Drill targets defined at the Espejo Project within the ENAMI EP Strategic Exploration Alliance in NW Ecuador
OTTAWA, March 04, 2021 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV:CGP) (Frankfurt:GWN) (Berlin:GWN) (OTC:CTNXF) is pleased to
announce the following update on the exploration results at the Espejo project located within the Cornerstone Ecuador S.A. (“CESA”) - ENAMI EP strategic exploration alliance (the “ENAMI-CESA SEA”)
in Northern Ecuador (See “About the ENAMI EP - Cornerstone Strategic Exploration Alliance (SEA)”, below), in which CESA has the option to earn up to an 84% interest.
Figures related to this news release can be seen in PDF format by accessing the version of this release on the Company’s website (www.cornerstoneresources.com) or by clicking on the link below:
Several high priority porphyry Cu-Mo (Au) drill targets identified within two main target areas
3D magnetic inversion modeling indicates strong and extensive magnetic anomalies below the 1.9km by 1.3km ESP #1 Cu-Mo (Au) anomaly and the 1.0km to 0.7km ESP #2 anomaly where anomalous
Cu-Mo (Au) in rocks was confirmed by systematic soil sampling
A Phase 1 drilling program (30 holes and 17,000 metres) has been defined
In commenting on the results, Cornerstone’s Chief Geologist, Osman Poma, said:
“We and our partner, Ecuador’s state mining company ENAMI, are pleased to announce this update on the Espejo block of concessions within the ENAMI-CESA SEA. The age of the intrusions and the style of mineralization at Espejo are similar to those found at the Llurimagua Cu Mo porphyry deposit1 located in the same geological belt, some 80 km to the southwest.
Our surveys have delineated well-defined geochemical anomalies associated with porphyry style veining in outcrop and large magnetic bodies. Subject to permitting and securing a suitable funding partner and farm-in arrangement, drilling of these targets is planned during the 4th quarter of 2021 or the first quarter of 2022.
We would like to thank ENAMI’s management and technical staff for their assistance and support.”
Cornerstone Ecuador SA (“CESA”), a wholly owned subsidiary of Cornerstone Capital Resources Inc. (TSXV: CGP) has outlined several high priority porphyry Cu-Mo (Au) exploration target areas on its Espejo project located in Carchi province, in northern Ecuador. See location map on Figure 1. This four concession project is one of three projects in the (Ecuadorian State mining company) ENAMI EP – CESA Strategic Exploration Alliance (the “ENAMI-CESA SEA”). The projects, 9 concessions totaling 42,000 hectares in three project blocks, Espejo, Playa Rica and Rio Magdalena, were identified and selected by CESA following a thorough compilation of public and private data and a regional prospecting program during the period 2015 and 2016. Concessions were then applied for by and granted to ENAMI for the benefit of the ENAMI-CESA SEA.