Cornerstone Metals Drills 47.5m @ 1.08% V2O5 on its Carlin Vanadium Project
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Cornerstone Metals Drills 47.5m @ 1.08% V2O5 on its Carlin Vanadium Project
April 17, 2018 ‐ Vancouver, British Columbia – Cornerstone Metals Inc. (TSX‐V: CCC) (OTCQB: CCCCF)
(FSE: 1PY) (“Cornerstone” o r t h e “Company”) announces the results of the final 7 holes, DDC18‐14 to
DDC18‐20, of the 20‐hole confirmation diamond drilling program on its Carlin Vanadium Project, Nevada.
The Carlin Vanadium Project is one of the largest, richest primary vanadium deposits in North America
(USGS Professional Paper 1802 Crit ical Mineral Resources of the United States—Economic and
Environmental Geology and Prospects for Future Supply dated December 18, 2017).
The confirmation drill program:
Confirmed and improved the confidence of the geological model of the deposit
Confirmed and improved continuity of grade and thickness of the high‐grade near surface
vanadium unit
Provided samples from across the full span of the deposit for m etallurgical test work, which has
been initiated through Sherritt Technologies
Based upon the strong results of the confirmation drill program , together with a review of historic data,
Cornerstone Metals is now planning a Phase 2 drill program comp rised of a 50 – 70 hole reverse
circulation drill program with the objective to expand the dime nsions of the deposit before completing a
resource estimate. Permitting necessary to support the Phase 2 program is in place and Cornerstone has
put the drill program out to tender.
“The grades and widths from our drilling have been highly encou raging. The success of the 20‐hole
confirmation drill program enables us to embark on a Phase 2 dr illing program, which we see as a
v a l u a b l e c o s t e f f e c t i v e p l a n ‐ o f ‐ a c t i o n f o r o u r s h a r e h o l d e r s , ” said Cornerstone President and Chief
Executive Officer Paul Cowley.
New Drill Results in Detail
The Carlin Vanadium deposit covers an area 2km long by up to 70 0m wide and can be subdivided into 4
sectors; the Southern, Central, Northern and Western sectors. Th e s e v e n f i n a l r e p o r t e d h o l e s s p a n t h e
Southern, Central and Northern sectors. An updated map has been placed on the Company’s website
(http://cornerstonemetals.ca/images/Resource‐verification‐drilling‐A‐F.jpg) to graphically demonstrate
the Cornerstone and historic drill hole collars, outer limits of the historic resource and the sectors. The
section lines A through D and the first 13 confirmation holes w ere described in the February 28, 2018 and
March 4, 2018 news releases.
Four newly reported holes, DDC18‐17 through DDC18‐20 are in the Southern sector along the 400m long
Section line F on the map and tabled below with Cornerstone Metals’ and Union Carbide’s h oles along the
section line. From the table below, the average grade of drill intercepts within the high‐grade vanadium
unit along Section line F is 0.88% V2O5.
Intercepts Along Section F
Hole ID From (m) To (m) Length (m) V2O5 % Zn (%) Ag (g/t)
DDC18‐20 19.50 52.00 32.50 0.82 0.37 5.4
R‐83 41.15 76.20 35.05 1.16 0.38 N/A
DDC18‐17 43.50 77.00 33.50 0.83 0.26 5.6
R‐16 0.00 24.38 24.38 1.17 N/A N/A
DDC18‐18 51.00 87.00 36.00 1.09 0.56 4.7
DDC18‐19 28.50 76.00 47.50 1.08 0.43 5.9
R‐94 18.29 76.20 79.25 0.96 0.46 N/A
R‐5 10.67 64.01 53.34 0.44 N/A N/A
R‐96 6.10 41.15 35.05 0.43 0.12 N/A
R holes are historic drill holes, N/A = not analyzed
The Southern sector appears to be a faulted segment of the depo sit, as the high‐grade vanadium unit dips
from 15‐35o, unlike the horizontal orientation of the rest of the deposit. True thickness estimates of
intercepts in the Southern sector are 80‐95% of the intercept l ength. The estimated average true
thickness of the high‐grade vanadium unit from holes along Section line F is roughly 30 metres.
Holes DDC18‐15 and 16 lie along the 620m long north‐south Sectio n l i n e E o n t h e m a p a n d a r e t a b l e d
below with other intercepts from both Cornerstone Metals’ and U nion Carbide’s holes along the section
line. Section line E spans the Central and Northern sectors of the deposit. From the following table, the
average grade and true thickness of the high‐grade vanadium uni t from intercepts along Section line E is
0.76% V2O5 and 34.3 metres.
Intercepts Along Section E
Hole ID From (m) To (m) Length (m) V2O5 % Zn (%) Ag (g/t)
R‐25 0.00 18.29 18.29 0.90 N/A N/A
R‐9 0.00 28.96 28.96 0.64 N/A N/A
R‐6 16.76 36.58 19.82 1.23 0.32 N/A
R‐12 19.81 56.39 36.58 0.94 0.11 N/A
DDC18‐15 1.83 43.00 41.17 0.38 0.10 3.3
R‐61 15.24 53.34 38.10 0.54 0.14 N/A
R‐66 59.44 77.72 18.28 0.59 0.17 N/A
DDC18‐16 8.50 71.50 63.00 0.83 0.55 15.9
R‐67 12.19 60.96 48.77 0.92 0.35 N/A
R‐69 1.52 41.15 39.63 0.74 0.60 N/A
R‐21 3.05 47.24 44.19 0.81 N/A N/A
R‐48 27.43 60.96 33.53 0.98 0.42 N/A
R‐46 9.14 24.38 15.24 0.40 0.32 N/A
R holes are historic drill holes, N/A = not analyzed
Hole DDC18‐14 falls along the 620m long Section line A on the m a p a n d t a b l e d b e l o w w i t h o t h e r
intercepts from both Cornerstone Metals’ and Union Carbide’s ho les, which were previously reported on
February 28, 2018. From the following table, the average grade and true thickness of the high‐grade
vanadium unit from intercepts along Section line A is 0.75% V2O5 and 23.7 metres.
