Cornerstone, Solgold drill 0.32% CuEq over 769.9 metres at Cascabel, Ecuador

The joint ventured Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador. Source: Cornerstone Capital Resources Inc.

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Cornerstone Capital Resources Inc. [CGP-TSXV; CTNXF-OTC; GWN-Berlin, FSE] provided a drilling update for the Tandayama-America (TAM) porphyry copper-gold satellite 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 and repayable out of Cornerstone’s share of project earnings, 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%.

TAM currently contains a Mineral Resource Estimate (MRE) of 233.0Mt of 0.23% copper and 0.16 g/t gold (0.33% copper equivalent (CuEq) containing 0.53Mt of copper and 1.20Moz of gold in the Indicated category, plus 197.0Mt of 0.27% copper and 0.20 g/t gold (0.39% CuEq) containing 0.52Mt copper and 1.24Moz gold in the Inferred category

A total of 30,925 metres of diamond drilling, in 41 drill holes, has now been completed at TAM deposit, including a total of 29,632 metres of final assay results.

Additional resources being identified at TAM continue to provide a strategic fit towards the development of the Cascabel property as a whole. A TAM deposit MRE update is currently underway, assessing additional drill holes 19-40, equating to an additional 15,065.6 metres of final assays results received since the release of the maiden MRE in October 2021.

Assay results from holes 19-40 extend mineralization potentially mineable by both open pit and underground bulk mining methods and suggest capacity for resource growth. Mineralization remains open both along strike north and south, and at depth in the southeast.

Highlights from holes 25-40 include Hole 26 that returned 769.9 metres of 0.23% copper and 0.14 g/t hold (0.32% CuEq) (from 608 metres, open at depth), incl. 382 metres of 0.29% copper and 0.21 g/t gold (0.43% CuEq) (from 824m) and 80 metres of 0.30% copper and 0.48 g/t gold (0.61% CuEq) from 1,120 metres.

Hole 28 returned 588.0 metres of 0.28% copper and 0.20 gold (0.41% CuEq) from 440 metres, including 140 metres of 0.49% copper and 0.47 g/t gold (0.80% CuEq) from 602 metres and 74 metres of 0.72% copper and 0.72 g/t gold (1.18% CuEq) from 666 metres.

Hole 32 returned 902.0 metres of 0.22% copper and 0.09 g/t gold (0.28% CuEq) from 676 metres, including 190 metres of 0.33% copper and 0.13 g/t gold (0.41% CuEq) from 900 metres and 56 metres of 0.46% copper and 0.18 g/t gold (0.57% CuEq) from 1,016 metres.

Hole 35 returned 334.0 metres of 0.27% copper and 0.23 g/t gold (0.42% CuEq) from 442 metres, including 168 metres of 0.44% copper and 0.37 g/t gold (0.68% CuEq) from 592 metres and 80 metres 0.63% copper and 0.61 g/t gold (1.03 CuEq) from 622 metres.

Drilling continues with hole 41 at a current depth of 500m, testing extensions to open mineralization in the southeast quarter of the deposit. Hole 41 has so far intersected visible copper sulphide mineralization from 381.7m to its current depth.

 


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