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Re: News - Thursday, April 29, 2010
10-07 - Cornerstone and Thundermin intersect 4.6% Cu over 5.9
metres, including 14.5% copper over 1.5 metres, within 19.6
metres of 2.1% copper in deep hole at Little Deer
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Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) and 50% joint venture partner
Thundermin Resources Inc. ("Thundermin") (THR:TSX) announce that they
have intersected 2.1% Cu over a core length of 19.6 m, including
intervals of 4.6% Cu over 5.9 m, and 1.8% Cu over 6.7 m, approximately
942 m below surface on the Little Deer Copper Deposit ("Deposit")
located approximately 10 km north of Springdale in north central
Newfoundland (see Table 1 and Figure 1, link at the end of this
release). The location and width of this intersection, which is the
deepest significant copper mineralization intersected to date in the
Deposit, suggest that there is ample potential to add additional tonnes
at depth at Little Deer. This potential increase in tonnes, however, is
conceptual in nature and additional drilling will be required in this
area of the Deposit to determine the true tonnage potential.
Table 1: Little Deer Drill Results
Hole No. East (m) North (m) Dip (o) Az (o) From (m) To (m) Interval (m)* Cu (%)
LD-10-32A 13,140 4,633 -75.3 326.3 740.0 741.8 1.8 8.8
and 1,002.9 1,022.5 19.6 2.1
incl 1,002.9 1,008.8 5.9 4.6
incl 1,006.3 1,007.8 1.5 14.5
incl 1,015.8 1,022.5 6.7 1.8
LD-10-32 13,140 4,633 -75.3 326.3 776.2 784.6 8.4 0.8
and 795.1 796.2 1.1 1.2
And 1073.3 1075.3 2.0 1.0
LD-10-33 13,620 4,548 -71.6 334.6 496.1 497.2 1.1+ 4.5
and 545.0 550.6 5.6 1.4
Notes:
.. * - Reported intervals are core lengths. The true thicknesses of the
various copper intersections are highly variable due to the stringer
nature of the mineralization. Management, however, believes that the
true thicknesses of the drill intercepts average approximately 70% -
75% of core lengths.
.. 32A - Wedge cut from original hole 32.
.. + - Interval also contains 2.7% zinc.
3-D modeling by Crone Geophysics & Exploration Ltd. of borehole Pulse
EM geophysical surveys that were conducted in numerous drill holes in
the Deposit suggested the presence of substantial conductive plates
lying east of hole LD-08-16A, below holes LD-09-23 and LD-09-21, and
also below holes LD-09-25A and LD-09-20 farther to the east (see Figure
1).
Hole LD-10-32 was planned to intersect the western conductive plate
midway between holes LD-08-16A and LD-08-09B (on section 13,150 E)
approximately 900 m below surface. This hole intersected an upper,
copper bearing chlorite alteration zone as well as an extensive,
locally copper bearing, chlorite alteration zone that extends from
approximately 992 m to 1,142 m below surface. Unfortunately, the hole
steepened significantly and was abandoned due to drilling difficulties.
The best copper intervals in this hole were 0.8% Cu over a core length
of 8.4 m, 1.2% Cu over 1.1 m and 1.0% Cu over 2.0 m. The presence of
the extensive chlorite alteration zone containing copper mineralization
suggests that the main zone copper mineralization persists to greater
depths in this area of the Deposit but was not completely tested by the
drill hole.
Hole LD-10-32A, a wedge cut from hole LD-10-32, intersected high grade
copper mineralization within strongly chloritized basalts at
approximately 682 m and 942 m below surface (see Table 1). The upper
interval assays 8.8% Cu over a core length of 1.8 m and appears to
correlate with the 0.8% Cu over 8.4 m intersected in hole LD-10-32. The
main copper bearing interval, which appears to correlate with the main
zone mineralization in nearby holes, assays 2.1% Cu over 19.6 m,
including 4.6% Cu over 5.9 m and 1.8% Cu over 6.7 m. This interval also
contains two narrow barren dykes similar to those seen elsewhere at
Little Deer within the main copper zone mineralization. Mineralized
samples from this hole, along with samples from holes LD-10-31,
LD-10-32, LD-10-33, LD-07-03A and LD-08-16B, are being sent to SGS
Lakefield Research Limited ("SGS") for metallurgical testing.
