Who needs Copper any more or Nickel or Gold? OK Ecuador could be too gross even for a Gold for a while in our County risk metrics, but "6.0% Cu over a core length of 3.8 m in hole LD-09-20 on the Little Deer Copper Deposit ( the "Deposit") within a wider mineralized interval that grades 2.5% Cu over 12.0 m. In addition, hole LD-09-21 intersected 2.1% Cu over a core length of 6.3 m" reminds us Tenke Fungurume grades in Congo, when you add last year "hole LD-08-15 that graded 2.7% Cu over 46.6 m".
"Cornerstone and Thundermin Continue to Intersect High Grade Copper Mineralization at Little Deer.On Tuesday May 12, 2009, 8:00 am EDT
MOUNT PEARL, NEWFOUNDLAND AND LABRADOR--(Marketwire - May 12, 2009) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; PINK SHEETS:CTNXF - News; FRANKFURT:GWN - News; BERLIN:GWN - News) and 50% joint venture partner Thundermin Resources Inc. ("Thundermin") announce that they have intersected 6.0% Cu over a core length of 3.8 m in hole LD-09-20 on the Little Deer Copper Deposit ( the "Deposit") within a wider mineralized interval that grades 2.5% Cu over 12.0 m. In addition, hole LD-09-21 intersected 2.1% Cu over a core length of 6.3 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 800 m. The Deposit remains open to the east, west and at depth.
Table.
The current diamond drilling program is part of a $Cdn 900,000 exploration program consisting of approximately 5,800 m of drilling and borehole Pulse EM surveys that was announced on February 25, 2009 for the first half of 2009. Approximately 3,000 m of drilling in four holes have been completed to date. The current drill program is on-going and is expected to be finished near the end of June. Micon International Limited ("Micon") has been retained to prepare a National Instrument 43-101 compliant mineral resource estimate for the Deposit based on all drill hole data available as at approximately May 15, 2009. 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-09-20 occurs 678 m below surface and is the deepest intersection drilled to date in this area of the Deposit. This intersection, which consists of disseminated, stringer, semi-massive and massive sulphides containing variable amounts of chalcopyrite, pyrrhotite and pyrite within strongly altered mafic volcanic rocks, occurs approximately 40 m east of and 65 m below the intersection in hole LD-08-15 that graded 2.7% Cu over 46.6 m.
Hole LD-09-21 intersected chalcopyrite mineralization at a vertical depth of approximately 700 m that grades 2.1% Cu over 6.3 m. This intersection occurs 30 m west and 132 m below hole LD-00-12 that graded 3.8% Cu over 10.7 m (Figure 1).
Hole LD-09-19 was collared to intersect the westward projection of the Little Deer copper-bearing zone at a vertical depth of approximately 400 m and approximately 175 m below historical hole LD-66-122 that graded 1.6% Cu over 2.6 m (Figure 1). This hole intersected the copper-bearing zone but returned no significant values.
Hole LD-09-22 is currently drilling and has been collared to intersect the main copper-bearing zone approximately 100 m east of the intersection in hole LD-08-10A that graded 2.2% Cu over 16.8 m, including 3.9% Cu over 5.9 m.
Hole LD-09-18 was collared to intersect a geophysical conductor that was outlined by a VTEM survey flown over a portion of the Little Deer property in July 2008. This conductor, which may coincide with a separate mineralized zone, occurs approximately 200 m southeast of the main Deposit. Hole LD-09-18 intersected the geophysical target at a vertical depth of approximately 390 m and intersected moderately to intensely altered mafic volcanics containing less than 2% disseminated pyrite and local trace chalcopyrite. A borehole Pulse electromagnetic survey will be conducted on this hole in the future to determine if there is any significant sulphide mineralization near the hole that was missed by the drilling.
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, 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 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."
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