Updated Table of 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
DDC18‐14 20.50 56.50 36.00 0.77 0.35 5.4
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; DDC17‐04 to 06 previously reported
Additional Twinned Hole Results
Two of the newly reported holes specifically twinned Union Carbide rotary holes from 1967 to confirm
and compare rotary results (depth, thickness and grade of the h igh grade vanadium unit) to diamond drill
core results. In both cases the twinned holes compared very wel l with Union Carbide holes in the depth,
thickness and grade of the high‐grade vanadium unit.
Twinned Holes Comparison
Company Hole ID From (m) To (m) Length (m) V2O5 % Zn (%) Ag (g/ t)
Union Carbide R‐94 18.29 76.20 57.91 0.96 0.46 N/A
Cornerstone
Metals
DDC18‐19 28.50 76.00 47.50 1.08 0.43 5.9
Union Carbide R‐67 12.19 60.96 48.77 0.92 0.35 N/A
Cornerstone
Metals
DDC18‐16 8.50 71.50 63.00 0.83 0.49 15.9
The confirmation drilling program was supervised by Paul Cowley , P.Geo., President and CEO of the
Company and the Qualified Person for the program. Drill core re coveries averaged 85%. Industry standard
quality control and quality assurance protocols have been follo wed in handling, sampling and shipping the
core. The core has been photogra phed, geotechnically logged and geologically logged. Extensive specific
g r avi t y m e asu r e m e nt s h ave b e e n t ak en on th e c or e t o ai d in a f uture mineral resource estimation. The
c o r e h a s b e e n c u t i n h a l f , w i t h o n e h a l f s e n t f o r a n a l y s i s a n d 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.
The Carlin Vanadium deposit has a historic Inferred mineral res ource estimate of 28 million tons at
0.515% vanadium pentoxide (V2O5), having a total metal content of 289 million pounds V2O5, defined by
D r . B a r t S t r y h a s o f S R K C o n s u l t i n g ( U S A ) , I n c . i n 2 0 1 0 . T h e e s timate was based on a 0.3% V2O5 cut‐off
grade with the reasonable potential for economic extraction unde r a c o n c e p t u a l o p e n p i t m i n i n g a n d
milling scenario and defined by 127 rotary holes completed by Union Carbide in the late 1960s. V2O5
grades were estimated using an I nverse Weighting to the second power. The results of the 2010 resource
estimation provided a CIM classified Inferred Mineral Resource. The quality of the historical data was
good and the Mineral Resource was classified as inferred mainly due to the fact that the rotary drilling
had not been verified by a modern program. The historical estimate does not include any recent data
available to the Company. The Company is not treating this hist o r i c a l e s t i m a t e a s c u r r e n t m i n e r a l
resources and as such, should not be relied upon. The work need ed to upgrade the historical estimate as
c u r r e n t m i n e r a l r e s o u r c e s i s t o u s e c u r r e n t c o s t s a n d m e t a l p r ices and include the results from the
verification diamond drilling program.
Vanadium’s Growing Importance for Steel Manufacturing
Vanadium is growing in importance for key industrial manufactur ing 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 growing rapidly with more than 10 percent of
vanadium production used in energy storage where its substantia l cost and performance benefits make it
an alternative choice to lithium ion in several areas. Vanadium pentoxide flake prices have risen over the
last 2.5 years from under US$3/lb to US$15.40/lb today.
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. The Company’ s management and board core
competence is in exploration, permitting, development, construction, and operating high value mining
projects.
Cornerstone Metals 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. T h e p r o j e c t i s c o m p r i s e d o f 7 2
contiguous unpatented mineral claims totaling 461 hectares (1,140 acres). The Carlin Vanadium Project
hosts the Carlin Vanadium Deposit which is locally exposed on s urface, where it cuts topography, but is
mostly found at shallow depths, commonly between 0‐60m (0‐200 ft) below surface.
Cornerstone Metals also owns 100% (subject to 1.5% NSR) of the West Jerome property, near Jerome,
Arizona, on the west side of Freeport McMoRan patented lands. T he property, in a Volcanogenic Massive
S u l f i d e c amp , i s a h ig h ‐ g r ad e , m assi ve su l f i d e t ar g e t l oc at e d 2.4 km south 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 release constitute "forward‐loo king" statements. These statements relate
to future events or the Company's future performance and include the Company’s ability to meet the
conditions required to exercise in full its option to acquire t he Carlin Vanadium project and with respect to
current and planned drill programs, the results of exploration programs, and changes in mineral resources.
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 im plied by such forward‐looking statements.
Forward‐looking statements involve significant risks and uncert ainties, 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 co uld differ materially from those anticipated
due to a number of factors and risks. Although 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 assure investors that actual results will be consistent with
these forward‐looking statements. The forward‐looking statements contained in this press release are
made as of the date hereof and the Company disclaims any intent ion or obligation to update or revise any
forward‐looking statements whether as a result of new informati on, future events or otherwise, except as
required under applicable securities regulations.