Cornerstone Capital Resources Inc

Published : July 29th, 2010

and Thundermin intersect 2.3% Cu over 18.0 m, including 4.2% Cu over 5.5 m, in d

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


=======================================================================
Re:   News - Thursday, July 29, 2010
      10-16 - Cornerstone and Thundermin intersect 2.3% Cu over 18.0 m,
      including 4.2% Cu over 5.5 m, in deepest intersection to date at
      Little Deer
=======================================================================

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 2.3% Cu over a core length of 18.0 m, including 4.2%
Cu over 5.5 m, approximately 992 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).
This intersection, which is the deepest significant copper
mineralization intersected to date in the Deposit, suggests that there
is good potential to increase tonnages at depth at Little Deer. The
potential to increase tonnes at depth, however, is conjectural in
nature and additional drilling will be required to define the true
tonnage potential of the Deposit.

Table 1: Little Deer Drill Results
 
Hole No.  East (m)  North (m)  Dip (o)  Az (o)  From (m)   To (m)  Interval (m)*  Cu (%)
LD-10-37   13,141     4,635     -73.3    312.6     742.1    743.9     1.8 uz       5.8
                                                 1,055.0  1,073.0    18.0          2.3
incl                                             1,066.2  1,071.7     5.5          4.2
                                                 1,096.2  1,097.2     1.0          2.8
                                                 1,104.7  1,117.7    13.0          1.1
                                                 1,125.6  1,135.5     9.9          1.3
LD-10-38   13,141     4,635     -72.8    328.0     679.1    679.4     0.3 uz       7.9
                                                   900.0    906.8     6.8          1.7
                                                   925.7    938.2    12.5          1.0
incl                                               934.1    938.2     4.1          1.6
                                                   945.1    945.9     0.8          2.9
                                                   950.9    969.4    18.5          1.4
incl                                               956.6    963.0     6.4          1.9
                                                   989.8    996.1     6.3          2.2
LD-10-36   13,320     4,502     -64.1    317.7     662.6    667.8     5.2 uz       2.4
                                                   781.7    784.2     2.5          3.2
LD-10-35   13,141     4,635     -70.5    324.0     635.6    640.2     4.6 uz       1.9
                                                   661.5    662.0     0.5          2.5
                                                   762.0    780.6    18.6          1.3
incl                                               764.0    771.8     7.8          1.7

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.

uz  Relatively narrow but generally high grade upper zone also
intersected in previously reported holes LD-10-32, LD-10-32A, and
LD-08-09B.

Hole LD-10-34 -- no significant values.

The current $1,500,000 Diamond drilling program, which commenced on
February 3, 2010 and finished on June 29, 2010, consisted of 10,649 m
of NQ drilling in eight surface holes, three hole deepenings and four
wedge holes. Assay results for ten of these holes were presented in
Cornerstone and Thundermin news releases dated April 13 and April 29.
The results for the final five holes of the program are set out in
Table 1 and on Figure 1:
http://www.cornerstoneresources.com/i/maps/properties_nfld_littledeerlongsec.jpg. The primary goals of this drill program were to increase
the mineral resources outlined to date in the Deposit (see Mineral
Resource Estimate below) by an additional two to three million tonnes
at generally comparable copper grades, and to obtain fresh core samples
for metallurgical testing at SGS Lakefield Research ("Lakefield"). A
potential increase in the current mineral resource is conceptual in
nature and it is uncertain whether further exploration will result in
an expansion of this mineral resource.

Holes LD-10-35, LD-10-36, LD-10-37 and LD-10-38 were drilled to confirm
and expand the resource potential in the western portion of the Deposit
where previously announced, wide-spaced holes LD-08-16, LD-08-16A,
LD-08-16B, LD-08-09B and LD-10-32A intersected substantial thicknesses
of copper mineralization within wide zones of intense chlorite
alteration (see Table 1 and Figure 1). In addition, previously
announced hole LD-10-32 intersected an extensive, locally copper
bearing, chlorite alteration zone from approximately 922 to 1,142 m
below surface before the hole was abandoned due to drilling
difficulties.

