(i) Cu value cut to 10% in one sample.
The high grade intersections (greater than 0.3 g/t Au (up to 1.16 g/t Au) and greater than 0.3% Cu (up to 0.96% Cu)) are associated with the outcropping window of more intense quartz stockwork veining (Table 1). This zone of mineralized quartz stockwork veins is exposed within the erosional hollow of the Alpala creek, which has cut down to locally expose a small part of a much larger zone of underlying stockwork veining. This zone of higher grade copper and gold is anticipated to extend under cover in all directions and at depth at Alpala (Figures 4 and 6).
The lower grade intervals (0.1-0.3 g/t Au and 0.1-0.3 % Cu) are associated with the transition between the underlying intense quartz stockwork veining and the overlying barren zone where quartz veins are absent. In this peripheral zone of the quartz stockwork shell, the quartz vein intensity is weak, accounting for the lower copper and gold grades. The zones of extremely low grade are associated with the argillic (clay) altered capping rocks that contain networks of oxidized pyrite veins (Figures 5 and 6). These rocks dominate the areas of higher elevation and conceal the larger Alpala porphyry system. These zonal relationships typify the zonation in most of the world's intact classic copper gold porphyry systems.
These results and the developing geological understanding at Alpala gives Cornerstone geologists high confidence that the project is located on the apex of a large and rich copper-gold porphyry system, most of which is preserved below the current level of erosion, and concealed by the argillic-altered cap-rocks north west and south east of Alpala.
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.
Preparation for drilling program at Alpala
Six drilling contractors have been invited to tender for the Phase 1 drilling program at Cascabel and have visited the Cascabel concession and Alpala prospect. Quotations have been received and are currently being evaluated.
The drill contract will be awarded in early May. Logistic preparations for the drilling program are well underway. The Phase 1 drill program will comprise 6 drill holes, for a total program of 2800m. Preliminary selection of drill site locations has been completed, and access on the ground is currently being assessed for suitability for drill pad construction.
The water permitting is well advanced. Permits are expected to be granted in the next two weeks.
Cornerstone and its partner SolGold Plc continue to progress through the regulatory requirements for issue of the Environmental License, which allows advanced exploration including drilling. The EIA (Environmental Impact Study) was presented to the provincial government regulatory agencies in Ibarra on April 22 and to the Cascabel area communities on April 26. The Project received very strong support at both events. Drilling is allowed to commence immediately upon approval of the EIS.
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada, 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.
The technical information contained in this news release has been reviewed and approved by Yvan Crepeau, P.Geo., President of Cornerstone Ecuador S.A. and Minera Cornerstone Chile Limitada (Ecuadorian and Chilean projects), a qualified person in accordance with National Instrument 43-101.
Further information is available on Cornerstone's website: www.cornerstoneresources.com or for investor, corporate or media inquiries, please contact:
North America toll-free: 1 (877) 277-8377
The link to a recent Corporate presentation is: http://www.cornerstoneresources.com/i/pdf/Presentations_0912_CRICorporate.pdf
Investors can also access Cornerstone on Twitter.
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.
Cornerstone Capital Resources Inc.
Toll Free at 1-877-277-8377
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