Cornerstone Releases Cascabel Exploration Update

Cornerstone Capital Resources (TSXV:CGP) has announced an update on the exploration program at its Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15 percent interest financed through to completion of a feasibility study.

Cascabel is in northern Ecuador in what Cornerstone calls an under explored region of the Andean copper belt. Aproximately 114,000 m of drilling has been completed on the project, with 12 rigs currently active on site split between two clusters, Alpala and Aguiñaga.

As highlighted in the press release:

• Drilling at Alpala extends high-grade resource along the deep northeast margin of the deposit, where Hole 41-D1 final assay results returned 756m (true width 302.4m) at 0.82 percent copper equivalent from 998m depth, including 380m m at 1.20 percent copper equivalent from 1282 depth, and 252m m at 1.53 percent copper equivalent from 1346m depth.
• Drilling at Alpala extends high-grade resource along the southwest margin of the deposit. Hole 42-D2 and Hole 44 final assay results returned 278m (true width 111.2m) at 0.83 percent copper equivalent from 312m depth, including 52.5m (true width 21m) at 1.63 percent copper equivalent from 312m depth, and 342m (true width 136.8m) at 0.38 percent copper equivalent from 800m depth, respectively.
• Infill and extension drilling proximal to high grade core of the Alpala Deposit. Hole 53 is currently intersecting copper mineralization, extending the southeast margin of the deposit, while infill Hole 43 final assay results returned 974m (true width 389.6m) at 0.71 percent copper equivalent from 600m depth, including 478m (true width 191,2m) at 1.02 percent copper equivalent from 932m depth and 160m (true width 64m) at 1.56 percent copper equivalent, from 1108m depth.
• Extension drilling at Alpala Northwest and Alpala Southeast continues to add significant growth to the Alpala deposit. Holes 49, 37-D1, 36-D1, and 39-D1 final assay results returned, respectively:
  • 302m (true width 120.8m) at 1.04 percent copper equivalent from 872m, including 120m (true width 48m) at 1.57 percent copper equivalent from 890m depth,
  • 549.3m (true width 219.7m) at 0.43 percent copper equivalent from 1398m depth, including 101.3m (true width 40.5m) at 0.60 percent copper equivalent from 1846m, open at depth),
  • 652.7m (true width 261.1m) at 0.41 percent copper equivalent from 1574m depth, including 138m (true width 55.2m) at 0.49 percent copper equivalent from 1980m depth, and
  • 192m (true width 76.8m) at 0.43 percent copper equivalent from 1006m depth, including 74m (true width 29.6m) at 0.61 percent copper equivalent from 1116m depth.
• Drilling at the Trivinio prospect intersected copper sulphide mineralization in Hole 49 from 1412m to 1641m depth. Assay results remain pending and further drill testing is in progress.
• Aguiñaga drilling building potential for second porphyry deposit at Cascabel, as drill testing continues on 2 of 5 targets identified at Aguiñaga.
• Aguiñaga Holes 1 and 2 assay results have thus far respectively returned:
  • 218m (true width 87.2m) at 0.45 percent copper equivalent from 374m depth, including 122m (true width 48.8m) at 0.52 percent copper equivalent from 388m depth
  • 58m (true width 23.2m) at 0.58 percent copper equivalent, open at depth. Final assay results pending.

Click here to view the full Cornerstone Capital Resources (TSXV:CGP) press release.