Cornerstone Capital Resources Inc.
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Cornerstone Capital Resources Inc.

October 16, 2013 10:03 ET

Cornerstone Capital Resources Inc.: Final Assay Results Lift Copper Grades for First Cascabel Drill Hole

MOUNT PEARL, NEWFOUNDLAND--(Marketwired - Oct. 16, 2013) - Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE:CGP) (OTCBB:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) announces that final assay results have been received for Drill Hole CSD-13-001 at the Cascabel copper-gold Project in northern Ecuador. The initial preliminary results were reported by Cornerstone on October 10, 2013.

Highlights:

  • Final assay results for coppergold mineralisation in Drill Hole CSD13001 include
  • 302m @ 0.39% copper and 0.48 g/t gold from 16m, including:
  • 100m @ 0.65% copper and 1.0 g/t gold from 222m.
  • Final result highlighted above represents a 14.7% increase in the copper grade across the 302m interval, with a 30% increase in the copper grade within the 100m high grade zone.
  • High grade zone from 226m to 284m (58m) at 0.96% copper and 1.67 g/t gold.
  • Mineralization styles indicative of potentially significant coppergold porphyry system.
  • Drill Hole CSD13002 assays for first 200 metres expected within 2 weeks.
  • Drill Hole CSD13003 was at a depth of 450 metres on 15 October.

Drill Hole CSD13001 - Final Assay Results: Final assay results have now been received for hole CSD‐13‐001 and have resulted in the upgrade of four intervals (Table 1). The continuity of copper mineralization including the higher‐grade zones is indicative of a well‐mineralized and potentially large porphyry system.

Table 1 - Final assay results for CSD-13-001

Hole ID Depth From DepthTo Interval Cu_% Au_g/t Comment
CSD-13-001 16 318 302 0.39 0.48 Intersection upgraded
CSC-13-001 16 120 104 0.37 0.38
Incls. 50 84 34 0.46 0.50
Incls. 100 118 18 0.38 0.73
CSD-13-001 128 160 32 0.17 0.09
CSD-13-001 188 212 24 0.32 0.06
CSD-13-001 222 322 100 0.65 1.00 Intersection upgraded
Incls. 226 284 58 0.96 1.67 Intersection upgraded
Incls. 232 248 16 1.87 3.25 Intersection upgraded

SolGold Plc holds a 50% interest, and can earn up to an 85% interest, in Exploraciones Novomining S.A. ("ENSA"), the Ecuadorian subsidiary of Cornerstone that holds 100% the Cascabel concession.

The Cascabel project is located in north-western Ecuador in an under-explored northern section of the richly endowed Andean Copper Belt, 60 km northeast of the undeveloped NI 43-101 compliant inferred resource of 982 million tonnes at 0.89% Cu Junin copper project.

The Alpala Prospect exhibits surface mineralization and alteration patterns indicative of porphyry copper-gold systems and has a similar footprint to large porphyry systems around the world.

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 and has reviewed and approved the information contained in this news release.

Logging, sampling and assaying

Hole CSD 13-001 was drilled using HTW core size (7.1 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD's), specific density and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified using an on-site portable spectrometer. Core is then sawed in half at Cornerstone's core logging facility and half of the core is delivered by Cornerstone employees for preparation at Acme Analytical Laboratories (ACME) affiliate laboratory in Cuenca. Core samples are prepared crushing 1 kg to 80% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 0.075 mm (200 mesh) (ACME code R200-250). Prepared samples are then shipped to ACME in Vancouver, Canada where samples are assayed for a multi-element suite (ACME code 1E, 0.25g split, 4-acid digestion, ICP-ES finish). Over limit results for Ag (> 100 g/t), Cu, Pb and Zn (each one > 1%) are systematically re-assayed (ACME code 7 TD1 or 7 TD2, 4-acid digestion, ICP-ES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA or ICP-ES finish (ACME code G601).

Quality assurance / Quality control (QA/QC)

The ACME affiliate preparation facility in Cuenca was audited by Cornerstone prior to the start of the drilling program and ACME is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 15 samples) as part of Cornerstone's QA/QC program. Rejects, a 100 g pulp for each core sample and the remaining half-core are stored for future use and controls.

About Cornerstone:

Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Ecuador and Chile, and a strong technical team that has proven its 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 joint venture partnerships. Commitments from JV partners constitute significant validation of the strength of Cornerstone's projects.

Further information is available on Cornerstone's website: www.cornerstoneresources.com and on Twitter.

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 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,

Brooke Macdonald, President and CEO

Further information is available on the Cornerstone Web site at www.cornerstoneresources.com; via e-mail at communications@crigold.com; or toll free at 1-877-277-8377.

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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