Re: News - Thursday, August 27, 2009
09-18 - Cornerstone and Thundermin intersect additional copper
and zinc mineralization at Little Deer
Mount Pearl, NL, Canada: Cornerstone Capital Resources Inc.
(TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) and Thundermin Resources Inc.
("Thundermin") (THR:TSX) announce that they have intersected additional
copper mineralization along with a new zone of zinc mineralization at
the Little Deer copper project in north-central Newfoundland.
The partners completed a $900,000 diamond drilling program comprising
7,156 m of drilling in nine holes at the end of July, 2009. Assay
results for the final four holes of the program are presented in Table
1 and shown on Figure 1 -
Table 1: Little Deer Drill Results (2009)
Hole No. East (m) North (m) Dip (o) Az (o) From (m) To (m) Interval (m)* Cu (%) Zn (%)
LD-09-23 13,142 4,640 -70.7 315.2 803.3 807.0 3.7 2.4 -
LD-09-24 13,001 4,667 -72.2 336.2 751.7 755.9 4.2 2.6 -
LD-09-25 13,494 4,532 -71.8 326.0 703.9 713.4 9.5 - 1.8
811.5 821.0 9.5 1.6 -
LD-09-25A 13,494 4,532 -71.8 326.0 612.4 619.4 7.0 - 0.8
and 654.5 656.9 2.4 2.2 -
and 753.2 754.7 1.5 5.0 -
786.4 790.3 3.9 3.3 -
* - Reported intervals are core lengths -- true widths are yet to be
A - Wedge hole
On July 7, 2009, Cornerstone and Thundermin announced a National
Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for
the Little Deer Copper Deposit ("Deposit") prepared by Micon
International Limited ("Micon") under the supervision of Qualified
Person Mr. Reno Pressacco, M.Sc.(A), P.Geo. Micon estimated that the
Deposit contains 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. To date, the Deposit has been outlined over a
strike length of approximately 1,050 m and to a vertical depth of
approximately 895 m. The Deposit remains open to the east, west and at
depth. Micon concluded in the supporting NI43-101 Technical Report
that potential exists for the discovery of mineralization on strike
with and below the Deposit as well as up-dip from the western part of
Holes LD-09-23, 25 and 25A intersected additional copper mineralization
which lies outside of the mineral resource block defined by Micon.
Therefore, these new intersections would be expected to increase the
overall tonnage for the Deposit. In addition, holes LD-09-25 and
LD-09-25A intersected a new zone of zinc mineralization, consisting of
disseminated to stringer sphalerite within mafic volcanic rocks, that
is interpreted to occur stratigraphically above the copper
mineralization intersected to date. The best zinc zone assayed 1.8% Zn
over 9.5 m from 703.9 to 713.4 within hole LD-09-25. The geological and
economic significance of this zinc zone is not known at the present
time as no other holes have been drilled in this area.
Hole LD-09-24, an infill hole in the western portion of the Deposit,
intersected 2.6% Cu over a core length of 4.2 m. This intersection is
approximately 50 m below the intersection in hole LD-09-22, that
assayed 3.8% Cu over 9.1 m, and 75 m above and to the west of the
intersection in hole LD-09-23 (see Table 1).
It is anticipated that a new diamond drilling program will commence on
the Deposit in September 2009. This program will be primarily designed
to expand on the mineral resources announced to date. The details and
magnitude of this program will be announced once it has been agreed
upon by the joint venture partners.
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,
July 25, November 26, 2008 and February 25, May 12, June 16, July 7,
July 16, and August 20, 2009 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 Q.P. that is responsible for
supervising the drilling program on the property for the purposes of NI
43-101. Mr. Hussey is also the Q.P. that has reviewed and approved the
contents of this release. All holes drilled by Cornerstone and
Thundermin 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.
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.
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
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www.cornerstoneresources.com; via e-mail at firstname.lastname@example.org;
or toll free at 1-877-277-8377.
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Message sent on Thu Aug 27, 2009 at 5:30:00 AM Pacific Time