- Cornerstone Capital Resources (CGP) has kicked off drilling at its part-owned Cascabel copper-gold porphyry joint venture project in northern Ecuador
- Two drills are currently turning on the property, both focussing on Tandayama-America porphyry copper-gold target
- The first drill has already reached a depth of 258 metres into the target, intersecting visible chalcopyrite copper sulphide mineralisation at 55 metres downhole
- Visible molybdenite and sphalerite mineralisation has also been hit at 199 metres depth
- Cornerstone Capital Resources remains unchanged and is trading at C$5.08 per share
Cornerstone Capital Resources (CGP) has kicked off drilling at its part-owned Cascabel copper-gold porphyry joint venture project in northern Ecuador.
Two drilling are currently turning on the property, both focussing on Tandayama-America porphyry copper-gold target.
The target centres on the Tandayama and America creeks, where previous exploration has noted soil geochemical highs in molybdenum, copper and gold.
Specifically, rock-saw channel sampling at the Tandayama Creek returned 37 metres at 0.25 per cent copper equivalent.
This is the first time the development team will directly drill the Tandayama-America target, due to the need for rigs at the high priority Apala deposit.
The first drill has already reached a depth of 258 metres into the target, intersecting visible chalcopyrite copper sulphide mineralisation at 55 metres downhole. Visible molybdenite and sphalerite mineralisation has also been hit at 199 metres down.
The project’s Technical Services Manager, Benn Whistler, said the Tandayama soil copper and molybdenum anomalies are currently two of the largest anomalies on the project.
“We have always been interested in the drill targets at Tandayama-America, however the prioritisation of the Alpala Resource and Feasibility Drilling Programs has seen this target scheduled to form part of the Cascabel Feasibility Sterilisation Drilling Program now underway,” he added.
Benn went on to say that, at this stage, mineralization does appear to be increasing down hole, which bodes well as both drill holes enter the area of a key polymetallic soil anomalism.
Cornerstone Capital Resources remains unchanged and is trading at C$5.08 per share at 10:10am EST.
