Cornerstone Receives Environmental Licence for Ecuador Project

24 July 2011 (Last Updated July 24th, 2011 18:30)

Cornerstone Capital Resources has been granted an environmental licence from Ecuador's Ministry of Environment for its Cascabel gold-copper project in northern Ecuador. Cornerstone has received the licence for the four-year initial exploration phase of the 50km² concession.

Cornerstone Capital Resources has been granted an environmental licence from Ecuador's Ministry of Environment for its Cascabel gold-copper project in northern Ecuador.

Cornerstone has received the licence for the four-year initial exploration phase of the 50km² concession.

The firm has commenced a prospecting programme, where stream sediment geochemical anomalies are being followed up to locate and characterise the source of the anomalies and to define the geological environment.

The Cascabel project area is underlain by cretaceous - tertiary volcanic and sedimentary rocks that are intruded by a granodioritic stock.

A well-defined multielement anomaly measuring approximately 10km² has been identified with associated large areas of silica-sericite-pyrite-clay alteration.