MOUNT PEARL, NEWFOUNDLAND -- (Marketwire) -- 01/24/13 -- Cornerstone Capital Resources Inc. ("Cornerstone") (TSX VENTURE: CGP) (FRANKFURT: GWN) (BERLIN: GWN) (OTCBB: CTNXF) today announced that channel sampling at the Alpala Prospect within the Cascabel Project in Ecuador has returned highly encouraging gold and copper assays and confirmed the presence of a significant gold-copper porphyry system. The 5,000 hectare Cascabel Project is optioned to SolGold Plc (AIM code: SOLG), which is earning a 65% initial interest in the Project by spending $7.8 million over 4 years. SolGold is directing the exploration program and Cornerstone is implementing the program.
Channel sampling was undertaken across an outcropping window of the gold-copper porphyry system which is exposed along Alpala Creek. The mineralized dacite porphyry intrusive exhibits stockwork and sheeted quartz veins containing copper sulphides comprising chalcopyrite, bornite and chalcocite (see Figure 2 at http://www.cornerstoneresources.com/i/pdf/NR13-02Cascabel.pdf). The outcropping zone is covered by scree and vegetation at both ends and so mineralization is open.
Highlights:
-- 45.63 m at 0.81 g/t gold and 0.59% copper in channel TR46-- Last 2 m sample at northern end contains 0.15 g/t gold and 0.4% copper-- Last 2 m sample at southern end contains 0.53 g/t gold and 0.48% copper-- Peak 1 m interval returned a gold assay of 6.89 g/t, and a copper assay of 1.7%-- Average grade of 0.66 g/t gold and 0.56% copper with the peak intersection removed - this underscores the potential for a bulk mineralized porphyry system
A nearby channel (TR49) also returned 22 m at 0.16 g/t gold and 0.3% copper, and another (TR47) returned 5.48 m at 0.75 g/t gold (see Figure 1 in link above and Table 1 below for complete results).
The Alpala Prospect is located within the T1 target which has been identified on the basis of geological and alteration mapping, a compelling magnetic signature and coincidence with strong surface geochemistry (copper, gold and molybdenum). The T1 target is roughly circular with a diameter of 2 km signature (refer to News Release on December 20, 2012).
Stockwork veining has been observed in reconnaissance exploration in the general Alpala area up to 200 m away from the current area of channel sampling. Ongoing exploration will focus on mapping and sampling of these other areas where the porphyry system is exposed.
Table 1. Assay results for 6 channel sampling areas at the Alpala Prospect.
Channel No. Width (m) Gold (g/t) Copper (%)----------------------------------------------------------------------------TR46 45.63 0.81 0.59----------------------------------------------------------------------------TR47 5.48 0.75 0.06----------------------------------------------------------------------------TR48 13.22 0.06 0.08----------------------------------------------------------------------------TR49 22.39 0.16 0.30----------------------------------------------------------------------------TR50 9.98 0.10 0.04----------------------------------------------------------------------------TR51 24.13 0.04 0.03----------------------------------------------------------------------------
