Gold Section Commences 5m From surface) At Brama Target
Cornerstone Capital Resources Inc.(TSXV: CGP) reports that drilling has intersected a broad gold-copper mineralised porphyry zone at the Bramaderos gold and copper joint venture in southern Ecuador in which it has a 12.5% interest carried by JV partner and project operator Sunstone Metals Inc. through to the start of commercial production.
Hole (BMDD008) targeted a vertically extensive porphyry system interpreted from 3D processing of detailed magnetics. The system comprised two targets.
- The upper part of the targeted porphyry comprises a mineralized intrusive breccia previously drilled, on the margins, in hole BMDD005 which intersected 127m at 0.57g/t gold and 0.1% copper, including 39m at 0.72g/t gold and 0.13% copper and historical hole CURI-13.
- A deep magnetic anomaly targeted from 850m downhole.
Assays for the upper 576m of BMDD008 have returned wide intersections of gold and copper comprising:
- 449.9m at 0.47g/t gold, 0.1% copper, and 26.9ppm molybdenum, from surface, including:
- 15.8m of 0.71g/t gold and 0.08% copper from 5.2m;
- 128.9m at 0.68g/t gold and 0.1% copper from 135.1m; and
- 84.3m at 0.80g/t gold and 0.11% copper from 179.7m.
For comparison, and to provide context, these drill results are comparable to those in other porphyry deposits in Ecuador such as the Cangrejos deposit of Lumina Gold Corp. (TSXV:LUM) where drilling in 2019 delivered, among other similar results, 537m of 0.56g/t gold and 0.1% copper in C19-147 within the Gran Bestia zone (see TSXV:LUM announcement dated October 2, 2019).
The deep magnetic anomaly that was to be tested in BMDD008 has not been adequately tested with this drill hole. Unfortunately, drill hole BMDD008 deviated to the east as it progressed down hole and continued to drill away from the target area. However, the drill hole, at depth, did intersect a weakly mineralized diorite from 850 – 1,000m which is extremely encouraging. The weak mineralization comprised sporadic traces of chalcopyrite2, sphalerite, galena and molybdenite within weakly veined and altered diorite suggesting a marginal position to a potential porphyry centre (see Figure 4).
A wedge hole has commenced from 347m downhole in BMDD008 and is expected to be in the target zone in early May. The interpretation of the magnetics data has been refined based on data from hole BMDD008.
“These are strong assays that are comparable with other significant gold-copper porphyry deposits and support our view of the huge potential at Brama. In light of this result, we are eagerly awaiting the outcome of drilling to test the target below,” Cornerstone VP Exploration, Yvan Crepeau, said.
There are now a number of key intersections in drilling and trenching of the outcropping Brama porphyry system that together are building a compelling picture of higher-grade pods. There are now at least two of these – one centred on this drilling with BMDD008, and one incorporating historical hole CURI-03. The zones are about 100m apart and appear to have surface diameters of 100-200m with considerable vertical extent.
“We are now seeing the higher-grade intervals in the Brama system and have several additional targets to test. We are confident that we will find additional higher-grade pods.
“The current wedge hole, testing the deeper target, will continue to build the potential scale of this system.”
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. (PLAMIN), 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.
