Geophysical surveys define drill targets at Cornerstone's Konrad Nickel project in Labrador.
Mount Pearl, NL, Canada - March 3, 2008 - Cornerstone Capital Resources Inc. (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) provides the following update on 2007 exploration results and plans for 2008 exploration on its 100% owned Konrad Nickel Project in northern Labrador.
The Konrad project, located approximately 50 km west of Voisey's Bay, is targeting Voisey's Bay-type magmatic, nickel-copper massive sulphide mineralization. During 2004-2005 it was the subject of an earn-in/joint venture with Falconbridge Nickel.
The Konrad property covers several exposures of olivine gabbro and troctolitic rocks intermittently exposed over a distance of approximately 18 kilometres (for map check www.cornerstoneresources.com/konrad.htm). The Konrad gabbros are geochemically, texturally, and compositionally very similar to the host rocks of the Voisey's Bay nickel-copper deposits. They have a similar age and are thus considered to represent the western extension of the Voisey's Bay magmatic system, indicating an environment with potential to host Voisey's Bay-type nickel-copper magmatic sulphides. The shape and surface expression of the Konrad gabbros also indicate a "feeder-dyke" geometry likely fed by a deeper magma chamber, a feature considered important for development of nickel-copper magmatic sulphide deposits.
Based on the geometry of the Konrad gabbros, we infer that potential nickel-copper massive sulphide mineralization would occur at depths exceeding 300 m below surface. The 2007 exploration program, comprising airborne gravity and ground Sparton Magneto-telluric (MT) surveying, was designed to detect targets for drilling which may indicate potential zones of mineralization at those depths. These survey techniques have proven successful in delineating mineralization beyond these depths in a number of environments including at Voisey's Bay.
Cornerstone contracted Bell Geospace of Houston, Texas, in 2007 to complete a 456 line-km Full Tensor Airborne Gravity Gradiometry (FTG) survey. The results indicated several positive gravity features (gravity highs) including distinct anomalies associated with the Konrad gabbro exposures. Six areas, including the three main Konrad gabbro exposures, were subsequently selected for follow-up ground SpartonTM MT surveying by Quantec Geosciences of Mississauga Ontario. These areas were surveyed using 1.0 to 1.5 km long lines spaced 300 m apart.
The MT surveys were completed in early November. Preliminary results have identified nine distinct anomalies occurring at depths from 200 m to more than 1.0 km below surface. Final data interpretation by Quantec is expected shortly. Mira Geosciences of Vancouver B.C. have been contracted to complete a 3D GocadTM model integrating all geological and geophysical data on the property. The Gocad model will be used for drill targeting. Cornerstone is seeking a joint venture partner to advance this project.
Mike Basha, PEng., PGeo., Executive Vice President for Cornerstone, is the Qualified Person for this release, in accordance with National Instrument 43-101.
About Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc. is a mineral exploration company with 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. Through its wholly owned subsidiaries, Cornerstone Resources Inc. and Cornerstone Ecuador S. A., the company operates in Canada and Ecuador. Cornerstone's current and past joint venture partners include Agnico Eagle, Celtic, Cash Minerals, Candente, Coastport, Cogitore, Falconbridge, Inmet, Kermode, Mountain Lake, Moydow, Newmont, Noranda, Phelps Dodge, and Thundermin.
On Behalf of the Board,
Glen H. McKay
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.
Renmark Financial Communications Inc.
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Maurice Dagenais : mdagenais@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
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