Cornerstone files resource estimate at Tandayama, Ecuador
Cornerstone Capital Resources Inc. [CGP-TSXV; CTNXF-OTC; GWN-Berlin, FSE] provided an independently verified update regarding a mineral resource estimate (MRE) for its Tandayama-America (TAM) porphyry copper-gold deposit located 3 km north of the Alpala deposit at its Cascabel copper-gold porphyry joint venture project in northern Ecuador in which Cornerstone has a 15% interest financed through to completion of a feasibility study plus 6.86% of the shares of joint venture partner and project operator SolGold PLC [SOLG-TSX, LSE AIM; SLGGF-OTC], for a total direct and indirect interest in Cascabel of 20.8%.
Total Mineral Resource is 233.0 million tonnes of 0.23% and 0.16 g/t gold (0.33% copper equivalent (CuEq)), containing 0.53 million tonnes copper and 1.20 million gold in the Indicated category, plus 197.0 million tonnes at 0.27% copper and 0.20 g/t gold (0.39% CuEq) containing 0.52 million tonnes copper and 1.24 million ounces gold in the Inferred category.
Potentially open pittable Mineral Resources include a higher-grade near-surface zone containing 10.6 million tonnes of 0.26% copper and 0.25 g/t gold (0.41% CuEq) and 5.2 million tonnes of 0.27% copper and 0.28 g/t gold (0.45% CuEq).Potentially open pittable Mineral Resources comprise 201.0 million tonnes of 0.22% copper and 0.16 g/t gold (0.33% CuEq) in the Indicated category, plus 61.8 million tonnes of 0.25% copper and 0.30 g/t gold (0.44% CuEq) in the Inferred category, at a cut-off grade of 0.16% CuEq.
Mineral Resources potentially mineable by underground bulk mining methods comprise 32.0 million tonnes of 0.26% copper and 0.14 g/t gold (0.35% CuEq) in the Indicated category, plus 135.2 million tonnes of 0.27% copper and 0.15 g/t gold (0.37% CuEq) in the Inferred category, at a cut-off grade of 0.28% CuEq.
Drilling continues and an update to the TAM resource base is planned.
Project Operator SolGold’s Interim CEO Keith Marshall commented on the work being advanced at Cascabel: “The TAM deposit adds further copper and gold mineralization to Alpala’s large metal inventory at the Cascabel project. The resource offers optionality and the potential to generate economic ore earlier which will complement the high-grade Alpala underground ore.
“The maiden MRE is based on assays from the first 18 holes. Drilling has continued at the TAM deposit during the estimation process and visual mineralization from Holes 19-30 suggest potential for future resource growth in the southeast quarter of the open pit optimised shape and particularly in the east and southeast depth extensions of the underground optimised shape where the highest grade mineralization encountered thus far remains open.”