The most significant of the new drill holes, LD-10-37, intersected 2.3%
Cu over a core length of 18.0 m, including 4.2% Cu over 5.5 m,
approximately 992 m below surface (see Figure 1). This intersection is
approximately 50 m below and 115 m west of hole LD-10-32A, which
intersected 2.1% Cu over 19.6 m, including 4.6% Cu over 5.9 m and 14.5%
Cu over 1.5 m, and approximately 60 m east and 145 m below hole
LD-08-16A, which intersected 1.2% Cu over 9.4 m and 1.5% Cu over 23.3
m, including 3.1% Cu over 6.2 m and 1.9% Cu over 15.8 m. Hole LD-10-37
also intersected wide zones of lower grade copper mineralization near
the bottom of the hole that assayed 1.1% Cu over 13.0 m and 1.3% Cu
over 9.9 m. The presence of substantial thicknesses of copper
mineralization within wide zones of intense chlorite alteration
suggests that there is a good possibility that the Deposit may extend
to depth in this area.

An upper, relatively narrow, but generally high grade copper zone has
been intersected in the western portion of the Deposit over a strike
length of approximately 200 m and over a vertical depth of
approximately 150 m. Intersections in this zone include 5.8% Cu over
1.8 m, 7.9% Cu over 0.3 m, 2.4% Cu over 5.2 m and 1.9% Cu over 4.6 m in
new holes LD-10-37, LD-10-38, LD-10-36 and LD-10-35, respectively (see
Table 1), and 8.8% Cu over 1.8 m, 5.5% Cu over 0.8 m and 0.8% Cu over
8.8 m in previously announced holes LD-10-32A, LD-08-09B and LD-10-32,
respectively. The total extent and significance of this zone is unknown
at the present time.

Hole LD-10-34 failed to intersect any significant sulphide
mineralization approximately 933 m below surface in the central portion
of the Deposit. A borehole Pulse EM survey is planned for this hole to
determine if there are any nearby sulphides that were missed by the
drilling.

Further Diamond drilling to expand the mineral resources within the
Deposit and to upgrade known resources from the Inferred to the
Indicated mineral resource category will await the receipt of final
results from the updated mineral resource estimate and the
metallurgical test work.

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.

Mineral Resource Estimate

On July 7, 2009, Cornerstone and Thundermin reported a National
Instrument 43-101 ("NI 43-101") mineral resource estimate for the
Deposit comprising Indicated Resources of 1,087,000 tonnes at an
average grade of 2.9% Cu and Inferred Resources of 1,950,000 tonnes at
an average grade of 2.3% Cu. The mineral resource estimate was prepared
by Mr. Reno Pressacco, M.Sc.(A), P.Geo., then Senior Geologist for
Micon International Limited of Toronto, Ontario, an independent
Qualified Person ("Q.P.") in accordance with NI 43-101. A NI 43-101
Technical Report supporting the mineral resource estimate was filed on
SEDAR on August 20, 2009.

An updated NI 43-101 compliant mineral resource estimate, to include
results from 26 holes drilled subsequent to May 2009, will commence
shortly and take approximately three weeks to complete.

Metallurgy

Metallurgical test work is on-going at Lakefield on fresh core samples
collected during the recent Diamond drilling campaign. This work is
focusing on determining copper recoveries, copper concentrate grades,
reagent consumption, power usage for grinding and the environmental
characteristics of any tailings products. Initial results suggest that
a very simple metallurgical process will be required to recover the
majority of the copper from the Little Deer sulphides. Final results
from the metallurgical test work are expected near the end of August
and will be reported when received. 

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 Cornerstone and Thundermin 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.

=======================================================================
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 Jul 29, 2010 at 5:15:00 AM Pacific Time
=======================================================================
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Gold and Silver Prices for these countries : Canada | Ecuador | All

Cornerstone Capital Resources Inc

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CODE : CGP.V
ISIN : CA21922J2083
CUSIP : 21922J208
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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$ 976.6 millions as of today (US$ 780.8 millions, € 684.0 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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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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