, with clear evidence of a porphyry gold-copper system.


In addition to LMDD005, two more drill holes have been planned that will test targets that may be associated with outcropping gold-copper porphyry mineralization defined in trench LM-01 which intersected 97.6m at 0.71g/t gold and 0.23% copper (see Cornerstone news release dated May 29, 2018).


The link between outcropping porphyry gold-copper mineralization (trench LM-01), shallow high-sulphidation mineralization at ~60m below surface in LMDD004, and deep porphyry mineralization in LMDD002 at 600m below surface, is being pursued with this exploration program and the next 3 drill holes.


Bramaderos Main Prospect:


Final assays for hole BMDD002 at Bramaderos Main have been received and, as predicted, the bottom of hole has returned low grade gold results (Table 1 and Figure 7). The copper assays are consistent throughout the hole, but the gold grade is lower at depth. We interpret this to most likely represent multiple ‘events’ of mineralization and the target zone now becomes the domain on the north-eastern side of the diorite host rock (see Figure 6).


This is mapped out well at surface from extensive trenching with three higher grade domains defined (see Cornerstone news release dated August 26, 2019, and Figure 5). A north-west extension of the longitudinal trench is currently being prepared and sampled which is expected to extend the domain of surface mineralization.


BMDD004 is currently at ~70m downhole and has intersected mineralization from 5m downhole comparable to that seen in the upper part of hole BMDD001 (see Cornerstone news release dated July 18, 2019). It is designed to test a 500m vertical section of the higher-grade domain (Figure 6) below hole BMDD001.


Additional holes to be drilled include at least two holes on sections to the NW of BMDD001 and 004 testing the higher-grade zones in trenches over a strike length of 400m, a shallow hole to twin and extend historical hole CURI-03, and two holes under the main topographic high of Bramaderos Hill which exhibits extensive epithermal style alteration.


Detailed ground magnetics have been collected over Bramaderos Main and these will be processed over the next month to assist with further drill targeting.


Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=8059847211135864 

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8020 Admin

3 months ago

8020 Admin posted a press release Cascabel Copper Gold and Silver Recovery Improvements Drive Modeled Revenue Increases in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce significant improvements in copper and gold recoveries from metallurgical testing at the Alpala deposit at its Cascabel copper-gold porphyry joint venture in northern Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc.


Figures related to 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:


http://www.cornerstoneresources.com/i/pdf/NR19-32Figures.pdf.


HIGHLIGHTS:



  • The current metallurgical test program has expanded on that conducted during the Preliminary Economic Assessment (PEA1), and has produced substantial improvements in copper, gold and silver recovery and in copper concentrate grade. These results are supported by both locked cycle and leach diagnostic tests.
     

  • Results include:
     

    • An estimated 3.8% increase in copper recovery to achieve a life of mine average of 93.4% recovery (Figure 1).
       

    • An estimated 21.6% increase in gold recovery to achieve a life of mine average of 87.2% recovery (Figure 2).
       

    • An estimated 28.3% increase in silver recovery to achieve a life of mine average of 87.6% recovery (Figure 3).
       

    • Ongoing large-scale tests will also evaluate CAPEX and OPEX changes to update economics.




FURTHER INFORMATION:


SolGold is continuing large scale metallurgical tests and is continuing to assess changes to operating and capital cost estimates in order to evaluate any changes to profitability and project value that may arise as a result of delivery of any extra revenue indicated by upgraded recoveries. In addition to copper, gold and silver, SolGold is testing for molybdenum, rhenium, magnetite and pyrite recoveries. Improvements in concentrate grades since those reported in the PEA, point to reductions in concentrate volumes, that may result in further modelled cost reductions in that area.


Davis Tube Recovery (DTR) tests indicate that 60% of iron in tailing can be recovered to a rougher magnetic concentrate grading 50% Fe. This is comparable to operations where magnetite has been recovered as a by-product of copper treatment, such as Ernest Henry and Atlas Copper. Following regrind of concentrate it is anticipated that product grades >60% Fe can be achieved. This is economically sensible plus also has a positive impact by reducing the material to be stored in tailing storage facilities.


