Initial Drill Results Confirm Higher than Expected Vanadium Grades on Cornerstone Metal’s Carlin Vanadium Project
Press & Analysts Contact:
Stewart Chalmers
H4C Group
+1 818‐681‐3588
Initial Drill Results Confirm Higher than Expected Vanadium Grades on Cornerstone Metal’s
Carlin Vanadium Project
February 28, 2018 - Vancouver, British Columbia – Cornerstone Metals Inc. (TSX‐V: CCC) (OTCQB:
CCCCF) (FSE: 1PY) (“Cornerstone” or the “ Company”) announces the results of the first 8 holes of the 20
hole confirmation diamond drilling program on its Carlin Vanadi um Project, Nevada. The new holes
support the neighbouring historic holes with zone continuity in width and grade where expected,
demonstrating an extensive near surface horizontal high grade m ineralized vanadium zone. Five of eight
new holes returned much higher vanadium grades compared to thei r neighbouring historic holes. The
drilling also provides new silver and zinc values not previously documented.
“We are very pleased with the initial drill results as they dem onstrate consistency of the widespread high
grade vanadium zone with good thickness and grade”, said Corner stone President and Chief Executive
Officer Paul Cowley. “These holes are a great step in confirmin g the deposit. It’s not surprising that the
systematic historic Union Carbide drilling provides a solid and reliable base to work from. And adding to
this, all of the new holes within the limits of the historic re source returned higher grades than their
neighbouring historic holes.”
The Carlin Vanadium Project contains one of North America’s lar gest, richest known primary deposits of
vanadium with unsurpassed accessibility. The deposit has a hist oric Inferred mineral resource estimate of
28 million tons at 0.515% vanadiu m pentoxide (V2O5), having a t otal metal content of 289 million pounds
V2O5, based on a 0.3% V2O5 cut-off grade and defined by 127 hol es completed by Union Carbide in the
late 1960s. The historical estimate does not include any recent data available to the Company. The
Company is not treating this historical estimate as current min eral resources and as such, should not be
relied upon. The work needed to upgrade the historical estimate as current mineral resources is to use
current costs and metal prices and include the results from the verification diamond drilling program.
The Carlin Vanadium deposit, as it is known to date, covers an area 2km long by up to 700m wide and can
be subdivided into 4 sectors; the Southern, Central, Northern a nd Western sectors. The Southern and
Central sectors have the most hi storic drilling and thus the bu lk of the historic resource. The Northern and
Western sectors have been lightly drilled and thus hold much sm aller proportions of the historic resource.
The infill confirmation diam ond drilling program conducted by t he Company consists of 13 holes in the
Central sector, 4 in the Southern sector and 3 holes in the Nor thern sector. Results received to date and
reported below include 6 holes from the Central sector and 2 ho les from the Northern sector. Results from
the remaining 12 holes are pending. A map has been added to the Company’s website
(www.cornerstonemetals.ca) to gr aphically demonstrate the new a nd old drill hole collars, outer limits of
the historic resource, the sectors and the section lines A thro ugh C described in this news release
(http://cornerstonemetals.ca/images/PDF/Resource_verification_drilling_v2.pdf).
Holes DDC17-03 through -05 and DDC18-06 were concentrated in th e northern part of the Central sector.
As a way to compare their results to neighbouring older holes, a north-south and an east-west section line
has been drawn though these holes and other historic holes, wit h their intercepts listed in the following 2
tables. Section lines A and B cross at hole DDC17-05. Holes DD C17-04 and -05 and DDC18-06 fall on
the 620m long north-south Section A (refer to map on the Compan y website). Holes DDC17-03 and
DDC17-05 fall on the 540m long east-west Section B drawn throug h the Central and Western sectors. As
all drilling to date on the property has been vertical and the high grade zone is interpreted to be horizontal,
all drill intercepts are considered to be true thickness.
