- Cornerstone Capital Resources Inc. (CGP) provides updates on its Bramaderos gold and copper joint venture in southern Ecuador
- Significant high-grade gold-copper assays from follow-up drill holes BMDD021, BMDD022, and BMDD023 at Alba have been discovered
- Hole BMDD022 ended in mineralization and has been extended with assays pending
- Alba is to be interpreted as a high-grade gold rich porphyry environment with visible gold
- The currently known size of the high-grade porphyry is expected to grow as more holes are drilled
- Cornerstone Capital Resources Inc. (CGP) is up 2.63 per cent trading at $3.90 per share as of 3:58 p.m. EST
Cornerstone Capital Resources (CGP) has provided an update on its Bramaderos gold and copper joint venture in southern Ecuador.
Significant high-grade gold-copper assays from follow-up drill holes BMDD021, BMDD022, and BMDD023 at Alba have been discovered.
Hole BMDD022 ended in mineralization and has been extended with assays pending.
All holes intersected copper as chalcopyrite, bornite and covellite in variably veined stockwork porphyry.
Results from the previously reported discovery hole, BMDD012, include 2.35 grams gold per tonne from 93 metres.
Follow-up drilling is underway with two more rigs being mobilized to Alba.
Hole BMDD023 was drilled to the south, with an approximate 50m step out from BMDD012.
Adequate drilling and analysis of results are completed. Therefore, Alba is to be interpreted as a high-grade gold rich porphyry environment with visible gold occurring in the upper zones of the porphyry and delivering locally very high grades.
The main porphyry system at Alba has now been intersected in five drill holes. Its notable high grades including 60.7 metre at 1.01 grams gold per tonne and 0.19 per cent copper in BMDD021.
The currently known size of the high-grade porphyry is expected to grow as more holes are drilled
The Alba results have significant flow-on effects for the potential value of the directly adjacent Brama system
Plans for a maiden Mineral Resource Estimate for Brama will likely be expanded to incorporate Alba
Other Alba-style exploration targets are now being defined within the broader Bramaderos concession including at Limon where porphyry targets remain below the gold-bearing alteration.
Cornerstone Capital Resources Inc. (CGP) is up 2.63 per cent trading at $3.90 per share as of 3:58 p.m. EST.