Mineralogy drives excellent results


The mineralization of the Alpala deposit is considered a classic porphyry copper-gold system and the porphyry-related vein types and copper, gold and silver mineralization indicate a systematic development in time. Main-stage quartz veins typically contain chalcopyrite, magnetite and pyrite. Transitional-stage, chalcopyrite-rich veins (Figure 4) contain rare to minor bornite and cross-cut earlier vein types. These two vein types contribute to the majority of the gold, copper and silver in the deposit.


Late-stage, pyritic veins contain chalcopyrite, minor bornite and locally, molybdenite. Many of the later vein stages exploit and re-open earlier vein types. Anhydrite is a common vein constituent and re-opens earlier vein stages. Early-formed, hydrothermal magnetite occurs within main-stage quartz veins and as monomineralic veinlets, disseminated grains and replacements of magmatic hornblende. Magnetite is variably converted to metallic hematite and pyrite in the upper part of the deposit.


The earliest formed copper sulphide minerals observed in drill-core consists of abundant chalcopyrite and rare bornite in main-stage quartz veins. Chalcopyrite most commonly forms after, and surrounds, cubic and massive pyrite in transitional- and late-stage veins. It also occurs in anhydrite-rich veins and main-stage quartz veins that have been re-opened by later vein types. Bornite is in textural equilibrium with pyrite and chalcopyrite in transitional- and late-stage veins.


Scanning Electron Microscopy (SEM) techniques including Backscattered Electron (BSE) imaging and Energy Dispersive X-ray Spectroscopy (EDS) indicate that gold and silver occur as discrete grains of electrum (typically 60% to 85% Au, with the remainder as Ag) that range from 1 to 50 microns in diameter (Figure 5, right). Electrum is rarely coarse-grained and ranges up to 1000 microns (1.0 mm) in diameter (Figure 5, left). The electrum grains occur within chalcopyrite, bornite, pyrite and more rarely quartz and anhydrite. Grains of low-Ag gold (> 90% Au) that are 1 to 3 microns in diameter are associated with sulphide grains and occur locally within silicate gangue minerals.


In summary, the sulphide mineral assemblages at Alpala are characterized principally by chalcopyrite, pyrite and bornite, which are similar to the main-stage to transitional-stage sulphide mineral assemblages present at Grasberg, Indonesia and the El Salvador and Portrerillos mines in northern Chile. The simple chemical formulas of the minerals at Alpala contribute to enhanced metallurgical recoveries and clean concentrates that lack any significantly deleterious elements.


See Figures 6 (Gold Recovery Benchmarking) and 7 (Copper Grade Benchmarking).


About the Cascabel Joint Venture with SolGold:


Exploraciones Novomining S.A. (“ENSA”), an Ecuadorian company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to completion of a feasibility study, SolGold will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone’s distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed.


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 Cascabel project for Cornerstone and has reviewed and approved the information contained in this news release.


Logging, sampling, assaying and reporting


Holes referred to in this release were or are being drilled using HTW, NTW, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD’s), specific gravity and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified by experienced loggers and sometimes using an on-site portable spectrometer. Core is then sawed in half at the ENSA core logging facility, and half of the core is delivered by ENSA employees for preparation at ALS Minerals Laboratories (ALS) sample preparation facility in Quito. Core samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (ALS code CRU-31, SPL21 and PUL-32). Prepared samples are then shipped to ALS in Lima, Peru where samples are assayed for a multi-element suite (ALS code ME-MSP61, 1g split, 4-acid digestion, ICP-MS finish). Over limit results for Ag (> 100 g/t) and Cu, (> 1%) are systematically re-assayed (ALS code Ag-AA62, 4-acid digestion, AAS finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA finish (ALS code Au-AA23). 


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: David Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


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 www.sedar.com.  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 after 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,
Hugh 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.
release.


1 See Cornerstone news releases dated May 20, 2019 (PEA results) and June 28, 2019 (Sedar filing of NI 43-101 Technical Report for the PEA).


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Cornerstone Capital Resources Inc.

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Cornerstone has a diversified portfolio of gold, silver and copper projects in Ecuador and Chile, including a 15% interest in the exciting Cascabel copper-gold discovery in Ecuador financed through to a bankable feasibility study.

