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Labrador |
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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's recent focus in Labrador has been on its Labrador Trough property located in western Labrador, a 50-50 joint venture with Altius Resources Inc. This large 625 km2 property covers an extensive belt of Proterozoic sedimentary and volcanic rocks which is prospective for hosting Sediment-Hosted Stratiform Copper (SSC) and Unconformity-Associated and Sediment-Hosted Uranium deposits. Mineral deposit models akin to those of the prolific Proterozoic McArthur River -- Mount Isa -- Cloncurry districts of northern Australia are considered valid for the Labrador Trough. Cornerstone and Altius are continuing to seek a senior company JV partner to advance exploration on this large, under-explored property. In addition to its Labrador Trough joint venture property, Cornerstone has several wholly-owned properties elsewhere in Labrador which are targeting nickel, uranium, rare earth elements (REE) and rare metals, and gold. Click on the map below for the location of all properties.
Joint Venture & Optioned Properties: Labrador Trough - Copper/Uranium (Altius) Letitia Lake - REE (Rare Earth Metals)
Voisey's Bay - Nickel
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GarlandPrimary Target Nickel Location  The 52.5 km2 Garland property is located approximately 30 km south of Voisey's Bay. It consists of three licences covering the on-strike extensions of a series of AMT anomalies detected by an Inco Audio-magnetotelluric (AMT) survey completed in 2000. It is 100% owned by Cornerstone.Property Information In 2000, Inco completed AMT surveys over the area including areas covered by the current Cornerstone property. This work identified anomalies defined as a series of zones of higher conductivity interpreted to lie at a depths greater than 800 m. Reports filed by Inco with the Government of Newfoundland & Labrador in 2001 indicate areas surrounding the AMT anomalies are locally underlain by troctolitic rocks considered favourable for hosting Voisey's Bay style Ni sulphide mineralization. Cornesrtone acquired the current property in 2005 in
The AGG survey was undertaken to detect high density zones (gravity highs) reflective of underlying troctolitic rocks similar to those which host the nearby Voisey's Bay deposit. Results for the survey have identified a series of gravity anomalies potentially associated with buried troctolitic rocks, including an east-west elongated gravity high measuring 1.5 km x 2.5 km on the northern claim block; and a 3 km x 2 km anomaly on the southern claim block, straddling the joint venture's southern boundary with Inco claims. Click here to view the AMT map and here for Gravity section. Magnetotelluric (MT) geophysical surveys over the two gravity anomalies were completed in early July. )
) 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.Labrador TroughPrimary TargetCopper (Uranium) Location The Labrador Trough property is located in western Labrador, approximately 175 km north-northeast of Labrador City and 50 km northeast of Schefferville, Québec. Property Information In June, 2008, Cornerstone Resources Inc. ("Cornerstone") and Altius Resources Inc. ("Altius") signed a 50-50 alliance agreement to explore primarily for sediment-hosted copper and uranium within the Labrador Trough of western Labrador. The Labrador Trough property consists of 16 mineral licences comprising 2,507 map-staked claims (626.75 km2). The Labrador Trough forms a 1,600 km long by 160 km wide belt of Paleoproterozoic (2,300 -- 1,800 Ma) sedimentary and volcanic rocks that extends southwards from Ungava Bay through eastern Quebec and western Labrador. Although best known for its world-class iron deposits, the Labrador Trough is also prospective for hosting a variety of base metal and uranium deposit types: 1) Sediment-Hosted Stratiform Copper (SSC); 2) Unconformity-Associated and Sediment-Hosted Uranium; 3) Iron Oxide Copper Gold (IOCG); 4) Besshi-Type Massive (Copper-Zinc) Sulphides; and 5) Magmatic Nickel-Copper Sulphides (± PGE). Mineral deposit models akin to those of the prolific Proterozoic McArthur River -- Mount Isa -- Cloncurry districts of northern Australia are considered valid for the Labrador Trough. Exploration work carried out by Cornerstone and Altius thus far includes property-wide: 1) Digital compilation of historical exploration and government geoscientific data; 2) High-resolution (1m colour) IKONOS satellite imagery 3) Fixed-wing airborne magnetic-radiometric survey; and 4) Helicopter-supported prospecting and rock sampling program. These surveys provide a solid base for future exploration. Moreover, historic copper showings and prospects such as Martin Lake North, Montgomery Lake and Snelgrove Lake have received only cursory exploration. Despite its excellent mineral potential, the Labrador Trough remains an under-explored frontier area. Cornerstone and Altius are continuing to seek a senior company JV partner to advance exploration on this large, under-explored property. Maps
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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.Voisey's BayPrimary Target Nickel Location The Voisey's Bay property consists of 116 claims (29 km2) located in Northern Labrador. Property Information The Voisey's Bay property, covers an area where prospective extensions to the same troctolite intrusion which hosts the Voisey's Bay deposits (cumulative resources including proven probable and inferred of 77.6 million tonnes averaging 2.28% Ni, 1.19 Cu, and 0.13% Co; page 12, Inco 2005 Annual Report) may occur at shallow depths. The property is located less than 10 km south of the most southerly surface exposures of the Voisey's Bay troctolite. At Voisey's Bay, the troctolite is known to be largely covered by thin sheets of granite and other plutonic rocks that may also cover extensions of the troctolite to the south. The exploration potential of this area was highlighted in August 2005, when Inco staked in excess of 1,700 km2 in this area, including claims bordering Cornerstone's Voisey's Bay claims.
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