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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 Resources is exploring for Volcanic-Associated Uranium and Sediment-Hosted Stratiform Copper (SSC) deposits in northern and southern New Brunswick, respectively.
Cornerstone's recent focus has been on its wholly-owned Chaleur Uranium Property located approximately 60 km west of Bathurst. The 234 km2 property is underlain predominantly by subaerial felsic volcanic rocks with lesser mafic volcanics and minor sediments of the Silurian-aged Chaleur Group, a sequence prospective for hosting volcanic-associated uranium and mesothermal-epithermal gold deposits. To date, Cornerstone has completed a 1,511 line-kilometre fixed-wing airborne magnetic and radiometric survey, geochemical stream sediment sampling and follow-up prospecting. A number of airborne radiometric and uranium-in-stream sediment anomalies have been identified, and up to 427 ppm U has been returned from rock grab samples. The Chaleur property is unaffected by recent regulatory amendments in New Brunswick, which prohibits uranium exploration and mining in certain areas such as designated watersheds and municipalities.
The Goshen Copper Property in southeastern New Brunswick covers Carboniferous-aged sedimentary rocks of the Moncton and Sackville Subbasins. These basins currently produce natural gas, potash and salt -- all indicators of a geological environment favourable for the development of Sediment-Hosted Stratiform Copper (SSC) deposits. Both properties have historic copper resources (non NI 43-101 compliant) and potential exists for discovery of bulk-tonnage copper deposits which are amenable to low-cost acid leaching, with good metal recoveries.
100% Cornerstone:
Chaleur - REE
Goshen - Copper
Goshen
Related News
Primary Target
Copper
Location
The Goshen property consists of 322 claims covering part of the Carboniferous-aged Moncton sedimentary sub-basin. The Basin is a post-tectonic successor basin of the larger Maritimes Carboniferous Basin which extends from Newfoundland southwest through Nova Scotia, Prince Edward Island and New Brunswick.
Property Information
 This geological environment is considered highly permissive for the development of Sediment-hosted Stratiform Copper (SSC) deposits. The permeable zones of fining upward fluvial cycles, along with fault and fracture zones permit groundwater transport of metals through oxidized beds.
The property hosts a historical copper prospect known as the Goshen Prospect. This prospect is reported to contain a resource (non 43-101 compliant) of approximately 25,000 tons grading 2.25% Cu. Mineralization occurs along the Caledonia fault zone; a major north-east trending structure.
Similar geological environments elsewhere in the world, such as the Kupferschiefer in Poland, host world-class SSC-type copper deposits. The Dzhezkazgan Basin of Kazakhstan, a Carboniferous-aged sedimentary basin in a similar geological setting, is known to host up to 400 million tons grading 1.54% Cu.
Chaleur
Primary Target
Rare Earth Elements (REE)
Location
The Chaleur property is located in northern New Brunswick approximately 60 km west of Bathurst and 35 km southeast of Campbellton.
Property Information
The Chaleur property consists of two separate claim groups which collectively comprise 100 map-staked mineral claims: 1) Blue Mountain (60 claims); and 2) Mount Akroyd (40 claims).
The property is underlain by the Siluro-Devonian Chaleurs Group which comprises bimodal felsic and mafic volcanic rocks with minor intercalated sedimentary units. Locally these rocks are intruded by small bodies of Silurian or Devonian granites. In the district, a number of copper-iron skarn prospects are known in the metamorphic aureole of these intrusions. At the Benjamin River project located north of the Blue Mountain claims, Great Western Minerals Group Ltd. (TSXV -- "GWG") ("Great Western Minerals") has identified a number of heavy rare earth element enriched, apatite-diopside-magnetite dykes adjacent to one such intrusion.
In 2010, Great Western Minerals optioned the Chaleur property from Cornerstone and carried out prospecting, reconnaissance geological mapping and mobile metal ion (MMI) soil geochemistry surveys. The MMI surveys identified several areas with highly anomalous REE's. The MMI anomalies are, however, invariably situated along the banks and floodplains of several streams where detailed prospecting and local rock chip sampling failed to locate a source for the anomalies. Consequently, Great Western Minerals terminated the option in May 2011.
Cornerstone continues to feel that the Chaleur property holds potential for hosting REE deposits. During 2011, Great Western Minerals completed a large biogeochemical survey on ground adjacent to the Blue Mountain claims and have reportedly identified a strong biogeochemical REE anomaly that will be drill-tested during the winter of 2011-2012. Although no immediate exploration work is planned on the Chaleur property, Cornerstone is continuing to monitor results on neighbouring projects, including the effectiveness of biogeochemistry surveys in detecting REE mineralization in the region.
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