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8020 Admin

5 hours ago

8020 Admin posted a press release Ten priority epithermal gold targets identified for follow-up at Bramaderos in CORNERSTONE CAPITAL RESOURCES INC.

Rock chip samples of up to 11g/t gold highlight the prospectivity


OTTAWA, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures related to 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: 


http://www.cornerstoneresources.com/i/pdf/NR20-03Figures.pdf.


HIGHLIGHTS:



  • Exploration for epithermal gold in the western portion of the Bramaderos concession in Ecuador is generating promising results
     

  • Trenching over the Bramaderos Vein has returned up to 2.1g/t gold and 7.7g/t silver
     

  • Rock chip samples from the El Espiritu epithermal target have returned up to 11.63 g/t gold and up to 38.62 g/t silver
     

  • Exploration at the West Zone epithermal target has resulted in improved interpretation of the geology of the epithermal belt
     

  • The epithermal gold belt is an extension of the producing Dynasty Goldfield located ~5km to the south-west, and within the Bramaderos concession includes multiple targets representing significant exploration potential
     

  • Ten targets have been defined based on soil geochemistry, rock chip sampling, geological mapping, alteration mineral mapping and regional structural analysis, and a ground magnetic survey is in progress to further refine target definition prior to drill testing


FURTHER INFORMATION:


The ten targets are all located within the Bramaderos epithermal gold belt (Figures 1 and 2), which is on trend of the north-east extension of the gold producing Dynasty Goldfield located 5km to the south-west (held by TSXV listed Core Gold Inc).


They include the Bramaderos Vein, where recent trenching returned results of up to 2.1g/t gold and 7.7g/t silver over 0.9m and where historical rock chip sampling returned up to 32.5g/t gold.


Other areas of gold mineralization in rock chip samples include El Espiritu, where there is an extensive pathfinder element signature in soil samples. Gold values include 11.63 g/t, 3.70 g/t, 1.80 g/t and 1.615 g/t and silver values include 38.62 g/t, 26.67 g/t, 15.68 g/t and 10.84 g/t. These mineralized samples were collected from barite-bearing ferruginous quartz veins in gullies located approximately 700m northeast of Bramaderos Hill, within two of the ten defined epithermal targets along the epithermal target belt.


A trenching program is being designed to test this area in a more systematic fashion. A rock chip-sampling program is also being designed to cover 5 of the epithermal targets that have strong pathfinder element signatures in soils but are yet to be surface sampled by rock-chipping.


Drilling at West Zone identified anomalous epithermal gold values, but on re-interpretation did not test the revised target zones.


The main target zone at West Zone is now interpreted to be limited to the North Breccia Pod area as a structurally-constrained zone plunging to the east or north-east (Figure 3).


QAQC (quality assurance/quality control) review and petrography have been completed. The petrography confirms that some of the very high-grade surface gold values in trenches is due to supergene enrichment with a vertical extent of meters.


Cornerstone VP Exploration, Yvan Crepeau, said:


“We are seeing a lot of evidence of epithermal style mineralization within the belt and we know that this area is the north-east extension of the gold producing Dynasty Goldfield."


“We are very bullish about the targets that have been defined to date along this trend, and we plan to move those to drilling status as soon as possible.”


“We have developed an improved interpretation of the West Zone target. Supergene gold enrichment, demonstrated at West Zone, may represent an opportunity within the belt.”


Table 1: Anomalous Assays from West Zone drilling



Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=7218499609659920 

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8020 Admin

1 day ago

8020 Admin posted a press release Bramaderos Main Assays Extend Strike Length of Mineralization to 650m in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador (Figure 1), which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures related to 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:


http://www.cornerstoneresources.com/i/pdf/NR20-02Figures.pdf.


