Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc.

Properties

Newfoundland

Cornerstone Capital Resources Inc.
Cornerstone Capital Resources Inc. Cornerstone Capital Resources Inc.
Address:
26 Kyle Avenue
Mount Pearl, NL
Canada A1N 4R5

Telephone:
(709) 745-8377

Fax:
(709) 747-1183

Toll Free:
(877) 277-8377


Cornerstone Capital Resources Inc. Cornerstone Capital Resources Inc. Cornerstone Capital Resources Inc.
Cornerstone Resources is exploring for gold, volcanogenic massive sulphide (VMS) copper and zinc, and Sediment-Hosted Stratiform Copper (SSC) deposits on the island of Newfoundland. Cornerstone's current focus on the island is its Little Deer Copper Property, a 50/50 joint venture with Thundermin Resources Inc. Up to the end of 2009, over 25,000 m of diamond drilling had been completed, and in July 2009 results of a National Instrument 43-101 compliant mineral resource estimate were announced. The Little Deer Deposit contains estimated Indicated Resources of 1,087,000 tonnes at an average grade of 2.9% Cu and an Inferred Resource of 1,950,000 tonnes at an average grade of 2.3% Cu. Exploration programs designed to expand the mineral resources and advance the project towards a scoping study are ongoing.

In April 2010, Cornerstone optioned its Red Cliff and Deer Harbour SSC properties located in eastern Newfoundland to Vale Exploration Canada Inc. ("VEC"). VEC is the project operator and will be carrying out exploration programs designed to evaluate the potential of priority copper prospects and showings.

In addition to the aforementioned joint venture and optioned properties, Cornerstone has 8 wholly owned gold and VMS base metal properties elsewhere on the island. Following with its business model, Cornerstone is actively seeking partners to advance these prospective projects.

Click the map below for the location of all properties.

Click for enlarged image of all properties Joint Venture or Optioned Properties:

Little Deer - Copper (Thundermin)

Red Cliff - SSC (VEC)

Deer Harbour - SSC (VEC)


Available for Option
100% Cornerstone Properties:

Gold:
Cape Ray
Colchester
El Strato
True Grit

VMS:
Bobby's Pond - VMS
Long Lake
Noel Paul's Brook
Click for enlarged image of all properties 100% Cornerstone Properties:

Gold:
Burin
Cape Ray
Colchester
El Strato
Island Pond
Long Harbour
Paul's Pond
True Grit

Copper:
Princess Group
Red Cliff

VMS:
Long Lake - VMS
Noel Paul's Brook
Victoria

Potash:
Codroy

Uranium:
Deer Lake


Joint Venture Properties

Bobby's Pond

Related News
07-15 - Cornerstone announces 4.7% Zinc intercept in drilling by Mountain Lake Resources

Primary Target
VMS (Base Metals)

Location
Bobby's Pond consists of 62 claims (15.5 km2) partially surrounding Mountain Lake Resources Bobby's Pond deposit, located 20 km west of Teck's Duck Pond mine. The property is under option to Mountain Lake.

Property Information
The Bobby's Pond VMS deposit is reported to contain indicated resources of 860,000 tonnes of 0.93% Cu, 0.53% Pb, 6.30% Zn, 20.0 g/t Ag and 0.24 g/t Au and inferred resources of 480,000 tonnes of 1.07% Cu, 0.38% Pb, 6.36% Zn, 15.0 g/t Ag and 0.18 g/t Au (Mountain Lake Resources, February 7, 2007 news release; NI 43-101 compliant). Cornerstone's claims cover the potential northeast and southwest strike projections of the deposit's host geology. The property covers occurrences of VMS-style alteration and anomalous base metal sulphide mineralization. Initial work on the property, by Cornerstone, consisted of a detailed compilation of historical exploration work conducted over the property.


Cape Ray Gold

Related News
Cornerstone Provides Update on Joint Ventures in Newfoundland & Labrador

2006 Drilling Map

Primary Target
Gold

Location
Located approximately 75 km west of the Hope Brook gold mine on Newfoundland's southwest coast, the Cape Ray Gold property is comprised of 2 licences, covering an area of 107.25 km2.

