Welcome!

Agile Computing Authors: Elizabeth White, Pat Romanski, Rishi Bhargava, Xenia von Wedel, Carmen Gonzalez

News Feed Item

Cornerstone Capital Resources Inc.: Cascabel Update: Hole 7 Completed, Drill Rig moving to Hole 8, IP Survey Commences

MOUNT PEARL, NEWFOUNDLAND -- (Marketwired) -- 08/06/14 -- Cornerstone Capital Resources Inc. ("Cornerstone" or "the Company") (TSX VENTURE: CGP) (FRANKFURT: GWN) (BERLIN: GWN) (OTCBB: CTNXF) announces the following project update for the Company's Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador.

HIGHLIGHTS:


--  Drill hole CSD-14-007 ("Hole 7") has been terminated at a downhole depth
    of 1672.76 metres;

--  Intervals of strong visible copper sulphide mineralization continued
    from 1251.26m to 1298.30m;

--  Drill rig moving to drill site for hole CSD-14-008 ("Hole 8");

--  Refined magnetic modeling provides substantial additional resolution of
    the magnetic domains within the Greater Alpala Magnetic Complex;

--  Orion 3D "Deep Earth Imaging" Induced Polarization (IP) geophysical
    survey equipment and personnel on site. Survey set-up completed and data
    acquisition commenced on Sunday August 3rd; and

--  Samples for preliminary metallurgical test-work from three intervals in
    Hole 5 have been received by Inspectorate in Vancouver, and test-work is
    in advanced stages.

All reported intervals referred to in this news release are core lengths. At present the true thicknesses are uncertain due to the early stage of drilling.

References to figures and photographs 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:

http://www.cornerstoneresources.com/i/pdf/NR14-19Figures.pdf.

Further Information

Hole 7

Hole 7 was terminated on July 25th at a depth of 1672.76 metres after encountering substantial intersections of copper-gold mineralization on the southwest edge of the Central Magnetic Feature.

From 1251.26m to 1298.30m the hole continued to intersect diorite with varying degrees of potassic alteration. Visible copper sulphides continued through the remainder of the hole but at progressively diminishing intensities, in association with marginal inner propylitic alteration types. From 1298.30m to 1672.76m there is a progressive reduction in quartz vein intensities indicating that the hole was progressing towards the margin of the system.

Assays from 1251.26m to 1600m depth are expected within a week, and the remaining assays from 1600m to 1672.76m are expected within three weeks.

Magnetic Vector Inversion Modeling

The current unconstrained magnetic model at Alpala was created using the UBC (University of British Columbia) smooth body inversion algorithm that until now has been considered industry best practice. The depth of investigation required at Alpala, coupled with the challenging low magnetic inclination of the earth's field in Northern Ecuador, has required the Company to push this modeling as far as can be feasibly achieved, when considering the non-unique nature inherent in potential field solutions.

New generation magnetic modeling algorithms that allow Magnetic Vector Inversion (MVI) modeling have recently been developed collaboratively by UBC GIF (University of British Columbia Geophysical Inversion Facility), industry and front end software developers (Geosoft) who have commercialized this new technology. Traditional 'susceptibility' algorithms assume the observed magnetic field is due totally to induced magnetization, orientated parallel, or anti-parallel, to the earth's field. In contrast MVI inversion modeling incorporates the three vector components of the magnetic data. This allows the modeling to be more effective in challenging situations where geological processes or geophysical effects, such as deformation, anisotropy, remanent magnetization, high susceptibilities and low inclination of the Earth's field, alter the direction of magnetization. In this way MVI allows the magnetization direction to vary within the model, allowing a more accurate representation of the sub-surface geology. The principal geophysicist consulting on the Cascabel project, Chris Moore of Moore Geophysics, has negotiated an agreement with Geosoft that allows access to these algorithms for use on third party client projects.

