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Cornerstone Metals Closes the Carlin Vanadium Project Transaction and Files Technical Report on Carlin Vanadium Project
Vancouver, British Columbia--(Newsfile Corp. - November 9, 2017) - Cornerstone Metals Inc. (T...
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[{"type":"text","content":"Cornerstone Metals Closes the Carlin Vanadium Project Transaction and Files Technical Report on Carlin Vanadium ProjectVancouver, British Columbia--(Newsfile Corp. - November 9, 2017) - Cornerstone Metals Inc. (TSXV: CCC) (\"Cornerstone\" or the \"Company\") is pleased to announce the TSX Venture Exchange has accepted for filing the assignment of the property option agreement dated September 22, 2017 (the \"Assignment Agreement\") between the Company and Americas Gold Exploration, Inc. (\"AGEI\"). Consequently, Cornerstone has closed on AGEI's assignment to the Company of a 100% optioned interest in certain mineral claims referred to as the Carlin Vanadium/Black Kettle Project Property in Nevada (the \"Property\" or the \"Carlin Vanadium Project\"). Further details on the Assignment Agreement are set out below. Paul Cowley, President and CEO comments, \"Another milestone has been reached. With the closing of the Carlin Vanadium transaction, the Company will seek drill permits as expeditiously as possible to initiate an infill diamond drill program. The project has exceptional technical merits, setting, location and infrastructure available to it.\"In addition, the Company has filed on SEDAR a Technical Report on the Property entitled NI 43-101 Technical Report on the Carlin Vanadium Project, Carlin, Nevada dated October 26, 2017 (the \"Technical Report\") authored by Bart Stryhas, PhD, CPG and John Cooper, P.E. of SRK Consulting (US) Inc. (\"SRK\"). The Carlin Vanadium Project 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 topogr...