Hole LD-10-33 intersected 1.4% Cu over a core length of 5.6 m within
the main zone mineralization and 4.5% Cu and 2.7% Zn over 1.1 m higher
in the hole. Similar zinc rich zones have been intersected elsewhere
within the Deposit but their overall significance is not clearly
understood at the present time.
The current drilling is part of an on-going $1,500,000 diamond drilling
program comprising approximately 11,000 m of drilling employing two
drills that commenced in early February 2010 (see Cornerstone and
Thundermin news releases dated April 13, 2010 for assay results for the
first six holes of this program). Approximately 5,280 m of drilling
have been completed to date by deepening three holes, wedging of three
holes and drilling three new holes from surface. The primary purpose of
the current drill program is to increase the NI43-101 compliant mineral
resource outlined to date in the Deposit (see news release dated July
7, 2009) to five to six million tonnes and to obtain fresh core samples
for metallurgical testing at SGS. The locations of the holes that have
been, or are planned to be, drilled during the current program are
shown on Figure 1:
(http://www.cornerstoneresources.com/i/maps/properties_nfld_littledeerlongsec.jpg). The potential increase of the current mineral resource
is conceptual in nature and it is uncertain whether further exploration
will result in an expansion of this mineral resource.
Little Deer Joint Venture
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 Deposit
and the terms of the agreement with Weyburn can be found in numerous
news releases and on Thundermin's and Cornerstone's respective websites
and on SEDAR.
Qualified Person
Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager,
Cornerstone Resources Inc., is the Q.P. responsible for supervising the
drilling program on the property for the purposes of NI 43-101. Mr.
Hussey has also reviewed the contents of this news release for
accuracy. All holes drilled by Thundermin and Cornerstone are NQ in
size. Specific gravity measurements, rock quality designations 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.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company
based in Mount Pearl, Newfoundland and Labrador, Canada, with a
diversified portfolio of projects in Canada and Ecuador and a strong
technical team that has proven its ability to identify, acquire and
advance properties of merit. The company's business model is based on
generating exploration projects whose subsequent development is funded
primarily through joint venture partnerships.
Further information is available on Cornerstone's website:
www.cornerstoneresources.com or for investor, corporate or media
inquiries, please contact:
Martti Kangas,
Investor Relations
North America toll-free: 1 (877) 277-8377
Direct Line: 1 (647) 521-9261
Email: communications@crigold.com
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, predicting natural geological phenomena 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 except where
outcomes have varied materially from the original statements.
On Behalf of the Board,
Colin B. McKenzie
President & CEO
Neither 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.
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Copyright (c) 2010 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 Thu Apr 29, 2010 at 5:00:00 AM Pacific Time
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cornerstone est une société d’exploration minière basée au Canada. Cornerstone est en développement de projets d'uranium au Canada, et détient divers projets d'exploration au Canada, au Chili et en Equateur. Son principal projet en développement est AILLIK au Canada et ses principaux projets en exploration sont CHALEUR, ANAKTALIK, AUCOIN, LABRADOR TROUGH, VOISEY'S BAY PROPERTY, DEER LAKE PROJECT, DORCHESTER, GOSHEN, EL STRATO, LONG LAKE, NOTAKWANON LAKE, TRUE GRIT, CAPE RAY, COLCHESTER, CODROY PROJECT, LONG HARBOUR, OKAK, GARLAND, KAUK, KONRAD, NOEL PAUL'S BROOK, BOBBY'S POND, LITTLE DEER, CONEY ARM et INDIAN ARM au Canada, MACARA, BELLA MARIA, MONTERREY et SIERRAMIN en Equateur et LA FORTUNA CHILE au Chili. Cornerstone est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 185,0 millions (147,9 millions US$, 139,4 millions €). La valeur de son action a atteint son plus bas niveau récent le 04 mars 2016 à 0,02 , et son plus haut niveau récent le 18 septembre 2020 à 6,53 . Cornerstone possède 47 442 200 actions en circulation. |