Strong Copper-Gold Mineralization Discovered At Aguinaga Prospect

 

MOUNT PEARL - Cornerstone Capital Resources Inc. reported the project update for the Cascabel copper-gold porphyry joint venture exploration project in northern Ecuador, in which the Company has a 15% interest financed through to completion of a feasibility study. SolGold Plc is funding 100% of the exploration at Cascabel and is the operator of the project.

Porphyry stockwork copper-gold mineralization discovered at surface at Aguinaga, 1.6km northeast of Alpala prospect; Rock-saw channel results over the exposed area return an open ended intersection of 9.0m @ 1.01 % Cu, and 0.79 g/t Au; Geophysical and geochemical similarities to the Alumbrera copper mine in Argentina and other large porphyry copper deposits around the world.

Apart from the highly prospective Alpala Prospect, there are currently four other target areas within the Cascabel tenement including: Quebrada Tandayama-America, Aguinaga and Quebrada Moran are prospective for copper-gold porphyry deposits and Rio Cachaco is prospective for epithermal gold style mineralization," said Brooke Macdonald, Cornerstone's CEO.

After reconnaissance fieldwork initially located mineralized porphyritic diorite along the northern slope of Aguinaga Hill, subsequent detailed 1:500 scale "Anaconda" style geological and structural mapping has led to the discovery of porphyry stockwork copper-gold mineralization outcropping at surface.

Mineralization is exposed along the upper section of Aguinaga Creek, where classic porphyry style 'B'-type quartz-magnetite-chalcopyrite-bornite stockwork veining occurs within porphyritic diorite.

The outcropping mineralization is accompanied by potassic (biotite) alteration and remains open to the north where creek sediments and dense vegetation limit further surface exposure. Potassic alteration and bornite is highly diagnostic of the core mineralization in a typical porphyry copper-gold system.

The Aguinaga prospect lies on a prominent topographic high (1615masl) about 3km south of Rocafuerte site office and 1.3km to the northeast of the Alpala prospect which is currently being drilled. SolGold geologists believe the

SolGold is currently conducting field mapping, rock saw trenching, and infill soil-sampling programs, along with spectral analysis of soils to determine hydrothermal alteration assemblages.