Phase 2 Programme At Bramaderos Project Intersects Shallow Mineralised Porphyry
Cornerstone Capital Resources Inc. (TSXV-CGP) has intersected visual copper in the first hole at the Brama porphyry target in the Bramaderos gold and copper joint venture project in Ecuador.
Visual inspection revealed copper as chalcopyrite is present in hole BMDD008. The hole was designed to test the core of the two 3D magnetic targets
Stockwork veining and some copper are visible to the bottom of the first magnetic target at downhole depth of ~450m.
Drilling is about to hit second target directly below at a downhole depth of ~800m
An historic hole at Brama (BMDD005) intersected 127m at 0.57g/t gold and 0.1% copper, including 39m at 0.72g/t gold and 0.13% copper. A magnetic model suggests this hole was on the fringe of the target
Drilling resumed at the Brama gold-copper porphyry target in February. Hole BMDD008, which is now at ~735m, is targeting a vertically extensive porphyry system interpreted from 3D processing of detailed magnetics. The upper part of the targeted porphyry comprises a mineralised intrusive breccia previously drilled in holes BMDD005 and historical hole CURI-13.
An interpreted 3D magnetic model shows a sub-vertical elongated magnetic high anomaly below this intrusive breccia which broadens at depth and is also being targeted by this drill hole. Drilling is expected to continue through March and assay results should be available in May.
The pipe-like porphyry target being tested at Brama by hole BMDD008 is the first of a significant number of similar vertically extensive pipe-like targets that can be seen in 3-D magnetic data across the Brama, Playas and Melonal porphyry targets on the Bramaderos property.
Measuring 4,948 hectares, the Bramaderos project is located approximately 130km from the Loja provincial capital in southern Ecuador. The project is easily accessible via the Pan American Highway that crosses the property.
The Bramaderos concession is owned by La Plata Minerales S.A., which in turn is owned 87.5% by Sunstone (the project operator) and 12.5% by Cornerstone. Cornerstone’s 12.5% interest is carried by Sunstone through to the start of commercial production and repayable at Libor plus 2% out of 90% of Cornerstone’s share of earnings or dividends from the Bramaderos project.