Cornerstone Metals Makes Preparations for Drill Program on Carlin Vanadium Project
Cornerstone Metals Makes Preparations for Drill Program on Carlin Vanadium Project
November 28, 2017 - Vancouver, British Columbia – Cornerstone Metals Inc. (TSX-V –
CCC) ( “Cornerstone” o r t h e “Company”) is pleased to announce that the Company is
initiating field preparations f or its diamond drill program on the Carlin Vanadium Project.
Company geologists have designe d a drill plan of 1,900m of diam ond drilling in 23 holes to
verify the grade and zone thicknesses of the historic resource already established from the 1960’s
Union Carbide drilling of the vanadium deposit and to provide s amples for metallurgical
testwork. The Company submitted its Notice of Intent (NOI) appl ication for the drill program to
the Bureau of Land Management (“BLM”) November 7, 2017 and is a waiting approval,
normally a 45 day process. In anticipation of this approval, cr ews are going to the Carlin
Vanadium property this week to in itiate the logistical set-up f or the planned diamond drill
program. The Company has requested quotes from several drill co ntractors for the program and
will be meeting contractors on site. Company crews will also ma rk the drill collars in the field as
well as the pre-existing roads and for 350m of new road building to access drill sites.
The Carlin Vanadium Project has one of the largest known primar y vanadium deposits in the
U.S.A. The Carlin Vanadium Project is located in Elko County 22 km by road (14 miles) from
the town of Carlin, Nevada, and is comprised of 72 contiguous u npatented mineral claims
totaling 461 hectares (1,140 acres ). The Carlin Vanadium deposi t was discovered by Union
Carbide Corp. (UCC) in the 1960’s, which completed surface mapp ing, trenching and 152 rotary
drill holes in 11,133m (36,525 feet) of drilling. The average d rill hole spacing was 60m (200ft)
apart within the more densely dr illed areas. Drilling indicates a zone of mineralization
approximately 55m (180 feet) thick striking north-south over 1, 860m (6,100ft) in length and
dipping 5°-30° east and west averaging 760m (2,500ft) of down d ip extent from surface. The
mineralized unit is locally exposed on surface, where it cuts t opography, but mostly is found at
shallow depths, commonly between 50-200 ft below surface.
About Cornerstone Metals Inc.
Cornerstone’s objective is to advance exploration/development s tage copper, precious and
strategic minerals properties to production in the Americas. Th e Company’s Management and
Board Core Competence is in exploration, permitting, developmen t, construction, and operation
of mining projects.
Besides the rights to earn 100% in the Carlin Vanadium Property described above, Cornerstone
owns 100% (subject to 1.5% NSR) of the West Jerome property, ne ar Jerome, Arizona, on the
west side of Freeport McMoRan patented lands. The property, in a Volcanogenic Massive
Sulfide camp, is a high-grade, massive sulfide target located 2 .4 km south of the past-producing
United Verde (32 million tons grading 4.4% copper, 1.5 oz/t sil ver and 0.04 oz/t gold). The West
Jerome property has attractive untested drill targets.
ON BEHALF OF CORNERSTONE METALS INC.
per:
“Paul Cowley”
CEO & President
For further information, please contact:
Paul Cowley
Tel: 604-340-7711
Email: [email protected]
Technical disclosure in this news release has been reviewed and approved by Paul Cowley,
P.Geo., a Qualified Person as defined by National Instrument 43-101, and President and CEO of
the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
Certain statements in this news release constitute "forward-lookin g" statements. These statements relate to future events or th e Company's future
performance and include the potential acquisition of the Carlin Vanadium project and the proposed diamond drill program, as des cribed in the
news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual
results to vary from those expressed or implied by such forwar d-looking statements. In addition to other risks, the Company's p otential
acquisition may prove to be unsuccessful and the Company may be un able to complete such transaction, whether because due dilige nce was
unsatisfactory or otherwise. Further, the Company may not attrac t capital in the future to fin ance the transaction costs or obl igations under the
Option Agreement, which could affect whether the Company proceed s with the exercise of its option thereunder. Forward-looking statements
involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they w ill not necessarily
be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anti cipated due to a
number of factors and risks. Although the fo rward-looking statements contained in th is news release are based upon what managem ent of the
Company believes are reasonable assumptions on the date of this ne ws release, the Company cannot assure investors that actual r esults will be
consistent with these forward-looking statements. The forward-look ing statements contained in this press release are made as of the date hereof
and the Company disclaims any intention or obligation to update or revise any forward-looking st atements whether as a result of new
information, future events or otherwise, except as required under applicable securities regulations.