MOUNT PEARL, NEWFOUNDLAND -- (Marketwired) -- 06/13/13 -- 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).
-- Receipt of additional surface channel sample assay results at the Alpala Prospect has extended the area of outcropping copper gold mineralization to greater than 400 metres by greater than 200 metres-- Final Environmental Impact Assessment ("EIA") submitted to the Ministry of Environment-- Finalization of drill hole locations at Alpala Prospect for Phase 1 drilling-- Upgrading of access tracks and infrastructure for drill rig mobilisation and drill program near completion-- Four other target areas within the Cascabel concession remain to be investigated for future drill testing
Recent Follow-up Channel Sampling Results at the Alpala Prospect
The surface extent of copper and gold mineralization at the Alpala Prospect continues to grow. The area of associated intense clay-silica-pyrite (acid alteration) also referred to as a "lithocap" occurs over approximately two square kilometres. The lithocap overlies the copper-gold porphyry target.
On 25th March and 1st May, the Company announced results of follow-up channel sampling at the Alpala porphyry copper-gold prospect within the Cascabel concession in Ecuador. These results yielded highly encouraging copper and gold assay values from surface sampling. The results significantly expanded the copper-gold quartz-sulphide stockwork zone at Alpala. This zone occurs within an erosional window that at the time exposed mineralised dacite porphyry over an area of approximately 220 metres by 120 metres. In May, the Company also announced that 3D magnetic modelling had identified a magnetic apophysis (a geological term for a tapering offshoot from a larger and deeper igneous intrusion) located centrally below the lithocap at Alpala. The presence of this magnetic feature supports the interpretation that copper and gold rich solutions sourced from a deep regional intrusion have focussed around this apex. This magnetic apex covers an area of at least 1000 metres by 500 metres under the clay-silica-pyrite lithocap and occurs below and adjacent to the outcropping copper-gold stockwork zone at Alpala. Geochemical channel sampling and geological mapping confirms mineral zonation typical of a classic copper-gold rich porphyry system.
Additional follow-up channel sampling was conducted during April, within the area of mineralization at central Alpala and also at higher elevation in the lithocap to the northeast, south and west of Alpala. This most recent phase of follow-up sampling has expanded the area of copper and gold mineralization at surface to an area of up to 430 metres by 200 metres (Figure 1 - All figures found at http://www.cornerstoneresources.com/i/pdf/NR13-10Figures.pdf.)