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Re: News - Wednesday, November 26, 2008
08-29 - Cornerstone and Thundermin intersect 2.7% Cu over 46.6 m,
including 4.7% Cu over 16.6 m on the Little Deer Property,
Newfoundland
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNFN) and 50% joint venture partner
Thundermin Resources Inc. (TSX--THR) announce that they have
intersected a substantial thickness of copper sulphide mineralization
within hole LD-08-15 on the Little Deer property. The intercept grades
2.7% Cu over a core length of 46.6 m, including intervals of 2.0% Cu
over 20.5 m and 4.7% Cu over 16.6 m (Table 1 and Figure 1
[http://cornerstoneresources.com/i/maps/properties_nfld_littledeerlongsec.jpg]). Hole LD-08-15 is a follow-up hole to LD-98-07D, located approximately 30 m to the north-northwest, that graded 2.2% Cu over a
core length of 74.0 m, including intervals of 2.6% Cu over 13.0 m, 2.8%
Cu over 7.3 m and 4.0% Cu over 22 m. The true thicknesses of these
intervals have yet to be determined.
Table 1: Little Deer Drill Results
Hole No. East (m) North (m) Dip (�) Az (�) From (m) To (m) Interval (m)* Cu (%)
LD-08-15 13580 4543 -71.9 324.8 631.8 678.4 46.6 2.7
incl. 631.8 652.3 20.5 2.0
incl. 661.8 678.4 16.6 4.7
LD-08-14 13580 4543 -68.7 323.3 511.5 516.7 5.2 3.0
LD-08-13 13090 4597 -68.5 324.5 609.1 610.6 1.5 3.4
675.4 683.5 8.1 1.3
incl. 675.4 678.4 3.0 1.7
incl. 681.5 683.5 2.0 1.9
LD-08-12 12977 4652 -66.6 315.1 Minor massive sulphides in large alteration zone
LD-08-11 13533 4545 -67.7 328.2 529.6 530.8 1.2 2.2
LD-08-09A 13090 4597 -70.5 343.8 Large alteration zone
LD-08-16 12977 4652 -72.9 319.5 Currently drilling
* - Reported intervals are core lengths
A -- Previous holes deepened
The copper-rich sulphide intersection in hole LD-08-15 consists of
disseminated, stringer, semi-massive and massive sulphides containing
variable amounts of chalcopyrite, pyrrhotite and pyrite within strongly
altered mafic volcanic rocks. This intersection, as well as that in
hole LD-98-07D lie to the north of the high-grade copper horizon (the
"Main Zone") that has been the focus of the drilling program carried
out on the property to date. The exact attitude and lateral extent of
this mineralization is unclear at the present. However, this
mineralization remains open along strike and to depth and the
possibility exists of developing a high-grade copper mineral resource
in this area of the property.
Recently completed hole LD-08-14 intersected a zone of chalcopyrite,
pyrrhotite and pyrite mineralization grading 3.0% Cu over a core length
of 5.2 m within strongly altered mafic volcanic rocks which correlate
with the Main Zone mineralization. Minor amounts of sphalerite,
chalcopyrite and pyrite mineralization were also encountered in this
hole at the projected location of the mineralization intersected in
holes LD-98-07D and LD-08-15.
In the western portion of the property, holes LD-08-09A, LD-08-12 and
LD-08-13 were drilled to evaluate the predominantly semi-massive to
massive pyrrhotite-chalcopyrite mineralization encountered in hole
LD-08-10A that assayed 2.2% Cu over a core length of 16.8 m, including
3.9% Cu over 5.9 m (Table 1 and Figure 1). Hole LD-08-09A intersected
a large alteration zone that is interpreted to be associated with the
massive sulphide mineralization encountered in hole LD-08-10A. Hole
LD-08-12 intersected 0.3 m of massive sulphides within a large zone of
strongly altered mafic volcanic rocks containing disseminated sulphides
which are interpreted to be the upper edge of the massive sulphides
encountered in hole LD-08-10A. Hole LD-08-13 intersected two zones of
stringer pyrrhotite-chalcopyrite-pyrite mineralization in altered mafic
volcanic rocks assaying 3.4% Cu over 1.5 m and 1.3% Cu over 8.1 m (both
core lengths). Hole LD-08-16 is currently being drilled to intersect
the projected copper mineralization 100 m below the intersection in
hole LD-08-10A.
Borehole Pulse EM surveys were recently completed on historical hole
LD-00-12 and new holes LD-07-01A, LD-08-09A, LD-08-10A, LD-08-11,
LD-08-12 and LD-08-13 to better understand the possible extent of the
copper mineralization in the vicinity of these holes. Holes LD-08-12
and LD-08-13 both contain strong, 20-channel off-hole responses
suggesting that a conductive body exists a short distance below each of
these holes. Hole LD-08-10A contains a strong, 20-channel in-hole
response which corresponds to the massive sulphides encountered in this
hole. The profile of the anomaly in hole LD-08-10A, in conjunction
with the geophysical responses in the other nearby holes along with the
extensive alteration zone encountered in hole LD-08-09A, suggests the
sulphide mineralization encountered in hole LD-08-10A could occur over
a considerable area beneath holes LD-08-12 and LD-08-13 and east, west
and below hole LD-08-10A. The geophysical interpretation of the
downhole responses for holes LD-00-12, LD-07-01A and LD-08-11 is
pending.
