Cornerstone Capital Resources Inc

Published : February 25th, 2009

09-03 - Cornerstone and Thundermin provide update on the Little Deer copper property, Newfoundland

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Keywords :   Canada | Climatic | Copper | Diamond | Ecuador |


=======================================================================
Re:   News - Wednesday, February 25, 2009
      09-03 - Cornerstone and Thundermin provide update on the Little
      Deer copper property, Newfoundland
=======================================================================

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 a $900,000
exploration program consisting of approximately 5,800 m of Diamond
drilling and borehole Pulse EM surveys has been approved for the first
half of 2009 for the Little Deer copper property which is located
approximately 10 km north of Springdale in north-central Newfoundland.

The last two holes of the 2008 drilling campaign, LD-08-16 and
LD-08-17, also intersected significant copper mineralization (Table 1
and Figure 1 -- see link:
http://cornerstoneresources.com/i/maps/properties_nfld_littledeerlongsec.jpg).   Hole LD-08-16 intersected 1.3% Cu over a core length of 31.1
m, including 1.5% Cu over 18.8 m and 4.0% Cu over 3.4 m at a vertical
depth of 828 m. This hole intersected the mineralized zone
approximately 120 m below hole LD-08-10A, which intersected 2.2% Cu
over 16.8 m, including 3.9% Cu over 5.9 m. These are the westernmost
holes drilled to date on the property and the copper mineralization in
this area remains open to the east and west and at depth. Hole LD-08-17
(Figure 1) intersected three separate mineralized zones grading 1.8% Cu
over 6.6 m, 1.0% Cu over 11.3 m and 2.2% Cu over 3.5 m at a vertical
depth of 539 m. This hole is approximately 60 m west of historical hole
LD-00-12 that intersected 3.8% Cu over 10.7 m.   All mineralized widths
are core lengths; true thicknesses have yet to be determined.

Table 1: Little Deer Drill Results (2008)
Hole No.  East (m)  North (m)  Dip (o)  Az (o)  From (m)  To (m)  Interval (m)*  Cu (%)
LD-08-16  12,987     4,636     -72.0    319.5    888.3     919.4     31.1         1.3
incl                                             888.3     907.1     18.8         1.5
incl                                             888.3     891.7      3.4         4.0
incl                                             897.1     907.1     10.0         1.4

LD-08-17  13,404     4,499     -61.9    311.4    602.0     608.6      6.6         1.8
and                                              626.9     638.2     11.3         1.0
incl                                             626.9     631.5      4.6         1.6
incl                                             636.2     638.2      2.0         1.6
and                                              667.0     670.5      3.5         2.2

* Reported intervals are core lengths -- true thicknesses yet to be
determined.

The copper mineralization on the Little Deer property has now been
intersected over a strike length of approximately 1,050 m and to a
vertical depth of approximately 800 m.

A review of the underground Diamond drilling undertaken on the Little
Deer property by British Newfoundland Exploration Company ("BRINEX") in
1967-68 has been completed to the extent possible from known historical
mine records (as stored in the archives of the Department of Natural
Resources, St. John's, NL). The holes of primary significance to the
joint venture are listed in Table 2, in the notes to Table 2 and shown
on Figure 1. These intercepts are historical results which are believed
to be indicative of the grade and thickness of the mineralization in
this area but which have not been verified due to the lack of original
sample material, lab reports and in-hole survey data. 
 