HIGHLIGHTS:



  • Assays from drill holes BMDD004, BMDD005, and BMDD006 extend the known mineralization at the Bramaderos Main gold-copper deposit
     

  • Intervals include:


° 127m (true width1 “tw” 89m) at 0.57g/t gold and 0.1% copper from 216.8m in BMDD005, including


· 39m (tw 27m) at 0.72g/t gold and 0.13% copper from 295m


° 46.2m  (tw 32m) at 0.45g/t gold and 0.18% copper from 15m, and 72.5m (tw 51m) at 0.42g/t gold and 0.12% copper from 319.15m in BMDD006



  • BMDD005 extends the known mineralization 150m northwest of BMDD001 which intersected 172m (tw 120m) at 0.52g/t gold and 0.16% copper from surface
     

  • BMDD006 extends mineralization a further 360m to the north-west of BMDD005
     

  • BMDD004 defined the east margin of the system in the vicinity of BMDD001
     

  • BMDD007 which is in progress has intersected zones of quartz veining and visible chalcopyrite
     

  • The strike extent of mineralization outlined from BMDD002 to BMDD006 is now 640m and reflects the surface trench which intersected 615m (tw 430m) at 0.52g/t gold and 0.11% copper.
     

  • The total strike extent of the mineralization from BMDD002 to BMDD007 is now more than 1km
     

  • Mineralization remains open to the northwest and southeast


FURTHER INFORMATION:


At the Bramaderos Main target, assay results from drill holes BMDD004, BMDD005, and BMDD006 have been received. All holes have intersected intervals of gold and copper.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=6802597460873225 

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8020 Admin

15 days ago

8020 Admin posted a press release Bramaderos Farm-in Terms Amended in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Jan. 07, 2020 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to announce that it has amended the terms of its farm-in arrangement with ASX listed Sunstone Metals Inc., to provide Cornerstone with a 12.5% interest carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone’s share of earnings or dividends from the Bramaderos project.


Cornerstone CEO, Brooke Macdonald, said:


“This amendment is a win-win for Cornerstone and Sunstone, relieving Sunstone of fixed obligations to earn an additional interest above its current 51% interest, and relieving Cornerstone of the obligation to fund 49% of the current drilling and future work programs for  feasibility studies and construction or suffer dilution of its interest. We are a prospect generator following the farm-in/joint venture model, and funding expensive drilling would be inconsistent with that business model. We are confident that Sunstone will advance Bramaderos as quickly as it can, and if there is a significant discovery there we will be carried through feasibility and construction until the start of commercial production with our 12.5% carried interest repayable at a low interest rate from a portion of our share of earnings from the project.


“Cornerstone and Sunstone remain very optimistic of the likelihood of a discovery at Bramaderos and our focus on porphyry gold-copper targets has delivered promising results from the Bramaderos Main and Limon targets. We still have other targets including Porotillo, Gangue, and Playas to drill test, and we are advancing our epithermal gold exploration targets in the western portion of the project.’’


About Bramaderos


Measuring 4,948 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway which crosses the property.


The Bramaderos concession is owned by La Plata Minerales S.A. (“PLAMIN”), which in turn is owned 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone.


More information about the property can be found at www.cornerstoneresources.com.


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 Bramaderos project for Cornerstone and has reviewed and approved the information contained in this news release.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including a minority interest in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations: Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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 www.sedar.com.  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 after 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.


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8020 Admin

1 month ago

8020 Admin posted a press release Cornerstone Closes Debt Settlement in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Dec. 16, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has closed its debt settlement transaction announced on December 9, 2019. Pursuant to the debt settlement transaction, Cornerstone has issued 283,920 common shares of the Company at a deemed price of C$2.37 in settlement of C$672,890.52 of debt.


The shares issued pursuant to the transaction have a hold period expiring on April 17, 2020.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


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.


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MI3 Technical Note

CORNERSTONE CAPITAL RESOURCES (CGP – TSX.V) $2.50


insert_drive_fileTechnical-Note-December-11-2019.pdf
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8020 Admin

1 month ago

8020 Admin posted a press release Cornerstone to Settle Outstanding Indebtedness in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Dec. 09, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announced today that it has agreed to settle C$672,890.52 of debt owing to legal advisors to the Company by issuing 283,920 common shares in the capital of the Company at a deemed price of C$2.37 per common share. The debt settlement transaction is subject to the approval of the TSX Venture Exchange and all common shares issued pursuant to the debt settlement transaction will be subject to a four-month statutory hold period.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


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.


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8020 Admin

2 months ago

8020 Admin posted a press release Update on Investment for Accounting Purposes in Cascabel in CORNERSTONE CAPITAL RESOURCES INC.


