|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.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
May. 27, 2015 04:00 PM EDT Reads: 6,746
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust IT industrialization – allowing customers to provide amazing user experiences with optimized IT per...
May. 27, 2015 03:30 PM EDT Reads: 1,014
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
May. 27, 2015 02:00 PM EDT Reads: 2,116
The world is at a tipping point where the technology, the device and global adoption are converging to such a point that we will see an explosion of a world where smartphone devices not only allow us to talk to each other, but allow for communication between everything – serving as a central hub from which we control our world – MediaTek is at the heart of both driving this and allowing the markets to drive this reality forward themselves. The next wave of consumer gadgets is here – smart, connected, and small. If your ambitions are big, so are ours. In his session at @ThingsExpo, Jack Hu, D...
May. 27, 2015 12:49 PM EDT Reads: 701
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data retrieval. They can easily adapt to new data sets and provide access to both structured and unstruc...
May. 27, 2015 12:00 PM EDT Reads: 2,364
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
May. 27, 2015 12:00 PM EDT Reads: 2,404
We’re entering a new era of computing technology that many are calling the Internet of Things (IoT). Machine to machine, machine to infrastructure, machine to environment, the Internet of Everything, the Internet of Intelligent Things, intelligent systems – call it what you want, but it’s happening, and its potential is huge. IoT is comprised of smart machines interacting and communicating with other machines, objects, environments and infrastructures. As a result, huge volumes of data are being generated, and that data is being processed into useful actions that can “command and control” thi...
May. 27, 2015 11:51 AM EDT Reads: 674
As the Internet of Things unfolds, mobile and wearable devices are blurring the line between physical and digital, integrating ever more closely with our interests, our routines, our daily lives. Contextual computing and smart, sensor-equipped spaces bring the potential to walk through a world that recognizes us and responds accordingly. We become continuous transmitters and receivers of data. In his session at @ThingsExpo, Andrew Bolwell, Director of Innovation for HP's Printing and Personal Systems Group, discussed how key attributes of mobile technology – touch input, sensors, social, and ...
May. 27, 2015 11:30 AM EDT Reads: 4,369
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
May. 27, 2015 11:15 AM EDT Reads: 2,828
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
May. 27, 2015 10:30 AM EDT Reads: 1,381
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
May. 27, 2015 10:30 AM EDT Reads: 5,507
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fil...
May. 27, 2015 10:00 AM EDT Reads: 2,283
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
May. 27, 2015 09:30 AM EDT Reads: 4,675
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
May. 27, 2015 09:30 AM EDT Reads: 7,168
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
May. 27, 2015 07:30 AM EDT Reads: 5,757
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
May. 27, 2015 04:30 AM EDT Reads: 4,366
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
May. 27, 2015 03:00 AM EDT Reads: 6,037
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
May. 27, 2015 02:30 AM EDT Reads: 5,702
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
May. 27, 2015 02:00 AM EDT Reads: 6,456
Collecting data in the field and configuring multitudes of unique devices is a time-consuming, labor-intensive process that can stretch IT resources. Horan & Bird [H&B], Australia’s fifth-largest Solar Panel Installer, wanted to automate sensor data collection and monitoring from its solar panels and integrate the data with its business and marketing systems. After data was collected and structured, two major areas needed to be addressed: improving developer workflows and extending access to a business application to multiple users (multi-tenancy). Docker, a container technology, was used to ...
May. 27, 2015 01:00 AM EDT Reads: 2,666