Table 2: Historical Underground Drill Results
Hole No.  East (m)  North (m)  Dip (o)  Az (o)  From (m)  To (m)  Interval (m)  Cu (%)
8-146      13,977    4,713      -11.7   154.1     93.2     109.7      16.5       3.0
incl                                              93.2     100.8       7.6       5.3
8-147      13,977    4,713      -33.1   153.6    118.9     126.5       7.6       2.8
8-150      13,947    4,721      -34.0   151.5     65.5      78.3      12.8       3.5
incl                                              74.7      76.2       3.7       7.0
and                                               95.4     119.6      24.2       1.8
incl                                             114.3     119.6       5.3       4.1
8-151      13,947    4,721      -15.2   150.7     51.8      57.6       5.8       2.3
and                                               65.5      73.1       7.6       1.1
and                                               85.3      87.7       2.4       4.4
8-152      13,947    4,721       -8.0   151.5     42.7      59.5      16.8       1.7
8-159      13,981    4,729      -17.6   151.2     53.3      60.9       7.6       1.2
8-160      13,981    4,729      -27.3   151.2     57.3      68.9      11.6       2.1
8-161      13,981    4,729      -36.1   151.9     73.1      83.5      10.4       2.5
8-162      13,916    4,729      -36.1   152.5     71.6      77.2       5.6       4.6
8-163      13,916    4,729      -26.4   149.9     58.5      61.6       3.1       2.6
8-166      13,825    4,754      -47.1   153.2     72.5      75.9       3.4       2.0
8-167      13,795    4,754      -54.0   151.5     81.2      84.7       3.5       6.0
8-168      13,764    4,755      -51.0   151.5     60.2      62.2       2.0       3.9
8-170      13,961    4,722      -32.0   151.5     71.6      73.1       1.5       2.3
8-171      13,961    4,722      -22.0   151.5     59.4      77.4      18.0       5.8
incl                                              70.7      77.4       6.7      10.0
and                                              102.1     108.8       6.7       2.6
8-173      13,992    4,711      -12.0   151.5     22.4      25.6       3.2       1.0
8-174      13,992    4,711      -29.0   151.5    108.2     111.3       3.1       2.1
8-175      14,038    4,681      -18.0   149.9     91.4      92.9       1.5       1.7
and                                              112.2     115.9       3.7       7.0
and                                              131.1     132.3       1.2       3.1
8-177      13,852    4,577      -60.0    14.5    160.6     162.1       1.5       0.9
8-178      13,849    4,577      -60.0   331.5    166.1     172.2       6.1       1.4
8-179      13,847    4,577      -56.0   299.5    210.3     213.4       3.1       5.2
8-180      13,852    4,575      -53.0    49.5    194.0     195.1       1.1       5.5

Notes:
The majority of these holes were drilled from a cross-cut from the
Whalesback Mine and the intersections are true widths or approach true
widths.

Holes 1 (2.4% Cu/4.9 m), 2 (1.1% Cu/3.4 m), 3 (2.4% Cu/2.7 m), 4 (0.7%
Cu/1.5 m), 5 (2.4% Cu/2.7 m), 6 (1.3% Cu/35.4 m) and 7 (3.4% Cu/3.1 m)
shown on Figure 1: -- the hole locations and copper intersections for
these holes were recovered from an historical longitudinal section but
attempts to recover the actual drill logs from the historical files
have been unsuccessful.

Most of the BRINEX holes were drilled from a cross-cut from the
past-producing Whalesback Mine, which is located on joint venture
property approximately 1,000 m to the north of the Little Deer copper
deposit.  These holes intersected the copper-bearing zone from a
vertical elevation of -210 m to -380 m and the recorded intersections
represent close to true widths. Of significance, is the excellent
continuity of copper grades in this area of the deposit along with the
potential for increased tonnages in the area of holes 8-146, 147, 150,
151, 161 and 170. In addition, the intersections in holes 8-173, 174,
175 and 180 suggest that the copper mineralization extends farther to
the east than previously thought.

Priority targets for the current drill program, which will commence
immediately and run through the end of June 2009, include the area
around holes LD-98-07D (2.2% Cu over a core length of 74.0 m) and
LD-08-15 (2.7% Cu over 46.6 m); the area east and west of hole
LD-08-10A (2.2% Cu over 16.8 m); a new and previously untested, VTEM
airborne conductor situated along the northwest shore of Little Deer
Pond; and on the - 400 m elevation below historical holes LD-66-136
(2.0% Cu over 6.1 m) and LD-66-122 (1.6% Cu over 2.6 m) (Figure 1).

The thick zone of copper mineralization intersected in holes LD-98-07D
and LD-08-15 appears to occur to the north of the main zone
mineralization where it remains open down dip (plunge?) and to the
east. The exact relationship of this mineralization to the main zone
mineralization is unknown at the present time as only a few holes have
been drilled this far north at this elevation. Likewise, the copper
mineralization intersected in hole LD-08-10A remains open to the east,
west and at depth.  Both of these areas offer opportunities to expand
the mineralized zone and require additional drilling to further define
the extent and significance of the copper mineralization.

A geophysical conductor was identified on adjacent 100 m spaced flight
lines along the northwest side of Little Deer Pond during a VTEM
electromagnetic and magnetic survey flown in the fall of 2008. This
conductor, which occurs at a vertical depth of approximately 350 m
exhibits good conductivity and has not been drill tested. The conductor
may represent a new zone of copper-bearing sulphide mineralization or
it could be a faulted or folded extension of the Little Deer
mineralization.

The Little Deer property also appears to have potential at shallower
depths. A couple of wide-spaced holes on the 400 m elevation are
planned to further evaluate the area immediately west of the main area
of drilling. Here there are two 1966 holes which intersected copper
mineralization that require follow-up.

