MOUNT PEARL, NEWFOUNDLAND -- (Marketwired) -- 05/01/13 -- Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE: CGP) (FRANKFURT: GWN) (BERLIN: GWN) (OTCBB: CTNXF) is pleased to provide a further update on recent developments at the Cascabel Project in northern Ecuador as it prepares for drilling on the Cascabel concession. The 5,000 hectare Cascabel Project is optioned to SolGold Plc, which can earn up to an 85% interest in the Project (see news release dated February 19, 2013). SolGold is directing the exploration program and Cornerstone is implementing the program.
-- 3D magnetic modelling supports the presence of a copper and gold rich magnetic core zone at the apex of a deep regional intrusion feeding copper gold rich solutions to Cascabel-- Magnetic core zone covers an area of 1000m x 500m under the clay-silica- pyrite cap south east of the outcropping rich copper gold Alpala zone at Cascabel-- Geochemical trenching and mapping confirms mineral zonation typical of a predictable rich porphyry copper gold system-- The extent of surface copper and gold mineralization, and accompanying clay, pyrite and silica cap rocks cover most of an area of 2km2-- A very significant copper-gold porphyry target is supported by 3D magnetic data, surface alteration mapping and the extent of copper-gold- molybdenum anomalism in soil sampling data-- Very strong support received from Cascabel communities and provincial institutions during the EIS social participation process-- Drill permitting well advanced-- Drill contractor selection during May
Cascabel Project Update
Recent 3D inversion modeling of helimagnetic survey data over the Cascabel concession has been undertaken by Moore Geophysics (Melbourne, Australia) to map the 3D geometry of the magnetic bodies below the outcropping copper and gold rich Alpala porphyry mineralization. The modeling has defined an interpreted intrusive batholith at depth, with a magnetic apophyse or protrusion extending close to the current land surface east of the area of mineralized trenches at Alpala. Cornerstone has reason to believe that this magnetic apophyse may represent part of the magnetic core of the Alpala porphyry system, and this has assisted with the definition of planned holes for the upcoming drilling program.
Several other targets on the property have also been modeled and results will be released in the near future.
Cornerstone has received assays from seven additional areas of channel sampling at the Alpala porphyry copper-gold prospect. These areas all lie within the pyritic argillized cap-rocks that overlie the erosionally-exposed window of quartz stockwork veining that was previously reported as being highly mineralized. The best intersection in these cap rocks was in trenches TH64B-D which assayed 63.03m @ 0.18 g/t Au and 0.19% Cu, including 12.67m @ 0.42 g/t Au and 0.16% Cu. These recent results have allowed Cornerstone to understand the geometry of the high grade stockwork mineralization in greater detail. Channel sampling is continuing over a broader swathe of terrain around the exposed Alpala stockwork veins to further understand the distribution of mineralization at surface.