Cornerstone Capital Resources Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 26 Kyle Avenue Mount Pearl, Newfoundland Canada A1N 4R5 |
| Toll Free No.: | 1-877-277-8377 |
| Tel No.: | (709) 745-8377 |
| Fax No.: | (709) 747-1183 |
| Web Site: | www.cornerstoneresources.com |
| Email: | mkangas@proconsulcapital.com |
| Contact Person: | Martti Kangas |
| Position: | Investor Relations |
| Traded Market: | TSX-V |
| Traded Symbol: | CGP |
| Outstanding Shares: | 137,698,463 |
| Public Float: | 130,000,000 |
| 52 Week High: | $ 0.76 |
| 52 Week Low: | $ 0.13 |
| Present Price: | Click Here |
INTRODUCTION
Cornerstone Capital Resources Inc. is a Canadian-based company which carried out mineral exploration in the Americas through its subsidiary companies in Canada, Ecuador and Chile. Cornerstone has a skilled and dedicated technical team which is focused on generating and advancing projects that have potential for discovery of significant mineral deposits. Cornerstone leverages its own exploration funding through joint ventures and strategic partnerships, providing shareholders with potential for success at lower risk. Cornerstone has a diversified portfolio of gold, silver, copper, nickel, volcanogenic massive sulphide (VMS), uranium and rare earth element (REE) properties.
Strategic Land Position
Projects are located in areas of demonstrated mineral potential such as:
Cornerstone is continually evaluating new exploration project opportunities in Canada and abroad.
A Diversified Portfolio
Ecuador
Cornerstone has several highly prospective gold-silver-copper projects in underexplored regions of southern Ecuador. The Shyri Project is subject to a joint venture with Intrepid Mines Limited, and encompasses four gold prospects – Gama, Vetas Grandes, Canaribamba and Yanasacha. Shyri is strategically located between the 3.5+ million ounces Quimsacocha epithermal gold project to the east, the Chaucha porphyry Cu-Mo project containing 2.2 billion pounds of copper at 4.46% Cu and 0.03% Mo to the west, and the Rio Blanco epithermal gold-silver project containing 605,000 ounces of gold and 4.3 million ounces of silver to the northwest. A recently completed Phase 1 diamond drilling program at Gama confirmed a large alteration system containing anomalous copper, molybdenum and gold. Two holes intersected broad zones of gold-enrichment in a porphyry system grading 0.71 g/t Au over 45 metres and 0.45 g/t Au over 26 metres.
The Macara Project is subject to a joint venture and regional strategic alliance with Newmont Ventures Limited, a subsidiary of Newmont Mining Corporation, one of the world’s largest gold companies. Geological mapping, prospecting and stream sediment geochemical surveys in the Macara area have identified several large untested alteration zones with gold mineralization.
Cornerstone also has several wholly-owned highly prospective, gold-silver-copper projects for which it is seeking joint venture partners, and is continuing to expand its interests in Ecuador.
Chile
Early in 2011 Cornerstone acquired two new projects, the Miocene gold-silver-copper project in northern Chile and the La Fortuna copper-silver project in central Chile.
The Miocene Project covers a large area located north and along strike of the Maricunga belt, which hosts a number of world class epithermal gold-silver and porphyry gold-copper deposits.
The La Fortuna Project is located immediately east of the Cerro Negro copper-silver mine, and is targeting similar manto-type deposits. Exploration ground surveys designed to advance these projects to the drill-ready stage and potential joint venture participations are currently underway.
Newfoundland
The roots of Cornerstone’s exploration began on the island of Newfoundland in 1997. Since that time Cornerstone has explored the island for gold and base metals through various joint ventures and strategic partnerships. Cornerstone’s current focus is on its Little Deer Copper Project, a 50-50 joint venture with Thundermin Resources Inc. In June 2011 the partners announced a NI 43-101 compliant mineral resource of estimate of 1,911,000 tonnes of Indicated Resources at an average grade of 2.37% Cu (99.8 million lbs Cu) and an Inferred Resource of 3,748,000 tonnes at an average grade of 2.13% Cu (175.9 million lbs Cu). Scoping level metallurgical test work completed in 2010 shows excellent results with production of a saleable, high grade copper concentrate grading over 28% Cu with over 97% copper recovery. An Internal Scoping Review is currently evaluating range of potential mining and operating scenarios for the project, and will provide preliminary information on the economic viability of developing a new copper mine at Little Deer. Cornerstone maintains a portfolio of prospective gold and base metals properties elsewhere on the island.
