IKN

a consummation devoutly to be wish'd

Mining PRs and the Ottotrans™, part 82

In the weird and wonderful world of the junior mining NR, there’s a specific sub-category that shows up in the middle of February and today, Cornerstone Capital (CGP.V) has offered us a classic example of this type of NR. Due to their kindness IKN is today able to condense ONE THOUSAND FOUR HUNDRED AND EIGHTY-ONE WORDS DOWN TO JUST FIVE, which could be a new site record.

This is what they wrote:

MOUNT PEARL, NEWFOUNDLAND–(Marketwired – Feb. 20, 2014) – Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSX VENTURE:CGP)(CTNXF)(GWN.F)(GWN.BE) announces
the following project update for the Stage 1 drill program at the
Alpala prospect within the Cascabel Project at the Company’s copper-gold
porphyry exploration project in northern Ecuador.
Highlights:
  • Strongly
    visible porphyry copper sulphide mineralization continues to current
    hole depth of 1303.5m in hole 5. Copper-rich sulphides include
    chalcopyrite, bornite and chalcocite as fine to coarse grained
    disseminations and in veins with magnetite.
  • Strong
    correlation evident between magnetite content, magnetic characteristics
    and copper sulphide contents enabling correlation between the three
    dimensional Alpala magnetic model and copper-gold porphyry targets.
  • Drilling to continue to sooner of 1500m depth or end of copper mineralization (1500m depth expected to be reached in 10 days).
  • 324m of core dispatched for urgent assay. Results expected within 14 days.
  • Large size and strong copper-gold porphyry system
    indicated with over 1300m of near-continuous visible copper sulphide
    mineralization and classic porphyry system geological features.

References to figures related to the version of this release on the Company’s website (www.cornerstoneresources.com) or visible in PDF format by clicking the link below:
http://www.cornerstoneresources.com/i/pdf/NR14-04Figures.pdf

Brooke Macdonald, Cornerstone’s
President & CEO, commented that “the deepening of Hole CSD 13-005
continues to show strong alteration and mineralization. The size and
intensity of the alteration and mineralization processes are very
impressive. To our knowledge, this hole is the deepest mineral
exploration hole ever drilled in Ecuador. Other very significant
indicators of the huge potential of the Alpala target are the
distribution of copper over the entire present length of the hole (to
date at 1303.5m), the close association of gold to copper of the
gold-enriched porphyry mineralization, and the strong correlation of
magnetic minerals with gold and copper mineralization opens large and
new areas to explore as outlined by the 3D magnetic model.
From an economic viewpoint, the
Cascabel project is very well located in northern Ecuador, accessible by
a paved road from the capital city, linked to the Esmeraldas large port
facility by a 222 km paved road, available electrical power (8
hydroelectric plants under construction) and Ecuador will be exporting
electricity surplus by 2017. It is assumed that the old Ibarra-San
Lorenzo (small port city 96 km west of Cascabel) railroad crossing the
northern part of the concession could eventually be rehabilitated to
service the project if needed in the future.”

Drill Hole CSD-13-005

CSD-13-005 was sited to test the
depth and lateral extent of bulk-style copper and gold mineralization
encountered in holes 1 and 2 at the Alpala prospect. Copper and gold
assay results have been received to a depth of 869.68 metres as reported
on January 14th. A strong relationship between copper and gold mineralization and magnetic character is indicated to date.
Hole CSD-13-005 resumed drilling from 869.68m depth on January 28th. On February 10th,
the Company announced the observation of coarse-grained chalcopyrite
mineralization from 869.68m to 1106.80m depth. From 869.68m to 1106.80m
the hole intersected potassically altered porphyry style rocks with
intense potassic alteration and veining ranging between 10-30 veins per
metre, with variable fine to coarse grained copper sulphide fill and
disseminated copper sulphides (chalcopyrite, bornite, chalcocite).
As of February 19th
the hole has reached a current depth of 1303.50m and strong copper
mineralization has continued to be encountered to the current hole depth
of 1303.5m. This latest extension to Hole CSD-13-005 continues to
encounter coarse grained chalcopyrite mineralization in sulphide-rich
veins (‘C’-veins) as well as widespread disseminations of chalcopyrite,
bornite and chalcocite (see Figures 1-7). Magnetite and anhydrite, which
also characterize the potassic zone of porphyry systems, continue to be
observed in this interval. 
Figures 1 to 7 are photographs of mineralized core at select intervals between 1108m and 1279.60m depth.

A total of 324m of samples (from 869.68m to 1194m depth) have been forwarded to the assay laboratory for priority assay.

Hole 5 will continue to be
drilled until the sooner of either when 1500m depth is reached, or when
copper mineralization is observed to significantly diminish.
About Cascabel
SolGold Plc currently 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 tons at 0.89% Cu
Junin copper project.
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
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.
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: http://www.cornerstoneresources.com/ and on Twitter. For investor, corporate or media inquiries, please contact:
Investor Relations:
Email: ir@cornerstoneresources.ca
North America toll-free: 1 (877) 277-8377
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
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.


Contact:

Cornerstone Capital Resources Inc.
Toll Free: 1-877-277-8377
communications@crigold.com
www.cornerstoneresources.com

And this is what it means:

No assay results before PDAC

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.