OTTOWA, Nov. 22, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces that on November 21, 2019, it received an updated valuation report on the estimated fair market value for accounting purposes of its investment in Exploraciones Novomining S.A. (“ENSA”). ENSA is an Ecuadorean company owned by SolGold Plc and Cornerstone, that holds 100% of the Cascabel concession.


The periodic valuation of the investment is required by International Financial Reporting Standards (IFRS). The Company engaged a valuation firm to assist in the reevaluation of that investment after receipt of the National Instrument 43-101 technical report on the Alpala Deposit filed on Sedar on January 3, 2019 as a result of the November 20, 2018 disclosure of the updated mineral resource estimate for the Alpala deposit. The Company engaged the same valuation firm, received the updated valuation report and management selected what it believes is a conservative valuation of ENSA within the range provided in the report. The estimated fair value of the Company's long-term investment in ENSA for financial statement reporting purposes as at September 30, 2019 is $69,700,000.


The value has fluctuated over time, in line with the change in many variables, including the market value of SolGold shares.


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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 www.sedar.com.  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 after 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.


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8020 Admin

2 months ago

8020 Admin posted a press release Cornerstone Files Amended Technical Report for Cascabel (Alpala Deposit) Preliminary Economic Assessment in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) announces that as a result of a review by staff of the Ontario Securities Commission (“OSC”) the Company is issuing the following news release regarding its technical disclosure made with respect to the Alpala Project in Ecuador.


Specifically, with regards to the Technical Report titled “Cascabel Project, Northern Ecuador, Alpala Copper-Gold-Silver Deposit, NI 43-101 Technical Report on Preliminary Economic Assessment” which has an effective date March 25, 2019 and which was first announced in a news release dated May 20, 2019, the Company wishes to announce the filing of an amended Technical Report which incorporates certain revisions to the originally filed report, including:


(i) inclusion of an updated Qualified Person (QP) certificate from lead consultants Wood showing Mr Peter Gron’s updated status as Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM);


(ii) inclusion of an “Important Notice” provided by Wood in replacement of the Disclaimer in the original document;


(iii) amendment to the reliance on experts references to include references to other experts concerning Items 3.3 (Mining) and 3.4 (Mineral Processing and Infrastructure) now described in Item 2.6 (Information Source References);


(iv) additional information with respect to the key assumptions to support the basis for the cut-off grade used in resource estimates set out in the report; and


(v) the inclusion of a spider sensitivity diagram covering ±25% variations in copper price, gold price, discount rate, Capex and Opex (at 5% intervals).


An revised report incorporating the above-noted amendments has been filed on SEDAR and is available under the profile of the Company and on the Company’s web site. The May 20, 2019 news release summarizing the PEA results can be viewed at: http://www.cornerstoneresources.com/s/NewsReleases.asp?ReportID=850697


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable at Libor plus 2% out of 90% of its share of the earnings or dividends from an operation at Cascabel, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc. Exploraciones Novomining S.A. (“ENSA”), an Ecuadorean company owned by SolGold and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to feasibility, SolGold Plc will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet; Email: Mario@mi3.ca; Tel. (514) 904-1333


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp 


Cautionary Notice:
This news release may contain ‘Forward-Looking Statements’ that involve risks and uncertainties, such as statements of Cornerstone’s beliefs, plans, objectives, strategies, intentions and expectations.  The words “potential,” “anticipate,” “forecast,” “believe,” “estimate,” “intend”, “trends”, “indicate”, “expect,” “may,” “should,” “could”, “project,” “plan,” or the negative or other variations of these words 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 www.sedar.com. 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 after 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.


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8020 Admin

3 months ago

8020 Admin posted a press release Drilling continues at the Limon and Bramaderos Main gold-copper porphyry prospects in CORNERSTONE CAPITAL RESOURCES INC.

OTTAWA, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) is pleased to provide an update on its Bramaderos gold and copper project in southern Ecuador, which it is exploring together with ASX listed Sunstone Metals Inc. under a farm-in agreement (see “About Bramaderos”, below).


Figures and plates related to 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:


http://www.cornerstoneresources.com/i/pdf/NR19-33Figures.pdf.


