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Re: News - Tuesday, June 16, 2009
09-13 - Cornerstone and Thundermin intersect 3.8% Cu over 9.1
metres on the Little Deer Deposit
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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 3.8% Cu over a core length of 9.1 m in hole LD-09-22
on the Little Deer Copper Deposit ( the "Deposit"). In addition, wedge
hole LD-08-16A intersected variable amounts of copper mineralization
over a core length of 99 m within strongly altered mafic volcanic in
the western portion of the Deposit. The best intervals within this
zone include 1.9% Cu over a core length of 15.8 m, including 2.9% Cu
over 5.7 m, 1.5% Cu over 23.3 m, including 3.1% Cu over 6.2 m and 1.2%
Cu over 9.4 m (Table 1 and Figure 1 -
http://www.cornerstoneresources.com/i/maps/properties_nfld_littledeerlongsec.jpg). To date, the copper mineralization in the Little Deer
Deposit has been intersected 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.
Table 1: Little Deer Drill Results (2009)
Hole No.* East (m) North (m) Dip (o) Az (o) From (m) To (m) Interval (m)* Cu (%)
LD-09-22 13,001 4,668 -70.6 334.9 697.1 706.2 9.1 3.8
incl. 698.7 700.3 1.6 13.9
LD-08-16A 12,979 4,650 -72.9 319.5 881.9 891.3 9.4 1.2
and 922.9 946.2 23.3 1.5
incl. 940.0 946.2 6.2 3.1
and 961.3 977.1 15.8 1.9
incl. 971.4 977.1 5.7 2.9
LD-09-23 13,141 4,640 -70.7 315.2 Hole currently drilling
* Reported intervals are core lengths -- true widths are yet to be
determined.
The current diamond drilling program is part of a $Cdn 900,000
exploration program consisting of approximately 5,800 m of drilling
that was announced on February 25, 2009 for the first half of 2009.
Approximately 4,160 m of drilling in six holes have been completed to
date. The current drill program is on-going and is expected to be
finished near the end of June. As announced on May 12, 2009, Micon
International Limited ("Micon") is preparing a National Instrument
43-101 compliant mineral resource estimate for the Deposit based on all
drill hole data available up to and including wedge hole LD-08-16A. It
is anticipated that Micon will complete this resource estimate early in
the third quarter of 2009.
The copper-rich sulphide intersection in hole LD-09-22 which occurs in
the western portion of the Deposit at a vertical depth of approximately
625 m, consists of disseminated, stringer, semi-massive and massive
sulphides containing variable amounts of chalcopyrite, pyrrhotite and
pyrite within strongly altered mafic volcanic rocks. This intersection
occurs approximately 110 m east and 90 m above the intersection in hole
LD-08-10A that graded 2.2% Cu over 16.8 m, including 3.9% Cu over 5.9 m
(Figure 1).
Hole LD-08-16A intersected variable amounts of chalcopyrite, pyrrhotite
and pyrite within a 99 m wide zone of strongly altered mafic volcanic
rocks (Table 1 and Figure 1). The intensity and magnitude of chlorite
alteration and the amount of copper mineralization appears to increase
at depth in this area of the Deposit. The lower portion of the
intersection in LD-08-16A occurs at a vertical depth of approximately
895 m and is the deepest intersection to date within the Deposit.
Hole LD-09-23, which is currently drilling, is collared to intersect
the main copper-bearing zone approximately 175 m east of the intercept
in LD-08-10A at a vertical depth of approximately 725 m (Figure 1).
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, February 25, 2009 and May 12, 2009 posted
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 holes
drilled by Thundermin and Cornerstone 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.
Thundermin and Cornerstone 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.
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.
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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 Tue Jun 16, 2009 at 5:15:00 AM Pacific Time
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