Intercepts Along Section A
Hole ID From (m) To (m) Length (m) V2O5 % Zn (%) Ag (g/t)
R-33 1.52 25.96 27.44 0.99 0.36 N/A
DDC17-04 5.18 20.50 15.32 0.75 0.17 11.6
R-63 0.00 25.91 25.91 0.57 0.44 N/A
DDC17-05 3.67 29.00 25.33 1.07 0.33 7.6
R-30A 0.00 19.81 19.81 0.73 0.17 N/A
DDC18-06 15.60 34.50 18.90 1.07 0.47 7.1
R-71 6.10 42.67 36.57 0.73 0.35 N/A
R-72 33.53 51.82 18.29 0.81 0.34 N/A
R-41 51.82 67.06 15.24 0.64 0.30 N/A
R-37 54.86 79.25 24.39 0.50 0.22 N/A
R-38 18.29 39.62 21.33 0.64 0.46 N/A
R holes are historic drill holes, N/A = not analyzed
Intercepts Along Section B
Hole ID From (m) To (m) Length (m) V2O5 % Zn (%) Ag (g/t)
R-119 18.29 47.24 28.95 0.64 0.17 N/A
R-118 18.29 39.62 21.33 0.48 0.21 N/A
R-120 0.00 22.86 22.86 0.51 0.23 N/A
R-117 35.05 44.20 9.15 0.36 0.27 N/A
R-62 0.00 7.62 7.62 0.55 0.11 N/A
DDC17-05 3.67 29.00 25.33 1.07 0.33 7.6
DDC17-03 15.85 30.5 14.65 0.68 0.25 9.6
R-53 6.10 30.48 24.38 0.42 0.20 N/A
R-52 19.81 33.53 13.72 0.95 0.32 N/A
R-66 59.44 77.72 18.28 0.59 0.17 N/A
R holes are historic drill holes, N/A = not analyzed
Both tables above demonstrate th at the new drilling favourably supports the neighbouring historic holes
with zone continuity in similar width and grade where the zone was expected, demonstrating a widespread
near surface horizontal high grade mineralized zone. Holes DDC1 7-03, -04 and -5, and DDC18-06 all
yielded higher grades than the average intercept in their secti on line table. It should be noted that DDC17-
04 is a step-out beyond the limits of the historic resource area, thus demonstrating potential gains.
From the drill holes listed above, other parallel lower grade v anadium zones lie above and below the high
grade vanadium zone, with grades between 0.2 and 0.45% V2O5 and thicknesses between 4.57 – 18.29m
but are not included in the above 2 tables.
DDC18-07 and DDC18-08 tested the southern part of the Central s ector. As a way to compare their results
to neighbouring older holes, a 300m long northeast section line (Section C) drawn through the Central
sector include DDC18-07 and DDC18-08 together with other historic holes with intercepts tabled below.
Intercepts Along Section C
Hole ID From (m) To (m) Length (m) V2O5 % Zn (%) Ag (g/t)
DDC18-07 1.50 21.00 19.50 0.20 0.10 1.3
R-77 6.10 32.00 25.90 0.54 0.20 N/A
DDC18-08 21.00 60.00 45.00 0.84 0.38 6.5
R-79 48.77 77.72 28.95 0.47 0.30 N/A
R-78 70.10 82.30 12.20 0.69 0.30 N/A
R-38 18.29 39.62 21.33 0.64 0.46 N/A
R-44 24.38 45.72 21.34 0.73 0.43 N/A
R-50 48.77 59.44 10.67 0.72 0.20 N/A
R-23 42.67 54.86 12.19 0.63 0.36 N/A
R holes are historic drill holes, N/A = not analyzed
Again, the Section C table above demonstrates that the new dril ling favourably supports the neighbouring
historic holes with zone continuity in similar width and grade where the zone was expected, demonstrating
the widespread near surface horizontal high grade mineralized z one. DDC18-08 is the thickest and highest
grade on this section line. DDC18-07 intersected the vanadium u nit where expected with similar widths
but, with lower grade. DDC18-07 was drilled outside the limits of the historic resource area.
Other parallel lower grade vanadium zones lie above and below the high grade zone in the above holes with
grades between 0.2 and 0.40% V2O 5 and thicknesses between 4.57 – 19.81m that are not included in the
following table.
