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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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Aucoin
Primary Target
Gold
Location
The Aucoin property is located in east-central Labrador, approximately 70 km west of the small coastal community of Hopedale and 235 km north-northwest of Happy Valley-Goose Bay.
Property Information
The Aucoin property comprises 14 mineral claims (3.5 km2), and is targeting mesothermal-style gold in quartz ± carbonate veins. The property is underlain predominantly by Archean granitic gneisses of the Nain Province which are intruded by Lower Proterozoic mafic dykes. A north-south trending zone of anomalous gold in outcrop and soil samples has been traced for 800 m along strike, and remains largely untested.
The Aucoin showing was discovered in 1995 by Ascot Resources Ltd. ("Ascot"). During 1995 and 1996, Ascot completed line cutting, geological mapping and prospecting, soil geochemistry, magnetometer and VLF-EM surveys and diamond drilling (8 short holes totalling 461.7 m). Seven of eight holes intersected gold mineralization, with a best intersection of 4.55 g/t Au over 5.0 m returned from hole AR96-02 within a broader zone that averaged 1.82 g/t over 16.1 m. Drill testing was limited to shallow depths (<= 50 m vertical) along only 100 m of strike length.
Since acquiring the Aucoin property in 2003, Cornerstone has carried out a digital compilation, lake sediment geochemical survey, geological mapping and prospecting, hand trenching and rock sampling. At the Aucoin showing, grab samples containing coarse visible gold have returned high grade gold values up to 477.5 g/t Au, and grab samples at the Turpin showing located 600 m to the south have returned up to 3.09 g/t Au. This latter quartz vein has a minimum width of 8 m, although large portions of the exposed vein appear to be substantially barren. Multiple rock grab samples between the Aucoin and Turpin showings have returned gold values in excess of 1 g/t Au (up to 6.55 g/t Au), indicating an auriferous zone with significant strike length. An approximately 1,000 metre diamond drilling program is proposed to test priority targets.
Cornerstone owns a 100% interest in the Aucoin property subject to a 2% NSR, half of which may be purchased at any time for $1 million, and is currently seeking a joint venture partner to advance the project.
Maps
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| Aucoin Regional Geology |
Aucoin Compilation Map |
Photos
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Aucoin Showing -
Coarse Visible Gold |
Aucoin Showing -
Tension Quartz Vein |
Base Metals + Gold-
Bearing Quartz Vein |
Turpin Showing -
Hand Trenching |
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