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    which has been retracted and deleted, the specifics of which are set out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
Updating DevOps to the latest production data slows down your development cycle. Probably it is due to slow, inefficient conventional storage and associated copy data management practices. In his session at @DevOpsSummit at 20th Cloud Expo, Dhiraj Sehgal, in Product and Solution at Tintri, will talk about DevOps and cloud-focused storage to update hundreds of child VMs (different flavors) with updates from a master VM in minutes, saving hours or even days in each development cycle. He will also...
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze 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. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
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...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
The unique combination of Amazon Web Services and Cloud Raxak, a Gartner Cool Vendor in IT Automation, provides a seamless and cost-effective way of securely moving on-premise IT workloads to Amazon Web Services. Any enterprise can now leverage the cloud, manage risk, and maintain continuous security compliance. Forrester's analysis shows that enterprises need automated security to lower security risk and decrease IT operational costs. Through the seamless integration into Amazon Web Services, ...
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...