Management and Directors
Brooke Macdonald, B. Bus., L.L.B. (member New York Bar), President and CEO, Director
Terry Brace, P. Geo., VP Exploration
Yvan Crepeau, Ecuador-Chile Country Manager
Andrew Hussey, P. Geo., Lands Manager
Advisory Board
Dr. James M. Franklin, P. Geo.
On February 9, 2012, Cornerstone Capital Resources Inc. and Intrepid Mines Ltd. reported results for phase 2 diamond drilling at the Gama Project in Ecuador and provided update on current exploration program.
Highlight
On December 30, 2011, Cornerstone Capital Resources Inc. announced that its current President, Brooke Macdonald, has also been appointed Chief Executive Officer, effective January 1, 2012, replacing Glen H. McKay in that role. Mr. McKay will remain a director of and an adviser to Cornerstone.
On December 8, 2011, Cornerstone Capital Resources Inc. announced that Thundermin Resources and Cornerstone Capital have commenced a diamond drilling program comprising approximately 3,800 metres in 13 to 15 holes at their past-producing Whalesback copper mine in Newfoundland.
On November 28, 2011, Cornerstone Capital Resources Inc. announced that a phase 2 diamond drilling program and additional ground exploration surveys have commenced at Cornerstone Capital Resources Inc. and Intrepid Mines Limited.’s Gama Prospect in Ecuador.
On October 20, 2011, Cornerstone Capital Resources Inc. and 50% joint venture partner Thundermin Resources Inc. announced that a recently completed digital compilation of historical diamond drill hole assay data from the 100% owned, past-producing, Whalesback Copper Mine suggests that there is excellent potential for establishing additional copper resources on the Whalesback property below and to the west of the areas mined by British Newfoundland Exploration Company between 1965 and 1972.
Cornerstone and Thundermin intend to undertake 3,800 metres of diamond drilling in nine holes on the Whalesback property commencing this fall.
MANAGEMENT
Mr. Macdonald is a Miami-based lawyer with over 20 years experience in the mining industry, specializing in exploration and mine development. During the past four years, Mr. Macdonald was Vice President Legal Affairs of Skye Resources Inc. Previously he worked with Placer Dome as legal counsel and later as country manager in Venezuela responsible for permitting and developing the Las Cristinas gold project. Prior to joining Placer, he practiced law with Baker & McKenzie in Venezuela for four years. Mr. Macdonald also holds other directorships in the junior mining sector.
Mr. Macdonald earned his law degree from Queen's University in Ontario and is a member of the New York Bar.
Mr. Brace is a professional geoscientist with more than 25 years of exploration industry experience. He is a native of Newfoundland, and holds B.Sc. Honours (1984) and M.Sc. (1991) degrees in Geology from Memorial University of Newfoundland.
Mr. Brace's industry experience is broad-based, and includes exploration for base metals, precious metals and oil & gas in Canada, Latin America and West Africa. He has worked for several major and junior companies, including Noranda, Teck Resources, Aur Resources, Thundermin Resources and Joutel Resources. From 1996 to 1998, he served as Operations Manager for Joutel Resources in Cuba and from 1999 to February 2008, was the senior exploration geologist at Teck's Duck Pond copper-zinc mine located in central Newfoundland. There he was a key member of the management team that brought Duck Pond into production, having also been heavily involved in environmental and permitting aspects of the project.
Mr. Crepeau is a Geologist and exploration manager with over twenty years of diversified experience in the evaluation and management of exploration projects in Eastern Canada as well as overseas in Asia, North, Central and South America. Mr. Crepeau has expertise in corporate development, management of technical programs and human resources, relations with government agencies and contract negotiation. Mr. Crepeau has his Masters of Business Administration (MBA) from HEC in Montreal, specializing in International Management, and his Bachelors Degree in Geology (BSc) from the University of Montreal. He is fluent in English, French and Spanish.
John M. Fleming, P. Geo., Director & Chairman
Glen H. McKay, Director and Advisor
David Loveys, C.A., Director, Vice President Finance & Chief Financial Officer
Colin McKenzie, P. Geo, Director
W. John Clarke, B. Comm., LL.B, Director
Donald J. Worth, P. Eng., Director
Beverley A. Evans, C.A., Director
Dennis Jones, P. Geo.
Patrick J. Mars, CFA