Cornerstone Capital Resources Inc.: SolGold Elects to Increase Ownership to 85%
MOUNT PEARL, NEWFOUNDLAND -- (Marketwired) -- 02/25/14 -- Cornerstone
Capital Resources Inc. ("Cornerstone" or "the Company") (TSX
VENTURE:CGP)(OTCBB:CTNXF)(FRANKFURT:GWN)(BERLIN:GWN) announces that
it has received notice from SolGold Plc electing to increase their
equity ownership in Exploraciones Novoming S.A. ("ENSA") to 85%.
SolGold will hold 85% interest in ENSA, the Ecuadorian subsidiary of
Cornerstone that holds 100% of the Cascabel concession. SolGold must
subscribe to CAD$250,000 of shares in Cornerstone at $0.10 per share,
subject to TSX-V approval, and give Cornerstone CAD$100,000 of
SolGold shares to increase the ownership to 85%.
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 tons at 0.89% Cu Junin copper project.
Drill Hole CSD-13-005 Update
CSD-13-005 has been terminated at 1,370 metres due to difficult
ground conditions. Assays from 869.5m to 1,194m are expected within a
week, and assays from 1,194m to 1,330m have been dispatched to the
assay lab and results are expected within 10 days. The last 40m will
be sent to the lab shortly.
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
Holes referred to in this release were or are being drilled using
HTW, NTW and NQ core sizes (respectively 7.1, 5.6 and 4.8 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 (greater
than 100 g/t), Cu, Pb and Zn (each one greater than 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.
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
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,
Brooke Macdonald, President and CEO
Further information is available on the Cornerstone Web site at
www.cornerstoneresources.com; via e-mail at
firstname.lastname@example.org; 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.
For investor, corporate or media inquiries, please contact:
Cornerstone Capital Resources Inc.
North America toll-free: 1 (877) 277-8377
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