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    which has been retracted and deleted, the specifics of which are set out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.

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
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin, ...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...