Cornerstone and Thundermin, the operator, 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,
July 25 and November 26, 2008 and on Cornerstone's and Thundermin's
respective websites and on SEDAR.

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 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 Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company
based in Mount Pearl, Newfoundland & 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. 

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.

=======================================================================
Copyright (c) 2009 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 Feb 25, 2009 at 5:15:00 AM Pacific Time
=======================================================================
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Cornerstone is a exploration company based in Canada.

Cornerstone develops uranium in Canada, and holds various exploration projects in Canada, in Chile and in Ecuador.

Its main asset in development is AILLIK in Canada and its main exploration properties are 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 and INDIAN ARM in Canada, MACARA, BELLA MARIA, MONTERREY and SIERRAMIN in Ecuador and LA FORTUNA CHILE in Chile.

Cornerstone is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 928.6 millions as of today (US$ 742.5 millions, € 650.4 millions).

Its stock quote reached its lowest recent point on March 04, 2016 at CA$ 0.02, and its highest recent level on September 18, 2020 at CA$ 6.53.

Cornerstone has 299 560 000 shares outstanding.

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12/4/2014Cornerstone Capital Resources Inc.: Final IP Interpretations...
12/2/2014Drill Core Intercept at Cascabel of 80m @ 2.72 g/t Gold and ...
12/1/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
11/25/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
11/10/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
11/4/2014Cornerstone Initiates Exploration on its Miocene Project, No...
10/27/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
9/10/2014Cascabel Exploration Update: Hole 8 Intersects Copper Sulphi...
8/26/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
8/8/2014Cornerstone Capital Resources Inc.: Warrant Listing
8/6/2014Cornerstone Capital Resources Inc.: Cascabel Update: Hole 7 ...
7/16/2014Cornerstone Intersects 597.26m @ 0.46 % Copper and 0.18 g/t ...
7/3/2014Cornerstone Reduces Miocene (Chile) Property Work Commitment...
6/23/2014Cornerstone Capital Resources Inc.: Cascabel Exploration Upd...
2/20/201414-04 - Cascabel Project Update - Copper Sulphide Mineraliza...
2/10/201414-03 - Cascabel Project Update - Copper Mineralization Exte...
1/30/201414-02 - Cascabel Project Update - Drilling Recommences at Ho...
1/22/2014Presentations - Executive Summary
1/14/201414-01 - Strong Porphyry Copper Gold Assays over 845 Metres i...
12/2/201313-30 - Cascabel Project Update -- Alpala Prospect - Drill H...
11/13/201313-28 - Cascabel Project Update -- Alpala Prospect - Drill H...
11/4/2013.: Drill Hole CSD-13-003 Intersects Long Runs of Visual Copp...
10/17/2013Company Update / Comments - The National Investor
10/13/2013Crystal becomes Cornerstone Investor in Rey
10/11/2013Company Updates / Comments
10/11/2013Released ASX Announcement: CNX Secures $3.4 million Cornerst...
10/10/2013Drills 100m of 0.50% Copper and 1 g/t Gold at Cascabel Proje...
7/25/2013CNX Announces New Cornerstone Investor and Rights Issue
6/11/201313-09 - Cornerstone appoints VP Exploration and grants incen...
5/1/201313-08 - Cascabel Project Update - 3D Geophysical Modeling, C...
4/1/201313-07 - Cornerstone Provides Corporate Update
3/25/201313-06 - Cornerstone reports 56.93 m at 1.16 g/t Gold and 0.3...
2/19/201313-04 - Cascabel Copper Porhyry Earn-In Agreement Re-negotia...
1/31/2013Provides Exploration Update
1/24/201313-02 - Cornerstone reports 46 m at 0.81 g/t Gold and 0.59% ...
1/11/2013Announces Results for Phase 3 Drilling at the Gama Prospect,...
1/11/2013Announces Results for Phase 3 Drilling at the Gama Prospect,...
11/14/201212-24 - Cornerstone Recovers Rights to Ca=F1a Brava Gold-Sil...
11/14/2012Recovers Rights to Caña Brava Gold-Silver Property, Ecuador
11/8/2012Announces Completion of Airborne Geophysical Survey and Prov...
