|By Marketwired .||
|May 2, 2014 08:00 AM EDT||
MOUNT PEARL, NEWFOUNDLAND -- (Marketwired) -- 05/02/14 -- Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE:CGP)(FRANKFURT:GWN)(BERLIN:GWN)(OTCBB:CTNXF) announces the following project update for the Stage 2 drill program at the Alpala prospect within the Cascabel Project at the Company's copper-gold porphyry joint venture exploration project in northern Ecuador.
-- Expansion, deepening and further refinement to magnetic modeling confirms multiple, large targets northwest, west and southeast of the current drilling at Alpala; -- Hole 6 completed to final depth of 1401.5 metres. Final Assays expected by mid May; -- Hole 7 location confirmed between 5 and 6 and drilling south-west; -- Planning for metallurgical tests underway for Hole 5 mineralization; -- Quantec "Orion" IP survey expected to commence within 2 weeks
Brooke Macdonald, Cornerstone's President & CEO said: "New geological information provided by Hole 6 and re-processing of the magnetic data are helping us to refine the overall exploration model at Alpala and, more importantly, clearly demonstrate the enormous size potential of this porphyry target. It is important to note that while Alpala is the most advanced target at Cascabel, it is only one of several targets still to be fully explored and drill tested on this 50 km2 concession".
References to figures related to the version of this release on the Company's website (www.cornerstoneresources.com) or visible in PDF format by clicking the link below:
3D Inversion Magnetic Modeling
The initial 3D inversion magnetic model at Alpala - which maps the distribution of magnetic rocks often associated with mineralized zones of porphyry systems - extended from surface to around 1100 metres depth. The initial model was created to assist in identifying targets that might be amenable to open-pit exploitation.
Following the recent discovery of high-grade copper and gold in Hole CSD-13-005 ("Hole 5") below the depth of the initial magnetic model, a refined and greatly expanded model was created for the Alpala region by Chris Moore of Moore & Associates (Aust) Pty. Ltd. This work is ongoing. The new magnetic model is extended to 2500 metres depth to identify high-grade targets that might be amenable to deeper block-cave underground mining. The new model is also being extended further to the west, to cover a larger area of the Alpala magnetic region. The result of this new modeling is not only a significant refinement in model accuracy, but it also allows SolGold to view the entire magnetic domain in three dimensions rather than just the shallow eastern domain.
Previous representations of the magnetic bodies at Alpala were constrained to areas less than 1100 metres in depth, and optimized for areas shallower than 600 metres, and mostly east of the area of current drilling where a magnetic apophyse was identified.
The new modeling is revealing a deeper and much more magnetic westward extension to these eastern anomalies. The new deeper model allows us to see previously unrecognized but more intense magnetic anomalies to the west and northwest of Hole 5. Very significantly, the high-grade porphyry copper-gold mineralization in Hole 5, which occurred in association with magnetite and high magnetic susceptibility readings in drill-core, now correlate well with the refined magnetic model (see Figure 2).
On Section 1 (Figure 2), the magnetic anomaly that coincides with the principal 688-metre-long high grade copper-gold intersection in Hole 5 extends and thickens markedly down-plunge towards the southwest. Significant volumes of magnetic rock are modeled in this region, and based on the results of Hole 5 are interpreted to be mineralized zones of magnetite-rich potassic alteration and which are potentially copper-gold bearing.
On Section 2 (Figure 3), located approximately 150m further to the northwest, a parallel vertical slice through the magnetic model shows a very similar geometry, with a thick wedge of modeled magnetic rock covering a significant and equivalent cross-sectional area as on Section 1.
Figures 4 and 5 present views of selected iso-surfaces from the new and refined inversion model, and illustrate the overall geometry of the magnetic bodies at Alpala. The robustness of this model is confirmed, not only, by the grade-model correlation in Figure 2, but also by the location of halo mineralization in Hole 3 just above the Southeast magnetic target, and similar halo grades at surface in the Quebrada Moran trenches which lie proximal to and above the Northwest magnetic target.
Figure 6 shows a northwest-southeast oriented long-section through the new Alpala magnetic model (see Figure 1 for long-section location).
It is apparent that the vertically extensive and high-grade copper-gold intersection in Hole 5 coincides well with the modeled, gently-dipping magnetic anomaly that lies at depths of around 800m to 1800m and that spans a strike length of over three kilometres.
Hole CSD-14-006 Update
Hole CSD-14-006 ("Hole 6") was terminated on the 20th April at 1401.5 metres depth. The location of Hole 6 is shown in Figures 1, 4 and 5.
