Tandayama-America Porphyry Copper-Gold Target Holes Indicative Of Significant Resource Potential
Cornerstone Capital Resources Inc. (TSXV:CGP) (OTC:CTNXF) reports strong copper-gold returns in drilling on its Tandayama-America (TAM) porphyry copper-gold mineralised target located three km north of the Alpala Deposit at its Cascabel copper-gold porphyry joint venture project in northern Ecuador.
Cornerstone has a 15% interest financed through to completion of a feasibility study plus 6.86% of the shares of joint venture partner and Project operator SolGold Plc, for a total direct and indirect interest in Cascabel of 20.8%.
Highlights
- Drilling at the Tandayama-America Porphyry Copper-Gold target at Cascabel has intersected significant copper and gold mineralisation.
- Selected highlights of drill hole assays received from Holes 1 to 7 include:
- Hole 1: 531m @ 0.30% copper equivalent (CuEq) (from 220m), including 272m @ 0.44% CuEq (from 350m)
- Hole 3: 1,040m @ 0.33% CuEq (from 252m), including 350m @ 0.45% CuEq (from 632m)
- Hole 5: 426m @ 0.37% CuEq (from 218m), including 342m @ 0.43% CuEq (from 230m)
- Hole 7: 522m @ 0.38% CuEq (from 230m), including 230m @ 0.44% CuEq (from 276m)
Mineralisation at TAM forms a northwest trending corridor, occupying an area 750m long x 500m wide extending from surface to a depth of over 1,200m. Further drilling aims at defining the extent mineralisation towards the northwest, the southeast and at depth where the mineralisation remains open.
SolGold Executive Board Member and ENSA President, Jason Ward, said that due to the significance of results achieved thus far at TAM, additional diamond drill rigs are to be mobilised to expedite drilling, ahead of a planned National Instrument 43-101 compliant Maiden Mineral Resource Estimate later in 2021.
“Significant copper and gold mineralisation at the TAM target will add to the already impressive metal inventory at Alpala,” Mr Ward said.
“The recent drilling results at TAM are indicative of a significant prospective resource that appears amenable to bulk surface mining methods. This seems likely to have a major beneficial impact on the development of the Cascabel property as a whole and the further upside of a potentially significant deep target beneath TAM is certainly adding excitement to
The TAM target lies approximately three km north of the Alpala Deposit, located on the Cascabel concession within Imbabura Province in northern Ecuador. The project area lies approximately 100 km north of the capital city of Quito and approximately 50 km north-northwest of the provincial capital, Ibarra.
