Vancouver, British Columbia--(Newsfile Corp. - December 12, 2017) - Cornerstone Metals Inc. (TSXV: CCC) ("Cornerstone" or the "Company") announces that it has received from the U.S. Bureau of Land Management (BLM) its Notice of Intent (NOI) permit to conduct a diamond drill program on its Carlin Vanadium Project near Carlin, Nevada. The Company has posted the required reclamation bond with the BLM and now has authorization to proceed with the program. The Company is making arrangements to start the program before mid December.
The program is designed with 20 vertical HQ holes totaling approximately 1,800m with the objective to in-fill the existing 132 hole drill pattern defining the vanadium deposit for grade and geological model verification. With this in-fill drill program, drill hole density will be approximately 45m spacing for improved confidence.
The Carlin Vanadium Project contains one of the United States' largest known primary deposits of vanadium, an industrial mineral critical to industries ranging from steel to utility scale battery storage technology. The Company's analysis illustrates that the Nevada site's vanadium deposit features a combination of high-quality grade and unsurpassed accessibility.
"We received our drill permit in the record time of three weeks," said President and Chief Executive Officer Paul Cowley. "The speed with which our permit was approved reinforces our view that we are operating in a very favourable jurisdiction with significant infrastructural advantages."
About Cornerstone Metals Inc.
Cornerstone's objective is to advance exploration/development stage 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, which has one of the largest known primary vanadium deposits in the U.S.A. The Carlin Vanadium Project is 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 deposit was discovered by Union Carbide Corp. (UCC) in the 1960's, which completed surface mapping, trenching and 152 rotary drill holes in 11,133m (36,525 feet) of drilling. The average drill hole spacing was 60m (200ft) apart within the more densely drilled 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 dip extent from surface. The mineralized unit is locally exposed on surface, where it cuts topography, but mostly is found at shallow depths, commonly between 15-60m (50-200 ft) below surface.
Cornerstone 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. 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 silver and 0.04 oz/t gold). The West Jerome property has attractive untested drill targets.
