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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Cornerstone Announces Extremely Positive PEA Results for Cascabel Project


Cornerstone Announces Extremely Positive PEA Results for Cascabel Project

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OTTAWA, May 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) for its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador (Figure 1). The Company 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 referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:


http://www.cornerstoneresources.com/i/pdf/NR19-12Figures.pdf.


A “preliminary economic assessment” or PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources. The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. A technical report for the PEA will be filed at www.sedar.com within 45 days of this news release, as required by National Instrument 43-101.


Key aspects and findings from this concept level study are summarized below.


HIGHLIGHTS:



  • Net Present Value (“NPV”) estimates range from US$4.1B to US$4.5B (Real, post-tax, @ 8% discount rate, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario (see below)

  • Internal Rate of Return (“IRR”) estimates range from 24.8% to 26.5% (Real, post-tax, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario

  • Pre-production Capex estimated at approx. US$2.4B to US$2.8B depending on production rate scenario

  • Payback Period on initial start-up capital – Range from 3.5 to 3.8 years after commencement of production depending on production rate scenario

  • Preferred Mining Method – Underground low-cost mass mining using Block Cave methods applied over several caves designed on two vertically extensive Lifts

  • Four alternative mine production cases have been pre-selected and assessed as part of the PEA – The Production Rate Scenario (see Mine Production Cases table below) proposed as the base case is Case 2b: 50Mtpa – Fast ramp-up:


 


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=8393392885674573 

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OTTAWA, May 20, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to announce the results of the Preliminary Economic Assessment (“PEA”) for its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador (Figure 1). The Company 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 referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:

http://www.cornerstoneresources.com/i/pdf/NR19-12Figures.pdf.

A “preliminary economic assessment” or PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources. The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. A technical report for the PEA will be filed at www.sedar.com within 45 days of this news release, as required by National Instrument 43-101.

Key aspects and findings from this concept level study are summarized below.

HIGHLIGHTS:

  • Net Present Value (“NPV”) estimates range from US$4.1B to US$4.5B (Real, post-tax, @ 8% discount rate, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario (see below)
  • Internal Rate of Return (“IRR”) estimates range from 24.8% to 26.5% (Real, post-tax, US$3.30/lb copper price, US$1,300/oz gold price and US$16/oz silver price) depending on production rate scenario
  • Pre-production Capex estimated at approx. US$2.4B to US$2.8B depending on production rate scenario
  • Payback Period on initial start-up capital – Range from 3.5 to 3.8 years after commencement of production depending on production rate scenario
  • Preferred Mining Method – Underground low-cost mass mining using Block Cave methods applied over several caves designed on two vertically extensive Lifts
  • Four alternative mine production cases have been pre-selected and assessed as part of the PEA – The Production Rate Scenario (see Mine Production Cases table below) proposed as the base case is Case 2b: 50Mtpa – Fast ramp-up:

 

Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=CGP%3ACC&qmodStoryID=8393392885674573 


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