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Cornerstone and Thundermin Intersect 4.1% Copper Over 10.6 m and 4.5% Copper Over 5.9 m in the Little Deer Copper Deposit, Newfoundland
Published : March 22, 2011
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MOUNT PEARL, NEWFOUNDLAND--(Marketwire - March 22, 2011) - Cornerstone Capital Resources Inc. ("Cornerstone") (News - Market indicators) (FRANKFURT:GWN) (BERLIN:GWN) (PINK SHEETS:CTNXF) and 50% joint venture partner Thundermin Resources Inc. ("Thundermin") (TSX-THR) announce that they have intersected high grade copper mineralization assaying 4.1% Cu over 10.6 m, including 6.7% Cu over 5.8 m, and 4.5% Cu over 5.9 m within the Little Deer Copper Deposit ("Deposit") which is located approximately 10 km north of Springdale in north-central Newfoundland (see Table 1 and Figure 1 – http://www.cornerstoneresources.com/i/pdf/properties_LD_11-13Section.pdf).

Table 1: Little Deer Drill Results (2010/2011)

Hole No. East
(m
) North
(m
) Dip
) Az
) From
(m
) To
(m
) Interval
(m)(2
) Cu
(
%)
LD-10-39 (1) 14,057   4,459   -37.1   321.6   208.6   209.1   0.5   13.4  
and                 213.9   218.1   4.2   4.6  
and                 233.9   250.4   16.5   5.0  
incl.                 233.9   239.0   5.1   6.1  
incl.                 244.9   250.4   5.5   9.2  
                                 
LD-10-40 (1) 14,057   4,459   -35.8   315.0   294.5   295.2   0.7   2.4  
                                 
LD-10-41 14,057   4,459   -36.1   335.1   202.6   203.0   0.4   5.1  
and                 219.2   222.2   3.0   2.1  
and                 229.7   235.6   5.9   4.5  
                                 
LD-11-42 14,057   4,459   -63.0   305.5   306.8   308.0   1.2   1.0  
                                 
LD-11-43 13,536   4,545   -56.5   331.3   nsv  
                                 
LD-11-44 13,943   4,337   -48.1   318.8   413.8   415.4   1.6   9.3  
and                 469.3   479.9   10.6   4.1  
incl.                 469.3   475.1   5.8   6.7  
                                 
LD-11-45 13,536   4,545   -66.2   337.7   472.9   473.9   1.0   4.0  
and                 488.8   494.2   5.4   1.4  
                                 
LD-11-46 13,536   4,545   -60.8   338.7   nsv  
                                 
LD-11-47 13,943   4,337   -54.0   323.2   nsv  
                                 
LD-11-48 13,536   4,545   -54.5   351.5   366.2   367.2   1.0   1.4  
Notes:  
(1) Holes LD-10-39 and LD-10-40 were previously reported in a News Release dated January 20, 2011.
(2) The reported copper intersections are core lengths. The intersections in holes LD-10-39, LD-10-40 and LD-10-41 approach true thickness. The intersections in the remaining holes are estimated to be from 70% to 80% of true thickness.
nsv No significant values.

A $1,600,000 diamond drilling program, comprising approximately 12,000 to 13,000 m of drilling in 18 to 20 holes and employing two drills, commenced on the Deposit on December 1, 2010. A total of 6,372 m of drilling in 13 holes has been completed to date. The primary purpose of this drill program is to increase the estimated mineral resources outlined to date in the Deposit to the five to six million tonne range. The potential increase of the current mineral resources is conceptual in nature and it is uncertain whether further exploration drilling will result in an expansion of this mineral resource.

The current drill program is focusing on three main areas: 1) above the -250 m elevation where the recent recovery of drill logs and assay data for 47 surface and 86 underground historical drill holes suggests that there is good potential for outlining additional high grade resources (see news release dated January 20, 2011); 2) along strike both east and west of the limits of the currently outlined mineral resource; and 3) at depth below the -650 m elevation where a preliminary interpretation of the results from borehole Pulse electromagnetic surveys suggest that there is potential for the discovery of additional copper mineralization.

The Deposit has been outlined by drilling over a strike length of 1,050 m and to a vertical depth of 1,000 m. Note that Figure 1 presented here shows only the upper eastern portion of the Deposit (see the longitudinal section accompanying the news release dated July 29, 2010 for a view of the complete Deposit). Additional details on the Deposit can be found in numerous Cornerstone and Thundermin news releases dated between May 1, 2007 and January 20, 2011 which are on each company's website and on SEDAR.