HIGHLIGHTS:



  • The Phase 2 drilling program is designed to follow-up the highly promising results achieved in Phase 1
     

  • Drilling at Bramaderos Main underway with BMDD004 drilling below BMDD001 to test a 500m vertical extent of porphyry gold-copper mineralization
     

  • Drilling at Limon is about to commence – drill hole LMDD005 is targeting a porphyry gold-copper system adjacent to, and beneath holes LMDD002 and LMDD004
     

  • Drilling at West Zone just completed with 8 shallow holes - Results will be released once assays are received


FURTHER INFORMATION:


The Phase 1 drill program of 5,347m tested the three targets of Bramaderos Main, Limon and West Zone. The Phase 2 has commenced with follow-up drilling at Limon and Bramaderos Main.


The Bramaderos Project comprises multiple gold-copper porphyry targets  and an epithermal gold corridor (Figures 1 & 2).


Receipt of assay results from drill holes at West Zone and Limon have been delayed due to laboratory delays. These are being managed and incorporated into future planning.


Cornerstone Vice President, Exploration, Yvan Crepeau said:


“It is still early days at the Bramaderos Project. Our Phase 1 drilling delivered a gold-copper porphyry at Bramaderos Main that shows potential for significant scale with mineralization extending from surface to at least 300m deep, and with a strike extent of at least 500m. Drilling now will focus on increasing the scale of this system.


“At Limon, we have intersected compelling ‘near porphyry’ alteration and mineralization in a very large system, with evidence in one drill hole of a shallow ‘high sulphidation’ copper-gold system. Follow-up drilling is aimed at intersecting both the shallow copper-gold system and the deeper main porphyry gold-copper zone.


“At the West Zone epithermal gold prospect, we have completed eight shallow holes which intersected a variety of host rocks and several zones of alteration. We need to wait for assay results before we can comment on the significance of the West Zone drill program.”


Limon Prospect:


Drill hole LMDD005 is currently being collared to test a porphyry gold-copper target (Figures 3 & 4).


Importantly, the process for targeting hole LMDD005 has included further detailed review of all Limon datasets and has focused on a 3-D review of new ground magnetics data in the context of geological constraints provided by drilling results. It is still early days at Limon, but we have established that we are within a large alteration envelope to a porphyry system.


LMDD005 will also test for extensions to the shallow high-sulphidation epithermal copper-gold system intersected in LMDD004 (13.3m at 0.43% copper and 0.11g/t gold, see Cornerstone news release dated October 15, 2019), and then drill to a final depth of ~1100m to test a magnetic anomaly approximately 800m below surface that is located adjacent to and below the intervals of most intense veining, alteration and gold-copper mineralization intersected in holes LMDD002 (see Cornerstone news release dated July 2, 2019) and LMDD004 (see Cornerstone news release dated October 15, 2019). LMDD002 intersected 14m at 0.2% copper, 0.1g/t gold, and 40.8ppm molybdenum at bottom of hole, with clear evidence of a porphyry gold-copper system.


In addition to LMDD005, two more drill holes have been planned that will test targets that may be associated with outcropping gold-copper porphyry mineralization defined in trench LM-01 which intersected 97.6m at 0.71g/t gold and 0.23% copper (see Cornerstone news release dated May 29, 2018).


The link between outcropping porphyry gold-copper mineralization (trench LM-01), shallow high-sulphidation mineralization at ~60m below surface in LMDD004, and deep porphyry mineralization in LMDD002 at 600m below surface, is being pursued with this exploration program and the next 3 drill holes.


Bramaderos Main Prospect:


Final assays for hole BMDD002 at Bramaderos Main have been received and, as predicted, the bottom of hole has returned low grade gold results (Table 1 and Figure 7). The copper assays are consistent throughout the hole, but the gold grade is lower at depth. We interpret this to most likely represent multiple ‘events’ of mineralization and the target zone now becomes the domain on the north-eastern side of the diorite host rock (see Figure 6).


This is mapped out well at surface from extensive trenching with three higher grade domains defined (see Cornerstone news release dated August 26, 2019, and Figure 5). A north-west extension of the longitudinal trench is currently being prepared and sampled which is expected to extend the domain of surface mineralization.


BMDD004 is currently at ~70m downhole and has intersected mineralization from 5m downhole comparable to that seen in the upper part of hole BMDD001 (see Cornerstone news release dated July 18, 2019). It is designed to test a 500m vertical section of the higher-grade domain (Figure 6) below hole BMDD001.