Property Information
The Cape Ray Gold property is divided into two advanced prospects: The Windowglass Hill prospect, and the 51 Zone deposit. The Windowglass Hill prospect comprises gold-bearing, base metal sulphide-rich quartz veins within the Windowglass Hill granite. During the 2004 drill program, this prospect returned assays of 13.7 g/t of gold over 5.8 m, as well as 7.5 g/t of gold and 49 g/t of silver over 5.15 m. The 51 Zone prospect is a fault-fill
Click for a Photo Gallery for this Project
Photo Gallery
quartz breccia vein system in graphite and chlorite schists, and is one of three vein arrays within the historically documented Cape Ray deposit (the others are the 4 and 41 Zones on property adjacent to Cornerstone's claims). During the 2004 work program, this prospect returned assay values of 13.1 g/t of gold over 6.1 m and 5.3 g/t of gold over 10.2 m.

Click here for detailed information on the 2004 work program.

Cornerstone with former joint venture partner Thundermin Resources Inc. completed a 1060 m drill program on the Windowglass Hill prospect on June 25, 2006.


Colchester

Primary Target
Gold and Copper

Location
The Colchester property consists of 181 claims encompassing an area of 45.25 km2.

Property Information
Field programs have, to date, comprised geological mapping, prospecting and diamond drilling. A 7-hole, 1400 m diamond drill program was completed on the main Colchester Zone and adjacent sulphide targets. The drilling primarily targeted high-grade Au-rich massive sulphides, in follow-up to previously reported high-grade intersections. Highlights of the 2004 drill program include 5.6 m grading 2.97% Cu and 0.5 g/t Au, and 8.9 m grading 1.22% Cu. All drill holes intersected strong to intense chlorite and/or silica alteration, and stockwork stringer pyrite-chalcopyrite-pyrrhotite (+/- sphalerite) mineralization that returned anomalous copper, zinc and gold values. A deep-EM/magnetometer airborne survey was completed in October 2004 and was followed up by prospecting of magnetic anomalies in 2005. Cornerstone Resources currently controls 100% of the property and is actively seeking a joint venture partner to further its exploration program.


Deer Harbour

Primary Target
Sediment-Hosted Stratiform Copper (SSC)

Location
The Deer Harbour property is located on the east coast of Newfoundland on the western shore of Trinity Bay, approximately 200 road km west of St. John's.

Project Operator
Vale Exploration Canada Inc.

Property Information
The Deer Harbour property was staked by Cornerstone in January 2010, and currently consists of 90 mineral claims (22.5 km2) in seven licences.

In May 2010, Cornerstone announced that it had signed an option agreement with Vale Exploration Canada Inc. ("VEC"), a wholly-owned subsidiary of Vale S.A. (NYSE-VALE) ("VALE"), on the Deer Harbour and Red Cliff (see Red Cliff project summary) copper properties. VEC will make an initial payment of C$25,000 and has committed to a minimum first year expenditure of C$165,000. Thereafter, VEC may elect to make further cash payments totaling C$75,000 over the first two years of the option and incur additional exploration expenditures totaling C$2,850,000 over three years in order to earn a 60% interest in the properties. The parties will then form a joint venture to further explore and develop mineral resources on the properties, with each party contributing to approved exploration programs as per their interest. VEC will operate the exploration programs during the option period in consultation with Cornerstone.

The Deer Harbour property is underlain by moderately dipping sedimentary rocks of the Crown Hill and Rocky Harbour formations of the Late Neoproterozoic Musgravetown Group. The Crown Hill Formation is a red bed sequence comprising pebble and cobble conglomerates, coarse to fine grained sandstone and minor siltstone. Grey and green sandstone and siltstone beds within the red bed sequence represent reduced members, which commonly contain sediment-hosted stratiform copper (SSC) mineralization comprising finely disseminated, fracture filling and veinlet chalcocite ± secondary malachite.