The hole intersected a thick sequence of volcaniclastic breccias which were argillic-altered from surface to 471 metres depth, propylitic-altered from 471 to 965.5 metres depth, phyllic altered from 965.5 to 1111.5 metres depth and then potassic-altered with variable phyllic and propylitic overprint from 1111.5 to 1395.4 metres, before ending in intense phyllic alteration to end of hole. Looking at Figures 4 and 5 it is clear that Hole 6 drilled on the margins and to the east of the Central Zone.
Final assays are expected to be received by the Company by mid-May.
Hole CSD-14-007 Position Selected and Drill Rig Being Mobilized
The location for drill hole CSD-14-007 ("Hole 7") has been selected and the drill pad is currently being cleared. The hole is being collared to test the same magnetic anomaly in which Hole 5 intersected 1346m grading 0.61% Cu and 0.53 g/t Au from 24m depth and 688m grading 0.92% Cu and 0.90g/t Au from 658m depth.
The Hole 7 position will test the shallow northwest-trending mineralized structural zone (encountered in surface trenches and in Holes 1 and 5) about 150m northwest of Hole CSD-13-005 ("Hole 5"), and then continue deeper to test the magnetic body, which was highly mineralized in Hole 5. Hole 7 will be drilled sub-parallel to Hole 5, but at a location around 150 metres to the northwest, midway between Holes 5 and 6.
The location of Hole 7 relative to Hole 5 and the other holes at Alpala is shown on Figures 1 and 3-7.
Cornerstone's joint venture partner on the project, SolGold Plc, is planning to undertake preliminary metallurgical flotation testing on composites of mineralization from drill Hole 5, and a testing strategy and agreement with a commercial metallurgical laboratory will be finalized shortly.
Induced Polarization (IP) Survey
Equipment for the Orion DCIP-MT survey at Alpala has arrived in Quito, Ecuador, and is currently undergoing clearance in customs. When the approximately 4 tonnes of equipment has been cleared, it will be transported to the Rocafuerte field office in preparation for commencement of surveying.
Gridding, in preparation for the survey, is well advanced, with all required 108 line kilometres of gridding completed. An additional 10-12 days is required for final quality control on some grid-points prior to the survey being ready to commence.
A team of 13 Quantec expatriate personnel is expected to arrive in Ecuador during May to commence the survey. The setting up and running of the survey is anticipated to take 27 days to complete and is expected to be completed in June with final processed data products due during July.
Whilst conventional IP systems typically see to depths of around 400m, the Orion system can read chargeability to potential depths of 800m, and beyond if ground conditions are ideal. The Orion system can also read resistivity-chargeability data to potential depths of 2 kilometres using magneto-telluric measurements. The Orion system is a very sophisticated survey technique and will be used to map sulphide distribution across the entire recognized extent of the lithocap and magnetic anomalies at Alpala. The Orion system will provide a quantum leap in data density over conventional IP systems that are the industry norm.
SolGold Plc owns 85% of the equity of Exploraciones Novomining S.A. ("ENSA"), an Ecuadorean registered company that holds 100% of the Cascabel concession in northern Ecuador. Cornerstone owns the remaining 15% of ENSA, which also holds the rights to the La Encrucijada gold-silver project. SolGold is funding 100% of the exploration at Cascabel and is the operator of the project with Cornerstone Ecuador S.A. providing some exploration and administrative services. Cornerstone's 15% interest is financed through completion of a bankable feasibility study.
Cascabel is located in north-western Ecuador in an under-explored northern section of the richly endowed Andean Copper Belt, 60 km northeast of the undeveloped NI 43-101 compliant inferred resource of 982 million tons at 0.89% Cu Junin copper project.
Yvan Crepeau, MBA, P.Geo., Cornerstone's Vice President, Exploration and a qualified person in accordance with National Instrument 43-101, is responsible for supervising the exploration program at the Cascabel project and has reviewed and approved the information contained in this news release.
Logging, sampling and assaying
Holes referred to in this release were or are being drilled using HTW, NTW and NQ core sizes (respectively 7.1, 5.6 and 4.8 cm diameter). Geotechnical measurements such as core recovery, fracturing, rock quality designations (RQD's), specific density and photographic logging are performed systematically prior to assaying. The core is logged, magnetic susceptibility measured and key alteration minerals identified using an on-site portable spectrometer. Core is then sawed in half at Cornerstone's core logging facility and half of the core is delivered by Cornerstone employees for preparation at Acme Analytical Laboratories (ACME) affiliate laboratory in Cuenca. Core samples are prepared crushing 1 kg to 80% passing 2 mm (10 mesh), splitting 250 g and pulverizing to 85% passing 0.075 mm (200 mesh) (ACME code R200-250). Prepared samples are then shipped to ACME in Vancouver, Canada where samples are assayed for a multi-element suite (ACME code 1E, 0.25g split, 4-acid digestion, ICP-ES finish). Over limit results for Ag (greater than 100 g/t), Cu, Pb and Zn (each one greater than 1%) are systematically re-assayed (ACME code 7 TD1 or 7 TD2, 4-acid digestion, ICP-ES finish). Gold is assayed using a 30 g split, Fire Assay (FA) and AA or ICP-ES finish (ACME code G601).