DDC17-01 and DDC17-02 were drilled in the Northern sector in an effort to expand this sector of the
deposit to the east. This sector, although typically with good grades (0.61-1.23% V2O5) and thicknesses
(7.62-28.96m), is more characterized as a narrow linear 240m long by 80m wide northern tip of the deposit.
Holes DDC17-01 and DDC17-02 encountered the vanadium unit where expected with typical widths,
however, the grades were lower, 18m @ 0.24% V2O5 and 39m @ 0.18 % V2O5, respectively. These two
holes lie outside the limits of the historic resource.
The drilling program has been supervised by Mr. Cowley, P.Geo., President and CEO of the Company and
Qualified Person for the program. Drill core recoveries average d 85%. Industry standard quality control
and quality assurance protocols have been followed in handling, sampling and shipping the core. The core
has been photographed, geotec hnically logged and geologically l ogged. Extensive specific gravity
measurements have been taken on the core to aid in a future mineral resource estimation. The core has been
cut in half, with one half sent for analysis and the other half stored as witness core in a secure dry facility in
Elko, Nevada. Samples have been sent for analyses to MS Analytical, an ISO 17025 accredited laboratory.
Potential to Expand
The deposit has excellent potential to expand. The size of the known vanadium deposit is limited to date to
the extent of the concentrated drilling by Union Carbide. Nearly all edges of the deposit end with drill holes
containing good grades and widths.
Vanadium’s Growing Importance
Vanadium is also growing in importance to key industrial manufa cturing sectors most notably steel and
renewable energy. Today, more than 85 percent of the world’s va nadium is used in steel manufacturing
applications. Its importance to the energy sector is also growi ng rapidly with more than 10 percent of
vanadium production used in ener gy storage where its substantia l cost and performance benefits make it an
alternative choice to lithium ion in several areas.
About Cornerstone Metals Inc.
Cornerstone’s objective is to adva nce exploration/development s tage copper, precious and strategic
minerals properties to production in the Americas. The Company’ s Management and Board Core
Competence is in exploration, permitting, development, construction, and operation of mining projects.
The Company has an option to earn a 100% interest in the Carlin Vanadium Project, located in Elko
County 22km by road (14 miles) from the town of Carlin, Nevada, and is comprised of 72 contiguous
unpatented mineral claims totaling 461 hectares (1,140 acres). The Carlin Vanadium Project hosts the
Carlin Vanadium Deposit which is locally exposed on surface, wh ere it cuts topography, but mostly is
found at shallow depths, commonly between 0-60m (0-200 ft) below surface.
Cornerstone also owns 100% (subject to 1.5% NSR) of the West Je rome property, near Jerome, Arizona,
on the west side of Freeport McMoRan patented lands. The proper ty, in a Volcanogenic Massive Sulfide
camp, is a high-grade, massive sulfide target located 2.4 km so uth of the past-producing United Verde (32
million tons grading 4.4% copper, 1.5 oz/t silver 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
(604) 340-7711
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 re lease constitute "forward-looking" stat ements. These statements relate to
future events or the Company's fu ture performance and include the Company’s ability to meet the
conditions required to exercise in full its option to acquire the Carlin Vanadium project and with respect to
current and planned drill programs, the results of exploration prog rams, and changes in mineral
resources. All such statements involve subst antial known and unknown risks, uncertainties and other
factors which may cause the actual results to vary from those expressed or implied by such forward-
looking statements. Forward-looking statements invo lve significant risks and uncertainties, they should not
be read as guarantees of future performance or results, and they will not necessarily be accurate
indications of whether or not such results will be achieved. Actual results could differ materially from those
anticipated due to a number of factors and risks. Althoug h the forward-looking statements contained in this
news release are based upon what management of the Company believes are reasonable assumptions on
the date of this news release, the Company cannot assu re investors that actual results 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 obligati on to update or revise any
forward-looking statements whether as a result of new information, future events or otherwise, except as
required under applicable securities regulations.