Cornerstone adds to holdings

Cornerstone Resources, a junior company held by Cornerstone Capital (CTP-V), has staked 214 claims to cover prospective ground adjacent to its Red Cliff property, on the northwestern tip of the Bonavista Peninsula in eastern Newfoundland.

The unexplored land package is 32 km northeast of Cornerstone’s Princess properties. The original Red Cliff property covers “red-bed-type” copper mineralization in outcrop, whereas the newly staked claims cover a second discovery of stratiform, sediment-hosted copper-silver mineralization 10 km east-northeast of the Red Cliff showing.

The new occurrence, dubbed Blue Head, returned values of up to 0.44% copper and 2.3 grams silver per tonne in one area and 0.35% copper and 3.7 grams silver in another. It is not yet known if the Red Cliff and Blue Head showings are stratigraphic equivalents or separate mineralized horizons.