A 227 line km airborne VTEM magnetics and EM geophysical survey was
recently completed over claims lying immediately east of the Little
Deer and Whalesback copper deposits. These claims cover geology
prospective for base metal and/or gold deposits. The VTEM survey
successfully identified five conductive trends within the southeast
portion of the property which are considered to be priority targets and
warrant further follow-up.
Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager,
Cornerstone Resources Inc., is the qualified person that is responsible
for supervising the drilling program on the property for the purposes
of National Instrument 43-101. Mr. Hussey is also the qualified person
that has reviewed and approved the contents of this release. All 2007
and 2008 drill holes are NQ in size. Specific gravity measurements,
rock quality determinations and photographic logging of significant
mineralized intersections are performed systematically prior to
assaying. The core is logged and the mineralized sections, where
appropriate, are sawn in half at a core logging facility in Springdale.
Half of the core is submitted for analyses to Eastern Analytical
Limited an independent and qualified assayer located in Springdale and
the remaining half of the core is kept for future reference. Blanks,
duplicates and standards are routinely used as part of the assay
procedures.
Cornerstone and Thundermin would like to acknowledge the financial
support received from the Junior Exploration Assistance (JEA) Program
of the Province of Newfoundland and Labrador in carrying out a portion
of their work on the Little Deer property.
About the Little Deer Joint Venture
The past-producing Little Deer copper property is located approximately
10 km north of Springdale in north-central Newfoundland. High-grade
copper mineralization has now been intersected on the property over a
strike length of approximately 900 m and to a vertical depth of
approximately 700 m. In addition, a surface DEEPEM geophysical
conductor, which is coincident with the copper mineralization, is
interpreted to extend 300 m southwest of the intersection in hole
LD-08-10A. The current diamond drilling and borehole and airborne
geophysical surveys are part of an approximately $1,000,000 exploration
program that will be completed by year-end. The remainder of the
program will focus on the delineation of the high-grade copper
mineralization intersected in hole LD-08-10A with the view of being
able to undertake a preliminary mineral resource estimate for the
property.
Thundermin, the operator, and Cornerstone have the option, on a 50/50
basis to earn a 100% interest in the Little Deer copper deposit and
adjacent property from Weyburn Investments Ltd. Thundermin, under its
joint venture agreement with Cornerstone, has the right to increase its
interest in the Little Deer property to 75% by completing a feasibility
study and by arranging 100% of the necessary bank financing required to
place the property into commercial production. Details on the Little
Deer copper deposit and the terms of the agreement with Weyburn can be
found in news releases dated May 1, June 21, July 9, October 30,
December 11, 2007 and January 24, April 9, May 15, June 6, June 17 and
July 25, 2008 and on Cornerstone's and Thundermin's respective websites
and on SEDAR.
Cautionary Notice:
This news release may contain 'Forward-Looking Statements' that involve
risks and uncertainties, such as statements of Cornerstone's plans,
objectives, strategies, intentions and expectations. The words
"potential," "anticipate," "forecast," "believe," "estimate," "expect,"
"may," "project," "plan," and similar expressions are intended to be
among the statements that identify 'Forward-Looking Statements.'
Although Cornerstone believes that its expectations reflected in these
'Forward-Looking Statements' are reasonable, such statements may
involve unknown risks, uncertainties and other factors disclosed in our
regulatory filings, viewed on the SEDAR website at www.sedar.com. For
us, uncertainties arise from the behaviour of financial and metals
markets and from numerous other matters of national, regional, and
global scale, including those of an environmental, climatic, natural,
political, economic, business, competitive, or regulatory nature.
These uncertainties may cause our actual future results to be
materially different than those expressed in our Forward-Looking
Statements. Although Cornerstone believes the facts and information
contained in this news release to be as correct and current as
possible, Cornerstone does not warrant or make any representation as to
the accuracy, validity or completeness of any facts or information
contained herein and these statements should not be relied upon as
representing its views subsequent to the date of this news release.
While Cornerstone anticipates that subsequent events may cause its
views to change, it expressly disclaims any obligation to update the
Forward-Looking Statements contained herein.
On Behalf of the Board,
Colin B. McKenzie
President & CEO
Further information is available on the Cornerstone Web site at
www.cornerstoneresources.com; via e-mail at communications@crigold.com;
or toll free at 1-877-277-8377.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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Copyright (c) 2008 CORNERSTONE CAPITAL RESOURCES INC. (CGP) All rights
reserved. For more information visit our website at
http://www.cornerstoneresources.com/ or send
mailto:info@cornerstoneresources.com
Message sent on Wed Nov 26, 2008 at 5:15:00 AM Pacific Time
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