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Be the first with the news that moves the market- Cornerstone Capital Resources (CGP) has launched a drill program at its Bramaderos gold and copper joint venture project in southern Ecuador
- The company holds a 12.5 per cent interest in the project, with ASX-listed Sunstone Metals holding the remaining amount
- Sunstone will carry out the 2,000-metre program, focusing on the Espiritu and Brama targets, which sit within the Bramaderos Project
- Previous trench sampling work at Espiritu returned 21 metres at 82.4 grams per tonne of silver, 0.3 grams per tonne of gold, 1.4 per cent zinc and 1.2 per cent lead
- Cornerstone Capital Resources (CGP) is currently down 3.41 per cent and is trading at C$5.10 per share
Cornerstone Capital Resources (CGP) has launched a drill program at its Bramaderos gold and copper joint venture project in southern Ecuador.
Located approximately 130 kilometres from Loja, the provincial capital, the project covers 4,948 hectares and is easily accessible by the Pan American Highway that transects the property.
The Bramaderos Project is wholly owned by La Plata Minerales SA, which is intern 87.5 per cent owned by ASX-listed Sunstone Metals and 12.5 per cent by Cornerstone.
As operator of the project, Sunstone will carry out the 2,000-metre drill program, which will focus on the Espiritu gold-silver and Brama targets within the Bramaderos Project.
An initial five-hole, 600-metre sub-program will assess the Espiritu target, and has been designed to test the depth limits of previously a identified poly metallic system, with an expected completion date of early October.
Historic trench sampling in this area returned 21 metres at 82.4 grams per tonne of silver, 0.3 grams per tonne of gold, 1.4 per cent zinc and 1.2 per cent lead. This included four metres at 415 grams per tonne of silver, 0.9 grams per tonne of gold, 6.9 per cent zinc and 6 per cent lead.
Surface rock chip sampling as returned 4.2 grams per tonne of gold and 101 grams per tonne of silver.
Should the drilling work at Espiritu be successful, a number of similar targets will be brought forward to the drilling stage over the next few months. This potentially includes several gold and silver geochemical targets in the souther part of the Bramaderos Project.
Cornerstone Capital Resources (CGP) is currently down 3.41 per cent to C$5.10 per share at 3:28pm EDT.
