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Jun 09, 2008 08:00 ET
Cornerstone and Thundermin Intersect Copper Mineralization Over 74 Metres in a New Sulphide Zone on the Little Deer Joint Venture, Newfoundland
MOUNT PEARL, NEWFOUNDLAND--(Marketwire - June 9, 2008) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP) (PINK SHEETS:CTNXF) (FRANKFURT:GWN) (BERLIN:GWN) and 50% joint venture partner Thundermin Resources Inc. announce that they have intersected a new copper zone in hole LD-98-07D on the Little Deer property. This zone comprises 74 m of disseminated, stringer, semi-massive and massive sulphide mineralization containing various amounts of chalcopyrite, pyrrhotite and pyrite within moderately to intensely altered mafic volcanic rocks. The center of this new copper-bearing zone occurs at a vertical depth of approximately 633 m and it is located approximately 50 m north of the high-grade copper horizon that has been the focus of Cornerstone's and Thundermin's drilling program on the property to date. The lateral and vertical extent of this zone, as well as its true thickness, are unknown at this time as previous drilling does not appear to have tested this zone.
Core samples hole LD-98-07D have been sent for analysis to Eastern Analytical Limited, an independent and qualified assayer located in Springdale. The results will be released when they are received which is expected to be within the next two weeks. Drill hole LD-98-07E, designed to test approximately 50 m above the intersection in hole LD-98-07D, is currently in progress as part of the on-going, $1.0 million exploration program on the property which is located approximately 10 km north of Springdale in north-central Newfoundland.
Thundermin, the operator, and Cornerstone have the option, on a 50/50 basis to earn a 100% interest in the Little Deer copper deposit and adjacent property from Weyburn Investments Ltd. Thundermin, under its joint venture agreement with Cornerstone, has the right to increase its interest in the Little Deer property to 75% by funding a feasibility study and arranging 100% of the necessary project financing required to place the property into commercial production. Details on the Little Deer copper deposit and the terms of the agreement with Weyburn can be found in news releases dated May 1, June 21, July 9, October 30, December 11, 2007 and January 24, April 9 and May 15, 2008 and on Thundermin's and Cornerstone's respective websites and on SEDAR.
Mr. Andrew Hussey, P.Geo., Project Geologist and Lands Manager, Cornerstone Resources Inc., is the qualified person that is responsible for supervising the drilling program on the property for the purposes of National Instrument 43-101. Mr. Hussey has reviewed and approved the contents of this release. All 2007 and 2008 drill holes are NQ in size. Specific gravity, rock quality determinations and photographic logging of significant mineralized intersections are performed systematically prior to assaying. The core is logged and the mineralized sections, where appropriate, are sawn in half at a core logging facility in Springdale. Half of the core is submitted for analyses to Eastern Analytical Limited and remaining half of the core is kept for future reference. Blanks, duplicates and standards are routinely used as part of the assay procedures.
Cornerstone and Thundermin would like to acknowledge the financial support received from the Junior Exploration Assistance (JEA) Program of the Province of Newfoundland and Labrador in carrying out the above referenced diamond drilling program.
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