Holes LD-10-39, LD-10-40 (both previously reported) and LD-10-41 collectively totaling 966 m were completed in December prior to the seasonal shutdown (see Figure 1 and Table 1). These holes were drilled to confirm the presence of high grade copper mineralization believed to exist in the upper portion of the Deposit based on a review of the historical data referenced above. Hole LD-10-39, which intersected high grade massive, semi-massive and stringer chalcopyrite-pyrite-pyrrhotite mineralization was drilled to confirm the copper mineralization in historical surface hole LD-62-78 which intersected 2.9% Cu over 60.1 m, including intervals of 5.9% Cu over 7.9 m, 5.3% Cu over 15.5 m and 3.1% Cu over 11.6 m. Hole LD-10-40, which was drilled approximately 35 m west of LD-10-39, intersected minor copper mineralization comprising 2.4% Cu over 0.7 m. Hole LD-10-41 was drilled approximately 50 m east of hole LD-10-39 to confirm the copper mineralization in historical surface hole LD-62-83 which intersected 3.1% Cu over 13.7 m. Hole LD-10-41 intersected 2.1% Cu over 3.0 m and 4.5% Cu over 5.9 m. Three additional shallow holes are planned to the west in this area of the Deposit. These holes will be drilled on approximately 100 m centers to target the -100 m elevation (see Figure 1).

Hole LD-11-45, drilled on the upper western margin of the Deposit, intersected 1.4% Cu over a core length of 5.4 m and hole LD-11-48 intersected 1.4% Cu over 1.0 m. Holes LD-11-43 and LD-11-46, also on the upper western margin of the Deposit, intersected intervals of chlorite alteration with no significant copper mineralization. Hole LD-11-44, drilled on the upper eastern margin of the Deposit intersected high grade copper mineralization assaying 9.3% Cu over 1.6 m and 4.1% Cu over 10.6 m, including 6.7 % Cu over 5.8 m. Holes LD-11-42 and LD-11-47, also on the upper eastern margin of the Deposit, intersected thick sections of chlorite alteration with no significant copper mineralization. Holes LD-11-49, LD-11-50 and LD-11-51 have been completed. Assay results are awaited and will be reported when received.

Mineral Resource Estimate

On October 13, 2010, Cornerstone and Thundermin announced that an updated NI 43-101 compliant mineral resource estimate had been completed by Scott Wilson RPA under the supervision of Mr. Reno Pressacco, M.Sc. (A), P.Geo., Senior Geologist for Scott Wilson RPA and an independent Q.P. in accordance with NI 43-101. Scott Wilson RPA estimated that the Deposit contains Indicated Resources of 1,150,500 t at an average grade of 2.8% Cu within the Little Deer Zone and additional Inferred Resources of 1,227,300 t at an average grade of 2.2% Cu within the Little Deer Zone and 1,108,200 t at an average grade of 1.9% Cu within the Footwall Zone. A NI 43-101 compliant Letter Report entitled "Mineral Resource Update for the Little Deer Project" dated September 30, 2010, to support the updated mineral resource estimate, is available on Cornerstone's and Thundermin's websites.

Metallurgy

On October 19, 2010, excellent metallurgical results from scoping level test work on core samples from the Deposit were announced. This work, which was undertaken at SGS Lakefield Research Limited ("Lakefield") of Lakefield, Ontario, indicates that a saleable, high grade copper concentrate grading over 28% copper with over 97% recovery and free of any deleterious elements can be produced from the Deposit.

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 and the compilation of all of the historical data on the Deposit 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.

Little Deer Joint Venture

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 Deposit and the terms of the agreement with Weyburn can be found in numerous news releases and on Cornerstone's and Thundermin's respective websites and on SEDAR.

Junior Exploration Assistance Program

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 and Labrador, Canada, with a diversified portfolio of projects in Canada, Ecuador and Chile, 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. The company is well funded and commitments from JV partners constitute significant validation of the strength of Cornerstone's projects. 

Further information is available on Cornerstone's website: www.cornerstoneresources.com

Investors can access and join the following Cornerstone social media channels:

Facebook (http://www.facebook.com/cornerstoneresourcesinc)

Twitter (http://twitter.com/Cornerstone_cgp)

YouTube channel (http://www.youtube.com/user/CornerstoneResource)

Flickr (http://www.flickr.com/photos/cornerstoneresources)

The link to a recent CEO video interview is: http://www.cornerstoneresources.com/i/media/SHCornerstone.asx

The link to recent CEO audio interviews is: http://www.cornerstoneresources.com/s/Interviews.asp

The link to a recent Corporate presentation with narration is: http://rblcommunications.com/webcasts/Cornerstone/CGPmarch2011/CGPmarch2011.html

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,

H. Brooke Macdonald, President

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.

Cornerstone Capital Resources Inc.
Martti Kangas
Investor Relations
Direct Line: 1 (647) 521-9261
North America toll-free: 1 (877) 277-8377
or
Cornerstone Capital Resources Inc.
Paul Benwell / Pat Kairns
Investor Relations
Direct Line: 1 (514) 904-1333
or
Cornerstone Capital Resources Inc.
Toll Free: 1-877-277-8377
communications@crigold.com
www.cornerstoneresources.com
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Cornerstone Capital Resources Inc

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CODE : CGP.V
ISIN : CA21922J2083
CUSIP : 21922J208
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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 1,2 milliards CA$ (934,1 millions US$, 818,3 millions €).

La valeur de son action a atteint son plus bas niveau récent le 04 mars 2016 à 0,02 CA$, et son plus haut niveau récent le 18 septembre 2020 à 6,53 CA$.

Cornerstone possède 299 560 000 actions en circulation.

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