Cornerstone Capital Resources Takes on Agressive Cost-Cutting Measures

Cornerstone Capital Resources Inc. (TSXV:CGP, OTCBB:CTNXF) provided updates on their 2013 strategy, including some cost cutting measures and exploration focus.

As quoted in the press release:

On March 25^th, 2013, the Company and partner SolGold plc announced the results of follow-up channel sampling at the Alpala prospect at Cornerstone’s Cascabel copper-gold property in northern Ecuador, which is the subject of an option agreement with SolGold plc, including trench TH56A grading 1.16 g/t Au and 0.34% Cu over 56.93 metres.

Cornerstone’s President, Brooke MacDonald, said:

This past year has been a difficult one for Cornerstone and its shareholders. However, we have taken a wide range of measures to significantly reduce our cash burn rate and exploration is on-going on partner funded projects such as the Cascabel copper-gold project in Ecuador and the Cape Ray gold-silver project in Newfoundland. Drill testing of high priority targets is expected on both of these projects in 2013, and we are continuing to aggressively seek joint venture partners to fund exploration on our wholly-owned projects in Ecuador and Chile.

To view the whole press release, click here.