Welcome!

Agile Computing Authors: Yeshim Deniz, Pat Romanski, Elizabeth White, Liz McMillan, Ed Featherston

News Feed Item

Cornerstone Provides Exploration Update

MOUNT PEARL, NEWFOURNDLAND -- (Marketwire) -- 01/31/13 -- Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE:CGP) (FRANKFURT:GWN) (BERLIN:GWN) (OTCBB:CTNXF) today provided an update on the status of key exploration projects in Ecuador, Chile and Canada.

ECUADOR

Cascabel

On January 24th, the Company and partner SolGold Plc announced that recent channel sampling at the Alpala Prospect within the Cascabel Project in northern Ecuador has returned highly encouraging gold and copper assays and confirmed the presence of a significant outcropping gold-copper porphyry system. Channel TR46 returned 45.63 m at 0.81 g/t gold and 0.59% copper. Grades across the entire channel are very consistent, indicating the potential for a bulk mineralized porphyry system. Furthermore, the TR46 mineralized section is covered by scree and vegetation at both ends and is therefore completely open.

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. Results of a follow-up soil geochemistry survey are expected in February and final data for the helicopter-borne magnetic and radiometric survey has been received and processed. Further modelling and targeting is underway, and areas for 3-D modelling have been identified. The permitting process in the lead up to drilling is progressing well, with initial drilling expected to begin in early Q2.

Shyri

The Company has completed a thorough review of exploration results at the Gama prospect and is considering future plans for this northern portion of the Shyri property following Intrepid Mines Limited's decision to terminate the Shyri option agreement, which was announced on December 14th, 2012. Meanwhile, approvals which are required to commence Phase 1 drilling at both the Vetas Grandes and Canaribamba epithermal prospects located in the southern part of the property are expected to be received in Q2 following the Ecuadorian Presidential elections scheduled for mid-February. The Company will continue to seek a new partner to fund exploration on these targets, which are drill-ready and provide excellent opportunities for a significant discovery.

Cana Brava

On December 20th, 2012, the Company announced results from prospecting and geological mapping surveys carried out on its wholly owned Cana Brava property located in south-central Ecuador. The surveys have identified two large high-sulphidation (HS) epithermal gold-silver zones defined by extensive hydrothermal breccia and silicic ribs developed within an advanced argillic alteration lithocap. The West Zone (Cana Brava Breccia) is developed over a 2.5 km by up to 2.0 km area and is coincident with a 3 km by 1 km multi-element soil geochemistry anomaly. The East Zone shows a similar HS system measuring 1.75 km by 1.0 km which is open in most directions. A porphyry gold-copper target has also been identified beneath the Cana Brava Breccia. The Company is continuing to seek a partner to fund more advanced exploration programs on the property.

Macara

The Macara project located in southernmost Ecuador is subject to a strategic alliance between the Company and Newmont Ventures Limited, a subsidiary of Newmont Mining Corporation. Force majeure has been in effect since April 2008, and will remain so until an Environmental License is issued by the Ministry of Environment for the 1,452 hectare Bellavista concession. Exploration on the large (2,500 km2) surrounding Area of Interest (AOI) covered by the alliance is suspended until such time as the Ministry of Non-Renewable Natural Resources opens the area for new mineral concession applications.

Bella Maria

On May 11th, 2012, the Company announced that it has received authorization to resume activities on the Bella Maria project and provided a summary of results for exploration work carried out prior to the April 2008 Mining Moratorium. Initial results indicate that the property has excellent potential for hosting significant gold and copper mineralization. Stream sediment samples collected across the property are exceptionally anomalous in gold, and a large coincident gold- and copper-in-soil anomaly accompanied by porphyry style mineralization has been identified in the central part of the property. Four mineralized prospects have been identified. The Company is actively seeking a partner to fund an aggressive exploration program on the property.

La Encrucijada

Prospecting work carried out by the Company during 2012 confirmed results from previous property owners which indicates good potential for significant shallow epithermal gold-silver mineralization and porphyry gold-copper style mineralization at depth. Recent work has provided a much better understanding of the alteration and mineralization processes and their controls. The work also increased the size of the Alumbre prospect and discovered the new Potrerillos HS alteration zone. Three altered and mineralized zones are present on the property. Many anomalous float samples, stream sediment anomalies and soil anomalies (precious and base metals, epithermal pathfinders) still require follow up and offer potential for new discoveries. The Company is seeking a partner to jointly explore this property.

CHILE

La Fortuna

As announced on January 11th, 2013, the Company has returned the La Fortuna copper-silver property to its Chilean owner due to an inability to secure a partner to fund the second year option commitment.