SSC mineralization on the Bonavista Peninsula was first recognized by Cornerstone Resources in late 1999. Exploration work carried out between 2000 and 2005 on the Deer Harbour property included lake sediment geochemistry surveys, prospecting and detailed geological mapping. This work resulted in the discovery of a number of new SSC copper showings within reduced members of the Crown Hill Formation, similar to those at the Red Cliff property 65 km to the north. Outcrop grab samples from the copper showings generally return between 0.1 and 1.6% Cu. The showings have received only limited prospecting, and none have been drill-tested. Given the existing level of exploration, Cornerstone feels the area continues to hold good potential for discovery of a significant SSC deposit.

Related News
10-08 - Cornerstone options sediment-hosted stratiform copper projects in Newfoundland


Maps

Deer Harbour Compilation

Photos

Click for enlarged image Click for enlarged image Click for enlarged image Click for enlarged image
Deer Harbour
South Showing
Deer Harbour
South Showing -
Malachite
Robin Zone -
Cu Replacing Py
Robin Zone -
Chalcocite Replacing Py



El Strato

Related News
Cornerstone provides exploration update on the El Strato gold property in Newfoundland

2006 Drilling Map

Primary Target
Gold

Location
The El Strato property consists of 139 claims covering an area of 34.75km2. The project is situated on the Baie Verte Peninsula, northwestern Newfoundland.

Property Information
Click for drilling detailsThe El Strato project targets high-grade, vein-type gold deposits. It is adjacent to the Baie Verte Line, a major tectonic boundary and a prospective environment for high-grade, orogenic, vein-hosted gold deposits. The property hosts numerous high-grade gold occurrences including the El Strato showing, a 0.75 m wide, base metal-rich quartz vein and the Voodoo showing, located 750 m northeast of the El Strato showing that consists of a cluster of base metal-rich angular quartz blocks up to 2.0 m in diameter. The two showings are within a 1 km long northeast-trending zone which displays coincident gold-in-soil and IP chargeability anomalies. Six holes drilled by previous workers immediately under the boulders failed to source the boulders but yielded a best assay of 2.8 g/t Au over 0.6 m. The results of geological mapping conducted by Cornerstone in 2004 suggest that the mineralization may be associated with a nearby structure. The 2005 diamond drill program defined numerous sub-parallel gold-bearing quartz-carbonate veins over a 100-200 meter strike length in the Voodoo showing area, including 10.6 g/t Au over 1.13 m.
Click for a Photo Gallery for this Project
Photo Gallery
Multiple northeast-striking auriferous veins have been defined by prospecting and new gold-in-soil geochemical anomalies northeast of the Voodoo showing -- extending the gold mineralization for a total 2.0 km strike length. Recent diamond drilling confirmed the down-dip continuation of gold mineralization at the Northeast Extension showing (6.4 g/t Au over 0.3 m) and the Crooked Creek showing (4.05 g/t Au over 1.1 m).

Click here for detailed information on the 2005 work program.

In July 2005, Cornerstone signed a Joint Venture Agreement with Agnico-Eagle Mines Ltd. for exploration of the El Strato property.

Click here for the related press release.


Little Deer



Related News
10-16 - Cornerstone and Thundermin intersect 2.3% Cu over 18.0 m, including 4.2% Cu over 5.5 m, in deepest intersection to date at Little Deer

10-16 - Long Section



Little Deer Technical Report Consent Form
Little Deer Mineral Resource Technical Report

Primary Target
Copper

Location
The Little Deer property consists of 310 claims (7750 ha) comprising the Little Deer and Duck Pond Mineral Licenses (10215M and 10214M), four additional Mineral Licenses located east of the Little Deer License and Cornerstone's former Green Bay Au property (Mineral License 12196M), collectively called the "LDJV Property."

The LDJV property, located 10 km north of Springdale, NL, covers the past-producing Whalesback Mine and Little Deer copper deposit plus the Duck Pond Zn-Au showing and other base metal and gold occurrences.

Property Information
The Little Deer volcanogenic massive sulphide ("VMS") copper deposit occurs within the Cambro-Ordovician Lush's Bight Group sequence of ophiolitic-like intermediate to mafic volcanic rocks. The main sulphide mineralization consists of disseminated, stringer, and semi-massive to massive pyrite, pyrrhotite and chalcopyrite with minor sphalerite. The main copper-bearing horizon dips approximately 75° to the south. Eight similar VMS "Cyprus" type copper deposits occur in the region and are also hosted by the Lush's Bight Group. They have reported resources, of which the past-producing Whalesback and Gullbridge mines are the largest, at approximately 4.5 million tonnes. Seventeen such deposits are known in Cyprus with similar characteristics to those occurring in the Lush's Bight Group with the largest being Mavaravouni at approximately 25Mt.

