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Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announces the following update on the drilling results of holes 23R-D1 and 24-D1R, and the progress of drilling, at the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador. As quoted in the press release: HIGHLIGHTS: Hole 23R-D1 (Alpala Central) assay results return …
Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) announces the following update on the drilling results of holes 23R-D1 and 24-D1R, and the progress of drilling, at the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador.
As quoted in the press release:
HIGHLIGHTS:
Hole 23R-D1 (Alpala Central) assay results return 695.1m1 grading 1.37% copper equivalent2 (0.72% copper, 1.02 g/t gold) from 694.9m, including 458.0m grading 1.68% copper equivalent (0.88% copper, 1.26 g/t gold) from 838.0m.
Hole 24-D1R (Alpala Southeast) final assay results return 512.9m grading 0.53% copper equivalent (0.34% copper, 0.30 g/t gold) from 755.2m, including 262.8m grading 0.86% copper equivalent (0.52% copper, 0.53 g/t gold) from 755.2m.
Hole 23R-D1 extends known mineralization in the central portion of the Alpala Deposit approximately 90m east.
Hole 24-D1R extends Alpala Southeast mineralization beneath Hole 24 by approximately 130m and is interpreted to represent the upper portions of a strongly mineralized porphyry system at depth. Further drill testing at Alpala Southeast by Rigs 2 and 3 is underway.
Drilling program to be further expanded to 12 drill rigs by January 2018. Man-portable drill rigs 6 and 7 have arrived at Cascabel. Second and third drilling contractors signed with rigs 8, 9, 10 and 11 scheduled for arrival November 2017 and rig 12 in January 2018.
Geophysical 3DIP survey is on schedule with completion of the Spartan portion (magneto telluric to 3 km depth), and commencement of the Orion portion (conductivity and resistivity to 2 km depth) of the state of the art hybrid survey. Data processing and final results are expected mid-November 2017.
Re-processing and maturation of 3D MVI magnetic models over the greater Alpala area, Aguinaga, Tandayama-America, and Chinambicito nears completion with final targeting expected to be available mid-October.
Assays for holes 26-D1, 26-D2, 28, 29, 29-D1, 29-D2, 30, 30-D1, 31, 31-D1 and 32 remain pending.