Miocene

A regional exploration program was completed on the Miocene project during the first half of 2012. Alteration mapping using Aster (Advanced Spaceborne Thermal Emission and Reflection Radiometer) satellite imagery, combined with historical airborne magnetic survey data and regional geological and structural data, was used to define prospective areas for ground follow up. Reconnaissance geological mapping at a scale of 1:25,000, rock sampling and widely spaced soil sampling (2,000 m by 500 m and 1,000 m by 250 m) were carried out over a large area of 70,000 hectares (70 km2) covering exposed and altered bedrock and adjacent soil and gravel-covered pampas. Soil samples were analyzed utilizing a combination of analytical techniques designed to detect deep and/or buried mineralization. Geological mapping and spectrometry work better defined the alteration zones (type, size and distribution) that were identified by the Aster satellite imagery. Geochemical anomalies were defined for base metals, precious metals and pathfinder elements associated with porphyry gold-copper and epithermal gold-silver styles of mineralization. The Company is continuing to seek a partner to help advance exploration on this exciting early-stage project.

CANADA

Little Deer

Planned infill diamond drilling at the Little Deer copper deposit by the Company and 50% partner Thundermin Resources Inc. remains contingent on project financing. The drilling is designed to upgrade the Inferred Resources to the Indicated Resource category in order that a pre-feasibility study can be undertaken on the deposit.

Cape Ray

The Company and Benton Resources Inc. signed a definitive option agreement respecting the Cape Ray project on December 19th, 2012. Under the terms of the agreement, Benton has the ability to earn an initial 70% interest in the property by spending CAN$2 million on exploration, and making payments of CAN$125,000 and 155,000 shares over 4 years. Benton can earn an additional 5% (taking their interest to 75%) by incurring an additional CAN$1 million in exploration expenditures at its sole election but such election must be made within a period not exceeding 18 months from the date that Benton's interest vests at 70%.

Since September 2012, Benton has carried out re-logging and re-sampling of historical drill core which has led to the identification of a new gold zone termed the "PW Zone", which they interpret to be a possible strike extension of the Windowglass Hill deposit (National Instrument 43-101 inferred resources of 1,810,000 tonnes grading 1.77 g/t gold and 11.28 g/t silver, containing 103,001 ounces of gold and 656,415 ounces of silver(1)) located 1.2 km to the southwest. Re-sampling of historical drill core is continuing, and in December upgrades were carried out on the approximately 20 km gravel access road to the project site. Planned work by Benton during 2013 includes establishing a picketed control grid, ground geophysical surveys and diamond drilling of high priority targets.

(1) NI 43-101 Technical Report entitled "Mineral Resource Estimate Technical Report for the Cape Ray Au-Ag Property, Isle Aux Morts Area, Newfoundland and Labrador, Canada, July 16th, 2012" was prepared by Mr. Paul Teniere, P.Geo., and Mr. Andrew Hilchey, P.Geo., of Mercator Geological Services Limited, both whom are independent Qualified Persons in accordance with NI 43-101. The technical report can be viewed on the Company's website at http://www.cornerstoneresources.com/i/pdf/Properties_CR_43-101.pdf and on SEDAR.

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 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.

Qualified Person(s)

The technical information contained in this news release has been reviewed and approved by Terry Brace, P.Geo., Cornerstone's VP Exploration (Canadian projects) and Yvan Crepeau, P.Geo., President of Cornerstone Ecuador S.A. and Minera Cornerstone Chile Limitada (Ecuadorian and Chilean projects), both of whom are qualified persons 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:

Investor Relations:

Email: [email protected]

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.

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.

Contacts:
Cornerstone Capital Resources Inc.
Toll Free: 1-877-277-8377
[email protected]
www.cornerstoneresources.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settl...
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
JETRO showcased Japan Digital Transformation Pavilion at SYS-CON's 21st International Cloud Expo® at the Santa Clara Convention Center in Santa Clara, CA. The Japan External Trade Organization (JETRO) is a non-profit organization that provides business support services to companies expanding to Japan. With the support of JETRO's dedicated staff, clients can incorporate their business; receive visa, immigration, and HR support; find dedicated office space; identify local government subsidies; get...
"We view the cloud not as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo (http://www.CloudComputingExpo.com), held June 7-9 at the Javits Center in New York City, NY.
DXWorldEXPO LLC announced today that the upcoming DXWorldEXPO | CloudEXPO New York event will feature 10 companies from Poland to participate at the "Poland Digital Transformation Pavilion" on November 12-13, 2018.
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...