MOUNT PEARL, NEWFOUNDLAND--(Marketwire - June 17, 2008) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLN:GWN) and 50% joint venture partner Thundermin Resources Inc. announce that the new copper zone that was recently intersected in hole LD-98-07D on the Little Deer copper property assays 2.2% Cu over a core length of 74.0 m, including intervals of 2.6% Cu over 13.0 m; 2.8% Cu over 7.3 m; 2.9% Cu over 10.6 m and 6.5% Cu over 8.6 m. This new zone comprises disseminated, stringer, semi-massive and massive sulphide mineralization containing variable amounts of chalcopyrite, pyrrhotite and pyrite within moderately to intensely altered mafic volcanic rocks. The center of this copper-bearing zone occurs at a vertical depth of approximately 633 m and it is located approximately 50 m north of the high-grade copper horizon that has been the focus of Cornerstone's and Thundermin's drilling program on the property to date (Table 1, News Release dated June 6, 2008).
Table 1: Little Deer Drill Results----------------------------------------------------------------------------Hole No. East North Dip Az From To Interval Cu Co (m) (m) (degrees) (degrees) (m) (m) (m)(1) (%) (%)----------------------------------------------------------------------------LD-98-07D 13596 4541 -70 325 639.4 713.4 74.0 2.2 0.02----------------------------------------------------------------------------incl. 644.6 657.6 13.0 2.6 0.03---------------------------------------------------------------------------- incl. 663.1 670.4 7.3 2.8 na---------------------------------------------------------------------------- incl. 691.4 713.4 22.0 4.0 0.02---------------------------------------------------------------------------- incl. 691.4 702.0 10.6 2.9 na---------------------------------------------------------------------------- incl. 704.8 713.4 8.6 6.5 na----------------------------------------------------------------------------LD-98-07C 13596 4541 -70 325 498.0 501.9 3.9 2.3 0.02---------------------------------------------------------------------------- incl. 498.0 499.2 1.2 6.1 0.05---------------------------------------------------------------------------- 542.5 556.5 14.0 1.9 0.02---------------------------------------------------------------------------- incl. 542.5 549.5 7.0 2.7 0.02----------------------------------------------------------------------------(1) Reported intervals are core lengthsna - assays not yet available
In addition, previously unreported hole LD-98-07C intersected two mineralized zones which occur in chlorite-altered, mafic volcanic rocks. The upper zone assays 2.3% Cu over 3.9 m, including 6.1% Cu over 1.2 m and the lower zone assays 1.9% Cu over 14.0 m, including 2.7 % Cu over 7.0 m. The 14.0 m intersection in hole LD-98-07C occurs approximately 33 m east of the copper intersection in hole LD-98-07, at a vertical depth of approximately 515 m. This intersection correlates with the historical copper-bearing horizon on the property.
Drill hole LD-98-07E, which was designed to test the new copper zone approximately 50 m above the intersection in hole LD-98-07D, was abandoned due to drilling difficulties. Hole LD-07-01 is currently being deepened to intercept the new copper zone approximately 100 m along strike to the southwest.
Cornerstone and Thundermin, the operator, have the option on a 50/50 basis to earn an 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 and June 6, 2008 and on Thundermin's and Cornerstone'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 has reviewed and approved the contents of this release. All 2007 and 2008 drill holes are NQ in size. Specific gravity, 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 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 the above referenced diamond drilling program.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cornerstone Capital Resources Inc.Colin B. McKenziePresident & CEOToll Free: 1-877-277-8377Email: communications@crigold.comWebsite: www.cornerstoneresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
© Marketwire