Additional holes to be drilled include at least two holes on sections to the NW of BMDD001 and 004 testing the higher-grade zones in trenches over a strike length of 400m, a shallow hole to twin and extend historical hole CURI-03, and two holes under the main topographic high of Bramaderos Hill which exhibits extensive epithermal style alteration.


Detailed ground magnetics have been collected over Bramaderos Main and these will be processed over the next month to assist with further drill targeting.


Read more here: https://www.quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=8059847211135864 

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8020 Admin

3 months ago

8020 Admin posted a press release Cascabel Copper Gold and Silver Recovery Improvements Drive Modeled Revenue Increases in CORNERSTONE CAPITAL RESOURCES INC.


OTTAWA, Oct. 28, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce significant improvements in copper and gold recoveries from metallurgical testing at the Alpala deposit at its Cascabel copper-gold porphyry joint venture in northern Ecuador. Cornerstone has a 22.8% direct and indirect interest in Cascabel comprised of (i) a direct 15% interest in the project financed through to completion of a feasibility study and repayable out of Cornerstone’s share of project cash flow, plus (ii) an indirect interest comprised of 9.2% of the shares of joint venture partner and project operator SolGold Plc.


Figures related to 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:


http://www.cornerstoneresources.com/i/pdf/NR19-32Figures.pdf.


HIGHLIGHTS:



  • The current metallurgical test program has expanded on that conducted during the Preliminary Economic Assessment (PEA1), and has produced substantial improvements in copper, gold and silver recovery and in copper concentrate grade. These results are supported by both locked cycle and leach diagnostic tests.
     

  • Results include:
     

    • An estimated 3.8% increase in copper recovery to achieve a life of mine average of 93.4% recovery (Figure 1).
       

    • An estimated 21.6% increase in gold recovery to achieve a life of mine average of 87.2% recovery (Figure 2).
       

    • An estimated 28.3% increase in silver recovery to achieve a life of mine average of 87.6% recovery (Figure 3).
       

    • Ongoing large-scale tests will also evaluate CAPEX and OPEX changes to update economics.




FURTHER INFORMATION:


SolGold is continuing large scale metallurgical tests and is continuing to assess changes to operating and capital cost estimates in order to evaluate any changes to profitability and project value that may arise as a result of delivery of any extra revenue indicated by upgraded recoveries. In addition to copper, gold and silver, SolGold is testing for molybdenum, rhenium, magnetite and pyrite recoveries. Improvements in concentrate grades since those reported in the PEA, point to reductions in concentrate volumes, that may result in further modelled cost reductions in that area.


Davis Tube Recovery (DTR) tests indicate that 60% of iron in tailing can be recovered to a rougher magnetic concentrate grading 50% Fe. This is comparable to operations where magnetite has been recovered as a by-product of copper treatment, such as Ernest Henry and Atlas Copper. Following regrind of concentrate it is anticipated that product grades >60% Fe can be achieved. This is economically sensible plus also has a positive impact by reducing the material to be stored in tailing storage facilities.


Mineralogy drives excellent results


The mineralization of the Alpala deposit is considered a classic porphyry copper-gold system and the porphyry-related vein types and copper, gold and silver mineralization indicate a systematic development in time. Main-stage quartz veins typically contain chalcopyrite, magnetite and pyrite. Transitional-stage, chalcopyrite-rich veins (Figure 4) contain rare to minor bornite and cross-cut earlier vein types. These two vein types contribute to the majority of the gold, copper and silver in the deposit.


Late-stage, pyritic veins contain chalcopyrite, minor bornite and locally, molybdenite. Many of the later vein stages exploit and re-open earlier vein types. Anhydrite is a common vein constituent and re-opens earlier vein stages. Early-formed, hydrothermal magnetite occurs within main-stage quartz veins and as monomineralic veinlets, disseminated grains and replacements of magmatic hornblende. Magnetite is variably converted to metallic hematite and pyrite in the upper part of the deposit.