Historic exploration work at the Little Deer deposit indicates that there is the potential to outline a significant resource of economic grade copper mineralization below and along strike from the area of the Little Deer deposit that was mined previously. Four holes, drilled between 1998 and 2000, each intersected significant copper mineralization over mineable widths over a distance of approximately 450 m on the -550 m elevation.

An 1,800 meter long, strong DEEPEM geophysical conductor correlates well with the known Little Deer Cu mineralization intersected to date. Approximately 700 m of this DEEPEM conductor remains untested by drilling, extending southwest to the Duck Pond Zn-Au showing. Shallow historical drilling completed at Duck Pond intersected 1.1% Zn over 3.0 m, plus 1.5% Zn and 2.5 g/t Au over 1.4m, which may represent a shallow, more zinc-gold rich portion of the main Little Deer VMS horizon.


Long Lake

Related News
Cornerstone Provides Update on Joint Ventures in Newfoundland & Labrador

Primary Target
VMS (Base Metals)

Location
The Long Lake project consists of 33 claims covering an area of 8.25 km2. The project is located less than 60 km southwest of Aur's Duck Pond project where Aur is currently building a mine and mill complex to exploit reserves of 4.1 million tonnes at an average grade of 3.3% Cu, 5.7%, Zn, 59.3 g/t Ag and 0.86 g/t Au (Aur 2004 Annual report).

Property Information
The Long Lake property covers favourable felsic volcanics and sediments akin to those which host Falconbridge's Long Lake deposit, currently under joint venture to Messina Minerals, and comprising a high-grade, massive sulphide resource of 560,000 tonnes averaging 16.0% Zn, 2.2% Cu, 1.3% Pb, 38 g/t Ag and 0.9 g/t Au (Noranda, 1998; not NI 43-101 compliant). Falconbridge's Long Lake deposit hosts grades similar to mineralization recently discovered by Messina at its Boomerang and Domino prospects which are located 10 km west northwest of Cornerstone's Long Lake property.

Cornerstone's property hosts an isolated, 1 km long, airborne electromagnetic conductor associated with an adjacent silica-sericite-pyrite alteration zone hosted by prospective felsic volcanics. A till geochemical survey completed over the conductor in 2005, detected a broadly coincident, open ended, base metal in till anomaly with metal values in till ranging up to 366 ppm Cu, 174 ppm Pb and 542 ppm Zn.

In 2006, Cornerstone, together with Cogitore, completed a drilling program on this project.


Noel Paul's Brook

Primary Target
VMS (Base Metals)

Location
The Noel Paul's Brook property consists of 151 claims controlled 100% by Cornerstone that cover an area of 37.75 km2 located approximately 10 km south of Aur's Duck Pond deposit in central Newfoundland.

Property Information
The property immediately surrounds the Haven Steady VMS prospect (controlled by a third party) where previous explorers reported intersections of up to 0.83% Cu, 1.27% Pb, 6.19% Zn, 4.93 g/t Ag and 1.78 g/t Au over 3.0 m. The Cornerstone property covers the under explored southwest and northeast strike extensions to the host stratigraphy, including mineralized and altered felsic volcanics akin to those which host the Haven Steady prospect.

Until recently, Cornerstone's property was under option to Inmet Mining and partner Woodruff Capital (February 2003 to February 2006) who together spent approximately $440,000 in exploration expenditures on the property. Their work included geological mapping, deep seeking TDEM geophysical surveys and diamond drilling of approximately 1,200 m in 4 holes. Favourable results returned by this work include identification of several deep conductors, of which some were tested by diamond drilling and yielded intersections of favourably altered and mineralized felsic volcanics. Several conductive targets remain to be tested including several off-hole anomalies detected by borehole PEM geophysical surveys. Cornerstone is seeking a new joint venture partner to advance this project and test remaining targets.


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