Quality assurance / Quality control (QA/QC)
The ACME affiliate preparation facility in Cuenca was audited by Cornerstone prior to the start of the drilling program and ACME is an ISO 9001:2008 qualified assayer that performs and makes available internal assaying controls. Duplicates, certified blanks and standards are systematically used (1 control sample every 15 samples) as part of Cornerstone's QA/QC program. Rejects, a 100 g pulp for each core sample and the remaining half-core are stored for future use and controls.
Cornerstone Capital Resources Inc. is a well-funded mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in 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.
Further information is available on Cornerstone's website: www.cornerstoneresources.com and on Twitter. For investor, corporate or media inquiries, please contact:
Investor Relations: Email: [email protected] North America toll-free: 1 (877) 277-8377
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.
Containers are not new, but renewed commitments to performance, flexibility, and agility have propelled them to the top of the agenda today. By working without the need for virtualization and its overhead, containers are seen as the perfect way to deploy apps and services across multiple clouds. Containers can handle anything from file types to operating systems and services, including microservices. What are microservices? Unlike what the name implies, microservices are not necessarily small, but are focused on specific tasks. The ability for developers to deploy multiple containers – thous...
Sep. 3, 2015 10:00 PM EDT Reads: 179
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Sep. 3, 2015 10:00 PM EDT Reads: 485
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, November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be.
Sep. 3, 2015 08:30 PM EDT Reads: 151
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Sep. 3, 2015 04:30 PM EDT Reads: 429
The 3rd International WebRTC Summit, to be held Nov. 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 15th International Cloud Expo, 6th International Big Data Expo, 3rd International DevOps Summit and 2nd Internet of @ThingsExpo. WebRTC (Web-based Real-Time Communication) is an open source project supported by Google, Mozilla and Opera that aims to enable bro...
Sep. 3, 2015 03:00 PM EDT Reads: 1,605
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of streaming data in the cloud with an enterprise grade SLA. It features built-in integration with Azur...
Sep. 3, 2015 02:45 PM EDT Reads: 387
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and analyzed? As an area of investment, how might a retail company move towards an innovation methodolo...
Sep. 3, 2015 02:30 PM EDT Reads: 514
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Sep. 3, 2015 02:30 PM EDT Reads: 963
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on demos and comprehensive walkthroughs.
Sep. 3, 2015 02:15 PM EDT Reads: 415
Contrary to mainstream media attention, the multiple possibilities of how consumer IoT will transform our everyday lives aren’t the only angle of this headline-gaining trend. There’s a huge opportunity for “industrial IoT” and “Smart Cities” to impact the world in the same capacity – especially during critical situations. For example, a community water dam that needs to release water can leverage embedded critical communications logic to alert the appropriate individuals, on the right device, as soon as they are needed to take action.
Sep. 3, 2015 01:30 PM EDT
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing these ideas and some early experiments performed in the Kurento open source software community in areas ...
Sep. 3, 2015 01:15 PM EDT Reads: 110
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevOps to advance innovation and increase agility. Specializing in designing, imple...
Sep. 3, 2015 01:00 PM EDT Reads: 369
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Treloar, President and COO of Bebaio, will explore examples of brands transforming their businesses by t...
Sep. 3, 2015 12:30 PM EDT Reads: 287
In his session at @ThingsExpo, Lee Williams, a producer of the first smartphones and tablets, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. He will explain how M2M controllers work through wirelessly connected remote controls; and specifically delve into a retrofit option that reverse-engineers control codes of existing conventional controller systems so they don't have to be replaced and are instantly converted to become smart, connected devices.
Sep. 3, 2015 12:00 PM EDT Reads: 255
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts, GM of Platform at FinancialForce.com, will discuss the value of business applications on wearable ...
Sep. 3, 2015 10:45 AM EDT
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of technology leadership, Micron's memory solutions enable the world's most innovative computing, consumer,...
Sep. 3, 2015 10:00 AM EDT Reads: 285
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
Sep. 3, 2015 10:00 AM EDT Reads: 1,603
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Sep. 3, 2015 09:30 AM EDT Reads: 204
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Sep. 3, 2015 09:30 AM EDT Reads: 213
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Sep. 3, 2015 09:30 AM EDT Reads: 651