An MVI magnetic model has been generated at Alpala. Figures 2, 3, 4 and 5 illustrate this work. This refined model is well supported by geology observed in drill holes, as well as interpretations of regional faults generated from the 2D magnetic interpretation. Holes 5 and 7 have drilled down the southwest margin of an up to 1.1 km long by 0.5 km wide by 1.0 km tall magnetic domain (Figures 2 and 3) and slowly diverged away from this magnetic domain towards the southwest. Both holes ended in lower assayed grade in Hole 5 and lower visible copper grade in Hole 7 - away from the new MVI magnetic domain. This trend of weakening mineralization at depth to the southwest suggests that the heart of the system in the Central Zone lies in the 500m wide northwest-trending magnetic corridor that passes northeast of holes 5 and 7. The presence of extensive intervals of proximal halo mineralization in holes 3 and 6 support the refined MVI model, and suggests mineralization of higher grade lies below and northwest of the lower Hole 3 intersection and below and southwest of the lower Hole 6 intersection.

Hole 8

Hole 8 has been sited on the same pad as Hole 5 and will be drilled with an 85-degree inclination towards due north UTM azimuth (Figure 4). The drill rig is currently being mobilized to the new drill site.

The hole is targeted to intersect the MVI magnetic anomaly at a point that is approximately 100m north-northeast of the upper contact of the high-grade zone In Hole 5, and at a point approximately 170m north-northeast of the lower contact to the high-grade copper-gold intersection in Hole 5 (Figure 5).

The hole will aim to generate a copper-gold intersection at the third apex of a triangle, with Holes 5 and 7 lying along the structurally controlled southwest margin of the MVI magnetic anomaly and Hole 8 yielding a piece point within the anomaly 100m to 170m northeast of Holes 5 and 7 (Figure 5).

IP Survey and Magnetic Modeling

The Quantec Orion IP geophysical equipment was released from customs on 17 July and transported to the field office at Rocafuerte on the same day. The equipment was then mobilized to the Alpala camp by mule and manpower from July 18 to 21. On July 26th the Quantec team completed an inventory of all the equipment and confirmed safe arrival of all required hardware. The Quantec team commenced laying out the cables over the entire survey area, and this set-up phase of the survey was completed on August 2nd.

The Orion 3DIP surveying of the Alpala grid commenced on August 3rd. Chargeability and conductivity measurements are being taken during daylight hours and magneto-telluric measurements are being taken during the nights. The resistivity data are derived from magneto-telluric measurements that use natural atmospheric electrical discharges as the energy source. The chargeability and conductivity surveying should see to around 800m depth and the resistivity surveying should see to around 2 kilometres depth.

The Orion 3DIP survey at Alpala is anticipated to take 3 weeks to complete the acquisition of survey data. Provision of the raw field data will be made to the Company within 2 weeks following completion of the survey. Preliminary inversion models will be completed and provided by Quantec within 4 weeks of completion of the field survey or provision of the survey GPS data to Quantec's data modelers. Completion of all project deliverables will be made within 10 weeks of completion of the ground survey.

Gridding over the Aguinaga prospect is near complete, and this will allow the Quantec team to commence surveying the Aguinaga area immediately after completion of the Alpala survey.

Metallurgical Test-work

Three samples for metallurgical test-work from Hole 5 were received by Inspectorate Exploration and Mining Services Ltd ("Inspectorate") of Richmond, Vancouver, on July 2nd. Inspectorate is associated with the ACME Laboratory group that conducts the assaying of drill core from the Cascabel project. The initial test work is presently underway at Inspectorate.

The results of this initial test-work are anticipated to be received by the end of August and these results will be announced to the market.

About Cascabel

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 National Instrument 43-101 compliant 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 inferred resource of 982 million tons at 0.89% Cu Junin copper project. (Mineralization identified at the Cu Junin copper project is not necessarily indicative of the mineralization on the Cascabel Property).

Qualified Person:

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 for Cornerstone 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, NQ and BQ core sizes (respectively 7.1, 5.6, 4.8 and 3.7 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.

About Cornerstone:

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.

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.

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
IoT solutions exploit operational data generated by Internet-connected smart “things” for the purpose of gaining operational insight and producing “better outcomes” (for example, create new business models, eliminate unscheduled maintenance, etc.). The explosive proliferation of IoT solutions will result in an exponential growth in the volume of IoT data, precipitating significant Information Governance issues: who owns the IoT data, what are the rights/duties of IoT solutions adopters towards t...
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
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...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, 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 your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, 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.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.