10/15/2012Provides Exploration Update
10/15/2012Provides Exploration Update
10/3/2012Announces Prospecting Results on La Encrucijada Project, Ecu...
9/27/2012Announces Phase 3 Drilling Program at the Gama Prospect, Ecu...
9/20/2012(Cape Ray)12-19 - Cornerstone and Benton Resources sign letter of inte...
7/26/201212-16 - Cornerstone and Thundermin announce significant copp...
7/18/2012(Cape Ray)12-14 - Cornerstone Announces Initial NI 43-101 Compliant Mi...
6/29/20122012 AGM Presentation and Remarks
6/28/201212-13 - Cornerstone and Thundermin Retain P&E Mining Consult...
5/10/2012(Little Deer)12-10 - Cornerstone and Thundermin Extend Copper Mineralizat...
1/18/201212-02 - Wall Street Reporter Senior Analyst Interviews Corne...
1/13/201212-01 - Cornerstone Grants Incentive Stock Options
1/12/2012$5m Cornerstone Investment Agreement
12/30/201111-39 - Cornerstone Announces Management Changes
12/20/2011(Little Deer)11-38 - Cornerstone and Thundermin File NI 43-101 Technical ...
12/2/2011d Cornerstone Fact Sheet
9/26/2011Interview With the President, Brooke Macdonald
9/21/2011Corporate Update- September 21, 2011
9/13/201111-30 - Significant Porphyry Copper-Gold mineralization disc...
8/30/201111-28 - Cornerstone Reports 1.34% Copper and 58.0 g/t Silver...
5/25/2011Exploration Update
4/26/2011(Little Deer)11-15 - Cornerstone and Thundermin continue to intersect hig...
4/26/2011(Little Deer)and Thundermin Continue to Intersect High Grade Copper Over ...
4/15/2011Exploration Update
2/18/2011- No Material Change
1/25/2011CEO Letter to Shareholders
5/19/2010Options New Brunswick REE property
5/18/2010Corporate Update
5/17/201010-09 - Cornerstone reports significant progress on Ecuador ...
5/3/2010Intersect 4.6% Cu over 5.9 metres, including 14.5% copper ov...
4/16/2010Corporate Update
3/30/201010-05 - Cornerstone announces Phase II of Macar=E1 Strategic...
2/16/201010-03 - Cornerstone options Labrador rare metals and REE pro...
11/17/200909-26 - Cornerstone engages Investor Relations consultant
11/5/200909-24 - Ecuador Mining Regulations signed into law
10/16/2009Government of Ecuador confirms date of approval of Mining Re...
10/14/200909-21 - Cornerstone acquires new Lithium and Rare Metals pro...
9/29/200909-20 - Cornerstone acquires new Rare Metals and REE propert...
6/9/2009Corporate Update
6/4/200909-12 - Cornerstone to resume work on Macar=E1 project=2CEcu...
5/26/200909-11 - Cornerstone update on recommencement of work in Ecua...
3/3/200909-04 - Cornerstone updates mining law in Ecuador
2/27/2009Corporate Update
1/15/2009Cornerstone Update
1/13/2009 New Mining Law Approved in Ecuador
11/21/2008Cornerstone Update
9/30/2008approves new constitution, clears way for new mining law
9/25/2008Cornerstone Update
8/11/2008Monthly Update - Monday, August 11, 2008
7/14/2008personnel change
6/19/2008Update on Little Deer
6/11/2008and Altius form alliance to explore for copper in the Labrad...
5/22/2008adds claims in the Bay St. George evaporite basin
5/20/2008Report on the drilling on the Little Deer Copper project
5/7/2008acquires new uranium property
4/29/2008acquires property with potash potential
4/25/2008Participates in Industry- Canadian Government Meeting With E...
4/23/2008 Evaluates Impact of Mining Mandate in Ecuador
4/23/2008 Update
2/12/2008 and Newmont Sign Definitive Agreement on Ecuador Strategic ...
2/4/2008John C. Crosbie resigns from Cornerstone's Board. Mr. Crosb...
1/10/2008Monthly review
12/6/2007 Monthly Review
11/8/2007 Monthly Review
10/22/2007and Newmont to Explore Southern Ecuador
10/17/2007La Plata Update
10/16/2007provides update on the La Plata VMS project, Ecuador
10/11/2007September Update
9/10/2007August Update
8/29/2007partners with Phelps Dodge Corporation of Canada, Limited to...
8/3/2007July Update
7/26/2007announces 4.7% Zinc intercept in drilling by Mountain Lake R...
7/10/2007 and Thundermin Commence Drill Program on the Little Deer Co...
6/11/2007 May update - the Drills start turning
6/7/2007(Shyri)Provides update on geophysics at GAMA, Shyri project, southe...
5/15/2007Signs JV Agreement and Commences Drill Program on Cornerston...
5/7/2007plans to drill 26,000 metres on five projects in Canada and ...
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