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Address:
26 Kyle Avenue Mount Pearl, NL Canada A1N 4R5 Telephone: (709) 745-8377 Fax: (709) 747-1183 Toll Free: (877) 277-8377 |
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Cornerstone has a diversified portfolio of early-stage exploration projects in Labrador with potential for hosting deposits of rare earth elements (REE), uranium, nickel and gold. The Letitia Lake REE property is optioned to Rare Earth Metals Inc. which in 2010 completed a new airborne geophysical survey and prospecting as part of a large regional exploration program on their Red Wine project. The Aillik uranium property lies just 3 km south of Aurora Energy's Jacques Lake uranium deposit, and is located on the eastern strike-extension of the structures hosting the Michelin deposit and White Bear Lake and Otter Lake prospects just to the west. Cornerstone also has three nickel projects in Labrador -- Kâuk, Konrad and Okak, which are targeting magmatic nickel-copper deposits similar to those at Voisey's Bay. The Aucoin gold project is targeting high-grade mesothermal-style quartz ± carbonate veins, and is one of only two known gold prospects in all of Labrador. Click on the map below for the location of all properties.
Joint Venture & Optioned Properties: Letitia Lake - REE (Rare Earth Metals)
Okak - Nickel
Maps
Maps
Photos
KâukPrimary Target Nickel Location  This 16.25 km2 property consists of one licence owned 100% by Cornerstone. The property is located 80 km northwest of the Voisey's Bay mine.Property Information The Kâuk property covers a discrete body of troctolite mapped by the Geological Survey of Newfoundland & Labrador. The troctolite body, which has a minimal surface exposure of 1 km2, has not been systematically explored, although parts of it were included in separate properties explored by three junior companies in the rush that immediately followed the discovery of the Voisey's Bay deposits in 1994. As with the Notakwanon project, discrete bodies of troctolitic to olivine gabbroic rocks are considered rare in the region but are recognized to be an essential host rock to Voisey's Bay style mineralization KonradPrimary Target Nickel Location The Konrad property consists of 2 licences covering an area of 116.25 km2 located less than 30 km west of the Voisey's Bay mine. Property Information The area is underlain by a possible extension to the troctolitic host rocks at Inco's Voisey's Bay mine. Upon confirming the area was largely unexplored; the property was joint ventured to Falconbridge Limited from August 2004 to December 2005. During this option period the project was explored by limited geological mapping and prospecting as well as airborne and limited ground geophysical surveys. While results of the geophysical surveys failed to identify conductive targets within favourable troctolitic rocks, geological and geochemical evidence suggest the depth potential of the troctolitic intrusions remain excellent as the bodies are interpreted as representing a feeder dyke complex analogous to Voisey's Bay. These troctolitic rocks, which extend over a strike of more than 19 km, have also been demonstrated to possess geochemical similarities with the troctolitic rocks at Voisey's Bay.Letitia LakePrimary Target Rare Metals and Rare Earth Elements (REE) Increasing global demand for high tech metals coupled with growing supply concerns, particularly for the REE, has resulted in tremendous excitement in this emerging sector. Partner Rare Earth Metals Inc. Location The Letitia Lake property is located in central Labrador, approximately 140 km northeast of Churchill Falls and 170 km northwest of Happy Valley-Goose Bay. Property Information The Letitia Lake property was staked in late 2009 and early 2010, and consists of 155 mineral claims (38.75 km2) in three separate blocks. In February 2010, Cornerstone announced that it had signed an option agreement with Rare Earth Metals Inc. (TSXV-RA) ("Rare Earth") on the Letitia Lake property. Rare Earth will make an initial payment of $10,000 and 20,000 shares and guarantees minimum first year expenditures of $50,000, sufficient to maintain the property in good standing. Thereafter, Rare Earth may elect to make further payments of cash and shares totaling $30,000 and 60,000, respectively over the first two years of the option and incur additional exploration expenditures totaling $300,000 over three years in order to earn a 51% interest in the claims. The parties will then form a joint venture to further explore and develop mineral resources on the property. Rare Earth will operate the exploration programs during the option period in consultation with Cornerstone. The Letitia Lake claims cover rare metals (Be, Nb, Zr, Hf, Ta) and REE regional till geochemical anomalies in areas underlain by Middle Mesoproterozoic peralkaline volcanic and intrusive rocks of the Letitia Lake Group and Red Wine Intrusive Suite, respectively. During the 1950's and 1960's, exploration in the Letitia Lake area led to discovery of several Be - Nb ± REE showings including the Mann #1 and Mann #2, Michelin #1 and Two Tom Lake prospects. Recent sampling by Rare Earth has returned assay results up to 4.99% total rare earth oxides (TREO), 0.97% BeO and 2.35% Nb2O5 at the Mann #1 prospect and 3.24% TREO, 0.93% BeO and 4.19% Nb2O5 from the Two Tom Lake prospect (see East Energy Corp. news release dated November 06, 2009). While the historic prospects are not located within Cornerstone's claims, the aforementioned till anomalies are considered to be un-sourced and of local derivation. Rare Earth recently announced its 2010 exploration plans which will include an initial airborne magnetic and radiometric survey, followed by prospecting and geological mapping, and geochemical surveys in order to evaluate this highly prospective peralkaline belt. Related News 10-03 - Cornerstone options Labrador rare metals and REE properties Geology Map (PDF)
Beryllium Till MapNiobium Till MapLutetium Till MapOkakPrimary Target Nickel Location The Okak property consists of 1 licences, covering 18 km2 located 100 km north of the Voisey's Bay mine. Property Information The property covers several showings of Ni-bearing magmatic sulphides hosted by anorthosite and pyroxenites, with the sulphides interpreted to be potentially related to an unexplored and previously unrecognized pyroxenite intrusive body that occurs less than a kilometre northwest of the main showings. Results from drilling completed by previous explorers include assays up to 1.98% Ni, 1.03% Cu, 0.16% Co over 2.28 m including 2.03% Ni, 1.05% Cu and 0.17% Co over 0.57 m from an intersection of semi-massive to massive sulphides at a vertical depth of less than 20 m below surface. Mineralization of this type was intersected by the previous workers at shallow depths over an area measuring more than 500 m by 2 km. Both the depth and strike potential of the mineralization are considered excellent. Cornerstone currently controls 100% of the Okak property and is actively seeking to joint venture the project to further its exploration program. |
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