Welcome!

News Feed Item

Cornerstone Metals Inc. Clarifies Technical Disclosure

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/20/14 -- Cornerstone Metals Inc. (TSX VENTURE:CCC) ("Cornerstone" or the "Company") reports that, as a result of a review by the British Columbia Securities Commission (the "BCSC"), the Company is issuing the following news release to clarify certain technical disclosure.

Certain of the Company's disclosure contained in its Corporate Presentation and as posted on the Company's website included certain disclosures non-compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Company has now taken the following actions to clarify these non-compliant disclosures:

--  The Company has shut down its website and is in the process of amending
    the website relating to the Company's disclosure 
--  The Company's website previously contained non-compliant disclosure
    which has been retracted and deleted, the specifics of which are set out
    below. The non-compliant disclosure should not be relied upon. 
--  In those instances where the Company has clarified or revised previous
    disclosure, the Company advises readers not to rely on such previous
    statements as they may continue to be found in the public domain. 

Non-Compliant Exploration Targets

Lone Mountain Project, New Mexico

On the Company's website project disclosure for its Lone Mountain project and on slides 9 and 21 of its Corporate Presentation dated December 9, 2013, the Company has disclosed an exploration target for the Lone Mountain property, which is restricted by NI 43-101 section 2.3(1)(a) because it does not include the information and cautionary language required by section 2.3(2) of NI 43-101.

Accordingly, investors are cautioned that the exploration target at the Company's Lone Mountain project in New Mexico is conceptual in nature. The Potential Estimate for the leachable copper zone at Lone Mountain has a range between 110 and 160 million tonnes at between 0.20% and 0.29% copper. The estimate was based on all drill data (43 holes, 100-250m spacing), modeled in 3D for the near surface leachable copper zone and applied simple weighted averages of assays within modeled solids. The quoted figures are reported as an exploration target. The potential quantities and grades are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Company has updated its website material and its Corporate Presentation to include this information and cautionary language required by NI 43-101.

Twin Peaks Project, Arizona

On slide 9 of the Company's December 9, 2013 Corporate Presentation, the Company has disclosed an "exploration target" for the Twin Peaks property, which is restricted by NI 43-101 section 2.3(1)(a) because it does not include the information and cautionary language required by section 2.3 (2) of NI 43-101. The Company was in error and has deleted references to the exploration potential for the Twin Peaks property from its Corporate Presentation. The Company does not have an "exploration target" on Twin Peaks as defined by NI 43-101. Readers should not rely on the retracted statement because there is inadequate drilling and drill density at this time.

Selective Disclosure of Highest Values

On slides 9 and 16 of its December 9, 2013 Corporate Presentation, the Company disclosed previous exploration results for its Mimbres Project in New Mexico, by reporting only the highest or best values and used an "up to" basis for reporting values. This type of disclosure is not balanced or complete and may be misleading if high values are from selected samples or outliers. The Company has updated its Corporate Presentation to disclose a range of all available exploration results "from 15.2m @ 0.4% Cu to 43m @1% Cu" for the Mimbres Project.

Qualified Person

On the Company's Website, December 9, 2013 Corporation Presentation, and Corporate Overview, the Company did not identify and disclose the relationship to the Company of the qualified person who prepared or supervised the preparation of, or approved of the technical information disclosed, as required by NI 43-101 Section 3.1.

All technical disclosure information included in such disclosures was prepared under the supervision of Paul Cowley, P.Geo., President and CEO of the Company, a qualified person consistent with NI 43-101. The Company has updated its Website and Corporation Presentation. The downloadable Corporate Overview has been removed in its entirety from the Company's website.

On Behalf of Cornerstone Metals Inc.

Paul Cowley, President and CEO

Paul Cowley, P. Geo., President & CEO of the Company, is the Qualified Person under NI 43-101 who has reviewed and approved the technical content of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Cornerstone Metals Inc.
Paul Cowley
604-340-7711
[email protected]
www.cornerstonemetals.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Le...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.
CI/CD is conceptually straightforward, yet often technically intricate to implement since it requires time and opportunities to develop intimate understanding on not only DevOps processes and operations, but likely product integrations with multiple platforms. This session intends to bridge the gap by offering an intense learning experience while witnessing the processes and operations to build from zero to a simple, yet functional CI/CD pipeline integrated with Jenkins, Github, Docker and Azure...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Dhiraj Sehgal works in Delphix's product and solution organization. His focus has been DevOps, DataOps, private cloud and datacenters customers, technologies and products. He has wealth of experience in cloud focused and virtualized technologies ranging from compute, networking to storage. He has spoken at Cloud Expo for last 3 years now in New York and Santa Clara.
Enterprises are striving to become digital businesses for differentiated innovation and customer-centricity. Traditionally, they focused on digitizing processes and paper workflow. To be a disruptor and compete against new players, they need to gain insight into business data and innovate at scale. Cloud and cognitive technologies can help them leverage hidden data in SAP/ERP systems to fuel their businesses to accelerate digital transformation success.
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.