The earliest formed copper sulphide minerals observed in drill-core consists of abundant chalcopyrite and rare bornite in main-stage quartz veins. Chalcopyrite most commonly forms after, and surrounds, cubic and massive pyrite in transitional- and late-stage veins. It also occurs in anhydrite-rich veins and main-stage quartz veins that have been re-opened by later vein types. Bornite is in textural equilibrium with pyrite and chalcopyrite in transitional- and late-stage veins.


Scanning Electron Microscopy (SEM) techniques including Backscattered Electron (BSE) imaging and Energy Dispersive X-ray Spectroscopy (EDS) indicate that gold and silver occur as discrete grains of electrum (typically 60% to 85% Au, with the remainder as Ag) that range from 1 to 50 microns in diameter (Figure 5, right). Electrum is rarely coarse-grained and ranges up to 1000 microns (1.0 mm) in diameter (Figure 5, left). The electrum grains occur within chalcopyrite, bornite, pyrite and more rarely quartz and anhydrite. Grains of low-Ag gold (> 90% Au) that are 1 to 3 microns in diameter are associated with sulphide grains and occur locally within silicate gangue minerals.


In summary, the sulphide mineral assemblages at Alpala are characterized principally by chalcopyrite, pyrite and bornite, which are similar to the main-stage to transitional-stage sulphide mineral assemblages present at Grasberg, Indonesia and the El Salvador and Portrerillos mines in northern Chile. The simple chemical formulas of the minerals at Alpala contribute to enhanced metallurgical recoveries and clean concentrates that lack any significantly deleterious elements.


See Figures 6 (Gold Recovery Benchmarking) and 7 (Copper Grade Benchmarking).


About the Cascabel Joint Venture with SolGold:


Exploraciones Novomining S.A. (“ENSA”), an Ecuadorian company owned by SolGold Plc and Cornerstone, holds 100% of the Cascabel concession. Subject to the satisfaction of certain conditions, including SolGold’s fully funding the project through to completion of a feasibility study, SolGold will own 85% of the equity of ENSA and Cornerstone will own the remaining 15% of ENSA. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project. SolGold shall receive 90% of Cornerstone’s distribution of earnings or dividends from ENSA to which Cornerstone would otherwise be entitled until such time as the amounts so received equal the aggregate amount of expenditures incurred by SolGold that would have otherwise been payable by Cornerstone, plus interest thereon from the dates such expenditures were incurred at a rate per annum equal to LIBOR plus 2 per cent until such time as SolGold is fully reimbursed.


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 Cascabel project for Cornerstone and has reviewed and approved the information contained in this news release.


Logging, sampling, assaying and reporting


Holes referred to in this release were or are being drilled using HTW, NTW, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD’s), specific gravity and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified by experienced loggers and sometimes using an on-site portable spectrometer. Core is then sawed in half at the ENSA core logging facility, and half of the core is delivered by ENSA employees for preparation at ALS Minerals Laboratories (ALS) sample preparation facility in Quito. Core samples are prepared crushing to 70% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 75 microns (200 mesh) (ALS code CRU-31, SPL21 and PUL-32). Prepared samples are then shipped to ALS in Lima, Peru where samples are assayed for a multi-element suite (ALS code ME-MSP61, 1g split, 4-acid digestion, ICP-MS finish). Over limit results for Ag (> 100 g/t) and Cu, (> 1%) are systematically re-assayed (ALS code Ag-AA62, 4-acid digestion, AAS finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA finish (ALS code Au-AA23). 


About Cornerstone:


Cornerstone Capital Resources Inc. is a mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, including in the Cascabel gold-enriched copper porphyry joint venture in north west Ecuador.


Further information is available on Cornerstone’s website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:


Investor Relations:
Mario Drolet (Montreal); Email: Mario@mi3.ca;
Tel. (514) 346-3813


Corporate Matters: David Loveys, CFO; Email: loveys@cornerstoneresources.ca;
Tel. (343) 689-0714


Due to anti-spam laws, many shareholders and others who were previously signed up to receive email updates and who are no longer receiving them may need to re-subscribe at http://www.cornerstoneresources.com/s/InformationRequest.asp


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 www.sedar.com.  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 after 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,
Hugh 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.
release.


1 See Cornerstone news releases dated May 20, 2019 (PEA results) and June 28, 2019 (Sedar filing of NI 43-101 Technical Report for the PEA).


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