|By Marketwired .||
|January 31, 2013 08:01 AM EST||
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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:
Email: [email protected]
North America toll-free: 1 (877) 277-8377
The link to a recent Corporate presentation is:
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.
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
May. 25, 2016 10:15 AM EDT Reads: 272
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
May. 25, 2016 10:00 AM EDT Reads: 1,817
SYS-CON Events announced today that 24Notion has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. 24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to con...
May. 25, 2016 09:45 AM EDT Reads: 1,698
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
May. 25, 2016 07:15 AM EDT Reads: 1,133
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
May. 25, 2016 04:45 AM EDT Reads: 2,437
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
May. 25, 2016 04:45 AM EDT Reads: 864
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
May. 25, 2016 04:15 AM EDT Reads: 3,043
Korean Broadcasting System (KBS) will feature the upcoming 18th Cloud Expo | @ThingsExpo in a New York news documentary about the "New IT for the Future." The documentary will cover how big companies are transmitting or adopting the new IT for the future and will be filmed on the expo floor between June 7-June 9, 2016, at the Javits Center in New York City, New York. KBS has long been a leader in the development of the broadcasting culture of Korea. As the key public service broadcaster of Korea...
May. 25, 2016 04:00 AM EDT Reads: 1,707
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
May. 25, 2016 04:00 AM EDT Reads: 1,080
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
May. 25, 2016 02:00 AM EDT Reads: 1,148
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
May. 24, 2016 11:45 PM EDT Reads: 850
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
May. 24, 2016 06:00 PM EDT Reads: 4,677
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
May. 24, 2016 05:00 PM EDT Reads: 1,861
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
May. 24, 2016 04:00 PM EDT Reads: 2,368
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
May. 24, 2016 04:00 PM EDT Reads: 1,696
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
May. 24, 2016 02:15 PM EDT Reads: 2,095
SYS-CON Events announced today the How to Create Angular 2 Clients for the Cloud Workshop, being held June 7, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified. Now it’s a component-based well-performing framework. The immersive one-day workshop led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and...
May. 24, 2016 02:00 PM EDT Reads: 3,875
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...
May. 24, 2016 01:45 PM EDT Reads: 1,397
IoT generates lots of temporal data. But how do you unlock its value? How do you coordinate the diverse moving parts that must come together when developing your IoT product? What are the key challenges addressed by Data as a Service? How does cloud computing underlie and connect the notions of Digital and DevOps What is the impact of the API economy? What is the business imperative for Cognitive Computing? Get all these questions and hundreds more like them answered at the 18th Cloud Expo...
May. 24, 2016 01:45 PM EDT Reads: 2,083
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide 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 ...
May. 24, 2016 01:30 PM EDT Reads: 1,782