OTTAWA, ONTARIO--(Marketwired - Jan. 5, 2017) - Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE:CGP)(FRANKFURT:GWN)(BERLIN:GWN)(OTCBB:CTNXF) announces its subsidiary La Plata Minerales S.A. ("Plamin") has been awarded the "Bramaderos" concession in Ecuador following a public bidding process.
The 4,949 Hectares Bramaderos concession is located in Loja province, some 130 km (2 hours drive) from the Loja provincial capital city. Easy access is provided by the PanAmerican Highway crossing the western part of the concession.
The Bramaderos property was sporadically explored during the periods 1970 to 1984, 2001 to 2002 and 2004 to 2007. Porphyry style gold-copper mineralization has been found mainly associated to quartz veins stockworks and breccias hosted by a cluster of potassic altered, northeast aligned, quartz-diorite poprhyries showing the typical porphyry alteration and mineralization patterns. An extensive, 5km by 1-2 km, gold and copper (+/- molybdenum) in-soil anomaly located in the central part of the property has been partially tested by trenching and diamond drilling. Several zones have not yet been followed up. A total of 888 rock and 1324 soil samples have been collected, 17 trenches dug and channel sampled, 31 line kilometers of magnetic and Induced Polarization (IP) surveys carried out, and a total of 10,426m of diamond drilling performed to test some of the anomalous areas.
Brooke Macdonald, Cornerstone's CEO, said: "Bramaderos has excellent potential to host large-volume gold and copper mineralization. The available data will be fully assessed and a 3D mineralization model developed. Several near drill ready targets have been identified, and the property is available for joint venture".
A location map 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:
More detailed information, including a more detailed concession map, will be released once all of the data sets have been fully analyzed. Bramaderos is subject to the usual rules under the Ecuadorian Mining Law, including an initial exploration period of four years, followed by four years for advanced exploration (including drilling), followed by two years for pre-feasibility and feasibility studies and definition drilling which period may be extended for a final two years prior to exploitation (mine development).
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.
Cornerstone Capital Resources Inc. is a well funded mineral exploration company with a diversified portfolio of projects in Ecuador and Chile, and a proven ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through partnerships. Cornerstone has a 15% interest financed through to completion of a feasibility study in the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.
Further information is available on Cornerstone's website: www.cornerstoneresources.com and on Twitter.
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 subsequent to 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.